Old Second Bank Hires EVP, Chief Risk Officer

Joseph Marchese's title should be executive vice president and chief credit officer (sted executive vice president and chief risk officer).

The corrected release reads:

OLD SECOND BANK HIRES EVP, CHIEF CREDIT OFFICER

Old Second Bank today announced the appointment of Joseph Marchese to executive vice president and chief credit officer. Marchese will oversee the bank’s credit policy, supervise all bank credit governance, special assets, loan operations, and will develop an ongoing sound credit culture.

As a bank loan portfolio and credit culture specialist with more than 30 years of experience, Marchese has played critical executive roles in refining and re-engineering lending and asset-recovery practices at several super-regional and community banks in Florida, Illinois, and Washington. He also has performed leadership roles in several acquisitions of troubled banks in pre-purchase evaluation and diligence. Most recently, Marchese was EVP, ECO and COO of American West Bank in Spokane, Wash., and formerly was CCO of Midland States Bank in Effingham, Ill.

Prior to moving to Illinois, Marchese served in various senior lending and credit administration management capacities in South Florida with large financial institutions such as Regions Bank, LaSalle Business Credit, Fleet Capital, Comerica, and Israel Discount Bank.

Old Second Bancorp (NASDAQ: OSBC) is the holding company for Old Second National Bank. Old Second Financial Inc. is also a subsidiary of Old Second Bancorp. The Bancorp operates over 25 facilities in Kane, Kendall, DuPage, DeKalb, LaSalle, Will, and Cook counties.

Copyright Business Wire 2010

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