OSBC - Old Second Bancorp, Inc. (OSBC) Q4 2024 Earnings Call Transcript
2025-01-23 14:23:05 ET
Old Second Bancorp, Inc. (OSBC)
Q4 2024 Results Conference Call
January 23, 2025 10:00 AM ET
Company Participants
Jim Eccher - Chairman, President and Chief Executive Officer
Brad Adams - Chief Operating Officer and Chief Financial Officer
Gary Collins - Vice Chairman of Board
Conference Call Participants
Jeff Rulis - D.A. Davidson
Nathan Race - Piper Sandler
David Long - Raymond James
Brandon Rud - Stephens Inc.
Chris McGratty - KBW
Brian Martin - Janney Montgomery Scott
Kevin Roth - Black Maple Capital
Presentation
Operator
Good morning, everyone, and thank you for joining us today for Old Second Bancorp, Inc. Fourth Quarter 2024 Earnings Call. On the call today are Jim Eccher, the company's Chairman, President and CEO; Brad Adams, the company's COO and CFO; and Gary Collins, the Vice Chairman of our Board.
I will start with a reminder that Old Second's comments today will contain forward-looking statements about the company's business, strategies and prospects, which are based on management's existing expectations in the current economic environment. These statements are not a guarantee of future performance and results may differ materially from those projected. Management would ask you to refer to the company's SEC filings for a full discussion of the company's risk factors.
The company does not undertake any duty to update such forward-looking statements. On today's call, we will also be discussing certain non-GAAP financial measures. These non-GAAP measures are described and reconciled to their GAAP counterparts in our earnings release, which is available on our website at oldsecond.com on the homepage and under the Investor Relations tab.
Now, I will turn it over to Jim Eccher. Please go ahead.
Jim Eccher
Good morning, everyone, and thank you for joining us this morning. I have several prepared opening remarks and give my overview of the quarter and then turn it over to Brad for additional details.
I will then conclude with certain summary comments and thoughts about the future before we open it up for questions. Net income was $19.1 million or $0.42 per diluted share in the fourth quarter of 2024, and return on assets was 1.34%. Fourth quarter 2024 return on average tangible common equity was 13.79% and the tax equivalent efficiency ratio was 54.61%....
Old Second Bancorp, Inc. (OSBC) Q4 2024 Earnings Call Transcript