Old Second Q2 Adjusted Net Income Misses Estimates by a Hair
OSBC sits 43% above its 52-week low of $16.425.
Summary
Old Second Bancorp reported Q2 adjusted net income of $28.70 million, just shy of the $28.88 million consensus, a miss of less than 1%. Net income rose to $28.2 million from $25.6 million in Q1, driven by higher loan balances and improved yields. Credit quality showed mixed signals: provisions declined, but charge-offs remained elevated due to two specific commercial relationships. The company repurchased 732,000 shares during the quarter, continuing its buyback program. Management expressed confidence in delivering better results in the second half of 2026. This follows a Q1 marked by rising nonperforming loans and a recent $61.2 million buyback authorization.
At the time of this announcement, OSBC was trading at $23.41 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $16.43 to $23.99. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.