Latest news with #OSBC
Time of India
6 days ago
- Business
- Time of India
Bar council starts online enrolment system for law graduates
Cuttack: In a major step towards digitisation, the Odisha State Bar Council (OSBC) has launched a new online enrolment system for law graduates, doing away with the need for physical presence at its office in Cuttack. The digital platform went live on Aug 1, marking a new era of streamlined services for aspiring advocates in the state. OSBC secretary J K Samantasinghar said the council has adopted complete digitisation to simplify enrolment procedures for fresh law graduates. "Applicants can now visit the official website — — to submit their e-enrolment forms online. There is no need to physically visit the office," he said. The newly-launched website offers a range of features, including online enrolment, advocate certificate verification, important circulars, notifications, and a searchable digital directory of advocates. The portal has been designed to enhance transparency, accessibility, and efficiency for both legal professionals and the public. Currently, OSBC has nearly 60,000 enrolled advocates and is the apex statutory body overseeing 156 bar associations across the state. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo The council comprises 25 elected members, including chairman and advocate general, who serves as an ex-officio member. Post-enrolment, law graduates are provisionally allowed to practice, following which they must clear the All India Bar Examination (AIBE) to obtain a certificate of practice. Apart from regulating enrolment and professional conduct, OSBC also manages the Odisha Advocates Welfare Fund, which provides benefits like pensions, family pensions, and death compensation to advocates and their families. These welfare schemes are funded through mandatory contributions from registered members. "The new platform reflects our ongoing commitment to modernising legal services and strengthening engagement with stakeholders," Samantasinghar added. With the digitisation move, the council hopes to provide a more seamless experience to new entrants and existing members of the legal fraternity in Odisha.
Yahoo
28-07-2025
- Business
- Yahoo
Old Second Bancorp Inc (OSBC) Q2 2025 Earnings Call Highlights: Strong Net Income Amidst ...
Net Income: $21.8 million or $0.48 per diluted share. Return on Assets: 1.53%. Return on Average Tangible Common Equity: 15.29%. Tax Equivalent Efficiency Ratio: 54.54%. Tangible Equity Ratio: Increased by 49 basis points to 10.83% from last quarter. Common Equity Tier 1: 13.77%, up from 13.47% last quarter. Net Interest Margin: Decreased 3 basis points to 4.85% from last quarter. Total Cost of Deposits: 84 basis points for the second quarter. Loan-to-Deposit Ratio: 83.3% as of June 30. Total Loans Increase: $58.4 million from last quarter. Allowance for Credit Losses on Loans: Increased to $43 million or 1.08% of total loans. Noninterest Income: Wealth management fees increased by $324,000 or 11.7%; service charges on deposits increased by $280,000 or 11.2%. Noninterest Expense: $1.1 million less than the prior linked quarter. Average Deposits Increase: $51 million or 1.1% quarter-over-quarter. Share Repurchase: Approximately 327,000 shares repurchased in a privately negotiated transaction. Warning! GuruFocus has detected 5 Warning Sign with OSBC. Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Old Second Bancorp Inc (NASDAQ:OSBC) reported a strong net income of $21.8 million or $0.48 per diluted share for the second quarter. The company's return on average tangible common equity was 15.29%, indicating strong profitability. The tangible equity ratio increased by 49 basis points from the previous quarter, showing improved capital strength. Net interest income increased by $1.3 million or 2.1% compared to the prior quarter, reflecting strong margin performance. The acquisition of Evergreen Bank is expected to enhance profitability, with the bank performing ahead of initial expectations. Negative Points The second quarter earnings were impacted by a $531,000 MSR mark-to-market loss and an $810,000 charge in merger-related expenses. Net interest margin decreased by 3 basis points compared to the previous quarter. The loan-to-deposit ratio increased to 83.3%, indicating a higher reliance on deposits for loan funding. Noninterest expense increased by $5.5 million year-over-year, driven by higher salaries, employee benefits, and occupancy costs. The integration of Evergreen Bank is expected to result in a 'messy' next quarter with acquisition-related expenses. Q & A Highlights Q: What is the expected timing for the Evergreen Bank conversion, and what is the anticipated expense run rate? A: Bradley Adams, CFO and COO, stated that the conversion is expected to occur in the early to mid-fourth quarter. By the time they report the fourth quarter, the operating expenses should be closer to the final run rate, with the first quarter of the next year being relatively clean. Q: Can you provide more details about the owner-occupied CRE that was classified? A: James Eccher, CEO, explained that it stems from a large healthcare transaction in Oregon. They do not foresee a loss as they are in a strong collateral position with a 70% covered loan-to-value. The facility had restrictions from the state of Oregon, but these have been lifted, and cash flow is expected to improve. Q: How are commercial clients feeling about growth and loan closures given the current economic climate? A: James Eccher noted that commercial clients are handling tariff uncertainty well, though CapEx appetite has been muted. There is growth in leasing and commercial real estate, with a strong second-half pipeline expected, especially with the Evergreen Bank's powersports area. Q: What is the outlook for charge-offs, especially with the Evergreen acquisition? A: James Eccher mentioned that while powersports lending can have higher loss rates (1% to 1.5%), the portfolio's average coupon is around 9%, which balances the risk. Bradley Adams added that a 30 basis point charge-off rate going forward is reasonable. Q: How will the margin respond to a potential 25 basis point Fed rate cut? A: Bradley Adams expressed skepticism about a rate cut this year, noting that the margin is less sensitive to rate changes due to balance sheet movements. He estimated a 4 basis point impact per 25 basis point cut, but emphasized that internal adjustments are more influential. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Time of India
14-06-2025
- Time of India
OSBC seeks judicial probe into arrest of senior advocate
Cuttack: Odisha State Bar Council (OSBC) has demanded a judicial inquiry to ascertain the facts behind the arrest of a senior advocate by Balasore police for allegedly misbehaving with a woman IAS probationer. Purusottam Das, a 70-year-old advocate, was arrested on Tuesday after IAS probationer Shamal Kalyanrao Bhagat filed a complaint at Sahadevkhunta police station on June 7. OSBC demanded the judicial inquiry in a memorandum to chief minister Mohan Charan Majhi on Friday. It also demanded immediate action against the inspector in-charge of Sahadevkhunta police station and Bhagat. In the memorandum, OSBC chairman Sitanshu Mohan Dwibedy said, "The OSBC has also unanimously resolved that if no action will be taken within 10 days from the date of receipt of this communication, the council will decide further course of action..." Dwibedy claimed that though Balasore Bar Association had requested the SP to intervene and direct the IIC to register information given by Das, no steps have been taken till date. OSBC is the apex statutory body for more than 180 affiliated bar associations in the state. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Yahoo
17-05-2025
- Business
- Yahoo
Are Investors Undervaluing Old Second Bancorp (OSBC) Right Now?
The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large. On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today. One stock to keep an eye on is Old Second Bancorp (OSBC). OSBC is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock has a Forward P/E ratio of 8.60. This compares to its industry's average Forward P/E of 10.84. Over the last 12 months, OSBC's Forward P/E has been as high as 10.39 and as low as 7.18, with a median of 8.81. Another notable valuation metric for OSBC is its P/B ratio of 1.14. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks solid versus its industry's average P/B of 1.89. Over the past 12 months, OSBC's P/B has been as high as 1.30 and as low as 0.97, with a median of 1.15. Finally, our model also underscores that OSBC has a P/CF ratio of 8.19. This figure highlights a company's operating cash flow and can be used to find firms that are undervalued when considering their impressive cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 15.01. OSBC's P/CF has been as high as 9.42 and as low as 6.47, with a median of 8.02, all within the past year. These are just a handful of the figures considered in Old Second Bancorp's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that OSBC is an impressive value stock right now. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Old Second Bancorp, Inc. (OSBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Time of India
09-05-2025
- Business
- Time of India
Min launches digital initiatives to enhance efficiency, transparency of excise dept
Bhubaneswar: In a significant move towards digital transformation, excise minister Prithiviraj Harichandan on Friday inaugurated multiple technological initiatives at the (OSBC) Limited initiative include a central CCTV monitoring system, auto indenting approval system, and integration with govt treasury. Tired of too many ads? go ad free now These implementations will enable direct monitoring of the corporation's four warehouses from the the inauguration ceremony, excise officials discussed upcoming awareness programmes targeting youth substance abuse, in preparation for revised excise policy scheduled for implementation this year. The event also saw the signing of an annual agreement between OSBC and establishing revenue collection targets and programme implementation guidelines for the current fiscal corporation also presented Rs 12 crore to the Chief Minister's Relief Fund along with an interim dividend of Rs 25 crore and an annual dividend of Rs 14 crore. "These are expected to enhance and in the corporation's activities while strengthening its regulatory framework," read a govt statement.
