Business Context and Reporting Period
Company: Old Second Bancorp, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 4, 2026
Event: Notice of intention to redeem outstanding subordinated notes.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, or operating margins. The primary financial metric disclosed relates to debt management:
- Debt Instrument: 3.50% Fixed-to-Floating Rate Subordinated Notes due 2031 (CUSIP No. 680277AC4).
- Redemption Amount: $30,000,000 aggregate principal amount.
- Redemption Price: 100% of aggregate principal plus accrued and unpaid interest to, but excluding, the Redemption Date.
- Remaining Outstanding: $30,000,000 aggregate principal amount will remain after the redemption.
Material Changes
The filing announces a material change in the Company's capital structure through the partial redemption of its subordinated notes. The Company has received a non-objection from the Federal Reserve Bank of Chicago regarding this transaction. Interest on the redeemed notes will cease to accrue on the Redemption Date.
Guidance, Outlook, and Risks
Outlook: The Company intends to complete the redemption on April 15, 2026. Payment will be made upon presentation and surrender of the notes.
Risks: The filing includes a standard cautionary statement regarding forward-looking statements, noting that actual results may differ materially due to risks and uncertainties disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.
Investor Verification Checklist
- Confirm the exact redemption date of April 15, 2026, and the cessation of interest accrual on that date.
- Verify the remaining $30,000,000 principal balance of the 3.50% Subordinated Notes due 2031 post-redemption.
- Review the Company's Form 10-K (filed February 26, 2026) for detailed risk factors and liquidity context.
- Check for any subsequent filings regarding the actual execution of the redemption payment.