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Jun 30, 2020
Old Second Q2 2020 Earnings Report
Net income of $9.2 million was reported, or $0.31 per diluted share.
Key Takeaways
Old Second Bancorp reported a net income of $9.2 million for the second quarter of 2020, which translates to $0.31 per diluted share. This includes a negative impact of $0.05 per diluted share due to additional provisions for credit losses related to the COVID-19 pandemic.
Net income was $9.2 million, an increase of $9.0 million from the first quarter.
Provision for credit losses was $2.1 million for the second quarter.
Noninterest income was $10.7 million, an increase of $4.4 million compared to the first quarter.
Total loans were $2.05 billion at June 30, 2020, reflecting an increase of $95.1 million compared to March 31, 2020.
Forward Guidance
The credit environment remains uncertain given the economic damage resulting from the pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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