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Here are 1-2 brief analogies to describe Old Second Bancorp (OSBC):

• It's like **PNC Financial Services**, but with its operations focused exclusively on specific counties in Illinois.
• Think of it as a **smaller, Illinois-centric U.S. Bancorp**.

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• Deposit Accounts: Offers various types of accounts including checking, savings, money market, time deposits, and individual retirement accounts.
• Loan Products: Provides a comprehensive suite of lending options for commercial, real estate, construction, consumer, installment, and agricultural needs.
• Wealth Management and Trust Services: Delivers services for managing client assets, investments, and financial planning.
• Corporate Cash Management: Offers specialized products designed to help businesses efficiently manage their cash flow and financial operations.
• Digital Banking: Provides online and mobile platforms for convenient account access and remote banking services.
• General Banking Services: Includes essential banking utilities such as safe deposit services, money orders, cashier's checks, foreign currency, and debit/credit cards.
• Investment Services: Facilitates the acquisition of U.S. treasury notes and bonds and provides investment, agency, and custodial support.

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Major Customers of Old Second Bancorp (OSBC)

Old Second Bancorp, Inc., as a community bank, sells primarily to a broad range of customers within its local operating area in Illinois, encompassing individuals, businesses, and not-for-profit organizations. It does not have a few major customers; rather, its customer base is diverse. The company serves the following categories of customers:

• Individuals: This category includes consumers utilizing personal banking services such as checking, savings, money market, and time deposit accounts, individual retirement accounts, residential real estate loans (first and second mortgages, home equity lines of credit), consumer loans (motor vehicle, home improvement, signature loans), and trust and wealth management services for personal financial planning.
• Commercial Clients/Businesses: This category comprises businesses of various sizes seeking commercial loans, lease financing, commercial real estate loans, construction loans, and a comprehensive suite of corporate cash management products (including remote and mobile deposit capture, investment sweep accounts, ACH transactions, wire transfers, and vault services). It also includes businesses utilizing investment, agency, and custodial services.
• Not-for-profit Organizations: The company provides investment, agency, and custodial services specifically tailored for not-for-profit clients.

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James L. Eccher, Chairman, President & Chief Executive Officer

James L. Eccher serves as the Chairman, President, and Chief Executive Officer of Old Second Bancorp, Inc. and Old Second National Bank. He joined Old Second National Bank in 1990 and held various positions, including President and Chief Executive Officer of Bank of Sugar Grove from 1996 to 1999, and Senior Vice President and Branch Director from 1999 to 2003. Mr. Eccher was appointed Chief Executive Officer and President of Old Second National Bank in 2003, elected as a director of both Old Second Bancorp and Old Second National Bank in 2006, and assumed his current position with the Bancorp in 2007.

Bradley S. Adams, EVP, Chief Operating Officer & Chief Financial Officer

Bradley S. Adams joined Old Second Bancorp in 2017 as Chief Financial Officer, and as of August 2023, also assumed the role of Chief Operating Officer. Prior to Old Second, he served as Executive Vice President and Director of Corporate Development & Strategy for TCF National Bank. From 2011 to 2016, he was the Executive Managing Director, Corporate Development, of Talmer Bancorp, Inc., where he oversaw internal financial reporting, budgeting, mortgage bank accounting, investor relations, strategic planning, and corporate development. Talmer Bancorp merged with Chemical Financial Corporation in August 2016. Earlier in his career, Mr. Adams was a Managing Director of W2 Freedom, LLC, a private investment fund manager focusing on community banks, and Director of Investor Relations for Fifth Third Bancorp.

Gary S. Collins, Vice Chairman

Gary S. Collins is the Vice Chairman of Old Second Bancorp, Inc. and Old Second National Bank. He previously held the position of Vice Chairman and Director of Talmer Bancorp, Inc. from 2011 to 2016. From 2010 to 2011, Mr. Collins served as Chairman and Co-Chief Executive Officer of Lake Shore Wisconsin Corporation, a bank holding company. He was also a founding Managing Director and Vice Chairman of The PrivateBank - Chicago from 1991 until 2009, where he played a key role in its growth and success by managing private client services.

Jordan Crain, Chief Risk Officer

Jordan Crain serves as the Chief Risk Officer for Old Second Bank.

Gregory Pike, Chief Credit Officer and Executive Vice President

Gregory Pike holds the position of Chief Credit Officer and Executive Vice President at Old Second Bank.

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The key risks to Old Second Bancorp (OSBC) primarily stem from its operations as a community banking institution in Illinois, encompassing inherent financial industry challenges and specific exposures.

1. Credit Risk: As a lending institution, Old Second Bancorp is inherently exposed to credit risk, which is the potential for borrowers to default on their loan obligations. This risk is highlighted by concerns over "Illinois focused credit risk flares up" and "rising credit normalization risks". More specifically, the bank has experienced "elevated net charge-offs in the Powersports book and a higher level of non performing assets than peers". The company's loan portfolio, which includes significant portions of commercial real estate (CRE), commercial & industrial, and residential/consumer loans, contributes to its overall credit exposure, with CRE exposure specifically noted as a key risk.
2. Interest Rate Sensitivity: Old Second Bancorp's financial performance is significantly impacted by fluctuations in interest rates. Despite efforts to manage this, the bank's "net interest margin could face pressure in fluctuating rate environments, potentially impacting profitability". This sensitivity means that changes in interest rates can adversely affect the bank's earnings by altering interest rate-sensitive income and expenses.
3. Regulatory Challenges and Intense Competition: As a banking institution, Old Second Bancorp is subject to extensive federal and state regulations. Changes in banking laws or policies could lead to increased compliance costs or limit the bank's operational flexibility and competitive position. Furthermore, the financial services industry is highly competitive, with OSBC facing pressure from traditional banks, credit unions, and emerging fintech companies. The threat of "digital only competitors start eroding Old Second's profitability assumptions" necessitates ongoing capital expenditure for digital capabilities to prevent customer churn.

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Old Second Bancorp, Inc. (OSBC) operates as a community bank primarily across Cook, DeKalb, DuPage, Kane, Kendall, LaSalle, and Will counties in Illinois. The addressable markets for its main products and services, predominantly within Illinois, can be estimated as follows:

Community Banking Services (Deposits)

The total deposits held at community bank branches in Illinois amounted to approximately $217.86 billion as of December 13, 2024.

Residential Real Estate Loans

The Illinois residential real estate market recorded 164,459 residential properties sold in the past year. As of December 2025, the median home price for single-family homes in Illinois was approximately $275,000. The median home sale price in Illinois was $279,900 as of January 15, 2026.

Commercial Loans (including Commercial Real Estate Loans)

The market size of the Commercial Banking industry in Illinois is projected to be $70.8 billion in 2026. This market includes commercial loans and commercial real estate loans. The U.S. commercial real estate mortgage market for income-producing properties is roughly $4.5 trillion, based on 2023 data.

Consumer Loans

In Illinois, before the Predatory Loan Prevention Act (PLPA) in 2021, consumers paid over $500 million annually in payday and auto title loan interest and fees. The total consumer debt in the U.S. increased to $16.38 trillion from 2021-2022. The average consumer debt in Illinois increased by 1.6% from 2021 to 2022, reaching $87,351.

Trust and Wealth Management Services

The market size of the Portfolio Management & Investment Advice industry in Illinois is estimated to be $28.7 billion in 2026.

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Expected Drivers of Future Revenue Growth for Old Second Bancorp (OSBC)

Old Second Bancorp (OSBC) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, organic loan expansion, enhanced digital banking services, and the continued growth of its wealth management and non-interest income streams.

1. Strategic Acquisitions and Branch Expansion: Old Second Bancorp has demonstrated a robust acquisition strategy, which has significantly expanded its asset base, market presence, and customer reach. Recent examples include the acquisitions of Bancorp Financial and Evergreen Bank Group, leading to substantial loan growth and increased net interest and dividend income. Additionally, the acquisition of FRME's five Illinois branches contributed to deposit growth in Q4 2024, further indicating that strategic expansions will continue to be a key driver for revenue. The company's footprint has also extended into Cook and DuPage counties through branch transactions, allowing it to tap into new customer segments and diversify revenue.
2. Organic Loan Growth: Beyond growth from acquisitions, the company aims to sustain mid-single-digit loan growth. This organic expansion of its loan portfolio across commercial, real estate, and consumer lending segments will directly contribute to an increase in interest income, a primary component of the bank's revenue.
3. Digital Banking and Technology Investments: Investments in electronic banking services, including online and mobile banking, are positioned to attract tech-savvy customers and enhance operational efficiency. By capitalizing on the growing trend of digital banking, OSBC can expand its customer base and potentially introduce new digital product offerings, thereby driving future revenue growth.
4. Expansion of Wealth Management and Non-Interest Income Services: Growth in wealth management services and other non-interest income categories is also anticipated to contribute to revenue. Non-interest income streams such as card-related income, wealth management, and service charges on deposits have shown positive trends. Old Second Bancorp has also expanded its wealth management team, indicating a focus on growing these fee-based services.

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Share Repurchases

• Old Second Bancorp authorized a new share repurchase program on January 27, 2026, allowing for the repurchase of up to $43.9 million of its common stock, with the authorization extending through December 31, 2026.
• A previous stock repurchase program was announced on December 18, 2024, authorizing the buyback of up to $39.1 million of common stock.
• Share buybacks were authorized in 2024 to return capital to shareholders and enhance earnings per share.

Share Issuance

• Shareholders of Old Second Bancorp experienced dilution over the past year, as of February 2026.

Capital Expenditures

• Capital expenditures for Old Second Bancorp totaled $881,000 in the fourth quarter of 2025.
• This figure represents a 28.1% decrease in capital expenditures from the prior quarter.