Old Second Bancorp director Temple Rocks purchases $100,067 in stock

Investing.com

Published Dec 26, 2024 02:45PM ET

Old Second Bancorp director Temple Rocks purchases $100,067 in stock

Temple Rocks, a director at Old Second Bancorp Inc. (NASDAQ:OSBC), has recently acquired 5,625 shares of the company's common stock. The regional bank, currently valued at $795.7 million, has demonstrated strong momentum with a 25.3% price return over the past six months and maintains a GREAT financial health score according to InvestingPro subscribers can access 7 additional key insights and a comprehensive Pro Research Report about OSBC's valuation and future prospects.

In other recent news, Old Second Bancorp has been making significant strides in the financial sector. The company reported robust financial results for the third quarter of 2024, with a net income of $23 million. Additionally, Old Second Bancorp announced a 20% increase in its common dividend, signaling confidence in its financial performance.

The company's recent acquisition of five branches in Southeast Chicago, adding approximately $275 million in deposits, demonstrates its effective execution of market share expansion strategies. Raymond (NS:RYMD) James upgraded Old Second Bancorp from Outperform to Strong Buy, citing a resilient net interest margin, strategic market share gains, and a favorable economic outlook.

Old Second Bancorp also announced a new stock repurchase program authorized by its Board of Directors, under which it may buy back up to $39.1 million of its common stock. This move is part of the company's capital management strategy and reflects its commitment to enhancing shareholder value.

Despite some challenges, including a recent $14 million non-performing loan identification, these are the recent developments for Old Second Bancorp. The company aims for mid-single-digit organic loan growth and projects expense growth of 3-5% next year, primarily driven by salaries and benefits.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Get The News You Want
Read market moving news with a personalized feed of stocks you care about.
Get The App

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes