XML 20 R33.htm IDEA: XBRL DOCUMENT v2.4.1.9

Fair Value Option and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Measurements

Schedule of balance of assets and liabilities which are measured at fair value on a recurring basis

		March 31, 2015
		Level 1			Level 2			Level 3			Total
Assets:
Investment securities available-for-sale
U.S. Treasury		$	1,525		$	-		$	-		$	1,525
U.S. government agencies			-			1,611			-			1,611
States and political subdivisions			-			33,628			118			33,746
Corporate Bonds			-			33,004			-			33,004
Collateralized mortgage obligations			-			68,093			-			68,093
Asset-backed securities			-			168,256			-			168,256
Collateralized loan obligations			-			93,017			-			93,017
Loans held-for-sale			-			7,038			-			7,038
Mortgage servicing rights			-			-			5,254			5,254
Other assets (Interest rate swap agreements)			-			66			-			66
Other assets (Mortgage banking derivatives)			-			296			-			296
Total		$	1,525		$	405,009		$	5,372		$	411,906
Liabilities:
Other liabilities (Interest rate swap agreements)		$	-		$	66		$	-		$	66
Total		$	-		$	66		$	-		$	66

		December 31, 2014
		Level 1			Level 2			Level 3			Total
Assets:
Investment securities available-for-sale
U.S. Treasury		$	1,527		$	-		$	-		$	1,527
U.S. government agencies			-			1,624			-			1,624
States and political subdivisions			-			21,900			118			22,018
Corporate bonds			-			30,985			-			30,985
Collateralized mortgage obligations			-			63,627			-			63,627
Asset-backed securities			-			120,555			52,941			173,496
Collateralized loan obligations			-			92,209			-			92,209
Loans held-for-sale			-			5,072			-			5,072
Mortgage servicing rights			-			-			5,462			5,462
Other assets (Interest rate swap agreements net of swap credit valuation)			-			30			-			30
Other assets (Mortgage banking derivatives)			-			143			-			143
Total		$	1,527		$	336,145		$	58,521		$	396,193
Liabilities:
Other liabilities (Interest rate swap agreements)		$	-		$	30		$	-		$	30
Total		$	-		$	30		$	-		$	30

Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis

		Three months ended  March 31, 2015
		Securities available-for-sale
					States and			Mortgage
		Asset-			Political			Servicing
		backed			Subdivisions			Rights
Beginning balance January 1, 2015		$	52,941		$	118		$	5,462
Transfers out of Level 3			(24,917)			-			-
Total gains or losses
Included in earnings (or changes in net assets)			(28)			-			(454)
Included in other comprehensive income			(541)			-			-
Purchases, issuances, sales, and settlements
Issuances			-			-			401
Settlements			-			-			(155)
Sales			(27,455)			-			-
Ending balance March 31, 2015		$	-		$	118		$	5,254

		Three months ended  March 31, 2014
		Securities available-for-sale
					States and			Mortgage			Interest Rate
		Asset-			Political			Servicing			Swap
		backed			Subdivisions			Rights			Valuation
Beginning balance January 1, 2014		$	154,137		$	125		$	5,807		$	(6)
Total gains or losses
Included in earnings (or changes in net assets)			226			-			111			5
Included in other comprehensive income			(315)			-			-			-
Purchases, issuances, sales, and settlements
Purchases			4,290			-			-			-
Issuances			-			-			(304)			-
Ending balance March 31, 2014		$	158,338		$	125		$	5,614		$	(1)

Schedule of quantitative information about level 3 fair value measurements

The following table and commentary presents quantitative and qualitative information about Level 3 fair value measurements as of March 31, 2015:

Weighted

Measured at fair value

Unobservable

Average

on a recurring basis:

Fair Value

Valuation Methodology

Inputs

Range of Input

of Inputs

Mortgage Servicing rights

$

5,254

Discounted Cash Flow

Discount Rate

9.7-15.5%

11.9

%

Prepayment Speed

4.8-35.1%

10.2

%

The following table and commentary presents quantitative and qualitative information about Level 3 fair value measurements as of December 31, 2014:

											Weighted
Measured at fair value							Unobservable				Average
on a recurring basis:		Fair Value			Valuation Methodology		Inputs		Range of Input		of Inputs
Mortgage Servicing rights		$	5,462		Discounted Cash Flow		Discount Rate		9.7-108.2%		10.2	%
							Prepayment Speed		5.0-78.4%		10.9	%
Asset-backed securities			52,941		Discounted Cash Flow		Credit Risk Premium		0.9-0.9%		0.9	%
					with comparable transaction yields		Liquidity Discount		3.5-3.7%		3.6	%

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

		March 31, 2015
		Level 1			Level 2			Level 3			Total
Impaired loans1		$	-		$	-		$	4,776		$	4,776
Other real estate owned, net2			-			-			35,461			35,461
Total		$	-		$	-		$	40,237		$	40,237

1 Represents carrying value and related write-downs of loans for which adjustments are substantially based on the fair value of the impaired loan had a carrying amount of $6.6 million, with a valuation allowance of $1.8 million, resulting in an increase of specific allocations within the allowance for loan losses of $1.5 million for the three months ending March 31, 2015.

2 OREO is measured at the lower of carrying or fair value less costs to sell, and had a net carrying amount of $35.5 million, which is made up of the outstanding balance of $56.8 million, net of a valuation allowance of $19.5 million and participations of $1.8 million, at March 31, 2015.

		December 31, 2014
		Level 1			Level 2			Level 3			Total
Impaired loans1		$	-		$	-		$	564		$	564
Other real estate owned, net2			-			-			31,982			31,982
Total		$	-		$	-		$	32,546		$	32,546

1 Represents carrying value and related write-downs of loans for which adjustments are substantially based on the appraised value of collateral for collateral-dependent loans, had a carrying amount of $842,000, with a valuation allowance of $278,000, resulting in a decrease of specific allocations within the provision for loan losses of $2.1 million for the year ending December 31, 2014.

2 OREO is measured at the lower of carrying or fair value less costs to sell, and had a net carrying amount of $32.0 million, which is made up of the outstanding balance of $53.0 million, net of a valuation allowance of $19.2 million and participations of $1.8 million, at December 31, 2014.

X

- Definition

Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset or liability.

+ References

No definition available.

+ Details

Name:	osbc_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix:	osbc_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration