Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 158

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 158
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3% and 20.8% for the years ended December 31, 2024 and 2023, respectively. Financial condition General Total assets were $1.45 billion at December 31, 2024, a decrease of $57.4 million, or 3.8%, from December 31, 2023. Our total cash and cash equivalents decreased $17.6 million due primarily to a decrease in interest-earning deposits with banks to reduce wholesale funding balances at year end.

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TABLE OF CONTENTS

Securities decreased by $2.7 million, or 2.1%, to $123.5 million at December 31, 2024, compared to 2023, primarily due to $6.8 million of paydowns, maturities, and calls and $12.1 million of strategic sales, partially offset by security purchases of $17.7 million. Our gross loans decreased $33.2 million, or 2.7%, to $1.2 billion at December 31, 2024 as compared to 2023, primarily due to declines in the powersport, commercial real estate and home equity portfolios, partially offset by growth in the commercial and industrial and commercial construction portfolios. Accrued interest and other assets decreased by $5.0 million, or 29.9%, to $11.8 million at December 31, 2024 compared to 2023 primarily due to gross tax receivable and a significant deposit held for digital banking. Total liabilities were $1.3 billion at December 31, 2024, a $62.2 million, or 4.6%, decrease compared to $1.4 billion at December 31, 2023. The decrease in total liabilities was primarily due to a decrease in deposits and accrued interest and other liabilities. Total deposits decreased by $57.0 million, or 4.4%, during 2024 as a result of a reduction in interest-bearing time deposits, partially offset by an increase in on-line savings accounts. Accrued interest payable and other liabilities decreased by $3.1 million, or 18.3%, partially due to gross tax liability and reduced accrued interest payable. The change in the deposit mix to more savings deposits reduced accrued interest since this deposit type pays interest monthly rather than quarterly. Total stockholders’ equity was $149.9 million at December 31, 2024 compared to $145.1 million at December 31,