Old Second Bancorp, Inc. (NASDAQ:OSBC) Q3 2023 Earnings Call Transcript

Brian Martin: Okay. And the charge-off that Brad talked about potentially still coming debt from a previous credit that was already identical.

Bradley Adams: Yes, that’s the same stuff we’ve been talking about since April.

Brian Martin: Okay. Just making clear on that. And then the portfolio, you mentioned the participation portfolio where some of these credits have come from. Can you size up where that’s at today?

Bradley Adams: $250 million to $300 million.

Brian Martin: So the $250 million to $300 million. And how much of that is currently classified today?

Bradley Adams: What 4%, 5%.

James Eccher: Yes, I’d say less than that.

Brian Martin: Okay, 4% to 5%. And then just on the – you talked about always wanted to get better, Brad, and I guess are you seeing opportunities, given the weak demand out there currently? I mean it sounds like the ability to hire is what’s going to contribute to improvements in the economy, getting loan engine kind of moving back. I mean, are there opportunities to add talent today? Or is it a struggle to find talent today?

James Eccher: We’ve continued to add some one-off relationship managers even this year, we budget for it every year. And we still – we’ve had some success even this quarter. So we’ll continue to look for those opportunities in the ‘24.

Bradley Adams: The best time to grow is when everybody else gets scared. So that’s kind of what our viewpoint is.

Brian Martin: Yep. Okay. All right. Well, thank you for taking the questions, guys.

James Eccher: All right. Thanks, Brian.

Operator: We have reached the end of our question-and-answer session. So I will now turn the call back over to Mr. Eccher for his closing remarks.

James Eccher: Okay. Thank you for joining us today. We appreciate your interest in the company, and we look forward to speaking with you next quarter. Goodbye.

Operator: Thank you. This concludes today’s conference, and you may disconnect your lines at this time, and we thank you for your participation.