Old Second Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Announces Net Charge-Offs for the Fourth Quarter of 2015
January 20, 2016 at 04:07 pm
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Old Second Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. The company reported net income of $3.8 million for the fourth quarter of 2015, compared to net income of $3.0 million in the fourth quarter of 2014 and $3.9 million in the third quarter of 2015. The company's net income available to common stockholders of $3.8 million, or $0.13 per diluted share for the fourth quarter of 2015, compared to $1.9 million, or $0.06 per diluted share, in the fourth quarter of 2014. Total interest and dividend income was $17.056 million compared to $17.498 million a year ago. Net interest and dividend income was $14.750 million compared to $15.142 million a year ago. Income before income taxes was $6.062 million compared to $4.766 million a year ago.
The full year 2015 net income available to common stockholders of $13.5 million or $0.46 per diluted share compared to $11.9 million or $0.46 per diluted share in 2014. Total interest and dividend income was $68.164 million compared to $68.044 million a year ago. Net interest and dividend income was $59.088 million compared to $57.060 million a year ago. Income before income taxes was $24.361 million compared to $15.897 million a year ago.
For the quarter, the company announced net charge-offs of $390,000 against $393,000 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. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Announces Net Charge-Offs for the Fourth Quarter of 2015