UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 Or 15(d)
Of The Securities Exchange Act Of 1934
August 1, 1997
Date of Report (Date of Earliest Event Reported)
Old Second Bancorp, Inc.
(Exact name of registrant as specified in its charter)
0-10537
Commission File No.
Delaware 36-3143493
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification No.)
37 South River Street, Aurora, Illinois 60507
(Address of principal executive offices)
(630) 892-0202
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
(A) Exhibits
1. Press Release of Old Second Bancorp, Inc. dated July
25, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
OLD SECOND BANCORP, INC.
/s/ R J CARLSON
___________________________
R.J. Carlson,
President, Chief Financial Officer,
Secretary and Director
Date: 08/01/97
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EXHIBIT INDEX
Exhibit Sequentially
Number Description of Exhibit Numbered Page
1 Press Release of Old Second
Bancorp, Inc. dated July 25, 1997 5
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PRESS RELEASE
July 25, 1997
2ND QUARTER 1997
Effective May 14, 1997, 111,706 shares of the Corporation's
common stock were issued to acquire 100% of the outstanding
common stock of Maple Park Bancshares, Inc. The acquisition was
accounted for as a pooling-of-interests; accordingly, all
financial information for prior periods has been restated to
include the accounts and results of operations of Maple Park.
Net income for the second quarter totaled $1,495,000 compared to
$2,063,000 for the comparable quarter in 1996. For the six
months, earnings totaled $3,769,000 compared to $4,438,000 a year
ago. On a per share basis, earnings in the current quarter were
$.49 compared to $.68 a year ago while six months earnings were
$1.24 in the current year and $1.46 a year ago. Net interest
income increased $302,000 and $747,000, respectively, for the
second quarter and six months over 1996.
During the last twelve months, the Corporation added six bank
branch locations and a mortgage banking subsidiary with four
offices. The decline in earnings was due primarily to expense
increases related to expansion, one time charges related to the
acquisition of Maple Park, an increase in the provision for loan
losses and lower revenue at Maple Park Mortgage. Expansionary
costs are expected to affect earnings to a lesser degree in the
near future but provide good long-term returns.
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