A Business at a Glance
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OLD SECOND BANCORP INC
OSBC
$1.2B
Mkt Cap
$24.03
+2.21%
OLD SECOND BANCORP INC (OSBC) has a current P/E ratio of 14.8, compared to its historical median P/E of 10.5. The stock is currently considered Fair based on its historical valuation range.
OLD SECOND BANCORP INC (OSBC) has a 5-year average return on invested capital (ROIC) of 10.6%. This indicates solid capital allocation.
OLD SECOND BANCORP INC (OSBC) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Yes, OLD SECOND BANCORP INC (OSBC) pays a dividend with a trailing twelve-month yield of 1.07%. The company also returns capital through share buybacks, with a buyback yield of 2.45%.
Based on historical P/E analysis, OLD SECOND BANCORP INC (OSBC) appears fair. The current P/E of 14.8 is 41% above its historical median of 10.5. The estimated fair value CAGR (P/E method) is 11.6%.
OLD SECOND BANCORP INC (OSBC) operates in the State Commercial Banks industry, within the Financials sector.
OLD SECOND BANCORP INC (OSBC) reported annual revenue of $402 million in its most recent fiscal year, based on SEC EDGAR filings.
Old Second Bancorp, Inc. is a corporation organized under the laws of the State of Delaware in 1981 that serves as the bank holding company for its wholly-owned subsidiary bank, Old Second National Bank. Old Second National Bank (the “Bank”) is a national banking association headquartered in Aurora, Illinois, that operates through 55 banking centers located in Cook, DeKalb, DuPage, Kane, Kendall, LaSalle and Will counties in Illinois. In this report, unless the context suggests otherwise, references to the “Company” or “Old Second” refer to Old Second Bancorp, Inc. and references to “we,” “us,” and “our” mean the combined business of the Company, the Bank and its wholly-owned subsidiaries. We conduct a full service community banking and trust business through the Bank and its wholly-owned subsidiaries, as follows: ●Old Second Affordable Housing Fund, L.L.C.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 360M | 402M | 342M | 326M | 260M | 144M |
| Net Income | 86M | 80M | 85M | 92M | 67M | 20M |
| EPS | $1.71 | $1.62 | $1.87 | $2.02 | $1.49 | $0.65 |
| Free Cash Flow | 138M | 118M | 121M | 104M | 93M | 29M |
| ROIC | 8.8% | 9.2% | 12.0% | 15.2% | 12.2% | 4.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.07 | 0.10 | 0.15 | 0.18 | 0.19 | 0.12 |
| Dividends/Share | $0.26 | $0.25 | $0.21 | $0.20 | $0.20 | $0.16 |
| Operating Income | 5.6M | 5.0M | 113M | 124M | 5.2M | 2.3M |
| Operating Margin | 1.6% | 1.2% | 33.1% | 38.1% | 2.0% | 1.6% |
| ROE | 9.6% | 10.2% | 13.7% | 17.7% | 14.0% | 5.0% |
| Shares Outstanding | 52M | 50M | 46M | 45M | 45M | 31M |
| Metric | 2014 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 86M | 97M | 102M | 118M | 139M | 151M | 142M | 144M | 260M | 326M | 342M | 402M | 360M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 74M | 35M | 36M | 40M | 44M | 47M | 50M | 58M | 87M | 89M | 98M | 125M | 127M |
| EBIT | 4.7M | 5.2M | 4.9M | 4.8M | 3.9M | 2.3M | 2.1M | 2.3M | 5.2M | 124M | 113M | 5.0M | 5.6M |
| Op. Margin | 5.4% | 5.4% | 4.8% | 4.1% | 2.8% | 1.5% | 1.5% | 1.6% | 2.0% | 38.1% | 33.1% | 1.2% | 1.6% |
| Net Income | 12M | 14M | 16M | 15M | 34M | 39M | 28M | 20M | 67M | 92M | 85M | 80M | 86M |
| Net Margin | 13.7% | 13.9% | 15.4% | 12.8% | 24.5% | 26.1% | 19.6% | 13.9% | 26.0% | 28.1% | 25.0% | 20.0% | 23.9% |
| Non-Recurring | 0 | 20K | -1K | 10K | 0 | 32K | 0 | 3.8M | 2.0M | 623K | 31K | 742K | 742K |
| Returns on Capital | |||||||||||||
| ROIC | 1.5% | 5.8% | 8.1% | 6.3% | 10.6% | 10.9% | 7.2% | 4.2% | 12.2% | 15.2% | 12.0% | 9.2% | 8.8% |
| ROE | 6.9% | 7.7% | 9.5% | 8.1% | 15.8% | 15.6% | 9.5% | 5.0% | 14.0% | 17.7% | 13.7% | 10.2% | 9.6% |
| ROA | 0.6% | 0.7% | 0.7% | 0.7% | 1.3% | 1.5% | 1.0% | 0.4% | 1.1% | 1.6% | 1.5% | 1.3% | 1.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -6.3M | 21M | 27M | 37M | 55M | 53M | 26M | 31M | 97M | 116M | 132M | 122M | 141M |
| Free Cash Flow | -7.4M | 20M | 25M | 36M | 53M | 48M | 22M | 29M | 93M | 104M | 121M | 118M | 138M |
| Owner Earnings | -9.1M | 18M | 24M | 34M | 50M | 48M | 21M | 26M | 90M | 108M | 122M | 111M | 129M |
| CapEx | 1.1M | 1.3M | 2.0M | 1.1M | 1.9M | 4.4M | 3.9M | 2.0M | 4.3M | 12M | 11M | 4.5M | 3.7M |
| Maint. CapEx | 2.5M | 2.4M | 2.3M | 2.3M | 2.4M | 2.5M | 2.8M | 3.2M | 4.1M | 4.5M | 5.6M | 6.1M | 6.4M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 1.9M | 1.1M | 0 | 247K | 7.9M | 5.2M | 0 | 0 |
| D&A | 2.5M | 2.4M | 2.3M | 2.3M | 2.4M | 2.5M | 2.8M | 3.2M | 4.1M | 4.5M | 5.6M | 6.1M | 6.4M |
| CapEx/OCF | N/A | 6.1% | 7.3% | 2.8% | 3.5% | 8.3% | 15.1% | 6.5% | 4.5% | 10.6% | 8.2% | 3.7% | 2.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 12M | 2.4M | 888K | 1.2M | 1.2M | 1.2M | 1.2M | 4.6M | 8.9M | 8.9M | 9.4M | 12M | 13M |
| Dividend Yield | 10.9% | 1.4% | 0.4% | 0.4% | 0.3% | 0.3% | 0.5% | 1.3% | 1.4% | 1.4% | 1.4% | 1.4% | 1.1% |
| Share Buybacks | 46K | 117K | 254K | 236K | 505K | 666K | 5.9M | 10M | 455K | 605K | 1.0M | 7.4M | 30M |
| Buyback Yield | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 2.1% | 2.8% | 0.1% | 0.1% | 0.1% | 0.8% | 2.5% |
| Stock-Based Comp | 295K | 613K | 657K | 1.2M | 2.3M | 2.5M | 2.1M | 1.4M | 3.0M | 3.6M | 3.9M | 5.5M | 5.6M |
| Debt Repayment | 40M | 30M | 55M | 45M | 24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 14M | 17M | -3.3M | 47M | 55M | 60M | -749M | -2.4B | -1.6B | 3.8M | 518K | -37M | -56M |
| Cash & Equiv. | 44M | 40M | 47M | 56M | 55M | 51M | 330M | 752M | 115M | 100M | 99M | 124M | 116M |
| Long-Term Debt | 58M | 58M | 112K | 102M | 109M | 109M | 77M | 59M | 85M | 85M | 85M | 85M | 85M |
| Debt/Equity | 0.30 | 0.37 | 0.25 | 0.51 | 0.48 | 0.40 | 0.25 | 0.12 | 0.19 | 0.18 | 0.15 | 0.10 | 0.07 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 194M | 156M | 175M | 200M | 229M | 278M | 307M | 502M | 461M | 577M | 671M | 897M | 893M |
| Total Assets | 2.1B | 2.1B | 2.3B | 2.4B | 2.7B | 2.6B | 3.0B | 6.2B | 5.9B | 5.7B | 5.6B | 6.9B | 6.8B |
| Total Liabilities | 1.9B | 1.9B | 2.1B | 2.2B | 2.4B | 2.4B | 2.7B | 5.7B | 5.4B | 5.1B | 5.0B | 6.0B | 6.0B |
| Intangibles | 1.2M | N/A | 0 | 0 | 0 | 0 | 2.2M | 16M | 14M | 11M | 22M | 24M | 23M |
| Retained Earnings | 101M | 114M | 129M | 143M | 175M | 214M | 237M | 252M | 311M | 393M | 469M | 537M | 559M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.46 | 0.46 | 0.53 | 0.50 | 1.12 | 1.30 | 0.92 | 0.65 | 1.49 | 2.02 | 1.87 | 1.62 | 1.71 |
| Owner EPS | -0.35 | 0.62 | 0.82 | 1.11 | 1.65 | 1.57 | 0.70 | 0.86 | 2.00 | 2.39 | 2.68 | 2.23 | 2.50 |
| Book Value | 7.53 | 5.31 | 5.92 | 6.62 | 7.54 | 9.16 | 10.15 | 16.28 | 10.19 | 12.71 | 14.72 | 18.09 | 17.29 |
| Cash Flow/Share | -0.24 | 0.72 | 0.92 | 1.23 | 1.81 | 1.73 | 0.86 | 1.01 | 2.15 | 2.56 | 2.88 | 2.47 | 1.79 |
| Dividends/Share | 0.48 | 0.08 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.16 | 0.20 | 0.20 | 0.21 | 0.25 | 0.26 |
| Shares Out. | 25.8M | 29.4M | 29.6M | 30.3M | 30.4M | 30.4M | 30.2M | 30.8M | 45.2M | 45.4M | 45.6M | 49.6M | 51.7M |
| Valuation | |||||||||||||
| P/E Ratio | 10.3 | 15.7 | 19.8 | 25.3 | 10.7 | 9.7 | 10.2 | 18.6 | 10.4 | 7.6 | 9.4 | 12.3 | 14.0 |
| P/FCF | N/A | 10.7 | 12.3 | 10.6 | 6.8 | 7.9 | 12.8 | 12.9 | 7.5 | 6.7 | 6.6 | 8.4 | 9.0 |
| EV/EBIT | 29.3 | 44.0 | 62.3 | 90.0 | 107.6 | 107.2 | N/A | N/A | 126.7 | N/A | N/A | 206.3 | 211.6 |
| Price/Book | 0.6 | 1.4 | 1.8 | 1.9 | 1.6 | 1.4 | 0.9 | 0.7 | 1.5 | 1.2 | 1.2 | 1.1 | 1.4 |
| Price/Sales | 1.3 | 1.9 | 2.3 | 3.1 | 3.3 | 2.7 | 2.0 | 2.7 | 2.5 | 2.2 | 2.4 | 2.6 | 3.4 |
| FCF Yield | -6.0% | 9.3% | 8.1% | 9.4% | 14.6% | 12.6% | 7.8% | 7.8% | 13.3% | 15.0% | 15.1% | 11.9% | 11.1% |
| Market Cap | 122M | 213M | 311M | 383M | 363M | 382M | 283M | 374M | 702M | 695M | 802M | 987M | 1.2B |
| Avg. Price | 4.40 | 5.73 | 7.04 | 10.93 | 13.48 | 11.95 | 8.37 | 11.77 | 13.86 | 13.97 | 15.08 | 17.60 | 24.03 |
| Year-End Price | 4.75 | 7.24 | 10.50 | 12.66 | 11.95 | 12.58 | 9.35 | 12.11 | 15.51 | 15.30 | 17.59 | 19.90 | 24.03 |
OLD SECOND BANCORP INC passes 5 of 9 quality checks, suggesting mixed fundamentals.
OLD SECOND BANCORP INC trades at 14.8x trailing earnings, compared to its 15-year median P/E of 10.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 10.8x vs a median of 8.1x. The company's 5-year average ROIC is 10.6%. Total shareholder yield (dividends + buybacks) is 3.5%. At current prices, the estimated annualized return to fair value is +13.6%.
OLD SECOND BANCORP INC (OSBC) has a net profit margin of 20.0%. This is a strong margin indicating high profitability.
OLD SECOND BANCORP INC (OSBC) generated $118 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
OLD SECOND BANCORP INC (OSBC) has a debt-to-equity ratio of 0.10. This indicates a conservatively financed balance sheet.
OLD SECOND BANCORP INC (OSBC) reported earnings per share (EPS) of $1.62 in its most recent fiscal year.
OLD SECOND BANCORP INC (OSBC) has a return on equity (ROE) of 10.2%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for OLD SECOND BANCORP INC (OSBC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
OLD SECOND BANCORP INC (OSBC) has a book value per share of $18.09, based on its most recent annual SEC filing.
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