OSBC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• ●We recorded a net provision for credit losses on loans and leases of $7.5 million in the second quarter of 2026, driven by quarterly net charge-offs of $9.2 million. We recorded a net provision for credit losses of $2.5 million in the second quarter of 2025, $2.2 million of which was related to cre…

• Our income before taxes was $71.9 million for the six months ended June 30, 2026, compared to $55.4 million for the six months ended June 30, 2025. This increase in pretax income was primarily due to a $37.3 million increase in net interest and dividend income and a $4.8 million increase in noninter…

• Net interest and dividend income was $164.5 million for the six months ended June 30, 2026, compared to $127.1 million for the same period of 2025. The $37.3 million increase was primarily driven by an increase in loan related income and fees of $53.4 million due to the loan portfolio acquired from …

• Our net interest margin (GAAP) increased 38 basis points to 5.21% for the three months ended June 30, 2026, compared to 4.83% for the three months ended June 30, 2025. Our net interest margin (TE) increased 38 basis points to 5.23% for the three months ended June 30, 2026, compared to 4.85% for the …

• The increased yield of 11 basis points on interest earning assets for the three months ended June 30, 2026 as compared to the linked period was primarily driven by the increased yields on loans and securities. Changes in the market interest rate environment impact earning assets at varying intervals…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• ●We recorded a net provision for credit losses on loans and leases of $9.5 million in the first quarter of 2026, driven by quarterly net charge-offs of $9.8 million. Partially offsetting this expense, we recorded a reversal of $101,000 in our allowance for unfunded commitments in the first quarter o…

• The decreased yield of three basis points on interest earning assets for the three months ended March 31, 2026 as compared to the linked period was primarily driven by the decreased yield on loans coupled with lower average loan balances. Changes in the market interest rate environment impact earnin…

• Average balances of interest bearing deposit accounts have decreased significantly since the fourth quarter of 2025 through the first quarter of 2026, from $3.94 billion to $3.83 billion. Of the $119.2 million decrease in average interest bearing deposit account balances, time deposits accounted for…

• Borrowing costs increased in the first quarter of 2026, compared to the fourth quarter of 2025. Changes in our borrowing costs are generally driven by fluctuations in balance and related rates on other short-term borrowings, which are overnight FHLB advances; these fluctuations are based on the dail…

• Our net interest margin, for both GAAP and tax equivalent (“TE”) presentations, showed noticeable growth over the prior linked quarter period and over the prior year like quarter discussed above. Our net interest margin (GAAP) increased five basis points to 5.12% for the first quarter of 2026, compa…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• We manage interest rate risk within limits established by our asset-liability policy to reduce the impact of interest rate changes on earnings. We are exposed to credit, liquidity, and interest rate risk, but are not subject to significant foreign currency or commodity price risk. Our Asset and Liab…

• As of June 30, 2026, the balance sheet remained moderately asset-sensitive, as variable-rate assets generally reprice more quickly than our longer-duration, lower-beta deposit base. Changes in interest rates and yield curve dynamics may affect net interest income, funding costs, and the value of int…

• The Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75% during the second quarter of 2026. Forward market rates increased during the quarter and the yield curve shifted as market expectations for monetary policy evolved. Following the appointment of…

• Net interest income is influenced by economic conditions, regulatory actions, asset and liability repricing characteristics, customer behavior, competitive pricing pressures, yield curve dynamics, basis risk between indices such as SOFR and Prime, and changes in balance sheet composition.

• We utilize simulation analysis to estimate the impact of interest rate scenarios on net interest income. The model incorporates expected cash flows, repricing characteristics, and embedded options within assets and liabilities. Earnings at risk are calculated by comparing net interest income under a…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• The Federal Reserve Board (“FRB”) held the federal funds target rate at a range of 3.50% to 3.75% during the first quarter of 2026, consistent with market expectations. Economic conditions remained relatively stable, and the forward curve currently does not reflect expectations for interest rate cut…

• We manage interest rate risk within guidelines established by our asset-liability policy, which are designed to limit the level of interest rate exposure. In practice, we seek to manage interest rate risk so that potential exposure does not pose a material risk to future earnings. We are exposed to …

• Our net income may be influenced by a number of external factors. These factors include overall economic conditions and actions taken by regulatory authorities. Net income may also be affected by the amounts of and rates at which assets and liabilities reprice, differences between assumed and actual…

• Our Asset‑Liability Committee (“ALCO”) manages interest rate risk across a range of interest rate environments by structuring our on- and off‑balance sheet positions, including the use of interest rate swap derivatives, as discussed in Note 19 to the consolidated financial statements in our Annual R…

• We also maintain a Risk Committee that is chaired by our Chief Risk Officer. The committee reports no less than quarterly to senior management and the Board of Directors on compliance with established risk tolerance limits and on changes in key risk factors arising from portfolio activity and market…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• James L. Eccher, Chairman, President and Chief Executive Officer of the Company, adopted a Rule 10b5-1 trading arrangement on May 1, 2026, as such term is defined in Item 408(a) of Regulation S-K, that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act (the “Trad…

• During the quarter ended June 30, 2026, none of the Company’s other directors or officers adopted or terminated any contract, instruction, or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• During the three months ended March 31, 2026, neither the Company, nor any director or “officer” of the Company, adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.