Old Second Bancorp Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Announces Net Charge-Offs for the Four the Quarter of 2012
January 23, 2013 at 04:07 pm EST
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Old Second Bancorp Inc. announced unaudited earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net interest and dividend income of $13,917,000 compared to $15,017,000 a year ago. Net income was $1,524,000 compared to net loss of $3,001,000 a year ago. Net income available to common stockholders was $253,000 compared to net loss available to common stockholders of $4,207,000 a year ago. Return on average assets was 0.31% compared to negative return on average assets of 0.62% a year ago. Return to common stockholders on average assets was 0.05% compared to negative return to common stockholders on average assets of 0.86% a year ago. Return on average equity was 8.45% compared to 15.37% a year ago. Return on average common equity was 4,026.00% compared to negative return on average common equity of 247.56% a year ago. Basic and diluted earnings per share were $0.02 compared to basic and diluted loss per share of $0.30 a year ago. Income before income taxes was $1,524,000 compared to loss before income taxes of $3,001,000 a year ago.
For the year, the company reported net interest and dividend income of $59,346,000 compared to $63,950,000 a year ago. Net loss was $72,000 compared to net loss of $6,498,000 a year ago. Net loss available to common stockholders was $5,059,000 compared to $11,228,000 a year ago. Negative return to common stockholders on average assets was 0.26% compared to 0.56% a year ago. Negative return on average equity was 0.10% compared to 8.15% a year ago. Negative return on average common equity was 848.83% compared to 120.30% a year ago. Basic and diluted loss per share were $0.36 compared to $0.79 a year ago. Common book value per share was $0.05 compared to negative common book value per share of $0.11 a year ago. Negative tangible common book value per share was $0.18 compared to tangible common book value per share of $0.20 a year ago. Loss before income taxes was $72,000 compared to $6,498,000 a year ago.
For the quarter, the company reported net charge-offs of $1,660,000 compared to $9,242,000 a year ago.
Old Second Bancorp, Inc. serves as the bank holding company for its wholly owned subsidiary bank, Old Second National Bank (the Bank). The Bank is a full-service banking business offering a range of deposit products, trust and wealth management services, lending services, and deposit services, including demand, NOW, money market, savings, time deposit and individual retirement accounts. It also offers commercial, industrial, consumer and real estate lending, including installment loans, agricultural loans, lines of credit, lease financing receivables and overdraft checking, and safe deposit operations. It provides variety of additional services to the needs of individual customers, such as the money orders, cashiersâ checks and foreign currency, direct deposit, discount brokerage, debit cards, credit cards, and other special services. It also provides complement of electronic banking services such as online and mobile banking and corporate cash management products.
Old Second Bancorp Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Announces Net Charge-Offs for the Four the Quarter of 2012
OLD SECOND BANCORP, INC. 
