Item 7.01. Regulation FD Disclosure.
On January 28, 2020, Old Second Bancorp, Inc. issued a redemption notice with
respect to its 7.80% subordinated debentures due June 30, 2033 (the
"Subordinated Debentures") relating to the outstanding 7.80% cumulative trust
preferred securities (NASDAQ: OSBCP) (the "Trust Securities") issued by Old
Second Capital Trust I (the "Trust"), which are guaranteed on a subordinated
basis by Old Second Bancorp, Inc. An aggregate principal amount of Subordinated
Debentures of $32,604,000 is expected to be redeemed on March 2, 2020, plus
accrued and unpaid interest to the redemption date. Following receipt of such
notice of redemption relating to the Subordinated Debentures, the property
trustee under the Trust will issue a notice of redemption with respect to all of
the outstanding Trust Securities, which are expected to be redeemed on March 2,
2020, at a redemption price of $10.00 per Trust Security, which reflects 100% of
the liquidation amount, to the extent of applicable proceeds from the
contemporaneous redemption of the Subordinated Debentures, including accrued and
unpaid distributions to the redemption date. In connection with the redemption,
we expect that the Trust Securities will be delisted from The Nasdaq Stock
Market.
Forward-Looking Statements: This Current Report on Form 8-K contains
forward-looking statements. Forward looking statements can be identified by
words such as "intends," "anticipated," "expected," "believes," "may,"
"likely," "will" or other words or phrases that indicate future periods.
Examples of such forward-looking statements include, among others, the expected
timing of the redemption of the Subordinated Debentures and Trust Securities.
Such forward-looking statements are subject to risks, uncertainties, and other
factors, including a change in our capital position, the timing of actions by or
on behalf of the property trustee of the Trust Securities, a downturn in the
economy, particularly in our markets, volatile credit and financial markets both
domestic and foreign, potential deterioration in real estate values, regulatory
changes and excessive loan losses, as well as additional risks and uncertainties
contained in the "Risk Factors" and forward-looking statements disclosure
contained in our most recent Annual Report on Form 10-K and Quarterly Reports on
Form 10-Q, any or all of which could cause actual results to differ materially
from future results expressed or implied by such forward-looking statements. The
inclusion of this forward-looking information should not be construed as a
representation by us or any person that future events, plans, or expectations
contemplated by us will be achieved. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise, except as required by law.
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