Old Second Bancorp's Q1 Financial Performance Revealed

Published 1 hours agoOSBC

Old Second Bancorp's Q1 Financial Performance Revealed

Old Second Bancorp reported a net income of $19.8 million for the first quarter of 2025, a slight increase from $19.1 million in the last quarter of 2024 but a decrease from $21.3 million in the same period the previous year. The earnings per share stood at $0.43, in alignment with analyst forecasts.

According to insights shared by Insider Monkey, the bank's net interest and dividend income grew by 5.2% year over year, reaching $62.9 million. This increase was supported by an improved net interest margin, which rose to 4.85% from 4.66% in Q4 2024. Additionally, total deposits saw a modest quarter-over-quarter increase of 1.8% to $4.85 billion, signifying a robust liquidity position for the bank. However, noninterest income declined by 12.1% from the previous quarter, largely due to reduced mortgage banking revenue.

Despite challenges with rising noninterest expenses, which increased by 16.4% due to heightened salaries and transaction costs, Old Second Bancorp continues to fortify its financial strength through revenue growth and improved balance sheet stability. The official 8-K filing highlights these financial metrics, underscoring the bank's capacity to enhance its net interest margins and deposit levels amidst economic fluctuations.

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