Company: OSBC
Filing Date: 2025-05-08
Form Type: 424B3
Source: 0001104659-25-046065
Chunk: 225

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-08
Form: 424B3
Chunk 225
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 floating, with an interest rate floor of 2.25%. The interest rate was 7.19% and 8.20% at December 31, 2024 and 2023, respectively. At both December 31, 2024 and 2023, the revolving credit agreement includes a non-usage fee of 0.25% on any undrawn amounts. FHLB Advance — The Company entered into a Pledge Agreement with the Federal Home Loan Bank and began pledging loans in 2012. Under the agreement, the Company can borrow up to 76% of the book value of pledged 1-4 family real estate loans, 62% of the book value of pledged home equity loans and 98% of the current fair market value of pledged MBS agency securities. As of December 31, 2024, the Company has pledged assets with a collateral value of approximately $4,100,934 of 1-4 family real estate loans, $45,707,455 of home equity loans and lines of credit, and $50,710,651 of MBS agency securities. At December 31, 2024, the Company had four separate FHLB advances with interest rates ranging from 0.69%-4.46% and maturities ranging from January of 2025 to June of 2029. At December 31, 2023, the Company had five separate FHLB advances with interest rates ranging from 0.69%-3.87% and maturities ranging from June of 2024 to March of 2028. Note 8. Employee Benefit Plans The Company has a 401(k) defined contribution plan covering substantially all employees. Eligible employees may elect to contribute a percentage of their compensation, as defined by the plan. For the years ended December 31, 2024 and 2023, the plan provides for a 100% Safe Harbor matching contribution limited to the first 4% of employee contributions for all employees who have completed one month of service. The Company made contributions to this plan of approximately $462,000 and $471,000 during 2024 and 2023, respectively. On January 1, 2012, the Company adopted a Supplemental Executive Retirement Plan (SERP) with certain executive officers. Under this SERP, the Company agrees to provide at a prescribed retirement date, a supplemental fixed post-retirement benefit for an established number of years. This SERP is unf