Old Second Bancorp, Inc. Announces Resignation of James Tapscott as A Member of the Board of Directors
September 11, 2023 at 12:00 pm EDT
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Old Second Bancorp, Inc. Effective September 9, 2023, James Tapscott, a member of the Board of Directors, resigned from the Board. Mr. Tapscott submitted his resignation in accordance with the Company?s Director Resignation Policy, which requires that any person serving as a director submit his or her resignation as a director upon attaining the age of 73 during his or her tenure. As such, Mr. Tapscott?s resignation is not the result of any disagreement with the Company.
Mr. Tapscott served as Chair of the Audit Committee due to his previous experience in accounting and financial matters, and also served on the Executive Committee, Loan Committee, Nominating and Corporate Governance Committee and the Risk and Insurance Committee. He has been a valuable board member since 2015, and appreciate his contributions to the Company during his tenure. The Company does not anticipate immediately filling the vacancy on the Board caused by Mr. Tapscott?s resignation and will reduce the size of the Board by one member.
Following recommendation from the Nominating and Corporate Governance Committee, the Board?s intent is to maintain the Board classes to be as nearly equal in number as possible. Therefore, the Board realigned its Class I, II and III directors at its regularly scheduled meeting in February 2023, anticipating potential director retirements during 2023.
Old Second Bancorp, Inc. serves as the bank holding company for its wholly owned subsidiary bank, Old Second National Bank (the Bank). The Bank is a full-service banking business offering a range of deposit products, trust and wealth management services, lending services, and deposit services, including demand, NOW, money market, savings, time deposit and individual retirement accounts. It also offers commercial, industrial, consumer and real estate lending, including installment loans, agricultural loans, lines of credit, lease financing receivables and overdraft checking, and safe deposit operations. It provides variety of additional services to the needs of individual customers, such as the money orders, cashiersâ checks and foreign currency, direct deposit, discount brokerage, debit cards, credit cards, and other special services. It also provides complement of electronic banking services such as online and mobile banking and corporate cash management products.
OLD SECOND BANCORP, INC. 
