OSBC — what changed in the latest 10-Q
A section-by-section comparison of OSBC's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +41 | −62 | ~28 | 27 |
| Market risk (Item 3) | Text added/removed | +7 | −6 | ~2 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | 0 | −3 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
On July 1, 2025, we completed our previously announced acquisition of Bancorp Financial, Inc. (“Bancorp Financial”), pursuant to the agreement and plan of merger dated February 24, 2025. At the effective time of the acquisition, Bancorp Financial merged with and into the Company, with the Company co…
As of July 1, 2025, Bancorp Financial had approximately $1.43 billion of total assets, $1.20 billion of total loans, and $1.23 billion of total deposits. The consideration paid totaled $189.4 million and consisted of 7.9 million shares of Old Second common stock and $48.9 million in cash. The system…
Net income for the first quarter of 2026 was $25.6 million, or $0.48 per diluted share, compared to $28.8 million, or $0.54 per diluted share, for the fourth quarter of 2025, and $19.8 million, or $0.43 per diluted share, for the first quarter of 2025. Net income increased compared to the prior year…
Acquisition related costs, net of (gains) losses on branch sales
●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…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
On December 6, 2024, we completed our branch transaction with First Merchants Bank (“FRME”). Under the terms of the purchase and assumption agreement, we assumed approximately $268.0 million in deposits related to the branch locations acquired and purchased approximately $7.1 million in branch-relat…
On July 1, 2025, we completed our previously announced acquisition of Bancorp Financial, Inc. (“Bancorp Financial”), pursuant to the agreement and plan of merger dated February 24, 2025. At the effective time of the acquisition, Bancorp Financial merged with and into the Company, with the Company co…
As of July 1, 2025, Bancorp Financial had approximately $1.43 billion of total assets, $1.19 billion of total loans, and $1.23 billion of total deposits. The consideration paid totaled $189.4 million and consisted of 7.9 million shares of Old Second common stock and $48.9 million of cash. The system…
Our results of operations for the third quarter of 2025 include three full months of Bancorp Financial operations. Net income for the third quarter of 2025 was $9.9 million, or $0.18 per diluted share, compared to $21.8 million, or $0.48 per diluted share, for the second quarter of 2025, and $23.0 m…
1 Adjusted net income for the quarter ended September 30, 2025, uses a blended income tax rate of 24.74%, which is slightly higher than the effective tax rate utilized for GAAP earnings due to the tax treatment of certain acquisition related costs.
Market risk (Item 3)
Text added 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…
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…
We utilize simulation analysis to quantify the potential impact of various interest rate scenarios on net interest income. The simulation model incorporates expected cash flows, repricing characteristics, and embedded options of our assets and liabilities. Earnings at risk are calculated by comparin…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
The Federal Reserve Board (“FRB”) reduced the Federal Funds target rate by 50 basis points in 2025 to a range of 3.75% - 4.00%, widely expected by market participants. While hiring and firing remained low, the FRB acknowledged the recent slowdown in job creation suggests a weakening labor market. Al…
Our net income can be significantly influenced by a variety of external factors, including: overall economic conditions, policies and actions of regulatory authorities, the amounts of and rates at which assets and liabilities reprice, variances in prepayment of loans and securities other than those …
We also have a risk committee, chaired by our Chief Risk Officer, which reports no less than quarterly to senior management as well as our Board of Directors regarding compliance with risk tolerance limits, key risk factor changes, both internally and externally, due to portfolio changes as well as …
We use simulation analysis to quantify the impact of various rate scenarios on our net interest income. Specific cash flows, repricing characteristics, and embedded options of the assets and liabilities held by us are incorporated into the simulation model. Earnings at risk are calculated by compari…
The amounts and assumptions used in the simulation model should not be viewed as indicative of expected actual results. Actual results will differ from simulated results due to timing, magnitude, balance sheet composition and frequency of interest rate changes as well as changes in market conditions…
Legal proceedings
Text removed vs the prior filing · source: 10-Q · 2025-11-06
Investing in shares of our common stock involves certain risks, including those identified and described in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as well as cautionary statements contained in this Quarterly Report, on Form 10-Q, including those under …
In addition to the risk factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, we have identified a new risk factor related to our powersports loan portfolio, as described below. Except as set forth herein, there have been no material changes to t…
Our powersports loan portfolio, acquired as part of the Bancorp Financial transaction, exposes us to unique risks that differ from our traditional lending activities. Powersports loans generally have higher yields but also higher default rates and loss severities, particularly during periods of econ…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice