secwatch.observer — SEC 8-K summary
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Issuer:     OLD SECOND BANCORP INC (OSBC)
CIK:        0000357173
Form:       8-K
Filed at:   2024-08-27T23:59:59+00:00
Accession:  0000357173-24-000062
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Old Second Bancorp to acquire 5 Chicago-area branches from First Merchants for $23M premium
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- Assumes ~$304M in deposits and purchases ~$12M in loans from First Merchants.
- Pays deposit premium of 7.5%, or ~$23M cash consideration; closing expected Q4 2024.
- Acquisition enhances Old Second's position in Southeast Chicago MSA; First Merchants exits suburban Chicago.
- Old Second had $5.7B in assets as of June 30, 2024; transaction subject to regulatory approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/357173/000035717324000062/0000357173-24-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/357173/000035717324000062/tmb-20240826x8k.htm
  HTML page:      https://secwatch.observer/filing/0000357173-24-000062

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