Old Second Bancorp, Inc. Announces Resignation of William Kane as Member of Board of Director
October 27, 2023 at 01:00 pm EDT
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Effective October 30, 2023, William Kane, a member of the Board of Directors (the ?Board?) of Old Second Bancorp, Inc. (the ?Company?), resigned from the Board. Mr. Kane 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. Kane?s resignation is not the result of any disagreement with the Company.
The Company does not anticipate immediately filling the vacancy on the Board caused by Mr. Kane?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. 
