Short answer
OLD SECOND BANCORP INC (OSBC) filed an 8-K current report with the SEC on March 4, 2026 reporting Item 8.01 (Other Events). Redeeming $30M of 3.50% Fixed-to-Floating Rate Subordinated Notes on April 15, 2026 at par (100% of principal).
OLD SECOND BANCORP INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 8.01 · Other Events
- Redeeming $30M of 3.50% Fixed-to-Floating Rate Subordinated Notes on April 15, 2026 at par (100% of principal)
- $30M in Notes remain outstanding post-redemption: total original issuance was $60M
- Redemption eliminates 3.50% fixed-rate debt cost before rate resets to floating, likely reducing interest expense
- Fed Reserve Bank of Chicago non-objection received: regulatory hurdle cleared for capital action
- Interest ceases accruing April 15, 2026: no prepayment premium, clean par redemption
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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