Old Second Bancorp Declares $0.07 Quarterly Dividend
Old Second Bancorp Inc (NASDAQ: OSBC), a community banking company, announced a quarterly cash dividend of $0.07 per share. The dividend is payable May 11, 2026 to shareholders of record as of May 1, 2026.
Old Second Bancorp Inc (NASDAQ: OSBC), a community banking company based in Illinois, declared a quarterly cash dividend of $0.07 per share on April 21, 2026. The dividend will be paid on May 11, 2026 to stockholders of record as of May 1, 2026. Read more dividend announcements.
The dividend announcement came alongside the company's first quarter 2026 earnings release. Old Second reported net income of $25.6 million, or $0.48 per diluted share, for the quarter ended March 31, 2026.
| Dividend Details | Date |
|---|---|
| Amount | $0.07 per share |
| Record Date | May 1, 2026 |
| Payment Date | May 11, 2026 |
| Frequency | Quarterly |
First Quarter 2026 Performance
The company posted adjusted net income of $26.0 million, or $0.49 per adjusted diluted share, for the first quarter. This compared to adjusted net income of $30.8 million, or $0.58 per adjusted diluted share, in the fourth quarter of 2025.
Net interest and dividend income reached $81.1 million, down $1.9 million or 2.30% from the prior quarter. The net interest margin on a fully tax-equivalent basis expanded to 5.14%, an increase of 5 basis points.
Return on average assets came in at 1.51%, while return on tangible common equity stood at 14.20%. The adjusted return on tangible common equity was 14.41%.
Noninterest expense decreased $2.7 million or 5.15% to $50.2 million, driving improvement in the efficiency ratio to 52.40% from 53.98% in the prior quarter. The adjusted efficiency ratio was 51.70%.
Old Second increased its provision for credit losses to $9.5 million from $3.0 million in the fourth quarter. Nonperforming assets rose during the quarter, primarily due to a downtown Chicago office credit and one commercial relationship. The allowance for credit losses on loans stood at 1.39% of total loans and 95.53% of nonperforming loans.
Capital Actions
On April 15, 2026, the company paid down $30 million of its $60 million subordinated debt due in 2031. During the first quarter, Old Second repurchased $23.1 million worth of shares, or 1.2 million shares.
Despite the share buybacks, tangible book value per share increased 1.63% on a linked quarter basis. The tangible common equity capital ratio rose to 11.07% from 11.02% in the prior quarter.