OLD SECOND BANCORP INC - 10-K filing on 2022-03-10

Parent Company Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2020


	2021		2020
Assets
Noninterest bearing deposit with bank subsidiary	$	25,112	$	47,601
Investment in subsidiaries		626,325		353,722
Other assets		1,111		3,270
Total assets	$	652,548	$	404,593

Liabilities and Stockholders’ Equity
Junior subordinated debentures	$	25,773	$	25,773
Subordinated debt		59,212		-
Senior notes		44,480		44,375
Notes payable		13,000		17,000
Other liabilities		8,056		10,358
Stockholders’ equity		502,027		307,087
Total liabilities and stockholders' equity	$	652,548	$	404,593


	2021		2020		2019
Operating Income
Cash dividends received from subsidiaries	$	40,000	$	41,300	$	20,000
Other income		15		32		109
Total operating income		40,015		41,332		20,109
Operating Expenses
Junior subordinated debentures		1,133		2,216		3,724
Subordinated debt		1,610		-		-
Senior notes		2,692		2,693		2,700
Notes payable		291		362		-
Other interest expense		-		-		13
Other expenses		6,918		3,669		4,025
Total operating expense		12,644		8,940		10,462
Income before income taxes and equity in undistributed net income of subsidiaries		27,371		32,392		9,647
Income tax benefit		(2,986)		(2,215)		(3,187)
Income before equity in undistributed net income of subsidiaries		30,357		34,607		12,834
Equity in undistributed net income of subsidiaries		(10,313)		(6,782)		26,621
Net income available to common stockholders	$	20,044	$	27,825	$	39,455


	2021		2020		2019
Cash Flows from Operating Activities
Net Income	$	20,044	$	27,825	$	39,455
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed net income of subsidiaries		10,313		6,782		(26,621)
Provision for deferred tax expense (benefit)		(248)		(514)		4,186
Change in taxes payable		(695)		5,933		3,896
Change in other assets		(12)		954		-
Stock-based compensation		1,435		2,089		2,516
Other, net		961		682		(80)
Net cash provided by (used in) operating activities		31,798		43,751		23,352

Cash Flows from Investing Activities
Cash paid for acquisition, net of cash and cash equivalents retained		(94,406)		-		-
Net cash used in investing activities		(94,406)		-		-

Cash Flows from Financing Activities
Net change in other short-term borrowings		-		-		(4,000)
Dividend paid on common stock		(4,612)		(1,186)		(1,195)
Purchases of treasury stock		(10,417)		(5,922)		(666)
Redemption of junior subordinated debentures		-		(32,604)		-
Issuance of term note		-		20,000		-
Issuance of sub debt		59,148		-		-
Repayment of term note		(4,000)		(3,000)		-
Proceeds from exercise of stock option		-		-		32
Net cash (used in) provided by financing activities		40,119		(22,712)		(5,829)
Net change in cash and cash equivalents		(22,489)		21,039		17,523
Cash and cash equivalents at beginning of year		47,601		26,562		9,039
Cash and cash equivalents at end of year	$	25,112	$	47,601	$	26,562