Old Second Bancorp to Acquire First Merchants' 5 Branches in Illinois [Yahoo! Finance]
Old Second Bancorp, Inc. (OSBC)
Last old second bancorp, inc. earnings: 4/22 05:30 pm
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Source: Yahoo! Finance
These branches are located in Southeast Chicago MSA. Details of the Acquisition by Old Second Bancorp OSBC will pay a total cash consideration of roughly $23 million, equivalent to a 7.5% deposit premium to First Merchants. The company expects to assume roughly $304 million in deposits and almost $12 million in loans associated with these branches. The deal is expected to be completed by 2024-end, subject to regulatory approvals. Until then, these five branches will continue to operate under First Merchants' name. These will be rebranded as Old Second Bancorp's branches immediately upon closure of the transaction. OSBC's Strategic Rationale Behind the Deal The acquisition is expected to strengthen OSBC's status as one of the largest banks headquartered in Chicagoland and significantly expand its existing branch network, specifically in the Southeast Chicago market. For First Merchants, this divestiture completes its branch exit from suburban Chicago markets. This move al
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OSBC
News
- Old Second Bancorp's (NASDAQ:OSBC) Upcoming Dividend Will Be Larger Than Last Year's [Yahoo! Finance]Yahoo! Finance
- Old Second Bancorp, Inc. (NASDAQ: OSBC) was given a new $22.50 price target on by analysts at Piper Sandler.MarketBeat
- Old Second Bancorp, Inc. (NASDAQ: OSBC) was given a new $18.00 price target on by analysts at DA Davidson.MarketBeat
- Old Second Bancorp, Inc. (NASDAQ: OSBC) had its price target raised by analysts at Piper Sandler from $22.50 to $23.00. They now have an "overweight" rating on the stock.MarketBeat
- Old Second Bancorp, Inc. (OSBC) Q3 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
OSBC
Earnings
- 10/16/24 - Beat
OSBC
Sec Filings
- 11/13/24 - Form SCHEDULE
- 11/12/24 - Form 4
- 11/7/24 - Form 10-Q
- OSBC's page on the SEC website