Filing Details

Accession Number:
0001171520-23-000073
Form Type:
13G Filing
Publication Date:
2023-02-07 19:00:00
Filed By:
Fj Capital Management Llc
Company:
Old Second Bancorp Inc (NASDAQ:OSBC)
Filing Date:
2023-02-08
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Financial Opportunity Fund 2,212,987 2,212,987 2,212,987 4.96%
FJ Capital Management 2,321,034 2,212,987 2,321,034 5.21%
Martin Friedman 2,321,034 2,212,987 2,321,034 5.21%
Bridge Equities XI 108,047 108,047 108,047 0.24%
SunBridge Manager 108,047 108,047 108,047 0.24%
SunBridge Holdings 108,047 108,047 108,047 0.24%
Realty Investment Company, Inc 108,047 108,047 108,047 0.24%
Filing
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 3) *

 

Old Second Bancorp, Inc.
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)
 
680277100
(CUSIP Number)
 
12/31/2022
(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

  Rule 13d-1(b)
     
  Rule 13d-1(c)
     
  Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

CUSIP No 680277100   Page 2 of 15

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) 

Financial Opportunity Fund LLC

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 2,212,987 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 2,212,987 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,212,987 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

4.96%

 

12

 

TYPE OF REPORTING PERSON

 

OO
         

 

 
(1)Consists of 2,212,987 shares of common stock of the Issuer held by Financial Opportunity Fund, LLC.

 

 

 

CUSIP No 680277100   Page 3 of 15

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) 

FJ Capital Management LLC

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER  2,321,034 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER  2,212,987 (2)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 2,321,034 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

5.21%

 

12

 

TYPE OF REPORTING PERSON

 

IA
         

 

 
(1)Consists of 2,212,987 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member, 108,047 shares common stock of the Issuer held by Bridge Equities XI, LLC, of which FJ Capital Management LLC is the sub-investment advisor; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

 

(2)Consists of 2,212,987 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

 

 

 

 

CUSIP No 680277100   Page 4 of 15

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) 

Martin Friedman

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 2,321,034 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 2,212,987 (2)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

2,321,034 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

5.21%

 

12

 

TYPE OF REPORTING PERSON

 

IN
         

 

 
(1)Consists of 2,212,987 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member, 108,047 shares common stock of the Issuer held by Bridge Equities XI, LLC, of which FJ Capital Management LLC is the sub-investment advisor. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.
(2)Consists of 2,212,987 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.

 

 

 

CUSIP No 680277100   Page 5 of 15

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) 

Bridge Equities XI, LLC

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 108,047 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 108,047 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

108,047 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.24%

 

12

 

TYPE OF REPORTING PERSON

 

OO
         

 

 
(1)Consists of 108,047 shares of common stock of the Issuer held by Bridge Equities XI, LLC.

 

 

 

CUSIP No 680277100   Page 6 of 15

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) 

SunBridge Manager, LLC

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 108,047 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 108,047 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

108,047 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.24%

 

12

 

TYPE OF REPORTING PERSON

 

OO
         

 

 
(1)Consists of 108,047 shares common stock of the Issuer held by Bridge Equities XI, LLC of which SunBridge Manager, LLC is the Managing Member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares.

 

 

 

CUSIP No 680277100   Page 7 of 15

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) 

SunBridge Holdings, LLC

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 108,047 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 108,047 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

108,047 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.24%

 

12

 

TYPE OF REPORTING PERSON

 

OO
         

 

 
(1)Consists of 108,047 shares common stock of the Issuer held by Bridge Equities XI, LLC of which SunBridge Manager, LLC is the Managing Member. SunBridge Holdings, LLC is the Managing Member of SunBridge Manager, LLC; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares, but as to which the Reporting Person disclaims beneficial ownership.

 

 

 

CUSIP No 680277100   Page 8 of 15

 

 

1

 

NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) 

Realty Investment Company, Inc.

 

 

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a)

(b)

 

3

 

SEC USE ONLY

 

 

 

4

 

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Maryland
NUMBER OF
SHARES
5 SOLE VOTING POWER  
BENEFICIALLY
OWNED BY
6 SHARED VOTING POWER 108,047 (1)
EACH
REPORTING
7 SOLE DISPOSITIVE POWER  
PERSON
WITH:
8 SHARED DISPOSITIVE POWER 108,047 (1)

 

9

 

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

108,047 (1)

 

10

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

 

11

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

0.24%

 

12

 

TYPE OF REPORTING PERSON

 

CO
         

 

 
(1)Consists of 108,047 shares common stock of the Issuer held by Bridge Equities XI, LLC of which SunBridge Manager, LLC is the Managing Member. SunBridge Holdings, LLC is the Managing Member of SunBridge Manager, LLC. Realty Investment Company, Inc. is the Manager of SunBridge Holdings, LLC; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

 

 

 

CUSIP No 680277100   Page 9 of 15

 

Item 1(a).   Name of Issuer:
     
    Old Second Bancorp, Inc (OSBC)
     
Item 1(b).   Address of Issuer’s Principal Executive Offices:
     
    37 South River Street
    Aurora, IL  60507
     
Item 2(a).   Name of Person Filing:
     
   

This Schedule 13G is being filed on behalf of the following Reporting Persons:

Financial Opportunity Fund LLC

FJ Capital Management LLC

Martin Friedman

Bridge Equities XI, LLC

SunBridge Manager, LLC

SunBridge Holdings, LLC

Realty Investment Company, Inc.

     
Item 2(b).   Address of Principal Business Office or, if None, Residence:
     
   

Financial Opportunity Fund LLC

7901 Jones Branch Drive, Suite 210

McLean, VA 22102

 

FJ Capital Management, LLC

7901 Jones Branch Drive, Suite 210

McLean, VA 22102

 

Martin Friedman

7901 Jones Branch Drive, Suite 210

McLean, VA 22102

 

Bridge Equities XI, LLC

8171 Maple Lawn Blvd, Suite 375

Fulton, MD 20759

 

SunBridge Manager LLC

8171 Maple Lawn Blvd, Suite 375

Fulton, MD 20759

 

SunBridge Holdings LLC

8171 Maple Lawn Blvd, Suite 375

Fulton, MD 20759

 

 

 
CUSIP No 680277100   Page 10 of 15
     
   

Realty Investment Company Inc

8171 Maple Lawn Blvd, Suite 375

Fulton, MD 20759

 

Item 2(c).   Citizenship:
     
   

Financial Opportunity Fund LLC, FJ Capital Management LLC, Bridge Equities XI, LLC, SunBridge Manager, LLC, and SunBridge Holdings, LLC – Delaware limited liability companies

Martin Friedman – United States citizen

Realty Investment Company, Inc – Maryland corporation

     
Item 2(d).   Title of Class of Securities:
     
    Common Stock
     
Item 2(e).   CUSIP Number:
     
    680277100
     
Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a:
           

 

  (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
       
  (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
       
  (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
       
  (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
       
  (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

 

  (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
       
  (g) A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G);
       
  (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 

 
CUSIP No 680277100   Page 11 of 15
       
  (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3);
       
  (j)

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

Item 4. Ownership.
   
  Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
             

 

  (a) Amount beneficially owned:
     
   

Financial Opportunity Fund LLC – 2,212,987 shares

FJ Capital Management LLC – 2,321,034 shares

Martin Friedman – 2,321,034 shares

Bridge Equities XI, LLC – 108,047 shares

SunBridge Manager, LLC – 108,047 shares

SunBridge Holdings, LLC - 108,047 shares

Realty Investment Company, Inc – 108,047 shares

     
  (b) Percent of class:
     
   

Financial Opportunity Fund LLC – 4.96%

FJ Capital Management LLC – 5.21%

Martin Friedman – 5.21%

Bridge Equities XI, LLC – 0.24%

SunBridge Manager, LLC – 0.24%

SunBridge Holdings, LLC – 0.24%

Realty Investment Company, Inc – 0.24%

     
  (c) Number of shares as to which such person has:
     
    (i) Sole power to vote or to direct the vote
       
      All Reporting Persons - 0
       
    (ii) Shared power to vote or to direct the vote
       
     

Financial Opportunity Fund LLC – 2,212,987 shares

FJ Capital Management LLC – 2,321,034 shares

Martin Friedman – 2,321,034 shares

Bridge Equities XI, LLC – 108,047 shares

SunBridge Manager, LLC – 108,047 shares

SunBridge Holdings, LLC - 108,047 shares

Realty Investment Company, Inc – 108,047 shares

 

 

 

 

CUSIP No 680277100   Page 12 of 15
       
    (iii) Sole power to dispose or to direct the disposition of
       
      All Reporting Persons – 0
       
    (iv) Shared power to dispose or to direct the disposition of
       
     

Financial Opportunity Fund LLC – 2,212,987 shares

FJ Capital Management LLC – 2,212,987 shares

Martin Friedman – 2,212,987 shares

Bridge Equities XI, LLC – 108,047 shares

SunBridge Manager, LLC – 108,047 shares

SunBridge Holdings, LLC - 108,047 shares

Realty Investment Company, Inc – 108,047 shares

             

 

 

Item 5. Ownership of Five Percent or Less of a Class.
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following
   
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
   
  N/A.
   
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
   
  N/A
   
   
Item 8. Identification and Classification of Members of the Group.
   
  Due to the relationships among them, the reporting persons hereunder may be deemed to constitute a “group” with one another for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934.  
   
Item 9. Notice of Dissolution of Group.
   
  N/A
       
Item 10. Certification.    
   
   
         

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.

 

 

 

CUSIP No 680277100   Page 13 of 15

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

 

 

     

 

Date: 1/26/2023

 

 

 

 

 

 

Financial Opportunity Fund LLC

By: FJ Capital Management LLC, its Managing Member

 

 

 

By: /s/_Martin Friedman

Name: Martin Friedman

Title: Managing Member

 

Financial Opportunity Long/Short Fund LLC

By: FJ Capital Management LLC, its Managing Member

 

 

 

 

By: /s/ Martin Friedman

Name: Martin Friedman

Title: Managing Member

 

FJ Capital Management LLC

 

 

By: /s/_ Martin Friedman

Name: Martin Friedman

Title: Managing Member

 

 

 

 

 

 

 

 

/s/ Martin Friedman

MARTIN FRIEDMAN

     

 

 

 

 

CUSIP No .  680277100   Page 14 of 15

 

 

Bridge Equities XI, LLC

By: SunBridge Manager, LLC, its Managing Member

 

 

 

By: /s/_Christine Shreve

Name: Christine A. Shreve

Title: Manager

 

SunBridge Manager, LLC

By: SunBridge Holdings, LLC, its Managing Member

 

 

 

By: /s/_ Christine Shreve

Name: Christine A. Shreve

Title: President

 

SunBridge Holdings, LLC

By: Realty Investment Company, Inc., its Manager

 

 

 

By: /s/ Christine Shreve

Name: Christine A. Shreve

Title: President

 

realty investment company, inc.

 

 

 

By: /s/_ Christine Shreve

Name: Christine A. Shreve

Title: President

 

 

 

 

 
CUSIP No .  680277100   Page 15 of 15

 

Joint Filing Agreement

 

The undersigned agree that this Schedule 13G, and all amendments thereto, relating to the Common Stock Old Second Bancorp, Inc (OSBC) shall be filed on behalf of the undersigned.

Financial Opportunity Fund LLC   Bridge Equities XI, LLC
By: FJ Capital Management, LLC     By: SunBridge Manager, LLC, its Managing Member
             
             
By: /s/   Martin Friedman     By:    /s/ Christine A. Shreve
  Name: Martin Friedman       Name:  Christine A. Shreve
  Title:  Managing Member       Title: Manager
             
     
Financial Opportunity Long/Short Fund LLC        SunBridge Manager, LLC
        By: SunBridge Holdings, LLC, its Managing Member
By: FJ Capital Management, LLC          
             
             
By:     /s/   Martin Friedman     By: /s/ Christine A. Shreve
  Name:  Martin Friedman       Name:  Christine A. Shreve
  Title: Managing Member       Title: President
             
             
fj capital Management LLC   SunBridge Holdings, LLC
        By: Realty Investment Company, Inc., its Manager
             
             
By:     /s/   Martin Friedman     By: /s/ Christine A. Shreve
  Name:  Martin Friedman       Name:  Christine A. Shreve
  Title: Managing Member       Title: President
             
             
        realty investment company, inc.
             
/s/   Martin Friedman          
MARTIN FRIEDMAN     By: /s/ Christine A. Shreve
        Name:  Christine A. Shreve
        Title: President