Company: OSBC
Filing Date: 2025-05-06
Form Type: S-4/A
Source: 0001104659-25-045103
Chunk: 194

Company: OLD SECOND BANCORP INC
Filing Date: 2025-05-06
Form: S-4/A
Chunk 194
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 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 evaluated subsequent events for potential recognition and/or disclosure through April 15, 2025, the date the consolidated financial statements were available to be issued. On February 24, 2025, the Company and Old Second entered into an Agreement and Plan of Merger (the “merger agreement”). The merger agreement provides that, upon the terms and subject to the conditions set forth therein, the Company will merge with and into Old Second, with Old Second continuing as the surviving entity (the “merger”). Immediately following the merger, the Bank will merge with and into Old Second National Bank, a national banking association and wholly-owned subsidiary of Old Second, with Old Second National Bank continuing as the surviving bank (the “bank merger”).