Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 218

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 218
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 Payable Notes payable consists of:

| ​              
 ​              | ​ 
 ​ | ​ 
 ​ | December 31, 
 2024         |   |            |   | ​ | ​ | 2023 |   |            |   | ​ 
 ​ |
|:---------------|:--|:--|:-------------|:--|-----------:|:--|:--|:--|:-----|:--|-----------:|:--|:--|
| Revolving loan | ​ | ​ | ​            | $ | 12,500,000 | ​ | ​ | ​ | ​    | $ | 14,000,000 | ​ | ​ |
| FHLB advance   | ​ | ​ | ​            | ​ | 33,500,000 | ​ | ​ | ​ | ​    | ​ | 33,500,000 | ​ | ​ |
| ​              | ​ | ​ | ​            | $ | 46,000,000 | ​ | ​ | ​ | ​    | $ | 47,500,000 | ​ | ​ |

Revolving loan — The Company has a credit agreement secured by Evergreen Bank Group common stock and requires the Company to maintain certain financial covenants. At December 31, 2024, the Company had a $15,000,000 revolving credit agreement due April 30, 2025. At December 31, 2023, the Company had a $18,000,000 revolving credit agreement due June 15, 2024. Under the agreement, the interest rate on the revolving loan can be set at the Company’s discretion based on either the SOFR rate plus 2.85%, floating, or the prime rate minus 0.25%, 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