[8-K] OLD SECOND BANCORP INC Reports Material Event
Rhea-AI Filing Summary
Old Second Bancorp, Inc. authorized a new share repurchase program for up to $43.9 million of its common stock. The company received a letter from the Federal Reserve Bank of Chicago indicating its nonobjection to this buyback plan.
Repurchases may occur from time to time in the open market, under trading plans, through privately negotiated transactions, or by other lawful methods, at management’s discretion. The pace, amount, and pricing of repurchases will depend on the stock price, market and economic conditions, and legal and regulatory requirements, and the company is not obligated to buy back any shares.
The program can be started, paused, or restarted at any time, but any repurchases after December 31, 2026 would require new nonobjection or approval from the Federal Reserve.
Positive
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Insights
OSBC gains flexibility to return up to $43.9M to shareholders via buybacks.
Old Second Bancorp obtained Federal Reserve nonobjection for a share repurchase program authorizing up to $43.9 million of common stock. This gives management a discretionary tool to manage capital levels, share count, and earnings per share over time.
Repurchases may be executed through open-market trades, trading plans, privately negotiated deals, or other methods, subject to market conditions and regulatory and legal limits. Activity can be initiated, halted, or restarted, and the company has no obligation to use the full authorization.
The authorization runs through December 31, 2026, after which further repurchases would require additional Federal Reserve nonobjection or approval. Actual impact on capital and per-share metrics will depend on how much of the $43.9 million capacity management chooses to deploy.
I
United States
Securities And Exchange Commission
Washington, D.C. 20549
FORM
Current Report
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Item 8.01 | Other Events. |
The Board of Directors of Old Second Bancorp, Inc. (the “Company”) has authorized the repurchase of up to $43.9 million of shares of the Company’s common stock (the “Repurchase Program”). On January 27, 2026, the Company received a letter from the Federal Reserve Bank of Chicago (the “Federal Reserve”) dated January 8, 2026, indicating its nonobjection to the Repurchase Program. Repurchases by the Company under the Repurchase Program may be made from time to time through open market purchases, trading plans established in accordance with U.S. Securities and Exchange Commission rules, privately negotiated transactions, or by other means.
The actual means and timing of any repurchases, quantity of purchased shares and prices will be, subject to certain limitations, at the discretion of management and will depend on a number of factors, including, without limitation, market prices of the Company’s common stock, general market and economic conditions, and applicable legal and regulatory requirements. Repurchases under the Repurchase Program may be initiated, discontinued, suspended or restarted at any time; provided, that repurchases under the Repurchase Program after December 31, 2026 would require Federal Reserve non-objection or approval. The Company is not obligated to repurchase any shares under the Repurchase Program.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
OLD SECOND BANCORP, INC. | ||
Dated: January 29, 2026 | By: | /s/ Bradley S. Adams |
Bradley S. Adams | ||
Executive Vice President, | ||
Chief Operating Officer, and | ||
Chief Financial Officer | ||
