Company: OSBC
Filing Date: 2025-05-08
Form Type: 424B3
Source: 0001104659-25-046065
Chunk: 199

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-08
Form: 424B3
Chunk 199
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losures.” The ASU applies to creditors who have adopted ASU 2016-13 and eliminates the accounting guidance for TDR’s and requires the entity to evaluate whether the modification represents a new loan or a continuation of an existing loan. This standard became effective for the Company beginning January 1, 2023. Adoption of this standard did not have a material impact on the Company’s financial position or results of operations.

In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires more detailed disclosures of income taxes paid net of refunds received, income from continuing operations before income tax expense or benefit, and income tax expense from continuing operations. This standard is to be applied on a prospective basis, with retrospective application permitted, and will be effective for the Company for annual periods beginning on January 1, 2026. The Company does not expect adoption of this standard to have a material impact on the Company’s financial position or results of operations.

In March 2024, the FASB issued ASU 2024-01 “Compensation — Stock Compensation (Topic 718) — Scope Application of Profits Interest and Similar Awards”, which clarifies how an entity determines whether a profits interest or similar award is within the scope of Topic 718 or is not a share-based payment arrangement and, therefore is within the scope of other guidance. ASU 2024-01 provides an illustrative example with multiple fact patterns and also amends certain language in the “Scope” and “Scope Exceptions” sections of Topic 718 to improve its clarity and operability without changing the guidance. Entities can apply the amendments either retrospectively to all prior periods presented in the financial statements or prospectively to profits interest and similar awards granted or modified on or after the date of adoption. If prospective application is elected, an entity must disclose the nature of and reason for the change in accounting principle. ASU 2024-01 will be effective for the Company beginning on January 1, 2026, including interim periods. The Company does not expect adoption of this standard to have a material impact on the Company’s financial position or results of operations.

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TABLE OF CONTENTS

Bancorp Financial, Inc. and Subsidiary Notes to Consolidated Financial Statements Note 1. Summary of Significant Accounting Policies (continued) Subsequent events: Except as noted below, the Company has