NASDAQ$OSBC

Old Second Bancorp Inc · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported net income with no material change compared to the previous quarter and an increase compared to the same quarter last year.

Old Second Bancorp, Inc. reported a net income of $23.6 million, or $0.52 per diluted share, for the first quarter of 2023. The company's net interest margin increased by 186 basis points compared to the first quarter of 2022. Loans increased $133.7 million in the first quarter.

  • Net income was $23.6 million, or $0.52 per diluted share.
  • Adjusted net income was $23.4 million, or $0.52 per diluted share.
  • Net interest and dividend income was $64.1 million.
  • Noninterest income was $7.4 million.

Headline financials

Total Revenue

$71.4M

Previous: $54.7M+30.5%
EPS (adj)

$0.52

Previous: $0.36+44.4%
Efficiency Ratio

47.5%

No prior period
Net Interest Margin (Tax-Equivalent)

4.7%

No prior period
Common Equity Tier 1 Capital Ratio

9.9%

No prior period
Tier 1 Risk-Based Capital Ratio

10.4%

No prior period
Total Risk-Based Capital Ratio

12.8%

No prior period
Tier 1 Leverage Ratio

8.6%

No prior period
Capital Expenditures

-$1.56M

Previous: -$487K-220.3%
Free Cash Flow

$22M

Previous: $11.5M+91.2%
Net Income

$23.6M

Previous: $12M+96.4%
Operating Income

$61.4M

Previous: $43.2M+42.0%
Gross Profit

$67.9M

Previous: $51.7M+31.3%
Cash & Equivalents

$103M

Previous: $635M-83.8%
Total Assets

$5.92B

Previous: $6.22B-4.9%

Revenue & EPS history

Old Second · Revenue · Quarterly

$71.4M

Q1 2023+30.5%vs Q1 2022
Beat estimate in 7 of 14 quarters(50%)
ActualEstimate

Forward guidance

Old Second plans to reduce high cost debt, evaluate share repurchase opportunities, and optimize the earning asset mix to fund loan growth.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

-0.1%

Avg return

Earnings day

+1.9%

Avg return

5 days after

+3.5%

Avg return

30 days after

46%

29 / 63 earnings

Positive

+7.8%

Q3 2024

Best reaction

-6.3%

Q3 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.3%-1.4%-0.6%
Q4 2025-1.1%-7.7%-4.2%
Q3 2025-0.3%+3.7%+3.2%
Q2 2025-2.2%-1.2%+2.7%
Q1 2025+0.9%+4.4%+6.1%
Q3 2024+7.8%+3.5%+16.8%
Q2 2024-1.3%-0.3%-4.0%
Q1 2024+3.2%+8.9%+12.1%
Q3 2023+0.4%-1.1%+7.1%
Q2 2023+5.6%+8.7%+2.6%
Q1 2023-0.1%-3.5%-10.3%
Q4 2022+6.6%+9.6%+10.7%
Q3 2022+2.2%+7.8%+17.7%
Q2 2022-2.1%-1.7%-3.0%
Q1 2022+2.2%+3.9%+9.3%
Q4 2021+0.9%+0.9%+0.1%
Q3 2021+2.3%+4.3%+1.4%
Q2 2021-3.5%-4.9%-4.4%
Q1 2021+2.2%+7.1%+12.1%
Q4 2020-4.8%-0.7%+15.9%
Q3 2020+6.0%+8.4%+11.0%
Q2 2020+7.8%+3.0%+2.4%
Q1 2020-4.5%+6.4%+2.0%
Q4 2019-1.1%-3.7%-2.9%
Q3 2019-1.0%+0.2%+0.3%
Q2 2019+4.2%+4.1%-7.6%
Q1 2019-5.5%-2.8%-6.2%
Q4 2018-2.5%+3.0%+7.0%
Q3 2018-1.6%+0.1%+3.6%
Q2 2018+3.3%+1.0%+3.3%
Q1 2018-0.4%+0.4%+6.0%
Q4 2017-0.7%-1.0%-3.1%
Q3 2017+4.6%+5.7%-3.8%
Q2 2017+1.7%+1.7%-1.7%
Q1 2017+0.8%-0.8%-0.8%
Q4 2016+4.4%+3.9%+5.3%
Q3 2016-3.7%-0.6%+14.9%
Q2 2016+0.7%+4.9%+10.4%
Q1 2016-2.0%
Q4 2015+0.0%
Q3 2015+0.2%
Q2 2015-3.1%
Q1 2015+2.8%
Q4 2014+2.7%
Q3 2014-5.2%
Q2 2014-1.5%
Q1 2014+0.4%
Q4 2013-0.4%
Q3 2013-2.8%
Q2 2013-4.1%
Q1 2013-3.2%
Q4 2012+1.2%
Q3 2012+0.0%
Q2 2012+0.7%
Q1 2011-4.7%
Q1 2012+2.2%
Q4 2010+3.2%
Q4 2011+3.2%
Q3 2011-6.3%
Q3 2010-6.3%
Q2 2011-2.5%
Q2 2010-2.5%
Q1 2010-2.4%

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