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Old Second (OSBC)
:OSBC
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.48Last Year’s EPS
0.4Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2018
|% Change Since: 13.33%
|Next Earnings Date:Jul 25, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strong profitability, balance sheet strengthening, and improving asset quality, with a notable increase in the common dividend. However, challenges such as increased provisions for credit losses and interest expenses were also discussed, along with modest loan growth due to market uncertainties.Company Guidance
During the Old Second Bancorp Q3 2024 earnings call, the company provided several key financial metrics and guidance. The net income for the quarter was reported at $23 million, translating to $0.50 per diluted share. The return on assets stood at 1.63%, while the return on average tangible common equity was a robust 17.14%. Despite a slight negative impact from a $2 million provision for credit losses, the bank's profitability remained strong, with a tax equivalent efficiency ratio of 53.38%. The tangible equity ratio improved by 75 basis points to 10.14%. The bank also highlighted an increase in the Common Equity Tier 1 ratio to 12.86% and announced a 20% increase in the common dividend. The net interest margin was relatively stable at 4.64%, with a loan-to-deposit ratio of 89%. Asset quality showed signs of improvement, with substandard and criticized loans down $187.6 million from peak levels. The allowance for credit losses on loans increased to $44.4 million, or 1.11% of total loans. The company also noted stable noninterest income and disciplined noninterest expenses, with an efficiency ratio of 52.31% when adjusted for acquisition costs and BOLI death benefits. Looking ahead, Old Second Bancorp aims to focus on balance sheet optimization, liquidity management, and capital building, targeting mid-single-digit organic loan growth in 2025.Strong Profitability and Dividend Increase
Net income was $23 million or $0.50 per diluted share, with a return on assets of 1.63% and return on average tangible common equity of 17.14%. The company announced a 20% increase in the common dividend.
Balance Sheet Strengthening
Tangible equity ratio increased by 75 basis points to 10.14%, and Common Equity Tier 1 increased to 12.86%.
Improving Asset Quality
Substandard and criticized loans decreased by $187.6 million, with special mention loans decreasing by $45.6 million or more than 37% from a year ago.
Noninterest Income and Efficiency
Noninterest income performed well, and the efficiency ratio was 52.31%, indicating strong cost management.
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OSBC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OSBC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 16, 2024 | $16.06 | $16.98 | +5.73% |
| Jul 17, 2024 | $16.66 | $16.29 | -2.22% |
| Apr 17, 2024 | $13.31 | $13.60 | +2.18% |
| Jan 24, 2024 | $15.22 | $14.11 | -7.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Old Second (OSBC) report earnings?
Old Second (OSBC) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Old Second (OSBC) earnings time?
Old Second (OSBC) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OSBC EPS forecast?
OSBC EPS forecast for the fiscal quarter 2024 (Q4) is 0.48.
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