# EDGAR Filing Document

**Accession Number:** 0000357173
**File Stem:** 0000357173-26-000010
**Filing Date:** 2026-1
**Character Count:** 93238
**Document Hash:** aab5933e8585e51fc8a84cd8b36a8e6d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000357173-26-000010.hdr.sgml**: 20260121

**ACCESSION NUMBER**: 0000357173-26-000010

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 24

**CONFORMED PERIOD OF REPORT**: 20260121

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260121

**DATE AS OF CHANGE**: 20260121

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OLD SECOND BANCORP INC
- **CENTRAL INDEX KEY:** 0000357173
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 363143493
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-10537
- **FILM NUMBER:** 26547800

**BUSINESS ADDRESS:**
- **STREET 1:** 37 S RIVER ST
- **CITY:** AURORA
- **STATE:** IL
- **ZIP:** 60507
- **BUSINESS PHONE:** 6308920202

**MAIL ADDRESS:**
- **STREET 1:** 37 SOUTH RIVER STREET
- **CITY:** AURORA
- **STATE:** IL
- **ZIP:** 60507

?xml version='1.0' encoding='ASCII'? OLD SECOND BANCORP INC_January 21, 2026

I

**United States**

**Securities And Exchange Commission**

**Washington, D.C. 20549**

**FORM 8-K**

**Current Report**

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): **January 21, 2026**

## (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Delaware** | &nbsp;&nbsp;**000-10537** | &nbsp;&nbsp;**36-3143493** |
| &nbsp;&nbsp;(State or other jurisdiction of incorporation) | &nbsp;&nbsp;(Commission File Number) | &nbsp;&nbsp;(I.R.S. Employer Identification No.) |

---

**37 South River StreetAurora, Illinois 60507**(Address of principal executive offices) (Zip code)

#### (630) 892-0202 (Registrant's telephone number, including area code)
**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

**☐** Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

**☐** Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

**☐** Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

**☐** Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock | OSBC | The Nasdaq Stock Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).

Emerging growth company **☐**

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. **☐**

------

**Item 2.02 Results of Operations and Financial Condition**

On January 21, 2026, Old Second Bancorp, Inc. (the "Company's") issued a press release announcing its financial results for the fourth quarter ended December 31, 2025, along with certain other financial information. Copies of the Company's press release and loan portfolio disclosures are attached as Exhibits 99.1 and 99.2, respectively.

**Item 9.01 Financial Statements and Exhibits**

---

| | |
|:---|:---|
| &nbsp;&nbsp;Exhibit No. | &nbsp;&nbsp;Description |
| &nbsp;&nbsp;99.1 | &nbsp;&nbsp;[Press Release of Old Second Bancorp, Inc. dated January 21, 2026](osbc-20260121xex99d1.htm) |
| &nbsp;&nbsp;99.2 | &nbsp;&nbsp;[Loan Portfolio Disclosures for Old Second Bancorp, Inc. dated December 31, 2025](osbc-20260121xex99d2.htm) |
| &nbsp;&nbsp;104 | &nbsp;&nbsp;Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) |

---

**Signature**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **OLD SECOND BANCORP, INC.** | **OLD SECOND BANCORP, INC.** |
| Dated: January 21, 2026 | By: | /s/ Bradley S. Adams |
|  |  | Bradley S. Adams |
|  |  | Executive Vice President,  |
|  |  | Chief Operating Officer and |
|  |  | Chief Financial Officer |

---

## Exhibit 99.1

![Graphic](osbc-20260121xex99d1001.jpg)

---

| | | |
|:---|:---|:---|
| **(NASDAQ:OSBC)** | **(NASDAQ:OSBC)** | **Exhibit 99.1** |
| **Contact:** | &nbsp;&nbsp;**Bradley S. Adams** | **For Immediate Release** |
|  | &nbsp;&nbsp;**Chief Financial Officer** | **January 21, 2026** |
|  | **(630) 906-5484** |  |

---

**Old Second Bancorp, Inc. Reports Fourth Quarter 2025 Net Income of $28.8 Million, or $0.54 per Diluted Share**

**AURORA, IL, January 21, 2026 –** Old Second Bancorp, Inc. (the "Company," "Old Second," "we," "us," and "our") (NASDAQ: OSBC), the parent company of Old Second National Bank (the "Bank"), today announced financial results for the fourth quarter of 2025. Our net income was $28.8 million, or $0.54 per diluted share, for the fourth quarter of 2025, compared to net income of $9.9 million, or $0.18 per diluted share, for the third quarter of 2025, and net income of $19.1 million, or $0.42 per diluted share, for the fourth quarter of 2024.

Adjusted net income, a non-GAAP financial measure that excludes certain nonrecurring items, as applicable, was $30.8 million, or $0.58 per diluted share, for the fourth quarter of 2025, compared to $28.4 million, or $0.53 per diluted share, for the third quarter of 2025, and $20.0 million, or $0.44 per diluted share, for the fourth quarter of 2024. The pre-tax adjusting items impacting the fourth quarter of 2025 included the exclusion of $428,000 of mortgage servicing rights ("MSRs") mark to market losses, and $2.3 million of transaction-related expenses, net of gains on branch sales, primarily from our acquisition of Bancorp Financial, Inc ("Bancorp Financial"). The adjusting items impacting the third quarter of 2025 included the exclusion of $13.2 million of day two provision for credit losses recorded with our acquisition of Bancorp Financial, $389,000 of MSRs mark to market losses, $430,000 of death benefits realized on BOLI, and $11.5 million of transaction-related expenses, net of gains on branch sales, primarily from our acquisition of Bancorp Financial. The adjusting items impacting the fourth quarter of 2024 included the exclusion of $385,000 of MSRs mark to market gains and $1.5 million of transaction-related expenses, net of losses on branch sales, primarily from our purchase of five branches from First Merchants Bank ("FRME"). See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 18 that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

Net income increased $18.9 million in the fourth quarter of 2025 compared to the third quarter of 2025 driven by lower acquisition related costs. The increase was primarily due to a $16.7 million decrease in provision for credit losses, as $3.0 million of provision expense was recorded in the fourth quarter of 2025, compared to $13.2 million of a day two provision from our acquisition of Bancorp Financial and $6.5 million of provision expense in the prior linked quarter. In addition, there was a $2.0 million decrease in interest expense driven by the decrease in interest paid on deposits, and a $10.2 million decrease in noninterest expense in the fourth quarter of 2025, compared to the prior linked quarter, mainly due to the timing of costs incurred related to our acquisition of Bancorp Financial. The increases to the fourth quarter of 2025's net income, as compared to the prior quarter, were partially offset by a $1.8 million decrease in interest and dividend income, primarily due to declines in rates and volume on securities coupled with a decline on yields, partially offset by an increase in volume in the loan portfolio, a $955,000 decrease in noninterest income, and a $7.3 million increase in provision for income taxes. Net income increased $9.7 million in the fourth quarter of 2025 compared to the fourth quarter of 2024, primarily due to an increase of $27.0 million in interest and dividend income stemming from our acquisition of Bancorp Financial. The increase in net income compared to the prior year like quarter was partially offset by a $5.6 million increase in interest expense and an $8.6 million increase in noninterest expense, both of which were driven by the Bancorp Financial acquisition, as well as a $4.2 million increase in provision for income taxes due to higher pretax income.

------

#### Operating Results
● Fourth quarter 2025 net income was $28.8 million, reflecting an $18.9 million increase from the third quarter of 2025, and an increase of $9.7 million from the fourth quarter of 2024. Adjusted net income, as defined above, was $30.8 million for the fourth quarter of 2025, an increase of $2.4 million from adjusted net income for the third quarter of 2025, and an increase of $10.8 million from adjusted net income for the fourth quarter of 2024 .

● Net interest and dividend income was $83.1 million for the fourth quarter of 2025, reflecting an increase of $276,000, or 0.3%, from the third quarter of 2025, and an increase of $21.5 million, or 34.9%, from the fourth quarter of 2024 .

● We recorded a net provision for credit losses of $3.0 million in the fourth quarter of 2025 compared to a net provision for credit losses of $19.7 million in the third quarter of 2025 and net provision for credit losses of $3.5 million in the fourth quarter of 2024 . Provision for credit loss expense in the third quarter of 2025 included the $13.2 million impact of the Bancorp Financial day two purchase accounting.

● Noninterest i ncome was $12.2 million for the fourth quarter of 2025, a decrease of $955,000, or 7.3%, compared to $13.1 million for the third quarter of 2025, and an increase of $544,000, or 4.7%, compared to $11.6 million for the fourth quarter of 2024.

● Noninterest expense was $52.9 million for the fourth quarter of 2025, a decrease of $10.2 million, or 16.2%, compared to $63.2 million for the third quarter of 2025, and an increase of $8.6 million, or 19.4%, compared to $44.3 million for the fourth quarter of 2024.

● We had a provision for income tax of $10.5 million for the fourth quarter of 2025, compared to a provision for income tax of $3.2 million for the third quarter of 2025 and a provision for income tax of $6.3 million for the fourth quarter of 2024. The effective tax rate for each of the periods presented was 26.7%, 24.5%, and 24.7%, respectively. The effective tax rate for the fourth quarter 2025 exceeded both prior periods presented as we determined certain acquisition costs related to the Bancorp Financial transaction were not fully deductible.

● On January 20, 2026, our Board of Directors declared a cash dividend of $0.07 per share of common stock, payable on February 9 , 2026, to stockholders of record as of January 30, 2026.

------

**Financial Highlights**

---

| | | | |
|:---|:---|:---|:---|
|  | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** |
| **(Dollars in thousands)** | **December 31,**  | **September 30,**  | **December 31,**  |
|  | **2025** | **2025** | **2024** |
| **Balance sheet summary** |  |  |  |
| Total assets | $6902675 | $6991754 | $5649377 |
| Total securities available-for-sale | 1090523 | 1157480 | 1161701 |
| Total loans | 5252131 | 5264505 | 3981336 |
| Total deposits | 5596069 | 5760250 | 4768731 |
| Total liabilities | 6005907 | 6125069 | 4978343 |
| Total equity | 896768 | 866685 | 671034 |
| Total tangible assets | $6749787 | $6836565 | $5534086 |
| Total tangible equity | 743880 | 711496 | 555743 |
| **Income statement summary** |  |  |  |
| Net interest income | $83051 | $82775 | $61584 |
| Provision for credit losses | 3000 | 19653 | 3500 |
| Noninterest income | 12154 | 13109 | 11610 |
| Noninterest expense | 52935 | 63163 | 44322 |
| Net income | 28787 | 9871 | 19110 |
| Effective tax rate | 26.69% | 24.46% | 24.68% |
| **Profitability ratios** |  |  |  |
| Return on average assets (ROAA) | 1.64% | 0.56% | 1.34% |
| Return on average equity (ROAE) | 12.92 | 4.61 | 11.38 |
| Net interest margin (tax-equivalent) | 5.09 | 5.05 | 4.68 |
| Efficiency ratio | 53.98 | 64.46 | 57.12 |
| Return on average tangible common equity (ROATCE) <sup>1</sup> | 16.15 | 6.16 | 13.79 |
| Tangible common equity to tangible assets (TCE/TA) | 11.02 | 10.41 | 10.04 |
| **Per share data** |  |  |  |
| Diluted earnings per share | $0.54 | $0.18 | $0.42 |
| Tangible book value per share | 14.12 | 13.51 | 12.38 |
| **Company capital ratios** <sup>2</sup> |  |  |  |
| Common equity tier 1 capital ratio | 12.99% | 12.44% | 12.82% |
| Tier 1 risk-based capital ratio | 13.41 | 12.85 | 13.34 |
| Total risk-based capital ratio | 15.66 | 15.10 | 15.54 |
| Tier 1 leverage ratio | 11.70 | 11.21 | 11.30 |
| **Bank capital ratios** <sup>2, 3</sup> |  |  |  |
| Common equity tier 1 capital ratio | 13.17% | 13.14% | 12.89% |
| Tier 1 risk-based capital ratio | 13.17 | 13.14 | 12.89 |
| Total risk-based capital ratio | 14.42 | 14.39 | 13.82 |
| Tier 1 leverage ratio | 11.49 | 11.45 | 10.90 |

---

<sup>1</sup> *See the discussion entitled "Non-GAAP Presentations" below and the table on page 19 that provides a reconciliation of this non-GAAP financial measure to the most comparable GAAP equivalent.*

<sup>2</sup> *Both the Company and the Bank ratios are inclusive of a capital conservation buffer of 2.50%, and both are subject to the minimum capital adequacy guidelines of 7.00%, 8.50%, 10.50%, and 4.00% for the Common equity tier 1, Tier 1 risk-based, Total risk-based and Tier 1 leverage ratios, respectively*.

<sup>3</sup> *The prompt corrective action provisions are applicable only at the Bank level, and are 6.50%, 8.00%, 10.00%, and 5.00% for the Common equity tier 1, Tier 1 risk-based, Total risk-based and Tier 1 leverage ratios, respectively*.

Chairman, President and Chief Executive Officer Jim Eccher said "Old Second concluded a great year with an extremely strong fourth quarter. Core earnings have exhibited very strong growth in recent periods and profitability remains among the best in the industry with return on average assets of 1.75% and return on average tangible equity of 17.23%, both excluding acquisition related purchase accounting and deal costs. The tax equivalent net interest margin has remained resilient and impressive at 5.09% and the adjusted efficiency ratio was a very healthy 51.28%. This strong bottom-line performance and a well-positioned balance sheet drove an increase in the tangible common equity capital ratio to 11.02% from 10.04% last year end and tangible book value per share increased by 14% in 2025 despite the dilution associated with a meaningful acquisition."

"In summary, we are proud of the strength and sustainability of our performance, and with marginal spreads in loan and deposit markets improving, we are excited about the opportunities for additional growth in 2026. We believe we have exceptional balance sheet flexibility and the strategic positioning to capitalize on growth opportunities that may come our way in the near future. I would like to thank our team for their hard work and execution in 2025, including integrations and systems conversions and upgrades that have made us a much better Old Second. I could not be more excited about the things we can accomplish within the next year."

------

**Asset Quality & Earning Assets** 

● Nonperforming loans, comprised of nonaccrual loans plus loans past due 90 days or more and still accruing, totaled $52.8 million at December 31, 2025, $48.0 million at September 30, 2025, and $30.3 million at December 31, 2024. Nonperforming loans, as a percent of total loans, was 1.0% at December 31, 2025, 0.9% at September 30, 2025, and 0.8% at December 31, 2024. The $4.8 million increase in the fourth quarter of 2025 for nonperforming loans is driven by a $13.8 million increase in nonaccrual loans due to inflows of $18.3 million, primarily related to two commercial real estate relationships totaling $14.9 million, partially offset by outflows of $4.5 million, which include $2.4 million of loans paid off and $2.1 million of partial principal reductions from payments and partial charge-offs on loans. The increase to nonaccrual loans was partially offset by a $9.0 million decrease to loans past due 90 days or more and still accruing, primarily comprised of two legacy relationships, one that was paid off in the fourth quarter of 2025 and another that was downgraded to nonaccrual.

● Total loans were $5.25 billion at December 31, 2025, reflecting a decrease of $12.4 million compared to September 30, 2025 and an increase of $1.27 billion compared to December 31, 2024. The significant increase from December 31, 2024 is primarily driven by the $1.19 billion of loans acquired in our acquisition of Bancorp Financial. The decline in loans from September 30, 2025 is influenced by the seasonal reductions within the powersport portfolio. Based on historical data, the powersport portfolio shows much higher origination volume from March through September as compared to the remainder of the year. Excluding loans purchased from the Bancorp Financial acquisition, organic loan growth, net of paydowns, totaled $76.1 million, or 1.9%, compared to December 31, 2024 total loans. Average loans (including loans held-for-sale) for the fourth quarter of 2025 totaled $5.28 billion, reflecting an increase of $61.3 million from the third quarter of 2025, and an increase of $1.28 billion from the fourth quarter of 2024.

● Available-for-sale securities totaled $1.09 billion at December 31, 2025, compared to $1.16 billion at September 30, 2025 and $1.16 billion at December 31, 2024. The unrealized mark to market loss on securities totaled $43.1 million as of December 31, 2025, compared to $47.7 million as of September 30, 2025, and $68.6 million as of December 31, 2024, due to market interest rate fluctuations as well as changes year over year in the composition of the securities portfolio. During the quarter ended December 31, 2025, we had security purchases of $7.8 million and security maturities, calls and paydowns of $78.9 million, compared to security purchases of $20.6 million, security sales of $7.5 million, excluding the sale of Bancorp Financial's $117.6 million available-for-sale securities portfolio after the acquisition closed, and security maturities, calls and paydowns of $41.1 million during the quarter ended September 30, 2025. During the quarter ended December 31, 2024, we had security purchases of $84.9 million and $101.2 million of maturities, calls, and paydowns. We may continue to buy and sell strategically identified securities as opportunities arise.

------

#### Net Interest Income

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** | **Analysis of Average Balances,** |
| **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** | **Tax Equivalent Income / Expense and Rates** |
| **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  | **(Dollars in thousands - unaudited)**  |
|  | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Average** <br>**Balance**  | **Income /**<br>**Expense** | **Rate %**<br> | **Average** <br>**Balance**  | **Income /**<br>**Expense** | **Rate %**<br> | **Average** <br>**Balance**  | **Income /**<br>**Expense** | **Rate %**<br> |
| **Assets** |  |  |  |  |  |  |  |  |  |
| Interest earning deposits with financial institutions | $66430 | $598 | 3.57 | $119619 | $1255 | 4.16 | $49757 | $542 | 4.33 |
| Securities: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Taxable | 979060 | 9136 | 3.70 | 1016279 | 9872 | 3.85 | 1017530 | 8899 | 3.48 |
| &nbsp;&nbsp;Non-taxable (TE)<sup>1</sup> | 150573 | 1543 | 4.07 | 149621 | 1563 | 4.14 | 162494 | 1614 | 3.95 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total securities (TE)<sup>1</sup> | 1129633 | 10679 | 3.75 | 1165900 | 11435 | 3.89 | 1180024 | 10513 | 3.54 |
| FHLBC and FRBC Stock | 30085 | 390 | 5.14 | 25961 | 381 | 5.82 | 27493 | 562 | 8.13 |
| Loans and loans held-for-sale<sup>1, 2</sup> | 5278643 | 90969 | 6.84 | 5217349 | 91342 | 6.95 | 4003041 | 64012 | 6.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest earning assets | 6504791 | 102636 | 6.26 | 6528829 | 104413 | 6.34 | 5260315 | 75629 | 5.72 |
| Cash and due from banks | 52040 | - | - | 51357 | - | - | 54340 | - | - |
| Allowance for credit losses on loans | (73718) | - | - | (72354) | - | - | (45040) | - | - |
| Other noninterest earning assets | 477064 | - | - | 491421 | - | - | 394928 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $6960177 |  |  | $6999253 |  |  | $5664543 |  |  |
| **Liabilities and Stockholders' Equity** |  |  |  |  |  |  |  |  |  |
| NOW accounts | $682729 | $816 | 0.47 | $668439 | $825 | 0.49 | $573271 | $644 | 0.45 |
| Money market accounts | 958672 | 4561 | 1.89 | 954964 | 4979 | 2.07 | 722491 | 3128 | 1.72 |
| Savings accounts | 1123208 | 2529 | 0.89 | 1175011 | 3239 | 1.09 | 899846 | 880 | 0.39 |
| Time deposits | 1179966 | 8665 | 2.91 | 1347455 | 10896 | 3.21 | 692001 | 5606 | 3.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest bearing deposits | 3944575 | 16571 | 1.67 | 4145869 | 19939 | 1.91 | 2887609 | 10258 | 1.41 |
| Securities sold under repurchase agreements | 23464 | 45 | 0.76 | 33382 | 60 | 0.71 | 39982 | 75 | 0.75 |
| Other short-term borrowings | 159565 | 1644 | 4.09 | 25978 | 308 | 4.70 | 204783 | 2527 | 4.91 |
| Junior subordinated debentures | 25774 | 288 | 4.43 | 25774 | 288 | 4.43 | 25773 | 289 | 4.46 |
| Subordinated debentures | 59542 | 546 | 3.64 | 59521 | 547 | 3.65 | 59457 | 546 | 3.65 |
| Notes payable and other borrowings | 14819 | 158 | 4.23 | 14806 | 158 | 4.23 | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest bearing liabilities** | 4227739 | 19252 | 1.81 | 4305330 | 21300 | 1.96 | 3217604 | 13695 | 1.69 |
| Noninterest bearing deposits | 1781374 | - | - | 1782193 | - | - | 1712106 | - | - |
| Other liabilities | 67078 | - | - | 61732 | - | - | 66952 | - | - |
| Stockholders' equity | 883986 | - | - | 849998 | - | - | 667881 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity** | $6960177 |  |  | $6999253 |  |  | $5664543 |  |  |
| Net interest income (GAAP) |  | $83051 |  |  | $82775 |  |  | $61584 |  |
| Net interest margin (GAAP) |  |  | 5.07 |  |  | 5.03 |  |  | 4.66 |
| Net interest income (TE)<sup>1</sup> |  | $83384 |  |  | $83113 |  |  | $61934 |  |
| Net interest margin (TE)<sup>1</sup> |  |  | 5.09 |  |  | 5.05 |  |  | 4.68 |
| Interest bearing liabilities to earning assets | 64.99% |  |  | 65.94% |  |  | 61.17% |  |  |

---

<sup>1</sup> *Tax equivalent (TE) basis is calculated using a marginal tax rate of 21% in 2025 and 2024. See the discussion entitled "Non-GAAP Presentations" below and the tables beginning on page 18 that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.*

<sup>2</sup> *Interest income from loans is shown on a TE basis, which is a non-GAAP financial measure as discussed in the table on page 18, and includes loan fee income of $1.9 million for the fourth quarter of 2025, loan fee income of $1.2 million for the third quarter of 2025, and loan fee income of $140,000 for the fourth quarter of 2024. Nonaccrual loans are included in the above stated average balances.*

The decreased yield of eight basis points on interest earning assets compared to the linked period was primarily driven by the two 25 basis point rate cuts during the fourth quarter of 2025 and one 25 basis point rate cut in September 2025, reducing the income of our securities and loan portfolios in the fourth quarter of 2025. Changes in the market interest rate environment impact earning assets at varying intervals depending on the repricing timeline of loans, as well as the securities maturity, paydown and purchase activities.

------

The year over year increase of 54 basis points on interest earning assets was primarily driven by increased yield on loans due to the Bancorp Financial acquisition as well as planned turnover in our securities portfolio with many older and lower yielding securities maturing and being replaced with higher yielding investments while maintaining the shorter duration portfolio composition. Average balances of loans and loans held for sale increased $1.28 billion in the fourth quarter of 2025 compared to the prior year like quarter, with a corresponding increase to the tax equivalent yield on the loan portfolio of 48 basis points year over year due to the Bancorp Financial acquisition. Average balances of securities available for sale decreased $50.4 million in the fourth quarter of 2025 compared to the prior year like quarter, but showed an increase to the tax equivalent yield on the securities available for sale portfolio of 21 basis points year over year primarily due to variable security rate resets and higher yielding investments.

Average balances of interest bearing deposit accounts have decreased since the third quarter of 2025 through the fourth quarter of 2025, from $4.15 billion to $3.94 billion. The decrease in average deposits along with the Fed rate cuts during the last four months of 2025 drove the decrease in interest bearing deposit expenses of $3.4 million compared to the prior linked quarter, which decreased the cost of interest bearing deposits from 191 basis points for the quarter ended September 30, 2025, to 167 basis points for the quarter ended December 31, 2025. We will continue to control the cost of funds by monitoring market activity as well as allowing remaining exception-priced deposits to run off naturally. An 18 basis point decrease in money market accounts, a 20 basis point decrease in savings accounts, and a 30 basis point decrease in time deposits for the quarter ended December 31, 2025 drove a significant portion of the decrease from the prior linked quarter. The cost of interest bearing deposits increased 26 basis points for the quarter ended December 31, 2025 from 141 basis points for the quarter ended December 31, 2024. A 17 basis point increase in the cost of money market accounts and a 50 basis point increase in savings accounts drove a significant portion of the overall increase from the prior year like quarter. An increase in the volume of deposits related to the Bancorp Financial acquisition, as compared to rates, drove the $3.1 million of growth in interest expense related to time deposits, compared to the prior year like period.

Borrowing costs increased in the fourth quarter of 2025, compared to the third quarter of 2025, primarily due to the $133.6 million increase in average other short-term borrowings stemming from an increase in average daily FHLB advances over the prior linked quarter. The decrease of $45.2 million year over year of average FHLB advances was based on daily liquidity needs due to the changes in the funding mix as a result of recent acquisitions and was the primary driver of the $883,000 decrease to interest expense on other short-term borrowings. Subordinated and junior subordinated debt interest expense were essentially flat over each of the periods presented. Notes payable of $14.8 million were assumed in the Bancorp Financial acquisition; these notes are FHLB long-term putable advances.

Our net interest margin, for both GAAP and TE presentations, showed growth over the prior linked quarter periods and over the prior year like quarter presented above. Our net interest margin (GAAP) increased four basis points to 5.07% for the fourth quarter of 2025, compared to 5.03% for the third quarter of 2025, and increased 41 basis points compared to 4.66% for the fourth quarter of 2024. Our net interest margin (TE) increased four basis points to 5.09% for the fourth quarter of 2025, compared to 5.05% for the third quarter of 2025, and increased 41 basis points compared to 4.68% for the fourth quarter of 2024. The increase in net interest margin for the fourth quarter of 2025, compared to the prior linked quarter, was driven by market interest rates and the effect on interest income and expense compared to interest earning asset and interest bearing liability balances. The net interest margin increased in the fourth quarter of 2025, compared to the prior year like quarter, primarily due to the higher yielding consumer loans, including powersport, in the Bancorp Financial acquisition, higher security yields, and the decrease in average other short-term borrowings and the corresponding reduction in interest expense. See the discussion entitled "Non-GAAP Presentations" and the tables beginning on page 18 that provide a reconciliation of each non-GAAP measure to the most comparable GAAP equivalent.

------

#### Noninterest Income

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2025** | **December 31, 2025** |
| **Noninterest Income** | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Percent Change From** | **Percent Change From** |
| **(Dollars in thousands)** | **December 31,**  | **September 30,**  | **December 31,**  | **September 30,**  | **December 31,**  |
|  | **2025** | **2025** | **2024** | **2025** | **2024** |
| Wealth management | $3537 | $3515 | $3299 | 0.6 | 7.2 |
| Service charges on deposits | 2855 | 2920 | 2657 | (2.2) | 7.5 |
| Residential mortgage banking revenue |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secondary mortgage fees | 123 | 92 | 88 | 33.7 | 39.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSRs mark to market (loss) gain | (428) | (389) | 385 | (10.0) | (211.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage servicing income | 444 | 469 | 475 | (5.3) | (6.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sales of mortgage loans | 657 | 620 | 516 | 6.0 | 27.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total residential mortgage banking revenue | 796 | 792 | 1464 | 0.5 | (45.6) |
| Securities gains (losses), net | 8 | (1) | - | N/M | 100.0 |
| Change in cash surrender value of BOLI | 834 | 1175 | 767 | (29.0) | 8.7 |
| Death benefit realized on BOLI | - | 430 | - | (100.0) | - |
| Card related income | 2723 | 2768 | 2572 | (1.6) | 5.9 |
| Other income | 1401 | 1510 | 851 | (7.2) | 64.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest income** | $12154 | $13109 | $11610 | (7.3) | 4.7 |

---

N/M - *Not meaningful*

Noninterest income decreased $955,000, or 7.3%, in the fourth quarter of 2025, compared to the third quarter of 2025, and increased $544,000, or 4.7%, compared to the fourth quarter of 2024. The decrease from the third quarter of 2025 was primarily driven by a $341,000 decrease in the cash surrender value of BOLI due to changes in market interest rates as well as the annual amortization of the cash value enhancement cost related to the BOLI portfolio restructuring a few years ago. In addition, no death benefit on BOLI was realized during the fourth quarter of 2025, compared to $430,000 in the prior quarter.

The increase in noninterest income of $544,000 in the fourth quarter of 2025, compared to the fourth quarter of 2024, is primarily due to a $238,000 increase in wealth management income from growth in advisory, personal trust, and estate fees, a $198,000 increase in service charges on deposits, a $151,000 increase in card related income, and a $550,000 increase in other income primarily driven by powersport servicing fees. Partially offsetting the increase in noninterest income during the quarter was a $668,000 decrease in residential mortgage banking revenue mainly due to a $813,000 decrease in MSRs mark to market valuations.

------

#### Noninterest Expense

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  | **December 31, 2025** | **December 31, 2025** |
| **Noninterest Expense** | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  |  | **Percent Change From** | **Percent Change From** |
| **(Dollars in thousands)** | **December 31,**  | **September 30,**  | **December 31,**  |  | **September 30,**  | **December 31,**  |
|  | **2025** | **2025** | **2024** |  | **2025** | **2024** |
| Salaries  | $22426 | $31360 | $18130 |  | (28.5) | 23.7 |
| Officers' incentive | 3035 | 3279 | 3089 |  | (7.4) | (1.7) |
| Benefits and other | 5535 | 5084 | 4394 |  | 8.9 | 26.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total salaries and employee benefits | 30996 | 39723 | 25613 |  | (22.0) | 21.0 |
| Occupancy, furniture and equipment expense | 5092 | 4937 | 4457 |  | 3.1 | 14.2 |
| Computer and data processing | 4798 | 4002 | 2659 |  | 19.9 | 80.4 |
| FDIC insurance | 720 | 854 | 628 |  | (15.7) | 14.6 |
| Net teller & bill paying | 701 | 691 | 575 |  | 1.4 | 21.9 |
| General bank insurance | 354 | 437 | 327 |  | (19.0) | 8.3 |
| Amortization of core deposit intangible asset | 1235 | 1251 | 716 |  | (1.3) | 72.5 |
| Advertising expense | 299 | 545 | 280 |  | (45.1) | 6.8 |
| Card related expense | 1652 | 1708 | 1497 |  | (3.3) | 10.4 |
| Legal fees | 432 | 432 | 660 |  | - | (34.5) |
| Consulting & management fees | 518 | 2471 | 883 |  | (79.0) | (41.3) |
| Other real estate owned expense, net | 81 | 128 | 2019 |  | (36.7) | (96.0) |
| Other expense | 6057 | 5984 | 4008 |  | 1.2 | 51.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest expense** | $52935 | $63163 | $44322 |  | (16.2) | 19.4 |
| Efficiency ratio (GAAP)<sup>1</sup> | 53.98% | 64.46% | 57.12 | % |  |  |
| Adjusted efficiency ratio (non-GAAP)<sup>2</sup> | 51.28% | 52.10% | 54.61 | % |  |  |

---

<sup>1</sup> *The efficiency ratio shown in the table above is a GAAP financial measure calculated as noninterest expense, excluding amortization of core deposits and OREO expenses, divided by the sum of net interest income and total noninterest income less net gains or losses on securities, death benefit realized on BOLI, as applicable, and mark to market gains or losses on MSRs.*

<sup>2</sup> *The adjusted efficiency ratio shown in the table above is a non-GAAP financial measure calculated as noninterest expense, excluding amortization of core deposits, OREO expenses, and acquisition expenses, net of gain or loss on branch sales, divided by the sum of net interest income on a fully TE basis, total noninterest income less net gains or losses on securities, death benefit realized on BOLI, as applicable, mark to market gains or losses on MSRs, and includes a tax equivalent adjustment on the change in cash surrender value of BOLI. See the discussion entitled "Non-GAAP Presentations" below and the table on page 19 that provides a reconciliation of this non-GAAP financial measure to the most comparable GAAP equivalent.*

Noninterest expense for the fourth quarter of 2025 decreased $10.2 million, or 16.2%, compared to the third quarter of 2025, and increased $8.6 million, or 19.4%, compared to the fourth quarter of 2024. The decrease in the fourth quarter of 2025, compared to the linked quarter, was primarily attributable to an $8.7 million decrease in salaries and employee benefits, of which $8.4 million was due to change in control, retention, and severance payouts that were incurred in the third quarter related to the Bancorp Financial acquisition. The decrease in the fourth quarter of 2025 was also attributable to a $2.0 million decrease in consulting & management fees, which was primarily due to the timing of costs incurred as a result of our acquisition of Bancorp Financial.

The year over year increase in noninterest expense is primarily attributable to a $5.4 million increase in salaries and employee benefits, primarily due to the Bancorp Financial acquisition and the additional employees that were retained, along with increases in annual base salary rates, officers' incentives, and restricted stock expense in the fourth quarter of 2025. Also contributing to the increase was a $635,000 increase in occupancy, furniture and equipment, a $2.1 million increase in computer and data processing expenses, a $519,000 increase in core deposit intangible amortization, and a $2.0 million increase in other expense primarily due to costs associated with our acquisition of Bancorp Financial. Partially offsetting the increase in noninterest expense in the fourth quarter of 2025, compared to the fourth quarter of 2024, was a $1.9 million decrease in other real estate owned expense, net, as a $1.7 million OREO valuation reserve expense was recorded in the fourth quarter of 2024 based on valuation write downs on two OREO properties; no OREO valuation reserves were recorded in the fourth quarter of 2025.

------

#### Earning Assets

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2025** | **December 31, 2025** |
| **Loans** | **As of** | **As of** | **As of** | **Percent Change From** | **Percent Change From** |
| **(Dollars in thousands)** | **December 31,**  | **September 30,**  | **December 31,**  | **September 30,**  | **December 31,**  |
|  | **2025** | **2025** | **2024** | **2025** | **2024** |
| Commercial | $842130 | $786095 | $800476 | 7.1 | 5.2 |
| Leases  | 548256 | 550201 | 491748 | (0.4) | 11.5 |
| Commercial real estate – investor | 1212384 | 1257328 | 1078829 | (3.6) | 12.4 |
| Commercial real estate – owner occupied | 706567 | 680412 | 683283 | 3.8 | 3.4 |
| Construction | 173630 | 176387 | 201716 | (1.6) | (13.9) |
| Residential real estate – investor | 70225 | 69362 | 49598 | 1.2 | 41.6 |
| Residential real estate – owner occupied | 230432 | 231547 | 206949 | (0.5) | 11.3 |
| Multifamily | 339131 | 378213 | 351325 | (10.3) | (3.5) |
| HELOC | 235293 | 234885 | 103388 | 0.2 | 127.6 |
| Powersport | 696959 | 715498 | - | (2.6) | N/M |
| Other<sup>1</sup>  | 197124 | 184577 | 14024 | 6.8 | N/M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans** | $5252131 | $5264505 | $3981336 | (0.2) | 31.9 |

---

N/M - *Not meaningful*

<sup>1</sup> *Other class includes consumer loans, such as collector cars, manufactured homes, and solar loans, as well as overdrafts.*

Total loans decreased by $12.4 million at December 31, 2025, compared to September 30, 2025, and increased by $1.27 billion compared to December 31, 2024. The decrease from the prior quarter is primarily due to reductions of $44.9 million to commercial real estate – investor and $39.1 million to multifamily, offset by increases of $56.0 million to commercial and $26.2 million to commercial real estate – owner occupied. The increase to total loans compared to the prior year is primarily due to the $1.19 billion portfolio acquired from Bancorp Financial, which expanded our consumer lending and added the powersport segment. Excluding the acquisition, we achieved organic loan growth, net of paydowns, of $76.1 million, or 1.9%, in the fourth quarter of 2025 compared to the prior year like quarter, primarily driven by commercial, leases, and commercial real estate.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2025** | **December 31, 2025** |
| **Securities** | **As of** | **As of** | **As of** | **Percent Change From** | **Percent Change From** |
| **(Dollars in thousands)** | **December 31,**  | **September 30,**  | **December 31,**  | **September 30,**  | **December 31,**  |
|  | **2025** | **2025** | **2024** | **2025** | **2024** |
| **Securities available-for-sale, at fair value** |  |  |  |  |  |
| U.S. Treasury | $165860 | $190670 | $194143 | (13.0) | (14.6) |
| U.S. government agencies | 29176 | 38264 | 37814 | (23.8) | (22.8) |
| U.S. government agency mortgage-backed | 88780 | 93051 | 100277 | (4.6) | (11.5) |
| States and political subdivisions | 206375 | 210675 | 215456 | (2.0) | (4.2) |
| Collateralized mortgage obligations | 359305 | 378236 | 368616 | (5.0) | (2.5) |
| Asset-backed securities | 45816 | 47802 | 62303 | (4.2) | (26.5) |
| Collateralized loan obligations | 194464 | 198098 | 183092 | (1.8) | 6.2 |
| Equity securities | 747 | 684 | - | 9.2 | N/M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total securities available-for-sale** | $1090523 | $1157480 | $1161701 | (5.8) | (6.1) |

---

N/M - *Not meaningful*

Our securities available-for-sale portfolio totaled $1.09 billion as of December 31, 2025, reflecting a decrease of $67.0 million from September 30, 2025, and a decrease of $71.2 million from December 31, 2024. The portfolio continues to consist of high-quality fixed rate and floating rate securities, with more than 99% of publicly issued securities rated AA or better.

------

#### Asset Quality

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2025** | **December 31, 2025** |
| **Nonperforming assets** | **As of** | **As of** | **As of** | **Percent Change From** | **Percent Change From** |
| **(Dollars in thousands)** | **December 31,**  | **September 30,**  | **December 31,**  | **September 30,**  | **December 31,**  |
|  | **2025** | **2025** | **2024** | **2025** | **2024** |
| Nonaccrual loans | $47952 | $34126 | $28851 | 40.5 | 66.2 |
| Loans past due 90 days or more and still accruing interest | 4879 | 13859 | 1436 | (64.8) | 239.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming loans | 52831 | 47985 | 30287 | 10.1 | 74.4 |
| Other real estate owned | 1427 | 6416 | 21617 | (77.8) | (93.4) |
| Repossessed assets <sup>(1)</sup> | 1363 | 2088 | 484 | (34.7) | 181.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total nonperforming assets** | $55621 | $56489 | $52388 | (1.5) | 6.2 |
| 30-89 days past due loans and still accruing interest | $52169 | $22415 | $11702 |  |  |
| Nonaccrual loans to total loans | 0.9% | 0.6% | 0.7% |  |  |
| Nonperforming loans to total loans | 1.0% | 0.9% | 0.8% |  |  |
| Nonperforming assets to total loans plus OREO and repossessed assets | 1.1% | 1.1% | 1.3% |  |  |
| Purchased credit-deteriorated loans to total loans | 1.5% | 1.6% | 0.4% |  |  |
| Allowance for credit losses | $72301 | $75037 | $43619 |  |  |
| Allowance for credit losses to total loans | 1.4% | 1.4% | 1.1% |  |  |
| Allowance for credit losses to nonaccrual loans | 150.8% | 219.9% | 151.2% |  |  |

---

<sup>1</sup> *Repossessed assets are reported in other assets.*

Nonperforming loans consist of nonaccrual loans and loans 90 days or more past due and still accruing interest. Purchased credit-deteriorated ("PCD") loans acquired, primarily in our acquisitions of West Suburban and Bancorp Financial, totaled $78.6 million, net of purchase accounting adjustments, at December 31, 2025. No PCD loans were acquired with our FRME branch acquisition. PCD loans that meet the definition of nonperforming loans are included in our nonperforming disclosures.

The following table shows classified loans by segment, which include nonaccrual loans, PCD loans if the risk rating so indicates, and all other loans considered substandard, for the following periods.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **December 31, 2025** | **December 31, 2025** |
| **Classified loans** | **As of** | **As of** | **As of** | **Percent Change From** | **Percent Change From** |
| **(Dollars in thousands)** | **December 31,**  | **September 30,**  | **December 31,**  | **September 30,**  | **December 31,**  |
|  | **2025** | **2025** | **2024** | **2025** | **2024** |
| Commercial | $51587 | $50680 | $24748 | 1.8 | 108.4 |
| Leases | 2428 | 1277 | 523 | 90.1 | 364.2 |
| Commercial real estate – investor | 14245 | 2853 | 14489 | 399.3 | (1.7) |
| Commercial real estate – owner occupied | 64081 | 72020 | 27619 | (11.0) | 132.0 |
| Construction | 11421 | 1612 | 19351 | 608.5 | (41.0) |
| Residential real estate – investor | 1142 | 1228 | 1690 | (7.0) | (32.4) |
| Residential real estate – owner occupied | 1897 | 1839 | 1851 | 3.2 | 2.5 |
| Multifamily  | 1494 | 1183 | 1165 | 26.3 | 28.2 |
| HELOC | 1466 | 1538 | 547 | (4.7) | 168.0 |
| Powersport | 68 | - | - | N/M | N/M |
| Other<sup>1</sup> | 270 | 30 | 10 | 800.0 | N/M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total classified loans** | $150099 | $134260 | $91993 | 11.8 | 63.2 |

---

N/M - *Not meaningful.*

<sup>1</sup> *Other class includes consumer loans such as collector cars, manufactured homes, solar loans, and overdrafts.*

------

Classified loans as of December 31, 2025 increased $15.8 million from September 30, 2025, and increased $58.1 million from December 31, 2024. The net increase from the third quarter of 2025 included inflows of $42.4 million, mostly driven by downgrades of nine commercial relationships for $12.1 million, two commercial real estate – investor relationships for $11.4 million, and one construction relationship for $9.7 million. The increase of classified loans in the fourth quarter of 2025 were offset by $26.5 million of outflows, which primarily consist of $24.4 million of paid off loans, and $2.0 million of principal payment reductions. Remediation work continues on these credits, with the goal of cash flow improvements with increased tenancy within commercial real estate.

**Allowance for Credit Losses on Loans and Unfunded Commitments**

At December 31, 2025, our allowance for credit losses ("ACL") on loans totaled $72.3 million, and our ACL on unfunded commitments, included in other liabilities, totaled $2.1 million. In relation to the acquisition, in the third quarter of 2025, we recorded a day one purchase accounting credit mark of $17.5 million and a day two non-PCD provision expense of $13.2 million based on our assessment of the acquired loans. The fourth quarter of 2025 standard provision expense consisted of a $3.2 million provision for credit losses on loans, and a $245,000 reversal of provision for credit losses on unfunded commitments. The increase to the provision for credit losses for the fourth quarter of 2025 is driven by current period charge-offs, primarily within the powersport and commercial real estate – owner occupied portfolios, as well as a downgrade to substandard on one large commercial real estate credit. The decrease in ACL on unfunded commitments was primarily due to an adjustment to historical benchmark assumptions, such as funding rates and the period used to forecast those rates, within the ACL calculation.

We recorded net charge-offs of $6.0 million in the fourth quarter of 2025, primarily within the powersport portfolio. The third quarter of 2025 provision expense of $6.5 million consisted of a $6.5 million provision for credit losses on loans, and $38,000 provision for credit losses on unfunded commitments in addition to the Day 2 provision of $13.2 million. We recorded net charge-offs of $5.1 million in the third quarter of 2025. In the fourth quarter of 2024, we recorded a provision expense of $3.5 million, which consisted of a $4.1 million provision for credit losses on loans and a $600,000 reversal of provision for credit losses on unfunded commitments. We recorded net charge offs of $4.9 million in the fourth quarter of 2024. Our ACL on loans to total loans was 1.4% as of December 31, 2025 and September 30, 2025, and 1.1% December 31, 2024.

The ACL on unfunded commitments totaled $2.1 million as of December 31, 2025, $2.3 million as of September 30, 2025, and $1.9 million as of December 31, 2024.

**Net Charge-off Summary**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Loan charge–offs, net of recoveries** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** |
| **(Dollars in thousands)** | **December 31,**  | **% of**  | **September 30,**  | **% of**  | **December 31,**  | **% of**  |
|  | **2025** | **Total** <sup>2</sup> | **2025** | **Total** <sup>2</sup> | **2024** | **Total** <sup>2</sup> |
| Commercial | $(44) | (0.7) | $385 | 7.5 | $8621 | 176.1 |
| Leases  | 15 | 0.2 | 848 | 16.6 | (38) | (0.8) |
| Commercial real estate – Investor | (14) | (0.2) | (15) | (0.3) | (173) | (3.5) |
| Commercial real estate – Owner occupied | 1125 | 18.8 | (2) | - | (3739) | (76.4) |
| Construction | - | - | (46) | (0.9) | - | - |
| Residential real estate – Investor | (1) | - | (2) | - | (2) | - |
| Residential real estate – Owner occupied | (11) | (0.2) | (7) | (0.1) | 234 | 4.8 |
| Multifamily | - | - | 181 | 3.5 | - | - |
| HELOC | (49) | (0.8) | (19) | (0.4) | (45) | (0.9) |
| Powersport | 4466 | 74.7 | 2980 | 58.3 | - | - |
| Other <sup>1</sup> | 494 | 8.2 | 805 | 15.8 | 37 | 0.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net charge–offs / (recoveries)**  | $5981 | 100.0 | $5108 | 100.0 | $4895 | 100.0 |

---

<sup>1</sup> *Other class includes consumer loans, such as collector cars and solar loans, and overdrafts.*

<sup>2</sup> *Represents the percentage of net charge-offs attributable to each category of loans.*

Gross charge-offs for the fourth quarter of 2025 were $6.9 million, compared to $6.0 million for the third quarter of 2025 and $8.9 million for the fourth quarter of 2024. Gross recoveries were $875,000 for the fourth quarter of 2025, mostly comprised from powersport for $670,000, compared to $938,000 for the third quarter of 2025, driven by $705,000 powersport recoveries, and $4.1 million for the fourth quarter of 2024, which was mostly driven by $3.5 million of recoveries in commercial real estate – owner occupied. Continued recoveries are indicative of the ongoing aggressive efforts by management to effectively manage and resolve prior charge-offs, however, recoveries cannot be forecasted or expected at the same pace in the future.

------

**Deposits**

Total deposits were $5.60 billion at December 31, 2025, a decrease of $164.2 million, or 2.9%, compared to $5.76 billion at September 30, 2025. This decline was driven primarily due to decreases in savings accounts of $21.1 million, money market accounts of $29.3 million, and time deposits of $146.8 million due to the roll off of higher rate brokered deposits and other exception-priced time deposits acquired from the Bancorp Financial acquisition. These decreases were partially offset by increases in NOW accounts of $31.9 million. We continue to allow exception priced deposits, mainly time deposits, and brokered deposits run off over time.

Total quarterly average deposits for the year over year period increased $1.13 billion, or 24.5%, driven by an increase in average time deposits of $488.0 million, NOW and money markets combined of $345.6 million, savings accounts of $223.4 million, and demand deposits of $69.3 million. The overall increase in quarterly average deposits for the year over year period was primarily due to the acquisition of Bancorp Financial in July 2025. Our quarterly average time deposits as of December 31, 2025 include $68.6 million of brokered deposits, compared to none at December 31, 2024. These brokered deposits were assumed with the acquisition of Bancorp Financial and are running off over the next few years.

**Borrowings**

As of December 31, 2025, we had $215.0 million in other short-term borrowings, compared to $165.0 million in short-term borrowings as of September 30, 2025 and $20.0 million as of December 31, 2024, all of which were short-term FHLB advances. In addition, we had $14.8 million of long-term FHLB advances, net of purchase accounting adjustments, assumed with the Bancorp Financial acquisition, which are reported in notes payable and other borrowings on the balance sheet.

**Non-GAAP Presentations**

Management has disclosed in this earnings release certain non-GAAP financial measures to evaluate and measure our performance, including the presentation of adjusted net income, net interest income and net interest margin on a fully taxable equivalent basis, and our efficiency ratio calculations on a taxable equivalent basis. The net interest margin fully taxable equivalent is calculated by dividing net interest income on a tax equivalent basis by average earning assets for the period. Consistent with industry practice, management has disclosed the efficiency ratio including and excluding certain items, which is discussed in the noninterest expense presentation on page 8.

We consider the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and useful in evaluating period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain expenditures or assets that we believe are not indicative of our primary business operating results or by presenting certain metrics on a fully taxable equivalent basis. We believe these measures provide investors with information regarding balance sheet profitability, and we believe that management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, analyzing, and comparing past, present and future periods.

These non-GAAP financial measures should not be considered as a substitute for GAAP financial measures, and we strongly encourage investors to review the GAAP financial measures included in this earnings release and not to place undue reliance upon any single financial measure. In addition, because non-GAAP financial measures are not standardized, it may not be possible to compare the non-GAAP financial measures presented in this earnings release with other companies' non-GAAP financial measures having the same or similar names. The tables beginning on page 18 provide a reconciliation of each non-GAAP financial measure to the most comparable GAAP equivalent.

------

<u>Cautionary Note Regarding Forward</u><u>-</u><u>Looking Statement</u>***s***

This earnings release and statements by our management may contain forward-looking statements within the Private Securities Litigation Reform Act of 1995. Forward looking statements can be identified by words such as "should," "anticipate," "expect," "estimate," "intend," "believe," "may," "likely," "will," "forecast," "project," "looking forward," "optimistic," "hopeful," "potential," "progress," "prospect," "remain," "deliver," "continue," "trend," "momentum," "remainder," "beyond," "build," and "near" or other statements that indicate future periods, such as "positioning" or "integration". Examples of forward-looking statements include, but are not limited to, statements regarding the economic outlook, balance sheet growth, building capital, and statements regarding the anticipated strategic and financial benefits of our acquisition of Bancorp Financial, including integration progress and competitive positioning. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements, (1) the strength of the United States economy in general and the strength of the local economies in which we conduct our operations may be different than expected; (2) the rate of delinquencies and amounts of charge-offs, the level of allowance for credit loss, the rates of loan growth, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (3) changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action; (4) risks related to future acquisitions, if any, including execution and integration risks; (5) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could have a negative impact on us; (6) changes in interest rates, which have and may continue to affect our deposit and funding costs, net income, prepayment penalty income, mortgage banking income, and other future cash flows, or the market value of our assets, including our investment securities; (7) elevated inflation which causes adverse risk to the overall economy, and could indirectly pose challenges to our clients and to our business; and (8) the adverse effects of events beyond our control that may have a destabilizing effect on financial markets and the economy, such as government shutdowns, trade disputes, epidemics and pandemics, war or terrorist activities, essential utility outages, deterioration in the global economy, instability in the credit markets, disruptions in our customers' supply chains or disruption in transportation, and disruptions caused from widespread cybersecurity incidents. Additional risks and uncertainties are contained in the "Risk Factors" and forward-looking statements disclosure in our most recent Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q. The inclusion of this forward-looking information should not be construed as a representation by us or any person that future events, plans, or expectations contemplated by us will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

<u>Conference Call</u>

We will host a call on Thursday, January 22, 2026, at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) to discuss our fourth quarter 2025 financial results. Investors may listen to our earnings call via a live webcast by accessing the link provided below, or alternatively, on the Events section of the Old Second Investor Relations website (https://investors.oldsecond.com/events). Investors are encouraged to register at the webcast link at least 10 minutes prior to the scheduled start of the call.

Webcast URL: https://www.webcaster5.com/Webcast/Page/2239/53419

A replay of the webcast will be available under the Events section of the Old Second Investor Relations website (https://investors.oldsecond.com/events) for up to one year after the earnings call date.

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**Old Second Bancorp, Inc. and Subsidiaries**

**Consolidated Balance Sheets**

*(In thousands)*

---

| | | |
|:---|:---|:---|
|  | **(unaudited)**<br>**December 31,** <br>**2025** | <br>**December 31,** <br>**2024** |
| **Assets** |  |  |
| Cash and due from banks | $51665 | $52175 |
| Interest earning deposits with financial institutions | 72360 | 47154 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 124025 | 99329 |
| Securities available-for-sale, at fair value | 1090523 | 1161701 |
| Federal Home Loan Bank Chicago ("FHLBC") and Federal Reserve Bank Chicago ("FRBC") stock | 32025 | 19441 |
| Loans held-for-sale | 3645 | 1556 |
| Loans | 5252131 | 3981336 |
| Less: allowance for credit losses on loans | 72301 | 43619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans | 5179830 | 3937717 |
| Premises and equipment, net | 86645 | 87311 |
| Other real estate owned | 1427 | 21617 |
| Mortgage servicing rights, at fair value | 9459 | 10374 |
| Goodwill | 129196 | 93260 |
| Core deposit intangible ("CDI") | 23692 | 22031 |
| Bank-owned life insurance ("BOLI") | 130481 | 112751 |
| Deferred tax assets, net | 31276 | 26619 |
| Other assets | 60451 | 55670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $6902675 | $5649377 |
| **Liabilities** |  |  |
| Deposits: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest bearing demand | $1739117 | $1704920 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest bearing: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Savings, NOW, and money market | 2745540 | 2315134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time | 1111412 | 748677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 5596069 | 4768731 |
| Securities sold under repurchase agreements | 23769 | 36657 |
| Other short-term borrowings | 215000 | 20000 |
| Junior subordinated debentures | 25774 | 25773 |
| Subordinated debentures | 59552 | 59467 |
| Notes payable and other borrowings | 14825 | - |
| Other liabilities | 70918 | 67715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6005907 | 4978343 |
| **Stockholders' Equity** |  |  |
| Common stock | 53015 | 44908 |
| Additional paid-in capital | 341451 | 205284 |
| Retained earnings | 537231 | 469165 |
| Accumulated other comprehensive loss, net | (28738) | (47748) |
| Treasury stock | (6191) | (575) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 896768 | 671034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $6902675 | $5649377 |

---

------

**Old Second Bancorp, Inc. and Subsidiaries**

**Consolidated Statements of Income**

*(In thousands, except share data)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **(unaudited)** | **(unaudited)** | **(unaudited)** | **(unaudited)** |
|  | **Three Months Ended December 31,**  | **Three Months Ended December 31,**  | **Year Ended December 31,**  | **Year Ended December 31,**  |
|  | **2025** | **2024** | **2025** | **2024** |
| **Interest and dividend income** |  |  |  |  |
| Loans, including fees | $90925 | $63967 | $305775 | $253319 |
| Loans held-for-sale | 35 | 34 | 127 | 94 |
| Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | 9136 | 8899 | 38194 | 34656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax exempt | 1219 | 1275 | 4943 | 5164 |
| Dividends from FHLBC and FRBC stock | 390 | 562 | 1517 | 2278 |
| Interest bearing deposits with financial institutions | 598 | 542 | 4625 | 2393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 102303 | 75279 | 355181 | 297904 |
| **Interest expense** |  |  |  |  |
| Savings, NOW, and money market deposits | 7906 | 4652 | 27468 | 17866 |
| Time deposits | 8665 | 5606 | 28898 | 20147 |
| Securities sold under repurchase agreements | 45 | 75 | 229 | 337 |
| Other short-term borrowings | 1644 | 2527 | 1969 | 14607 |
| Junior subordinated debentures | 288 | 289 | 1152 | 1127 |
| Subordinated debentures | 546 | 546 | 2185 | 2185 |
| Notes payable and other borrowings | 158 | - | 316 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 19252 | 13695 | 62217 | 56269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest and dividend income | 83051 | 61584 | 292964 | 241635 |
| Provision for credit losses | 3000 | 3500 | 27553 | 12750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest and dividend income after provision for credit losses | 80051 | 58084 | 265411 | 228885 |
| **Noninterest income** |  |  |  |  |
| Wealth management | 3537 | 3299 | 13244 | 11426 |
| Service charges on deposits | 2855 | 2657 | 11282 | 10226 |
| Secondary mortgage fees | 123 | 88 | 372 | 287 |
| Mortgage servicing rights mark to market (loss) gain | (428) | 385 | (1918) | (723) |
| Mortgage servicing income | 444 | 475 | 1865 | 1942 |
| Net gain on sales of mortgage loans | 657 | 516 | 2291 | 1805 |
| Securities gains, net | 8 | - | 7 | - |
| Change in cash surrender value of BOLI | 834 | 767 | 3197 | 3619 |
| Death benefit realized on BOLI | - | - | 430 | 905 |
| Card related income | 2723 | 2572 | 10619 | 10114 |
| Other income | 1401 | 851 | 4973 | 4218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 12154 | 11610 | 46362 | 43819 |
| **Noninterest expense** |  |  |  |  |
| Salaries and employee benefits | 30996 | 25613 | 124662 | 98025 |
| Occupancy, furniture and equipment | 5092 | 4457 | 19054 | 16159 |
| Computer and data processing | 4798 | 2659 | 13840 | 9473 |
| FDIC insurance | 720 | 628 | 2844 | 2543 |
| Net teller & bill paying | 701 | 575 | 2720 | 2244 |
| General bank insurance | 354 | 327 | 1449 | 1268 |
| Amortization of core deposit intangible | 1235 | 716 | 4545 | 2440 |
| Advertising expense | 299 | 280 | 1331 | 1243 |
| Card related expense | 1652 | 1497 | 6229 | 5555 |
| Legal fees | 432 | 660 | 1724 | 1326 |
| Consulting & management fees | 518 | 883 | 3942 | 2496 |
| Other real estate expense, net | 81 | 2019 | 2117 | 2220 |
| Other expense | 6057 | 4008 | 19565 | 14756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 52935 | 44322 | 204022 | 159748 |
| Income before income taxes | 39270 | 25372 | 107751 | 112956 |
| Provision for income taxes | 10483 | 6262 | 27441 | 27692 |
| **Net income** | $28787 | $19110 | $80310 | $85264 |
| Basic earnings per share | $0.55 | $0.42 | $1.64 | $1.90 |
| Diluted earnings per share | 0.54 | 0.42 | 1.62 | 1.87 |
| Dividends declared per share | 0.07 | 0.06 | 0.25 | 0.21 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Ending common shares outstanding | 52,669,224 | 44,873,467 | 52,669,224 | 44,873,467 |
| Weighted-average basic shares outstanding | 52,667,899 | 44,856,870 | 48,875,540 | 44,828,290 |
| Weighted-average diluted shares outstanding | 53,480,431 | 45,671,352 | 49,669,539 | 45,639,351 |

---

------

**Old Second Bancorp, Inc. and Subsidiaries**

**Quarterly Consolidated Average Balance** 

*(In thousands, unaudited)*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
| **Assets** | **4th Qtr** | **3rd Qtr** | **2nd Qtr** | **1st Qtr** | **4th Qtr** | **3rd Qtr** | **2nd Qtr** | **1st Qtr** |
| Cash and due from banks | $52040 | $51357 | $47875 | $52550 | $54340 | $54279 | $54286 | $54533 |
| Interest earning deposits with financial institutions | 66430 | 119619 | 166366 | 97645 | 49757 | 48227 | 50740 | 48088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 118470 | 170976 | 214241 | 150195 | 104097 | 102506 | 105026 | 102621 |
| Securities available-for-sale, at fair value | 1129633 | 1165900 | 1190123 | 1181257 | 1180024 | 1173948 | 1179430 | 1182888 |
| FHLBC and FRBC stock | 30085 | 25961 | 19200 | 19441 | 27493 | 30268 | 27574 | 31800 |
| Loans held-for-sale | 3254 | 1975 | 2375 | 1343 | 2027 | 1557 | 1050 | 746 |
| Loans | 5275389 | 5215374 | 3958275 | 3957730 | 4001014 | 3965160 | 3957454 | 4018631 |
| Less: allowance for credit losses on loans | 73718 | 72354 | 41544 | 43543 | 45040 | 42683 | 43468 | 44295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans | 5201671 | 5143020 | 3916731 | 3914187 | 3955974 | 3922477 | 3913986 | 3974336 |
| Premises and equipment, net | 87449 | 88304 | 87081 | 87709 | 84364 | 82977 | 82332 | 80493 |
| Other real estate owned | 4410 | 6464 | 2099 | 13388 | 20136 | 7471 | 4657 | 5123 |
| Mortgage servicing rights, at fair value | 9490 | 9632 | 9856 | 10211 | 10060 | 10137 | 10754 | 10455 |
| Goodwill | 130135 | 127873 | 93232 | 93253 | 88320 | 86477 | 86477 | 86477 |
| Core deposit intangible | 24281 | 25539 | 20462 | 21490 | 12799 | 9768 | 10340 | 10913 |
| Bank-owned life insurance ("BOLI") | 130151 | 128870 | 113326 | 112848 | 112243 | 110901 | 110440 | 109867 |
| Deferred tax assets, net | 32705 | 30375 | 23549 | 25489 | 23549 | 25666 | 32969 | 31323 |
| Other assets | 58443 | 74364 | 44431 | 43506 | 43457 | 50989 | 50423 | 49681 |
| Total other assets | 477064 | 491421 | 394036 | 407894 | 394928 | 384386 | 388392 | 384332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $6960177 | $6999253 | $5736706 | $5674317 | $5664543 | $5615142 | $5615458 | $5676723 |
| **Liabilities** |  |  |  |  |  |  |  |  |
| Deposits: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Noninterest bearing demand | $1781374 | $1782193 | $1729287 | $1703382 | $1712106 | $1691450 | $1769543 | $1819476 |
| &nbsp;&nbsp;Interest bearing: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings, NOW, and money market | 2764609 | 2798414 | 2424947 | 2370408 | 2195608 | 2142307 | 2195898 | 2202485 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time | 1179966 | 1347455 | 695946 | 725314 | 692001 | 651663 | 610705 | 558463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 5725949 | 5928062 | 4850180 | 4799104 | 4599715 | 4485420 | 4576146 | 4580424 |
| Securities sold under repurchase agreements | 23464 | 33382 | 35419 | 34529 | 39982 | 45420 | 37430 | 30061 |
| Other short-term borrowings | 159565 | 25978 | - | 1444 | 204783 | 305489 | 242912 | 332198 |
| Junior subordinated debentures | 25774 | 25774 | 25773 | 25773 | 25773 | 25773 | 25773 | 25773 |
| Subordinated debentures | 59542 | 59521 | 59500 | 59478 | 59457 | 59436 | 59414 | 59393 |
| Notes payable and other borrowings | 14819 | 14806 | - | - | - | - | - | - |
| Other liabilities | 67078 | 61732 | 59580 | 70411 | 66952 | 54453 | 68530 | 60024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6076191 | 6149255 | 5030452 | 4990739 | 4996662 | 4975991 | 5010205 | 5087873 |
| **Stockholders' equity** |  |  |  |  |  |  |  |  |
| Common stock | 53015 | 53015 | 45094 | 45028 | 44908 | 44908 | 44908 | 44787 |
| Additional paid-in capital | 340870 | 339612 | 205706 | 205433 | 205356 | 204558 | 203654 | 202688 |
| Retained earnings | 526910 | 500075 | 497224 | 479011 | 462631 | 443435 | 424262 | 405201 |
| Accumulated other comprehensive loss | (30594) | (36823) | (41080) | (44853) | (44251) | (52907) | (66682) | (63365) |
| Treasury stock | (6215) | (5881) | (690) | (1041) | (763) | (843) | (889) | (461) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 883986 | 849998 | 706254 | 683578 | 667881 | 639151 | 605253 | 588850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $6960177 | $6999253 | $5736706 | $5674317 | $5664543 | $5615142 | $5615458 | $5676723 |
| Total Earning Assets | $6504791 | $6528829 | $5336339 | $5257416 | $5260315 | $5219160 | $5216248 | $5282153 |
| Total Interest Bearing Liabilities | 4227739 | 4305330 | 3241585 | 3216946 | 3217604 | 3230088 | 3172132 | 3208373 |

---

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**Old Second Bancorp, Inc. and Subsidiaries**

**Quarterly Consolidated Statements of Income**

*(In thousands, except per share data, unaudited*)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  | **4th Qtr** | **3rd Qtr** | **2nd Qtr** | **1st Qtr** | **4th Qtr** | **3rd Qtr** | **2nd Qtr** | **1st Qtr** |
| **Interest and Dividend Income**  |  |  |  |  |  |  |  |  |
| Loans, including fees | $90925 | $91301 | $61954 | $61595 | $63967 | $64528 | $62151 | $62673 |
| Loans held-for-sale | 35 | 31 | 39 | 22 | 34 | 27 | 19 | 14 |
| Securities: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Taxable | 9136 | 9872 | 9959 | 9227 | 8899 | 9113 | 8552 | 8092 |
| &nbsp;&nbsp;Tax exempt | 1219 | 1235 | 1229 | 1260 | 1275 | 1291 | 1292 | 1306 |
| Dividends from FHLB and FRBC stock | 390 | 381 | 273 | 473 | 562 | 497 | 584 | 635 |
| Interest bearing deposits with financial institutions | 598 | 1255 | 1784 | 988 | 542 | 616 | 625 | 610 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest and dividend income | 102303 | 104075 | 75238 | 73565 | 75279 | 76072 | 73223 | 73330 |
| **Interest Expense** |  |  |  |  |  |  |  |  |
| Savings, NOW, and money market deposits | 7906 | 9043 | 5606 | 4913 | 4652 | 4860 | 4317 | 4037 |
| Time deposits | 8665 | 10896 | 4508 | 4829 | 5606 | 5539 | 4961 | 4041 |
| Securities sold under repurchase agreements | 45 | 60 | 56 | 68 | 75 | 93 | 83 | 86 |
| Other short-term borrowings | 1644 | 308 | - | 17 | 2527 | 4185 | 3338 | 4557 |
| Junior subordinated debentures | 288 | 288 | 288 | 288 | 289 | 270 | 288 | 280 |
| Subordinated debentures | 546 | 547 | 546 | 546 | 546 | 547 | 546 | 546 |
| Notes payable and other borrowings | 158 | 158 | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 19252 | 21300 | 11004 | 10661 | 13695 | 15494 | 13533 | 13547 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest and dividend income | 83051 | 82775 | 64234 | 62904 | 61584 | 60578 | 59690 | 59783 |
| Provision for credit losses | 3000 | 19653 | 2500 | 2400 | 3500 | 2000 | 3750 | 3500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest and dividend income after provision for credit losses | 80051 | 63122 | 61734 | 60504 | 58084 | 58578 | 55940 | 56283 |
| **Noninterest Income** |  |  |  |  |  |  |  |  |
| Wealth management | 3537 | 3515 | 3103 | 3089 | 3299 | 2787 | 2779 | 2561 |
| Service charges on deposits | 2855 | 2920 | 2788 | 2719 | 2657 | 2646 | 2508 | 2415 |
| Secondary mortgage fees | 123 | 92 | 84 | 73 | 88 | 84 | 65 | 50 |
| Mortgage servicing rights mark to market (loss) gain | (428) | (389) | (531) | (570) | 385 | (964) | (238) | 94 |
| Mortgage servicing income | 444 | 469 | 472 | 480 | 475 | 466 | 513 | 488 |
| Net gain on sales of mortgage loans | 657 | 620 | 550 | 464 | 516 | 507 | 468 | 314 |
| Securities gains (losses), net | 8 | (1) | - | - | - | (1) | - | 1 |
| Change in cash surrender value of BOLI | 834 | 1175 | 690 | 498 | 767 | 860 | 820 | 1172 |
| Death benefit realized on BOLI | - | 430 | - | - | - | 12 | 893 | - |
| Card related income | 2723 | 2768 | 2716 | 2412 | 2572 | 2589 | 2577 | 2376 |
| Other income | 1401 | 1510 | 1026 | 1036 | 851 | 1595 | 742 | 1030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 12154 | 13109 | 10898 | 10201 | 11610 | 10581 | 11127 | 10501 |
| **Noninterest Expense** |  |  |  |  |  |  |  |  |
| Salaries and employee benefits | 30996 | 39723 | 26950 | 26993 | 25613 | 24676 | 23424 | 24312 |
| Occupancy, furniture and equipment | 5092 | 4937 | 4477 | 4548 | 4457 | 3876 | 3899 | 3927 |
| Computer and data processing | 4798 | 4002 | 2692 | 2348 | 2659 | 2375 | 2184 | 2255 |
| FDIC insurance | 720 | 854 | 642 | 628 | 628 | 632 | 616 | 667 |
| Net teller & bill paying | 701 | 691 | 670 | 658 | 575 | 570 | 578 | 521 |
| General bank insurance | 354 | 437 | 328 | 330 | 327 | 320 | 312 | 309 |
| Amortization of core deposit intangible | 1235 | 1251 | 1022 | 1037 | 716 | 570 | 574 | 580 |
| Advertising expense | 299 | 545 | 320 | 167 | 280 | 299 | 472 | 192 |
| Card related expense | 1652 | 1708 | 1489 | 1380 | 1497 | 1458 | 1323 | 1277 |
| Legal fees | 432 | 432 | 388 | 472 | 660 | 202 | 238 | 226 |
| Consulting & management fees | 518 | 2471 | 527 | 426 | 883 | 480 | 797 | 336 |
| Other real estate expense, net | 81 | 128 | 35 | 1873 | 2019 | 242 | (87) | 46 |
| Other expense | 6057 | 5984 | 3879 | 3645 | 4008 | 3608 | 3547 | 3593 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 52935 | 63163 | 43419 | 44505 | 44322 | 39308 | 37877 | 38241 |
| Income before income taxes | 39270 | 13068 | 29213 | 26200 | 25372 | 29851 | 29190 | 28543 |
| Provision for income taxes | 10483 | 3197 | 7391 | 6370 | 6262 | 6900 | 7299 | 7231 |
| **Net income** | $28787 | $9871 | $21822 | $19830 | $19110 | $22951 | $21891 | $21312 |
| Basic earnings per share (GAAP) | $0.55 | $0.19 | $0.49 | $0.44 | $0.42 | $0.52 | $0.48 | $0.48 |
| Diluted earnings per share (GAAP) | 0.54 | 0.18 | 0.48 | 0.43 | 0.42 | 0.50 | 0.48 | 0.47 |
| Dividends paid per share | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 |

---

------

**Reconciliation of Non-GAAP Financial Measures**

The tables below provide a reconciliation of each non-GAAP financial measure to the most comparable GAAP measure for the periods indicated. Dollar amounts below in thousands:

---

| | | | |
|:---|:---|:---|:---|
|  | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** |
|  | **December 31,** <br>**2025** | **September 30,** <br>**2025** | **December 31,** <br>**2024** |
| **Net Income** |  |  |  |
| Income before income taxes (GAAP) | $39270 | $13068 | $25372 |
| Pre-tax income adjustments: |  |  |  |
| &nbsp;&nbsp;Provision for credit losses - Day Two | - | 13153 | - |
| &nbsp;&nbsp;Securities (gains) losses, net | (8) | 1 | - |
| &nbsp;&nbsp;Death benefit related to BOLI | - | (430) | - |
| &nbsp;&nbsp;MSR losses (gains) | 428 | 389 | (385) |
| &nbsp;&nbsp;Acquisition related costs, net of losses on branch sales | 2296 | 11508 | 1521 |
| &nbsp;&nbsp;Adjusted net income before taxes | 41986 | 37689 | 26508 |
| Taxes on adjusted net income <sup>1</sup> | 11208 | 9326 | 6542 |
| Adjusted net income (non-GAAP) | $30778 | $28363 | $19966 |
| Basic earnings per share (GAAP) | $0.55 | $0.19 | $0.40 |
| Diluted earnings per share (GAAP) | 0.54 | 0.18 | 0.40 |
| Adjusted basic earnings per share (non-GAAP) | 0.59 | 0.54 | 0.45 |
| Adjusted diluted earnings per share (non-GAAP) | 0.58 | 0.53 | 0.44 |
| Total average assets | 6960177 | 6999253 | 5664543 |
| &nbsp;&nbsp;Return on average assets (GAAP) | 1.64% | 0.56% | 1.34% |
| &nbsp;&nbsp;Adjusted return on average assets (non-GAAP) | 1.75 | 1.61 | 1.40 |

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<sup>1</sup> *Adjusted net income for the quarter ended September 30, 2025 uses a blended income tax rate of 24.74%, which is slightly higher than the effective tax rate utilized for GAAP earnings due to the tax treatment of certain acquisition related costs.*

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| | | | |
|:---|:---|:---|:---|
|  | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** |
|  | **December 31,** <br>**2025** | **September 30,** <br>**2025** | **December 31,** <br>**2024** |
| **Net Interest Margin** |  |  |  |
| Interest income (GAAP) | $102303 | $104075 | $75279 |
| Taxable-equivalent adjustment: |  |  |  |
| &nbsp;&nbsp;Loans | 9 | 10 | 11 |
| &nbsp;&nbsp;Securities | 324 | 328 | 339 |
| &nbsp;&nbsp;Interest income (TE) | 102636 | 104413 | 75629 |
| Interest expense (GAAP) | 19252 | 21300 | 13695 |
| Net interest income (TE) | $83384 | $83113 | $61934 |
| Net interest income (GAAP) | $83051 | $82775 | $61584 |
| Average interest earning assets | $6504791 | $6528829 | $5260315 |
| &nbsp;&nbsp;Net interest margin (TE) | 5.09% | 5.05% | 4.68% |
| &nbsp;&nbsp;Net interest margin (GAAP) | 5.07% | 5.03% | 4.66% |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **GAAP** | **GAAP** | **GAAP** | **GAAP** | **Non-GAAP** | **Non-GAAP** | **Non-GAAP** | **Non-GAAP** | **Non-GAAP** |
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  |
|  | | |  | | |  | | **December 31,**  | **December 31,**  |
|  | **December 31,** <br>**2025** | **September 30,** <br>**2025** |  | **December 31,** <br>**2024** | **December 31,** <br>**2025** |  | **September 30,** <br>**2025** | **2024** | **2024** |
| **Efficiency Ratio / Adjusted Efficiency Ratio** |  |  |  |  |  |  |  |  |  |
| Noninterest expense  | $52935 | $63163 |  | $44322 | $52935 |  | $63163 |  | $44322 |
| &nbsp;&nbsp;Less amortization of core deposit  | 1235 | 1251 |  | 716 | 1235 |  | 1251 |  | 716 |
| &nbsp;&nbsp;Less other real estate expense, net  | 81 | 128 |  | 2019 | 81 |  | 128 |  | 2019 |
| &nbsp;&nbsp;Less acquisition related costs, net of losses on branch sales | N/A | N/A |  | N/A | 2296 |  | 11508 |  | 1521 |
| Noninterest expense less adjustments | $51619 | $61784 |  | $41587 | $49323 |  | $50276 |  | $40066 |
| Net interest income  | $83051 | $82775 |  | $61584 | $83051 |  | $82775 |  | $61584 |
| Taxable-equivalent adjustment: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Loans | N/A | N/A |  | N/A | 9 |  | 10 |  | 11 |
| &nbsp;&nbsp;Securities | N/A | N/A |  | N/A | 324 |  | 328 |  | 339 |
| Net interest income including adjustments | 83051 | 82775 |  | 61584 | 83384 |  | 83113 |  | 61934 |
| Noninterest income | 12154 | 13109 |  | 11610 | 12154 |  | 13109 |  | 11610 |
| &nbsp;&nbsp;Less death benefit related to BOLI | - | 430 |  | - | - |  | 430 |  | - |
| &nbsp;&nbsp;Less securities gains (losses) | 8 | (1) |  | - | 8 |  | (1) |  | - |
| &nbsp;&nbsp;Less MSRs mark to market (losses) gains | (428) | (389) |  | 385 | (428) |  | (389) |  | 385 |
| Taxable-equivalent adjustment: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Change in cash surrender value of BOLI | N/A | N/A |  | N/A | 222 |  | 312 |  | 203 |
| Noninterest income including adjustments | 12574 | 13069 |  | 11225 | 12796 |  | 13381 |  | 11428 |
| Net interest income including adjustments plus noninterest income including adjustments | $95625 | $95844 |  | $72809 | $96180 |  | $96494 |  | $73362 |
| Efficiency ratio / Adjusted efficiency ratio | 53.98% | 64.46 | % | 57.12 | 51.28 | % | 52.10 | % | 54.61% |

---

N/A - *Not applicable.*

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| | | | |
|:---|:---|:---|:---|
|  | **Quarters Ended** | **Quarters Ended** | **Quarters Ended** |
|  | **December 31,** <br>**2025** | **September 30,**<br>**2025** | **December 31,** <br>**2024** |
| **Adjusted Return on Average Tangible Common Equity Ratio** |  |  |  |
| **Net income (GAAP)** | $28787 | $9871 | $19110 |
| Income before income taxes (GAAP) | $39270 | $13068 | $25372 |
| Pre-tax income adjustments: |  |  |  |
| &nbsp;&nbsp;Provision for credit losses - Day Two | - | 13153 | - |
| &nbsp;&nbsp;Securities (gains) losses, net | (8) | 1 |  |
| &nbsp;&nbsp;MSR losses (gains) | 428 | 389 | (385) |
| &nbsp;&nbsp;Merger-related costs, net of gains on branch sales | 2296 | 11508 | 1521 |
| &nbsp;&nbsp;Death benefit related on BOLI | - | (430) | - |
| &nbsp;&nbsp;Amortization of core deposit intangibles | 1235 | 1251 | 716 |
| &nbsp;&nbsp;Adjusted net income, excluding intangibles amortization, before taxes | 43221 | 38940 | 27224 |
| Taxes on adjusted net income <sup>1</sup> | 11538 | 9632 | 6719 |
| Adjusted net income, excluding intangibles amortization (non-GAAP) | $31683 | $29308 | $20505 |
| **Total Average Common Equity** | $883986 | 849998 | $667881 |
| Less Average goodwill and intangible assets | 154416 | 153412 | 101119 |
| Average tangible common equity (non-GAAP) | $729570 | $696586 | $566762 |
| Return on average common equity (GAAP) | 12.92% | 4.61% | 11.38% |
| Return on average tangible common equity (non-GAAP) | 16.15% | 6.16% | 13.79% |
| Adjusted return on average tangible common equity (non-GAAP) | 17.23% | 16.69% | 14.39% |

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<sup>1</sup> *Adjusted net income for the quarter ended September 30, 2025 uses a blended income tax rate of 24.74%, which is slightly higher than the effective tax rate utilized for GAAP earnings due to the tax treatment of certain acquisition related costs.*

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## Exhibit 99.2

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 Loan Portfolio Disclosures AS OF DECEMBER 31, 2025 Exhibit 99.2 |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 Portfolio Segment Outstanding Classified Allowance Commercial (incl. Leases) $1,390 $54 0.97% Commercial Real Estate Investor $1,212 $14 1.77% Commercial Real Estate Owner Occ. $707 $64 0.66% Construction $174 $11 0.87% Residential Real Estate $301 $3 0.88% Multifamily $339 $2 0.44% HELOC $235 $2 1.52% Powersport $697 - 2.52% Other $197 - 3.00% Total $5,252 $150 1.38% Construction 3% Commercial RE Investor 23% Commercial RE Owner Occ. 13% Commercial (inc. Leases) 27% Multifamily 6% Residential Real Estate 6% HELOC 5% Other (less than $100 million) 4% Powersport 13% Loan Portfolio Composition (in millions) Q4 2025 Loan Portfolio Disclosures Total Loans and Allowance for Credit Losses Trend (in millions) $3,977 $3,991 $3,981 $3,940 $3,999 $5,265 $5,252 $42 $44 $44 $42 $43 $75 $72 $- $10 $20 $30 $40 $50 $60 $70 $80 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 Total Loans ACL |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 Criticized Loans (in millions) 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% $- $50 $100 $150 $200 $250 $300 $350 3/31/22 6/30/22 9/30/22 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Office CRE Healthcare Other Criticized Loans/ Total Loans Q4 2025 Loan Portfolio Disclosures $8,202 $2,256 $1,802 $4,988 $19,361 $1,076 $1,498 $6,416 $1,427 $484 $484 $234 $2,088 $1,363 $- $5,000 $10,000 $15,000 $20,000 $25,000 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 OREO OREO Under Contract Repossessed Assets OREO and Repossessed Assets (in thousands) |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 Property Type Outstanding LTV Classified Allowance Retail $338 53% $2 1.10% Industrial $294 50% - 1.21% Office (1) $202 64% $3 3.37% Hotel $79 52% - 1.43% Mixed Use $67 49% $9 5.56% Parking Garage $65 49% - 0.95% Senior Living $62 55% - 1.18% Gas Station/ Convenience $44 50% - 0.94% Other (under $30 million) $61 58% - 1.34% Total $1,212 54% $14 1.77% Commercial Real Estate Investor Portfolio Composition (in millions) Retail 28% Office 17% Industrial 24% Parking Garage 5% Hotel 6% Senior Living 5% Mixed Use 6% Other (under $50 million) 9% Illinois 55% Wisconsin 8% Texas 6% North Carolina 3% Pennsylvania 3% Oklahoma 3% Other (under $30 million) 22% State Outstanding LTV Classified Illinois $671 55% $14 Wisconsin $98 62% - Texas $75 49% - North Carolina $39 50% - Oklahoma $35 62% - Pennsylvania $33 49% - Florida $29 48% - Other (under $25 million) $232 52% - Total $1,212 54% $14 Q4 2025 Loan Portfolio Disclosures (1) Due to the insignificant classified loan balance in the office portfolio we have excluded the detail slide from the presentation. |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 Industry Outstanding Classified Allowance Health Care, Social Services $270 $28 0.92% Other Services $82 $5 0.39% Retail Trade $67 - 0.21% Manufacturing $58 $2 0.24% Real Estate, Leasing $53 $3 0.58% Accommodation, Food Service $32 $7 1.41% Wholesale Trade $29 $1 0.47% Arts, Entertainment $23 $2 1.02% Other (under $20 million) $93 $16 1.39% Total $707 $64 0.66% Manufacturing 8% Accommodation, Food Service 5% Retail Trade 9% Real Estate, Leasing 7% Healthcare 38% Other Services 12% Other (under $30 million) 21% Commercial Real Estate Owner-Occupied Portfolio Composition (in millions) Health Care, Social Outstanding Classified Allowance Assisted Living $136 $27 1.08% Skilled Nursing $62 - 1.04% Memory Care $49 - 0.78% Child Care $6 - 4.20% Independent Living $5 - 0.18% Other (under $5 million) $12 $1 0.75% Total $270 $28 0.92% Skilled Nursing 23% Assisted Living 50% Memory Care 18% Independent 2% Child Care 2% Other (under $5 million) 5% Q4 2025 Loan Portfolio Disclosures |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 Commercial & Industrial Outstanding Classified Manufacturing $427 $14 Construction $196 $8 Administrative, Waste Service $137 $3 Professional $129 $1 Transportation, Warehousing $114 $17 Real Estate, Leasing $80 - Health Care, Social Services $63 $1 Finance, Insurance $60 $1 Wholesale Trade $51 $4 Retail Trade $27 $2 Other (under $20 million) $106 $3 Total $1,390 $54 Commercial (including Leases) Portfolio Composition (in millions) Construction 14% Manufacturing 30% Wholesale Trade 4% Transportation, Warehousing 8% Finance, Insurance 4% Professional 9% Administration, Waste Service 10% Health Care, Social Services 4% Real Estate, Leasing 6% Other (under $50 million) 11% Commercial Revolving Line Utilization (outstanding in millions) $641 $654 $677 $653 $587 $574 $658 $717 53% 55% 56% 55% 52% 53% 55% 57% 30% 35% 40% 45% 50% 55% 60% $400 $450 $500 $550 $600 $650 $700 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Q4 2025 Loan Portfolio Disclosures |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 Origination Tier Outstanding Weighted FICO Portfolio APR % Tier 1 $382 776 7.73% Tier 2 $135 709 9.88% Tier 3 $79 682 12.32% Tier 4 $40 655 14.49% Tier 5 $61 605 16.86% Total $697 730 9.82% Powersport Portfolio Composition (in millions) Tier 1 54% Tier 2 20% Tier 3 11% Tier 4 6% Tier 5 9% Historical Contribution Margin Q4 2025 Loan Portfolio Disclosures Contribution Margin (1) 2020 (EBG) 2021 (EBG) 2022 (EBG) 2023 (EBG) 2024 (EBG) 12/31/2025 Portfolio APR 7.25% 7.22% 7.42% 8.13% 9.02% 9.82% Net Promo Accretion 1.61% 1.18% 0.69% 0.41% 0.74% 1.03% Participation -1.02% -0.76% -0.84% -0.87% -0.87% -0.91% Net Loss -0.63% -0.39% -0.62% -1.11% -1.39% -1.76% Net Contribution Margin 7.21% 7.26% 6.65% 6.56% 7.52% 8.19% (1) Historical contribution margin represents Evergreen Bank Group (EBG) performance through 6/30/2025, and 12/31/2025 contribution margin excludes purchase accounting accretion. Asset Type Outstanding % of Total Portfolio APR % New $537 77% 8.45% Used $160 23% 11.48% Total $697 9.82% |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](osbc-20260121xex99d2g008.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 Net Charge-offs (Recoveries) (in thousands) Portfolio 3/31/2025 (Q) 6/30/2025 (Q) 9/30/2025 (Q) 12/31/2025 (Q) 12/31/2025 (TTM) NCO(R) % Commercial (incl. Leases) $3,507 $1,090 $1,233 ($29) $5,801 0.43% Commercial Real Estate Investor ($14) ($14) ($15) ($14) ($57) 0.00% Commercial Real Estate Owner Occupied $39 ($1) ($2) $1,125 $1,161 0.17% Construction $821 ($337) ($46) - $438 0.26% Residential Real Estate ($32) ($10) ($9) ($11) ($62) (0.02%) Multifamily - - $181 - $181 0.05% HELOC ($12) ($10) ($19) ($49) ($90) (0.05%) Powersport $2,980 $4,466 $7,446 1.05% Other $44 $67 $805 (1) $493 (1) $1,409 1.91% Total $4,353 $785 $5,108 $5,981 $16,227 0.35% 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 Beginning ACL Balance $44,422 $43,619 $41,551 $42,990 $75,037 Day 1 Credit Mark (PCD) - - - $17,540 - Day 2 Credit Mark (Non-PCD) - - - $13,153 - Provision $4,092 $2,285 $2,224 $6,462 $3,245 Net Charge-off (Recovery) $4,895 $4,353 $785 $5,108 $5,981 Ending ACL Balance $43,619 $41,551 $42,990 $75,037 $72,301 Allowance for Credit Losses Quarterly Rollforward(2) (in thousands) Q4 2025 Loan Portfolio Disclosures (2) The Allowance for Credit Losses presented excludes the Allowance for Unfunded Commitments, which totaled $2.1 million as of December 31, 2025 and is reported within other liabilities on the Statements of Condition. (1) $481 thousand and $332 thousand in net charge-offs were associated with the Solar consumer portfolio acquired in Evergreen Bank Group acquisition for 9/30/2025 and 12/31/2025 respectively.  |

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