Old Second Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Reports Net Charge-Offs for the Fourth Quarter of 2011
January 25, 2012 at 04:07 pm
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Old Second Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, net interest and dividend income was $15.02 million against $18.16 million a year ago. Net loss available to common stockholders was $4.21 million or $0.30 diluted per share against $77.77 million or $5.48 diluted per share a year ago. Negative return on average assets was 0.62% against 13.29% a year ago. Negative return on average equity was 15.37% against 192.49% a year ago. Negative return to common stockholders on average assets was 0.86% against 13.49% and negative return on average common equity was 247.56% against 350.13% reported last year. Common book value per share was $0.22 against $1.01 and negative tangible common book value per share was $0.11 against tangible common book value per share of $0.61 reported last year. Interest income was $20.1 million against $24.5 million reported last year.
For the year, net interest and dividend income was $63.95 million against $78.61 million a year ago. Net loss available to common stockholders was $6.50 million or $0.79 diluted per share against $108.65 million or $8.03 diluted per share a year ago. Negative return on average assets was 0.32% against 4.48% a year ago. Negative return on average equity was 8.15% against 61.79% a year ago. Negative return to common stockholders on average assets was 0.56% against 4.66% and negative return on average common equity was 120.30% against 106.41% reported last year. Interest income was $85.8 million against $107.7 million reported last year.
For the fourth quarter the bank reported net charge-offs of $9.24 million against $5.86 million for the same period of last year.
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 Year Ended December 31, 2011; Reports Net Charge-Offs for the Fourth Quarter of 2011
OLD SECOND BANCORP, INC. 
