Old Second Bancorp Posts Q3 Net Income of $28.9 Million, Missing Analyst Estimates

Old Second Bancorp Inc. (OSBC) reported third-quarter net income of $28.9 million on Wednesday, with earnings and revenue both falling short of Wall Street expectations. The Aurora, Illinois-based bank said it had earnings of 56 cents per share, or 55 cents per share adjusted for non-recurring gains. Five analysts surveyed by Zacks Investment Research had expected 59 cents per share. Revenue totaled $115.2 million for the period, while revenue net of interest expense came to $97.1 million, also below the $98 million forecast by five Zacks analysts.