Old Second National Bank

  www.oldsecond.com
  www.oldsecond.com

Old Second National Bank Jobs & Careers

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30+ days ago

Mortgage Loan Officer

Old Second Bank Chicago, IL

Were looking to hire the best. We want to hire top-producers who are facing challenges in meeting their clients needs based on new rules and new… Glassdoor


14 hrs ago

Part Time Teller – new

Old Second Bank Yorkville, IL +2 locations

include: • Working in an often fast-paced environment with front-line customer contact • Accurately and efficiently processing customer financial… Glassdoor


30+ days ago

Commercial Loan Officer

Old Second Aurora, IL

Old Second currently has several exciting opportunities for proven Commercial Bankers to work directly for our most senior Commercial Managers and… Glassdoor


30+ days ago

*General Resume Submission*

Old Second Aurora, IL +2 locations

If you don't see the perfect job for you currently listed on our site, submit your resume here and we will save your information in our database… Glassdoor


18 days ago

Retail Banking Floater

Old Second Bank Yorkville & Surrounding areas, IL

include: • Working in an often fast-paced environment with front-line customer contact • Accurately and efficiently processing customer… Glassdoor


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Old Second National Bank Reviews

4 Reviews
2.5
4 Reviews

Recommend to a friend
Approve of CEO
(no image)
William B. Skoglund
3 Ratings
  1.  

    Hired for a job that doesn't exist

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Vice President in Aurora, IL
    Current Employee - Senior Vice President in Aurora, IL

    I have been working at Old Second National Bank full-time (less than an year)

    Pros

    Executive leadership, with the help of their CPA firm, has mastered the art of accounting irregularities. CEO has dedication to business as evidenced by the "tornado day" when he ordered first floor tellers to remain at their station rather than seeking shelter in the basement during a tornado warning.

    Optrimistic executives hosted celebratory breakfast immediately on news that OCC had released their restrictive order.

    Bank has no loan pricing model in place and the risk-ratings are applied "rock/paper/scissors" fashion so there's lots of flexibility to make loans, both good and bad.

    The bank has an excellent geogrphic franchise but this is more than offset by the ineptness of management

    The people are generally pleasant and easy going - why wouldn't they be, they're not reallly held accountable by management any more than management holds themselves accountable, which they don't. Think Mayberry Financial.

    Cons

    Corporate objective is to "not go out of business" so executive leadership can continue cashing paychecks while avoiding work & responsibility at this Zombie institution

    The largely minority workforce casts an awkward shadow on the white male leadership environment.

    If the outside director appointed in December 2012 had any idea what goes on here he would pass out.

    The loan committee members "laughed" at the interest rate charged to a long-time customer, thinking that the customer was "too stupid" to shop around.

    The Chief Credit Officer commutes from Effingham and has no lasting commitment to either the local community or the institution.

    Advice to ManagementAdvice

    Shift the largely minority workforce to part-time to save more money and avoid substantive change

    Sell the bank to an institution that knows what they're doing - But management won't let this happen because current management is "not employable" in the current market and would bring "no value" to a competent buyer. Moreover, there is no dynamic in the capital structure to force a sale so this institution will likely be a "zombie in perpetuity" unless they dilute capital with credit losses which is a potential scenario.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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