Stock on pace for biggest decrease since 2020

  • Old Second Bancorp shares down 8.9% after 4Q profit drop
  • Largest percentage decrease since April 2020
  • Net profit of $18.2 million, compared to $24.3 million last year
  • Increased provision for credit losses and expenses
  • Common equity Tier 1 ratio at 12.32%

Shares of Old Second Bancorp dropped 8.9% after the company reported a drop in fourth quarter profit. The stock is on pace for its largest percentage decrease since April 2020. The company posted a net profit of $18.2 million, compared to $24.3 million last year. This decline was attributed to a higher provision for credit losses and increased expenses. Old Second Bancorp ended the year with a common equity Tier 1 ratio of 12.32%.

Public Companies: Old Second Bancorp (Ticker not mentioned), Old Second National Bank (Ticker not mentioned)
Private Companies:
Key People:

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Factuality Level: 8
Justification: The article provides specific information about Old Second Bancorp’s decline in fourth quarter profit, higher provision for credit losses, and increased expenses. It also includes details about the stock’s decline and compares it to a previous decrease. The article mentions the net profit and net provision of credit losses for the company. Overall, the information provided seems factual and based on reported financial data.

Noise Level: 3
Justification: The article provides relevant information about Old Second Bancorp’s decline in fourth quarter profit, higher provision for credit losses, and increased expenses. It includes specific details such as the stock price decline and the net profit figures. However, it lacks in-depth analysis, scientific rigor, and actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Old Second Bancorp

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article pertains to the financial performance of Old Second Bancorp, with a decline in fourth-quarter profit and increased provision for credit losses. However, there is no mention of any extreme event or its impact.

Reported publicly: www.marketwatch.com