Old Second Bancorp, Inc. · Aurora, IL United States ·(NASDAQ (GS): OSBC)
Company Description
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This link will open in a new window Old Second isn't a thrift shop, but it does cater to the thrifty. Old Second Bancorp is the holding company for Old Second National Bank, which operates about 35 bank and lending offices in Chicago and its suburbs. The bank provides a variety of business, retail, and trust services to individual and business customers, including demand, savings, time deposit, and retirement accounts; and a range of consumer and commercial lending, as well as credit card and investment services. Bank subsidiary Old Second Affordable Housing Fund provides home buying assistance to lower income customers. Bancorp subsidiary Old Second Financial provides insurance products and services. To read the full description, subscribe now.
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Key Old Second Bancorp, Inc. Financials
| Company Type | Public - NASDAQ (GS): OSBC Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $124.8 |
| 2007 Employees | 541 |
Old Second Bancorp, Inc. Executives
18 executives listed for Old Second Bancorp, Inc.'s Aurora, IL location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO; Chairman, Old Second National Bank | William Skoglund | Network |
| EVP, COO, and Director; President and CEO, Old Second National Bank | James Eccher | Network |
| EVP, CFO, and Director | J. Douglas Cheatham | Network |
Competition
Competitive Landscape for Old Second Bancorp, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Old Second Bancorp, Inc. Competitors
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