Old Second Bancorp, Inc. (OSBC) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and thank you for joining us today for Old Second Bank Calls Incorporated's first quarter 2025 earnings call. On the call today are Jim Ecker, the company's chairman, president and CEO, Brad Adams, the company's chief operating officer and chief financial officer, and Gary Collins, the vice chairman of our board. I will start with a reminder that all second comments today will contain forward-looking statements about the company's business, strategies and prospects, which are based on management's existing expectations in the current economic environment. These statements are not a guarantee of future performance and results may differ materially from those projected. Management would ask you to refer to the company's SEC filing for a full discussion of the company's risk factors. The company does not undertake any duty to update such forward-looking statements. On today's call, we will be discussing certain non-GAAP financial measures. These non-GAAP measures are described and reconciled to their GAAP counterparts in our earnings race, which is available on our website at oldsecond.com, on the home page, and under the Investor Relations tab. Now I'd like to turn the call over to Mr. Jim Eckert. Good morning, everyone. Thank you for joining us. As customary, I have a couple of prepared opening remarks. We'll give my own view of the quarter and then turn it over to Brad for some additional details. I will then conclude with certain summary comments and thoughts about the future before we open it up to questions. Net income was $19.8 million, or 43 cents per diluted share in the first quarter of 2025. Our way was 1.42%. First quarter of 2025 return on average tangible common equity was 14.70%, and the tax equivalent efficiency ratio was 55.48%. Fi...