Old Second Q1 net income $23.6M ($0.52/sh), NIM 4.74%; loan growth 3.5%; NPLs rise to 1.6%

OLD SECOND BANCORP INC

2023-Q1 EPS reported $0.52

Net income $23.6M, diluted EPS $0.52 (flat QoQ; up from $0.27 YoY). Adjusted EPS also $0.52.
Net interest margin (TE) 4.74% (+11bps QoQ, +186bps YoY); net interest income $64.1M (+55.4% YoY).
Total loans $4.00B (+3.5% QoQ); nonperforming loans $64.5M (1.6% of loans) vs $32.9M (0.9%) Q4 2022.
Noninterest expense down 9.5% QoQ to $35.9M; efficiency ratio improved to 47.52% from 52.44%.
Dividends declared $0.05/sh payable May 8; tangible common equity ratio improved to 6.83%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

OLD SECOND BANCORP INC reported first quarter ended March 31, 2023 results: net income Net income of $23.6 Million, EPS $0.52 per Diluted Share.

Period: first quarter ended March 31, 2023
Net income: Net income of $23.6 Million
EPS: $0.52 per Diluted Share
Result: reported results

Exact text from the filing

Old Second Bancorp, Inc. Reports First Quarter 2023 Net Income of $23.6 Million, or $0.52 per Diluted Share

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Source: SEC EDGAR

accession 0000357173-23-000018

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