Company: OSBC
Filing Date: 2025-04-23
Form Type: S-4
Source: 0001104659-25-037832
Chunk: 119

Company: OLD SECOND BANCORP INC
Filing Date: 2025-04-23
Form: S-4
Chunk 119
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 for the merger consideration. This summary is based upon the Internal Revenue Code of 1986, as amended, which we refer to as the “Code,” Treasury regulations promulgated thereunder, judicial authorities, published positions of the Internal Revenue Service, which we refer to as the “IRS,” and other applicable authorities, all as in effect on the date of this discussion and all of which are subject to change (possibly with retroactive effect) and differing interpretations.

This summary is limited to U.S. holders (as defined below) that hold their shares of Bancorp Financial common stock as a capital asset within the meaning of Section 1221 of the Code (generally, property held for investment). Furthermore, this discussion does not address all of the tax consequences that may be relevant to a particular Bancorp Financial stockholder or to Bancorp Financial stockholders that are subject to special rules under U.S. federal income tax laws, such as: stockholders that are not U.S. holders; financial institutions; insurance companies; mutual funds; tax-exempt organizations or governmental entities; S corporations or other pass-through entities (or investors in such entities); regulated investment companies; real estate investment trusts; dealers in securities or currencies; persons subject to the alternative minimum tax provisions of the Code; former citizens or residents of the United States; persons whose functional currency is not the U.S. dollar; traders in securities that elect to use a mark-to-market method of accounting; persons who own more than 5% of the outstanding common stock of Bancorp Financial; persons who hold Bancorp Financial common stock as part of a straddle, hedge, constructive sale or conversion transaction; and U.S. holders who acquired their shares of Bancorp Financial common stock through the exercise of an employee stock option or otherwise as compensation; or holders who exercise dissenters’ rights.

In addition, this discussion does not address any alternative minimum tax or any state, local or foreign tax consequences of the merger, nor does it address any other U.S. federal tax consequences (such as gift or estate taxes). Determining the actual tax consequences of the merger to each Bancorp Financial stockholder may be complex. They will depend on each Bancorp Financial stockholder’s specific situation and on factors that are not within the control of Old Second or Bancorp Financial. Accordingly, each Bancorp Financial stockholder should consult his or her tax advisor with respect to the particular tax consequences of the merger to such holder.

For purposes of this discussion, the term “U.S. holder” means a