Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 409

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 409
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 financial advisory services to Old Second and received compensation for such services. KBW acted as financial adviser to Old Second in connection with its December 2024 acquisition of certain branches. We may in the future provide investment banking and financial advisory services to Bancorp Financial or Old Second and receive compensation for such services.

In connection with this opinion, we have reviewed, analyzed and relied upon material bearing upon the financial and operating condition of Bancorp Financial and Old Second and bearing upon the Merger, including among other things, the following: (i) a draft of the Agreement dated February 17, 2025 (the most recent draft made available to us); (ii) the audited financial statements for the three fiscal years ended December 31, 2023 of Bancorp Financial; (iii) the unaudited financial statements for the fiscal quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 of Bancorp Financial; (iv) certain preliminary and unaudited financial information for the fiscal year and fiscal quarter ended December 31, 2024 of Bancorp Financial (provided Bancorp Financial); (v) the audited financial statements and the Annual Reports on Form 10-K for the three fiscal years ended December 31, 2023 of Old Second; (vi) the unaudited quarterly financial statements and the Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 of Old Second; (vii) certain unaudited financial results for the fiscal quarter ended December 31, 2024 of Old Second (contained in the Current Report on Form 8-K filed by Old Second on January 22, 2025); (viii) certain regulatory filings of Bancorp Financial and Old Second and their respective subsidiaries, including the quarterly reports on Form FRY-9C and call reports filed with respect to each quarter during the three year period ended December 31, 2024; (ix) certain other interim reports and other communications of Bancorp Financial and Old Second provided to their respective stockholders; and (x) other financial information concerning the businesses and operations of Bancorp Financial and Old Second furnished to us by Bancorp Financial and Old Second or which we were otherwise directed to use for purposes of our analyses. Our consideration of financial information and other factors that we deemed appropriate under the circumstances or relevant to our analyses included, among