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Old Second Receives "Outstanding" CRA Rating

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Old Second Receives "Outstanding" CRA Rating

PR Newswire

AURORA, Ill., Aug. 23, 2018 /PRNewswire/ -- Old Second National Bank (NASDAQ:OSBC) received the rating of "Outstanding" in its recent Community Reinvestment Act (CRA) Performance Evaluation.

The evaluation is conducted by the Office of the Comptroller of the Currency. It analyzes an institution's "record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution."

One of the evaluation's "major factors" in awarding Old Second an "Outstanding" rating was that the "bank had an excellent level of qualified CD investments and grants, and exhibited excellent responsiveness to credit and community development needs."

"We are honored to receive a CRA rating of 'Outstanding,'" said Old Second President & CEO Jim Eccher. "It's a testament to the people-oriented staff we have at Old Second. Each customer is important and unique. It's our goal to continue making a positive impact in our communities."

CRA was enacted by the Congress in 1977.

Old Second Bancorp, Inc. is a diversified bank holding company headquartered in Aurora, IL. The Company operates through its subsidiary, Old Second National Bank, with 29 banking offices across seven counties in northern Illinois. Old Second Bancorp, Inc.'s common stock trades on The NASDAQ Stock Exchange under the symbol OSBC. More information about the Company is available by visiting the "Investor Relations" section of its website www.oldsecond.com.

 

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SOURCE Old Second Bancorp, Inc.

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