Key Highlights

  • Old Second Bancorp (NASDAQ: OSBC) confirms the resignation of board member John Williams Jr. Effective July 7, 2026.
  • The departure follows the company’s director resignation policy, triggered by Williams reaching age 73 during his tenure.
  • The board will not immediately fill the vacancy, reducing its size by one member.
  • No disagreements with the company prompted the resignation, according to regulatory filings.

Old Second Bancorp (NASDAQ: OSBC) announced a leadership shift as a long-serving director steps down. The change reflects the company’s governance policies and will temporarily reduce the size of its board.

Resignation Details

John Williams Jr. Resigned from Old Second Bancorp’s board on July 7, 2026. His departure aligns with the company’s policy requiring directors to step down upon turning 73 during their term.

Governance Policy Trigger

The resignation was not due to any dispute with Old Second Bancorp. The company’s director resignation policy mandates such exits based on age, ensuring structured board transitions.

Board Adjustments

Old Second Bancorp will not fill the vacant seat immediately. The board will shrink by one member, maintaining balanced class sizes as recommended by its nominating committee.

Prior Contributions

Williams joined the board in 2021 and served on the Risk and Insurance Committee. The company acknowledged his contributions during his tenure.

Forward-Looking Statements

Old Second Bancorp’s filings include forward-looking statements about future expectations. These projections are subject to risks outlined in its 2025 annual report filed on February 26, 2026.

Regulatory Compliance

The resignation was disclosed in a filing under the Securities Exchange Act of 1934. The document was signed by an authorized representative of Old Second Bancorp.

Investor Considerations

The board reduction may influence governance dynamics but does not signal broader operational changes. Investors should monitor future filings for updates on board composition.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.