Old Second Bancorp, Inc. was organized under the laws of Delaware on September
8, 1981. It is a registered bank holding company under the Bank Holding Company
Act of 1956 (the "BHCA"). The Companys office is located at 37 South
River Street, Aurora, Illinois 60507.
The Company conducts a full service community banking and trust business through
the following wholly owned subsidiaries, which together with the Registrant
are referred to as the “Company”:
Old Second National Bank (the “Bank”).
Old Second Capital Trust I, which was formed for the exclusive purpose of issuing
trust preferred securities in an offering that was completed in July 2003.
Old Second Capital Trust II, which was formed for the exclusive purpose of issuing
trust preferred securities in an offering that was completed in April 2007.
Old Second Affordable Housing Fund, L.L.C., which was formed for the purpose
of providing down payment assistance for home ownership to qualified individuals.
A series of limited liability companies wholly owned by the Bank and formed
between 2008 and 2012 to hold property acquired by the Bank through foreclosure
or in the ordinary course of collecting a debt previously contracted with borrowers.
River Street Advisors, LLC, a wholly owned subsidiary of the Bank, which was
formed in May 2010 to provide investment advisory/management services.
Inter-company transactions and balances are eliminated in consolidation.
The Bank’s full service banking businesses include the customary consumer
and commercial products and services that banking institutions provide including
demand, NOW, money market, savings, time deposit, individual retirement and
Keogh deposit accounts; commercial, industrial, consumer and real estate lending,
including installment loans, student loans, agricultural loans, lines of credit
and overdraft checking; safe deposit operations; trust services; wealth management
services; and an extensive variety of additional services tailored to the needs
of individual customers, such as the acquisition of U.S. Treasury notes and
bonds, the sale of travelers checks, money orders, cashiers’ checks and
foreign currency, direct deposit, discount brokerage, debit cards, credit cards,
and other special services. The Bank also offers a full complement of electronic
banking services such as online and mobile banking and corporate cash management
products including remote deposit capture, mobile deposit capture, investment
sweep accounts, zero balance accounts, automated tax payments, ATM access, telephone
banking, lockbox accounts, automated clearing house transactions, account reconciliation,
controlled disbursement, detail and general information reporting, wire transfers,
vault services for currency and coin, and checking accounts. Commercial and
consumer loans are made to corporations, partnerships and individuals, primarily
on a secured basis. Commercial lending focuses on business, capital, construction,
inventory and real estate lending. Installment lending includes direct and indirect
loans to consumers and commercial customers. Additionally, the Bank provides
a wide range of wealth management, investment, agency, and custodial services
for individual, corporate, and not-for-profit clients. These services include
the administration of estates and personal trusts, as well as the management
of investment accounts for individuals, employee benefit plans, and charitable
foundations. The Bank also originates residential mortgages, offering a wide
range of mortgage products including conventional, government, and jumbo loans.
Secondary marketing of those mortgages is also handled at the Bank.
Operating segments are components of a business about which separate financial
information is available and that are evaluated regularly by the Company’s
management in deciding how to allocate resources and assess performance. Public
companies are required to report certain financial information about operating
segments. The Company’s management evaluates the operations of the Company
as one operating segment, i.e. community banking.
The Bank provides a broad range of commercial and retail lending services to
corporations, partnerships, individuals and government agencies. The Bank actively
markets its services to qualified borrowers. Lending officers actively solicit
the business of new borrowers entering our market areas as well as long-standing
members of the local business community. The Bank has established lending policies
that include a number of underwriting factors to be considered in making a loan,
including location, amortization, loan to value ratio, cash flow, pricing, documentation
and the credit history of the borrower.
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