Old Second Receives "Outstanding" Community Reinvestment Act Rating

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[{"type":"text","content":"AURORA, IL / ACCESSWIRE / April 5, 2022 / Old Second Bancorp, Inc. (NASDAQ:OSBC) announced that its banking subsidiary, Old Second National Bank (\"Old Second\"), has again received an overall \"Outstanding\" rating from the Office of the Comptroller of the Currency (\"OCC\") in its most recent Community Reinvestment Act (\"CRA\") Performance Evaluation covering the years 2018 through 2020.In its evaluation, the OCC assessed Old Second's performance in helping to meet the credit needs of low- and moderate-income (\"LMI\") individuals, as well as its deployment of capital and other products and services in the LMI communities it serves.\"We are extremely proud of our commitment to our local communities, as reflected in our most recent CRA rating,\" said James Eccher, President and Chief Executive Officer of Old Second Bancorp and Old Second. \"The investments we make in our communities and our efforts to support economic growth, affordable housing and accessible banking services is part of the Old Second culture, and we will continue to focus on making a difference in our communities.\"The OCC highlighted multiple achievements in its evaluation of Old Second, with an emphasis on its outstanding lending and investment performance. Select highlights included, Old Second's:level of community development lending within its assessment area;significant efforts to assist LMI borrowers during the COVID pandemic though the use of innovative and flexible lending programs;excellent distribution of loans among individuals of different income levels and businesses of different sizes;overall level of qualified Community Development investments, which the OCC considered to be excellent, with responsiveness to credit and community development needs; andleadership in providing Community Development services, with employees volunteering frequently and holding leadership positions in community organizations and local not-for-profits.The Outstanding CRA rating reflects Old Second's commitment to support underserved communities. Old Second plans to continue to positively impact its communities through its delivery of credit, banking services and financial literacy programs. Throughout its growing footprint, Old Second has invested millions of dollars in initiatives that are intended to stimulate job growth, create affordable housing opportunities and...

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