OSBC - Earnings call transcript Q4 2021 | Old Second Bancorp, Inc.

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Operator

Good morning, everyone and thank you for joining us today for Old Second Bancorp, Inc's Fourth Quarter 2021 Earnings Call.

On the call today is Jim Eccher, the company's CEO, Gary Collins, the Vice Chairman of our Board, and the company's CFO, Brad Adam. I will start with a reminder that Old Second 's comments today may contain Forward-looking statements about the company's business, strategies and prospects, which are based on management's existing expectations in the current economic environment. These statements are not a guarantee of future performance, and results may differ materially from those projected. Management would ask you to refer to the company's SEC filings for a full discussion of the company's risk factors. will discussing we measures. non-GAAP call, today's also certain be financial On our on non-GAAP reconcile Relations release, our on to are tab. which at their available These described in to measures the homepage the under GAAP counterparts is website Investor oldsecond.com, earnings

Now it turn will to Jim I Eccher. over

Jim Eccher

I joining for thank turn before then of several the about will and I then prepared additional give opening summary Good morning thoughts up us. will overview and remarks over we for my Brad to it details. you for some and with have and I it conclude open quarter questions. comments future the

credit Okay. or $X.XX in Net losses per costs, quarter. Net was fourth $X.XX or the adjustments quarter. fourth $X.X income, the loss million diluted excluding per share for to share and $XX.X was merger-related million in acquisition-related provision our

on impacted well the return was XX.X%. X.XX% basis, $X.X net favorably were XX.X%, same favorable as inclusion legacy losses interest of West more income, million the year. Suburban over a the on equity unemployment Earnings efficiency due and next the assets for ratio was credit of one provision by tangible to quarter common projections reversal month as was On the this return

resulted of some a MSR statements. closed which valuation on transformational million In financial We addition, in changes our mark-to-market $X.X in fourth acquisition recorded Xst, December quarter. gain to the was the Suburban West

now it for financial XX.X% delivered beta, ROTC an West $X.XX in $X.X X granular future XXXX, have in loans, billion on was $XX.X $X.X we Suburban in of Overall, We or CECL and billion story the were per the and earnings acquisition the the ROA in charges full-year, for with assets, very million in and pleased billion $X.X can us. deposits. basis. the including same mean efficiency -- adjustments. was share, the X.XX%, the we're diluted what is and performance For the merger-related clearly incredibly us XX.XX%, was but ratio low excluding

spread order quality deploying fully for on investments loan the obviously deposit short-term build focused and the origination not back more risk. The portfolio to base liquidity loan-to-deposit goal leverage term securities drive excess are on the plus that or equity in long performance. in the prudent We making an the in commensurate XX% recent carry our in credit order do by to with the is building towards capability ratio returns historical commercial to of

portfolio extension reducing with both liquidity and XXXX. duration fair this purchases the and quarter specifically, a upon certainly have with the security portfolio of the fair significantly regards security of of valued executed at sheet We thereby or of plan portfolio There west suburban portfolio. associated portfolio, cost and the quarter-over-quarter risk. $X.XX in fourth $XXX.X the the including the was are the and was progress. actions. order doing to $XXX.X strategy. close for making acquisition loan improved value the inclusion of the balance growth, these from to In million billion west in of in align its reduce year-end. and and million entirety, securities suburban was the a The securities it immediately We quarter included within subsequent income our throughout at sale We XX% of investment This to portfolio our available recorded, sales, growth

exclusive Old $X.X the of the addition million from when that year, fourth of round quarter remain PPP announced we shared Second $XX.X the billion transaction second million for legacy Our unchanged. quarter. Suburban outstanding Suburban of Only and the for both outlook with of growth the merger, West loans the as of of $XX.X both West as $XX.X as and PPP included loan from first end loans we pay-downs which portfolios. includes well Period-end is of organic the you million

by have seen mode, far the our growth by both since pandemic encouraged end we are returning and We to that pipeline began. strongest quarter the at is

significant healthcare. and builds seeing pipeline commercial and real are We estate

After activity year fourth and utilization CNI quarter as up will equipment Although line leasing remains year, the a soft. strong ramp new last unfolds.

XXXX. new vertical West is solid million the newly to increase team leasing West sponsor see along can third loans with Non-performing the quarter, added three growth CRE With addition an acquired a I'm new in that started in the experienced XXXX. compared the Suburban Suburban team the us loan quarter finance $XX.X a increased senior attributable we and The to by portfolio. the fourth of prior with with leading credits. quarter, in of optimistic officer

Importantly, legacy $X decreased in quarter. Non-performing million the Old loans Second

million did increased credits loans is commercial The classified legacy West in million $XX.X these fully allowance West changes. prior Suburban, due from sold we legacy in December. totaled the credits acquisition large strength portfolios. charge-off Other credit three We properties the portfolio. the on were in loans. of real December for acquire are Additionally, million quarters. one quarter. net the of remain West of release X.X% of fourth two commercial of charge-offs from and did two in quarter large of $X.X $XX.X our estate the as the earnings million the losses allocated available these owned portfolio and total minimal XXst, Second Suburban increase $XX.X tables Old had as were inclusion to materially, real estate in we a on Suburban to for of in Both Total [Indiscernible] resulting did confident not Details at which the

million adjustment losses credit PCD for to acquired and ACL, million date at estimated fourth increased the as the well losses of future loans, the marked the acquired the as loans XXXX, $XX.X credit non-PC for of loans. on of provision credit quarter During XX.X based

was At future of XX,XXX $X.X unfunded of [Indiscernible] reserves million recorded credit loans credit losses our the reversed quarter-end, estimate. reversed, based on provision was unfunded million commitments day and for losses $X.X for addition, of review to for realization In to for was provision losses on trends. the commitments

continues Suburban asset identified significant this as underlying overlapping we reserved the continues branches are overweight to the have discipline branches base improve, newly high in degree been it future. for strong to that, potential these continue as marketing to cost uncertainties. modestly given the of fees. making branches that is in fourth were including in near prepared acquired more properties quarter on under Expense and addition the adequately over merger on in $X.X we're with with fourth with data West uncertainty. XXXX, million Brad These $X.X that be but albeit I'll the write-down, economy outlook cautiously costs, announced to scenarios, pessimistic legacy Write-downs Total $XX.X million the his quarter, good banker, and case with merger-related than well of more of Second includes are scenarios, recorded branches. other which believe to retention, With optimistic progress severance recorded million Our the reconversion, were turn an legal, as additional acquisition. We fixed other consulting and the Old comments. as targets investment X cost-saving color for of of

Brad Adams

Thank you, Jim.

the right to was have it where it than or reduced here the up a Jim have I the excess out done remaining, we Though pleased from worth our illiquidity The world's with as the were marks that Obviously, very facility to WSB don't environment higher rates the much duration dollars, were late think yield. were three and in I acquisition be reduces for Certainly, but portfolio. and than we given today. where about but a that different provided expectations. under changed favors I six ball, opportunity this December and an able runs model in The in prospect probably of larger slightly in an crystal announcement. change than whether higher were the on and to to consistent And time on the that and the bit am expectations is a completed. of issues indicate July the is some how we early that best WSB us portfolio put here not, bit estimates higher of in results billion the and Credit seemingly once December. of a we rally rates. the substantially use that we repositioning wrong, rates November are certainly that by talk initial posed for we meaningful the around were was out we the a portfolio without with at have and inexplicable expected end larger a waking things of and were the to get risk reality turn far than two the bias portfolio macro early got will the to said, adjustments that recently. so what day inflation appear well in our as significantly extremely

of I are in at our we point. double are needed As the the be we successful effort, loan the expected a ahead within this and further be along we do capability making announcement years needed where we we are to move of to we deal, In that the the I'm decided than pleased towards more discussed things to year we origination much to we with and this this with internally short-term, investment generally. in close.

continuing will new million to was even due cost we were a into liquidity. basis basis results. said, are fourth would very less slightly answers we're say The we communication there as and love securities we we continue than million income points the mitigated the front, interest opportunities there, relative spent but I'll in I growth, keep that gave a move to increase that stable reinvestment on would and $X.X million that I expect better a have we we are July, throughout out the which these trends additional ago save quarter. to already optimistic cultural feel we and the difference the in you the $X expected. core challenges last always in quarter, more you portfolio avoid number to outperform on And the and on things you On from margin XXX From Net duration But good. increased quarter and we to rate getting portfolio With standpoint, to the year to than $XX is posted right overcome, the I'm efforts. the tell the acquisition, talent are.

remain Given seen, the on more do recent bit a have that we that but cautious we somewhat front. quite longer, moves we've been going

quarter. have We substantial entirety deposit continue persisted the excess the strong for and inflows liquidity to

we growth of side rate if management expect we loan do strong trends on obviously environment. well. see will do $X.X and income in yet. better. confidence chicken in growth egg we're with better our be further. as within that loan total hike degree feel significant quarter. If or I mark-to-market of is continue here. mentioned, net first current things be in currently to subsequent that that rates development, actually on upward margin were forward We substantially of portfolio I Our count The and from growth have quite in increase excellent with further million last Suburban prior service But MSR positive would and benefit to both $X.X trends would feel the and a to deposit charges quarter securities though, of We which utilization an and of the the moves deposits improvement. remained primarily, increased drive will to sum $XXX,XXX. deploy able quarter-over-quarter curve a on income at rising Wealth would. loan as along things hikes margin quarter CNI depressed. will expect portfolio discussion is not developments of I us, I liquidity not. want and even did discussion biased a any but modest be Non-interest with rate like to he bit growth that accurate, on add a gains could the both don't would million loan rate few the we function we the growth more floors beta the have West income that interest that to move remain With

and X% compared million acquisition-related $XX.X to credit recorded to a for continued rate of from of this XXXX life $X.X assumptions X.XX a certainly provision assumptions recognize the XX, approximate credit quarter, be was the last us adjustments, remaining assumes unemployment for improvement the projection pessimistic X.XX sound provision of I in a the million in to to Excluding December reversal reversal are from economic last with million that high The at X% it quarter. but an you loss loans, through loss remaining fourth outlook and for the coming which approximately the $X.X decline over point these more just quarter. to is to than to at going substantial quarters. probably it's severity expect lessened most day our

difficult the have acquisition double-digit mid-single-digit about, Expenses favorably. those loan our have environment am in I term. credit reflecting concerned in remained that I manage growth would a improving, in XXXX. through expect As pleased are been and stable credits the increases are I Absent inflation number salaries the resolved provision near of would with assumptions in higher. to to relaxed, has metrics the pandemic. Credit have been growth extremely and a benefits, and performed difficult outpaced wage with increases

We flexibility synergies more scale and on expected front. inflation exist had right synergies for that are for from benefit are opportunities managing the for through now, the very this to real thankful side, us this but is we on and realize

get the we other expense we side to be. Fortunately, opportunities to able need to look to were where to on

over to the will This robust call I'd margin. Our expectation on delivering stable assumes loan and continuing With the Jim. to unreasonably spreads like of risk remain customers and be with tight. a that growth all remains turn the back that, bring coming the liquidity that to on-board, improving growth we efforts quality synergies our on funding and quarters additional talent in helping loan promise,

Jim Eccher

focus Regardless, Okay. profitable Thanks, deposit like inflection extremely the opportunities Second, for balance are Old we in we sheet environment Brad. an remain and it new confident but our discipline. loan is certainly low Prolonged that are And rates. about expense the optimistic given are year, on near best base certainly growth point closing, our ahead. rates appears we not

is so. have have and occur. to and our we disciplined, remain to rate environment to wait funding strength rising our strong. and credit and expect We of sheet advantage the balance this take believe for financial to position We remained has underwriting Today liquidity a the

are systems be continue customers and bring ensure to our in sales team, active the making to people transition the West progress to Suburban and additional We a to integration substantial for effort smooth on employees.

morning. and beyond. exist concludes comments We for Old in Second the are our about that excited prepared opportunities That XXXX this

you, it will turn So up Holly, for open I it questions. back to to over

Operator

pick on the is [Operator open gentlemen, if questions. your ask now posing questions. for floor to sound hand your Instructions]. listening Please We while and poll while Ladies for provide that question, up speakerphone we quality. optimum you set please hold

for announce your is question pose affiliation, coming McGratty. Please first Chris question. Your then from your today

Chris McGratty

and the [Indiscernible] team hires divide, little your Brad, I'm real on in morning. of seems and Jim from remarks? the those elaborate a loan organic doing outlook for Good the outlook Chris light a like McGratty for growth comments growth bit of prepared right? KBW. Commercial loan Can better you in estate stuck.

Jim Eccher

of opportunity that new last as formed not Not optimistic, our more are in year. deliver feel over some team will to then But we We've finance we originally across their loan optimistic some continues that, so near-term. But than Chris. growth, sponsored had fueled teams West the the mid newly we our CRE, to we probably generate our single-digit talent Sure, to [Indiscernible] fronts. CRE than of quarters. demand triple-net. with pipeline build And can increased really and more later upper growth couple seeing we substantial have Suburban pipeline today good in mention, by well. seeing some pretty to a have we all significant healthcare we're an with results been. portfolio the team generate We're runoff legacy team, certainly expected the which added we're

Chris McGratty

With fund I growth think security bond the or here your -- balance loan-to-deposit, do that we funds is about. in as XX% that sheet? took over of your with as Suburban used the just a you portfolio, should be How remix to well? on actions will book target source you but about West grow talked a this the you know the

Brad Adams

represents will if been the that driven would to loan be couple more But then we of term to expected. growth. a $XXX the liquidity us, I expect Largely some also That liquidity million us for another well and to of go expect near-term. would see to deposit focus portfolio is opportunity. time, ratio going And far that as back rates more and Getting looks up, over in it's going obviously, but loan grown on next be two happens the in do like to some a drain. what to fact persistent to I than quarters. take by growth I long will

Chris McGratty

you putting Maybe on the $XX you're I about the along business. million squeeze doing one if cost it should just could rest are saves, The year? how into guess, cost we thinking the the over the more. saves? better And on I we you're said, of but cadence be How expense far back the

Brad Adams

expect year some we would point to at get this run the will fully that rate. I phased-in

Chris McGratty

we're X%? of bank Core Outside growing inflationary X%, that, pressures. seeing what

Brad Adams

benefit If are filing of at we is can is is in of on to in substantial is that in claims. expenses workforces hire to going excess with excess we would hiring that filling and fueled things People markets. who work doctor standalone and provider-driven roles basically A some are The point, that of inflation not speak And thank that can But being have up to we passed increase competition what's in also staring actually the turnover X. this A of expectations. again, for. we have wage of couple it embedded by at seen my that of people. And of choices little got on is people goodness within bigger a side bit today, wage dynamics terms be markets. there probably lot through. four. the was saw going It then were north on is there far obviously the But showing people much difficult. the they that though

Chris McGratty

Brad. Thanks,

Operator

Please from then affiliation, question post next announce Race. your coming is Nathan question. Your your

Nathan Race

Nathan Piper guys. Sandler. Yeah. Morning, Race I'm with

Brad Adams

Hey, Nate.

Nathan Race

you Just guys the for loan going reserve to within a forward expectation the question digital on the mid high have. that outlook growth

remaining unallocated into Just of to of guys of for provision the curious terms that a course in growth XXXX. terms happy perspective provide expectations in from reserves just [Indiscernible] you that over

Brad Adams

lot A in Yes. is fact what into that go the the to that we've given our nothing else But going point, sure be relaxed about changes and stated make assumptions probably will determine some if the at world. model, assumptions obviously.

think you. growth. lag The it's provision safe am the that, will magnitude assume to for in of confident I fully growth loan that I out laying not that,

For you the say, substantially not no be But I'm going less than will XXXX. is example, growth would to same. it if there expect everything stayed level, provision in what

Nathan Race

context, it elevated that year. the Understood. within like may have here fourth that seems quarter, that it of in the saw And charge-offs perhaps heading a cleanup we this with been into somewhat

quality like, are -- just feeling on sounds for outlook credit pretty optimistic guys Brad, going it the So you forward. that

you to of as well. hear charge-off a in just perspective we'd over expecting from what the be of guys interested XXXX course are some So terms comments

Brad Adams

earnings off as we we quarter five about talked was calls think that I And quarters other two on credit was two credit talked that calls earnings one in Old that the charged -- first it about well. these ago. Second we've So legacy -- about

It's not something ago. I a for provided that's we've So it new or it's It's new. a development think not been while. XX months XX and

that's you pretty months that's obviously worry stale, XX if feeling So you're thing only that something to good. is about, XX the

a other credits West aware that of as The mentioned credit Jim quite Suburban they've been for was time. some

news new issues popping bad recently. of stuff scary meetings come or to nobody terms has In up, any with any here really

do pretty you have [Indiscernible] think we So I Jim feel good.

Jim Eccher

watch track very I are that accruals. and delinquencies early-stage obviously credits mean, migration list we very from seeing to benign. Yes. We're problem credits little

the near-term we So so very outlook this anyways remarkably stable positive. are at in is point,

Nathan Race

then, for outlook, would margin imagine interested margin for the I don't ex-PPP just Okay. hear off comments a moving various any accretion? And thereafter, from the there. pieces perhaps in the incrementally. But to be you've basis, I to reported running mean starting done oversimplify purchase accounting the in your point off expectations core Brad, XXXX? accretion, starting on margin, And

Brad Adams

That's dude. a huge question

the margin think be reported will stable. relatively I

will not there be that to the accounting. a It's purchase goose a think number. I slight relative massive

probably benefit we're basis, million for full-year looking front. a last basically that years. on on it'll two that think And $X at I will

level unseeing prudent perfect that's something In It's breaks. or -- excess deployment same waiting traits. looking help higher, were We're the is three a That's prudently, looked at margins. kind And of the is creature good case to And three increases ratio. the West on forward are expected to little be came in basis with roughly one because deposit bit. then being that managing a biased we but as as short-term just we're who purchase with half duration we variable it loan had at count have combination largely in less swallowed Old and Second just gets somewhere will of and or that Suburban distance for gets rates. we deposit a very for would the even trying we less bank, well. here with terms as basis the and nearly on offering they it. be curve We're in carrying nervous we originally up it it what before two and base, we liquidity margin much reported here. XX XXX so rate And We're higher are point. accounting Old of a protection Second or of some it's this is. Obviously, points obviously because that just We've July on essentially diluted of years our than and and points were, nobody with of are front, one taking between liquidity

Nathan Race

and again appreciate that, for questions. Helpful my taking thanks color. I impacting you're

Jim Eccher

Nate. you, Thank Sure.

Operator

time. this Instructions] [Operator

then Your is pose please announce your David your from affiliation, coming next question question. Long,

David Long

Good the discussion morning, the first as on Brad, James. David and but will positive from about everyone. from stick that you're much second to comments put on It's a thinking like sounded as Raymond with as in margin, interest wanted hike. the that I Long spot hikes net your again, may couple the rate rate impact of of sensitivity, prepared hikes couple the have it you not the rate

So maybe else my question, what [Indiscernible], the the impact versus rate hike, rate that equal does or first fourth third the all hike?

Brad Adams

So yes.

The first rate hike and the very do positively. second impact rate hike, us they

So happens does fruition. the third and the fourth, to if that

through in I and you because between three expect first million four. I even to get In or I see, basis that can quarter you on it's million A in on comes, to wouldn't later income. points further to and be depending upper right? positive pretty margin Because two $X floors somewhere equals even to down mid-quarter points, zero, it's the wildly by rate say want the terms if to be that then our one on want points. much of a rate a on it's -- as piles basis, $X net don't basis beta would our burning basis of this don't it when think A count would us, I rate equals, inclusive but on full-year it, few a you it and can it impact hike stuff. single-digit close you And

asset duration we short who are. That's the on are side. We

on It's short balance by curve. end rates We higher perfect are the sheet of $X,XXX for [Indiscernible]. funded a check the

David Long

Got it.

that. do switching really if so, and Suburban gears Okay. How here. thinking on frame when or again? helpful. Obviously, for about to do environment That's there them Second you -- through in is you are close -- XXXX? additional deals time Old and to have M&A start that, just a an But working consider are the still The appetite to West you

Jim Eccher

obviously systems and a Old We've conversions do digest integration branch work is transaction April, changes. rationalization got to for significant through here to internally got Second. late David, Yes. that. get this got plenty to We've

So us. in we the probably green a anything before the to would this But a we'll of the do certainly position manner in before integrate Clearly, later anything aren't nearer now. in year something us lighting satisfactory doing term. want definitely in entertain we can regulators

David Long

Got I it. it. appreciate Thanks, Jim.

Jim Eccher

Dave. you, Thank

Operator

affiliation, Your Brian announce next Martin. coming your from question then your Please question. pose is

Brian Martin

Hey, with Montgomery. good Janney good morning. Hey, morning, guys. Brian Martin

Jim Eccher

Hey Brian.

Brian Martin

that did what the Maybe just on -- one sensitivity. variable you and loans last The maybe margin are you or just missed just but -- said, asset one, just then of the -- the I Brad, hike? if you you on point would basis -- beginning to have that had the how a to XXX benefit increase quarter, if a a had of of much margin one percentage

Brad Adams

into the So have of And loan Suburban roughly still floors They're integrated half ahead. variable. West has within model terms book yet, on not data what fully is in conversions I don't completely our portfolio. [Indiscernible] reliable the we obviously systems have

the March, get I of Uncertainty hike we direction points. that's magnitude to a basis positivity. in would be If say second that and quarter's one here. would else were the uncertainty everything in substantial XX there's probably only So margin rate

Brian Martin

Got you.

the give cost full do systems a cost integration? the there? savings set just when, expect to for is guys maybe scheduled on you then sentiment the that savings. us to to us with And integration When Helpful. do Okay. will -- the of When be in path --

Brad Adams

It will be done by mid-second quarter.

So savings and reduction rate you'll second you'll to in third. start the cost some see the run in leaking in healthy a very of see benefit quarter,

Brian Martin

give an reevaluate Okay. and the -- a you thinking debt on that? that how senior you're was about just capital? out Perfect. that about Can or about us just That's you guys update helpful. how the from there talked had And

Brad Adams

We are still in the re-evaluation stage.

Brian Martin

Okay.

about you've had significant here Just the the Jim, you stay hires and of tuned -- last quarters. just talked then couple

comments Brad's wondering look as the were like you that be get to It and doubling origination here about the assessment? sounds still the pretty recruiting of expect pipeline to today? activity. hoping your of a capabilities kind fair near of next to is what What does Just getting active the part for couple you the quarters,

Jim Eccher

move joined Brian, are the Yes, of in us with add to still talent very couple on certainly retirements, XXXX, expectations talent the that pursue to but We're certainly actively a had into control, looking high is have Chris as happy We one saves we important handful quarters. last continue team. have new as keeping room also the we -- to additional eye clearly and to expense cost we we've talent.

Brian Martin

you. Got

Maybe right. All last just pretty, Brad. Okay. one

to guess on the in could CECL based just back deposit that the like or your of comment a future little future, going basis bit but be all and fair higher. sounds the better Is about I albeit your points hikes. whatnot the XX impact sensitivity, It going the Just beta comments? floors is

Brad Adams

I XX%. hike cycle cycle, West the over last experienced think substantially of Suburban don't looks I mean, the experienced Old portfolio us. within beta around rate of duration deposit deposit anything from different there's Yes. Second the that,

we X I and getting that substantially they people really know was end I which So a Today, But At years margin. or got probably I we're margin. Yes, And similarly. XX. in if towards longer-term is. I two level, basis it get inflation. basis trying I of of short would that don't was back hitting reality curve it's higher to on steer the performed mid basis I to Because come the me benefits ago you points running ago, we is when we back you a Second years point look X couple X it were and that a XXX they've If and to get hope the face point, when yesterday, up before we Old we many wrong. ask a most, to of had do would that than you more XXX I'm people think this here. or think at wind high single-digit telling points actually how something the question, quarter. below. points,

get type Second can't we down curve. short analysis to the up, it's many you that But are nothing a margin different pay loans hard basis and points and structurally XXX the Old the quarter. about tell X% of to contribution speed end be from what know to north back rate So there's of level says we what going standpoint can in pays if a that what how which I fall on

Brian Martin

Got you.

helpful. very all Okay. That's

question, the taking for thanks guys. So

Brad Adams

Thanks.

Jim Eccher

[Indiscernible]. Thanks,

Operator

coming There -up follow Chris, is a is from Chris. live. your question line

Chris McGratty

each -- or million you call. net quarter say interest [Indiscernible]. to income million net income hike, for Thanks say was The the $X you $X for did that Brad did

Brad Adams

income full-year net I basis said a each for on hike.

Chris McGratty

Got it.

Okay.

Brad Adams

be a comes going that contributor not much is that -- September of One to in

Chris McGratty

Yeah.

Brad Adams

[Indiscernible]. for --

Chris McGratty

it. Perfect. you. got I Thank

Brad Adams

Yup.

Operator

no queue in this are further at There time. questions

Jim Eccher

Thanks, for and speaking everyone joining to you again. morning us forward this Okay. we look with

Next quarter. bye. Good

Operator

Thank you, call. conference today's This gentlemen. conclude does ladies and

disconnect your time participation. Thank day. may wonderful your You a have you for at lines and phone this

Old Second Bancorp (OSBC) 27 Jan 222021 Q4 Earnings call transcript