Old Second Bancorp, Inc..
OSBC.US | Activities of holding companies
Old Second Bancorp, Inc. is a financial holding company headquartered in Aurora, Illinois. It operates primarily through its subsidiary, Old Second National Bank, providing a range of banking products and services to individuals, businesses, and institutions. These services include deposit accounts ...Show More
Better Health for All
0
Based on the provided articles, there is insufficient evidence to assess Old Second Bancorp's (OSBC.US) alignment with the 'Better Health for All' value. The articles primarily focus on the company's CRA rating
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, employee benefits
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, commercial banking services
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, and general banking products
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. While the employee benefits package includes health insurance, dental, and vision care
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, this is standard for the industry and does not demonstrate a significant commitment to improving health outcomes beyond its own employees. The CRA rating reflects community reinvestment, but not specifically health-related initiatives
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. Therefore, without more specific information, a score of 0 is most appropriate. The materiality analysis also indicates a fundamentally neutral business model regarding 'Better Health for All'.
Fair Money & Economic Opportunity
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Old Second National Bank (OSNB) has received an 'Outstanding' Community Reinvestment Act (CRA) rating from the OCC for evaluation periods ending December 2020 and December 2023, with no identified discriminatory or illegal credit practices.
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,
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The bank's Community Development (CD) investments totaled $70.9 million, representing 12.1% of allocated Tier 1 capital as of December 31, 2023.
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OSNB originated 1,000 innovative and/or flexible products totaling $231 million during the 2021-2023 evaluation period, and its Empowerment Small Business Loan Program has generated $30 million in loans to 72 clients since 2023.
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,
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The bank's average business loan interest rates start at 6.49%, which is at the lower end of the Federal Reserve's reported industry range of 6.25% to 8.50% for small business loans.
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However, its Powersport Portfolio includes APRs up to 16.86%.
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The bank charges a $36 fee for NSF/overdraft items and a $5 continuous overdraft fee, with a maximum of 5 fees per business day.
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OSNB's debt service coverage ratio (DSCR) minimums are 1.20 for conventional loans and 1.15 for SBA loans.
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The bank has 7% of its 28 branches in low-income tracts and 15% in moderate-income tracts as of 2020, and 10.64% of its 48 branches in moderate-income tracts as of 2023.
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,
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In 2020, 38.4% of low-income customers used mobile banking.
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The bank offers basic financial information and occasional workshops, with two employees providing financial education presentations for an affordable housing organization.
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There is no explicit data on customer data portability or control, but it offers a user-friendly online portal for applications.
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The bank's products require middle school level reading (grade 8-9).
Fair Pay & Worker Respect
0
No evidence available to assess Old Second Bancorp, Inc. on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
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No evidence available to assess Old Second Bancorp, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
0
No specific, concrete data points were found in the provided articles to assess Old Second Bancorp, Inc. against the quantitative thresholds for any of the 'Honest & Fair Business' KPIs. Information regarding regulatory fines, transparency index scores, whistleblower policies, financial restatements, audit coverage percentages, ESG controversy scores, complaint resolution times, board conflict-free percentages, anti-corruption policies, or third-party verification of ethical claims was not explicitly stated or quantifiable in the provided evidence.
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Kind to Animals
0
No evidence available to assess Old Second Bancorp, Inc. on Kind to Animals.
No War, No Weapons
0
No evidence available to assess Old Second Bancorp, Inc. on No War, No Weapons.
Planet-Friendly Business
-20
The company recorded zero environmental compliance violations.
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Respect for Cultures & Communities
0
No evidence available to assess Old Second Bancorp, Inc. on Respect for Cultures & Communities.
Safe & Smart Tech
-50
Old Second Bancorp invested $1.5 million in cybersecurity in 2023, which represents approximately 0.52% of its total revenue for that year.
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The company holds an ISO 27001 certification for information security management.
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Employees receive 22 hours/year of regulatory training.
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The company conducts quarterly ongoing regulatory audits for vulnerability management.
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The CCPA Privacy Policy states that data retention is limited to the necessary period for business purposes, considering factors like data sensitivity and legal requirements.
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Users have rights to request information, deletion, and correction of personal data under the CCPA, with a response period of 45 days, extendable to 90 days, and a limit of two requests per 12 months.
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The company reports 0 regulatory violation incidents and a 99.7% regulatory reporting compliance rate, with $1.3 million spent annually on compliance with regulations such as Dodd-Frank and Illinois State Banking Regulations.
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Zero Waste & Sustainable Products
-60
Old Second Bancorp encourages eco-friendly habits within its office locations to reduce waste and promote recycling.
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The company also seeks to develop and deliver banking products and services digitally to reduce the need for paper and plastics.
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It aims to reduce direct and indirect carbon emissions, land use, construction-related disruptions, and energy use.
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Furthermore, the company is improving energy efficiencies in its offices through research and environmentally conscious products that use less electricity.
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