Item 8.01 Other Events

On May 25, 2023, Old Second Bancorp, Inc. (the "Company") notified Wells Fargo National Bank, National Association, as trustee and paying agent (the "Trustee" or the "Paying Agent"), of its intention to redeem (the "Redemption") on June 30, 2023 (the "Redemption Date") all of its outstanding 5.750% Fixed-to-Floating Rate Senior Notes due 2026 (CUSIP No. 680277 AB6), originally issued on December 15, 2016 (the "Senior Notes"), at a cash redemption price (the "Redemption Price") to be calculated as provided in the Senior Notes, equal to 100% of the $45,000,000 aggregate principal amount of the Senior Notes, plus the accrued and unpaid interest thereon through, but excluding, the Redemption Date. Upon completion of the Redemption, no Senior Notes will remain outstanding.

Payment of the Redemption Price will be made on the Redemption Date only upon presentation and surrender of the Senior Notes to the Trustee in its capacity as Paying Agent. Senior Notes held in book-entry form will be redeemed and the Redemption Price with respect to such Senior Notes will be paid in accordance with the applicable procedures of the Depository Trust Company. Interest on the Senior Notes called for redemption will cease to accrue on and after the Redemption Date. Notice of redemption will be sent to the registered holders of the Senior Notes.

Cautionary Statement Regarding Forward Looking Statements

Statements included in this current report which are not historical in nature are intended to be, and are hereby identified as, forward looking statements for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934. Forward looking statements generally include words such as "expects," "will," "intends," "estimates," and other similar expressions. The Company cautions readers that forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from anticipated results. Such risks and uncertainties, include, among others, factors disclosed in the Company's Annual Report on Form 10-K filed March 9, 2023, or in its subsequent filings with the U.S. Securities and Exchange Commission, any of which could cause actual results to differ materially from future results expressed or implied by such forward looking statements.

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