Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 67

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 67
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 communities served by Bancorp Financial and the expectation that the combined entity will provide enhanced services and opportunities for Bancorp Financial’s employees, customers, key partnerships, and its communities;

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the Bancorp Financial board of directors’ review with Bancorp Financial’s legal advisors of the provisions of the merger agreement, including the flexibility of the Bancorp Financial board of directors to consider unsolicited proposals from other institutions after the execution of the merger agreement, and the $8.5 million termination fee in favor of Old Second in the event the merger agreement is terminated under certain specified circumstances;

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the financial presentation, dated February 18, 2025, provided by Bancorp Financial’s financial advisor, KBW, to the Bancorp Financial board of directors and the opinion, dated February 18, 2025, of KBW to the Bancorp Financial board of directors as to the fairness, from a financial point of view and as of the date of the opinion, to the holders of Bancorp Financial common stock of the

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merger consideration in the merger, as more fully described under the section titled “Opinion of Bancorp Financial’s Financial Advisor”; and

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the effects of the merger on Bancorp Financial’s employees, including the prospects for continued employment and the benefits agreed to be provided by Bancorp Financial, Evergreen Bank Group and/or Old Second.

The Bancorp Financial board of directors also considered potential risks relating to the merger, including but not limited to the following:

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the need to obtain regulatory approvals to complete the merger;

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the potential for diversion of management and employee attention, and for employee attrition, during the period prior to the completion of the merger and the potential effect on Bancorp Financial’s business and relations with customers, service providers and other stakeholders, whether or not the merger is completed;

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the merger agreement provisions generally requiring Bancorp Financial to conduct its business in the ordinary course and the other restrictions on the conduct of Bancorp Financial’s business prior to completion of the merger, which may delay or prevent Bancorp Financial from undertaking business opportunities that may arise pending completion of the merger;

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that Old Second could experience a decrease in profitability or regulatory pressure that would force it to reduce its dividends from historical levels;

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that the expected benefits and synergies sought in the merger, including cost savings and Old Second’s ability to successfully market its financial products and services to Bancorp Financial’s customers, may not be realized or may not be realized within the expected time period