Company: OSBC
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001558370-25-002383
Chunk: 0

Company: OLD SECOND BANCORP INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 0
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Item 1. Business

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General

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Old Second Bancorp, Inc. is a corporation organized under the laws of the State of Delaware in 1981 that serves as the bank holding company for its wholly-owned subsidiary bank, Old Second National Bank.  Old Second National Bank (the “Bank”) is a national banking association headquartered in Aurora, Illinois, that operates through 53 banking centers located in Cook, DeKalb, DuPage, Kane, Kendall, LaSalle and Will counties in Illinois. 

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In this report, unless the context suggests otherwise, references to the “Company” or “Old Second” refer to Old Second Bancorp, Inc. and references to “we,” “us,” and “our” mean the combined business of the Company, the Bank and its wholly-owned subsidiaries. 

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We conduct a full service community banking and trust business through the Bank and its wholly-owned subsidiaries, as follows:

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●Old Second Affordable Housing Fund, L.L.C., which was formed for the purpose of providing down payment assistance for home ownership to qualified individuals;

●Station I, LLC, Station II, LLC, and Station III, LLC, which were formed to hold property acquired by the Bank through foreclosure or in the ordinary course of collecting a debt previously contracted with borrowers; 

●River Street Advisors, LLC, which was formed in May 2010 to provide investment advisory/management services;

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Intercompany transactions and balances are eliminated in consolidation. We evaluate our operations as one operating segment, which is community banking. Financial information concerning our operations can be found in the financial statements in this annual report.

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