Old Second Bancorp, Inc. (OSBC) Q1 2025 Earnings Call Transcript

2025-04-24 22:05:19 ET

Old Second Bancorp, Inc. (OSBC)

Q1 2025 Earnings Conference Call

April 24, 2025 10:00 AM ET

Company Participants

James Eccher - Chairman, President & Chief Executive Officer

Bradley Adams - Chief Operating Officer and Chief Financial Officer

Gary Collins - Vice Chairman

Conference Call Participants

Terry McEvoy - Stephens

David Long - Raymond James

Nathan Race - Piper Sandler

Jeff Rulis - D.A. Davidson

Christopher McGratty - KBW

Brian Martin - Janney

Presentation

Operator

Good morning, everyone and thank you for joining us today for Old Second Bancorp, Inc.'s First Quarter 2025 Earnings Call. On the call today are Jim Eccher, the company's Chairman, President and CEO; Brad Adams, the company's Chief Operating Officer and Chief Financial Officer; and Gary Collins, the Vice Chairman of our Board.

I'll just 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. And on today's call, we will 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 would like to turn the call over to Mr. Jim Eccher.

James Eccher

Good morning, everyone and thank you for joining us. As customary, I have several prepared opening remarks, we'll give my overview on the quarter and then turn it over to Brad for some additional details. I will then conclude with certain summary comments and thoughts about the future before we open it up to questions. Net income was $19.8 million or $0.43 per diluted share in the first quarter of 2025 and ROA was 1.42%. First quarter 2025 return on average tangible common equity is 14.70%, and the tax equivalent efficiency ratio was 55.48%....

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