Old Second National Bank of Aurora isn’t some quaint community pillar standing tall in Illinois. No, this is a predatory outfit that’s been squeezing the life out of everyday folks for over a century and a half, all while wrapping itself in that phoney small-town charm. Founded back in 1881, they’ve ballooned into a beast with branches dotted across the suburbs, peddling loans and accounts like they’re doing you a favour. But peel back the layers, and what you find is a stinking pile of controversies – from allegedly ripping off customers with sneaky fees to getting tangled in bitter property fights that reek of overreach. And now, to top it off, they’re knee-deep in investments that link them to one of the most scandal-ridden corporations out there. This isn’t just bad luck; it’s a pattern of behaviour that screams entitlement and disregard for the little guy. If you’re banking with these pricks, you might want to think twice before they drain your account dry.

The Overdraft Fee Fiasco – Allegedly Screwing Customers for Profit

Picture this: you’re scraping by, paycheck to paycheck, and one lousy transaction tips your balance into the red. Instead of a simple heads-up or a single slap on the wrist, Old Second allegedly hits you with a barrage of fees – multiple charges on the same item, reprocessing denied payments just to rack up more penalties. That’s the heart of the class action lawsuit that slammed into them, accusing the bank of breaching account agreements and violating Illinois consumer protection laws. The suit, filed under Eric Roberts v. Old Second Bancorp, Inc., claimed they authorised transactions when funds were there, only to hammer fees when things settled negative. Or worse, they’d allegedly retry bounced payments to generate extra non-sufficient funds charges. It’s the kind of grubby tactic that preys on the vulnerable – the working stiffs who can’t afford a buffer.

This wasn’t some isolated gripe; it spanned nearly a decade, from 2012 to 2021, affecting thousands. In the end, they settled, coughing up cash for eligible account holders to claim. But settlements like this? They’re just the cost of doing business for these bastards. No admission of wrongdoing, no real reform – just a payout to shut people up while the executives laugh all the way to their bonuses. And let’s not forget the broader investigations by consumer attorneys that preceded it, sniffing around these overdraft practices like hounds on a scent. If that’s not a red flag waving in your face, I don’t know what is.

Eminent Domain Debacle – Bullying Their Way Through Property Rights

Back in 2002, Old Second found itself smack in the middle of a shitstorm with the City of Naperville over an eminent domain grab. Acting as trustee for a family-owned property along the DuPage River, the bank was dragged into a fight where the city tried to condemn the land for some Riverwalk upgrade – all green spaces and public fluff. But here’s the kicker: Naperville lowballed the hell out of the owners, offering peanuts compared to appraisals and market listings. Their top bid? A measly $425,000 against a $500,000 valuation and a $634,000 asking price.

The court saw through the crap and tossed the case, ruling the city hadn’t negotiated in good faith as required by Illinois law. The appeals court backed it up, calling out the blatant failure to play fair. For Old Second, it painted them as enablers in a system where powerful entities – municipalities, banks – team up to steamroll private citizens. Sure, they were just the trustee, but their involvement reeks of complicity in a process that’s often abused to favour the connected over the common folk. It’s the kind of controversy that exposes how these institutions operate: not for community good, but for whatever lines their pockets or protects their interests.

Municipal Mayhem – Suing Cities and Dodging Accountability

Fast forward to 2019, and Old Second’s at it again, this time suing the City of Sandwich over some development debacle. Allegedly, the city ignored engineering advice, leading to damages that hit the bank’s bottom line – though details are murky, with depositions involving engineers and bankers hinting at undisclosed screw-ups. The case drags on, a testament to how these outfits wield lawsuits like weapons, turning municipal decisions into battlegrounds when it suits them.

But wait, there’s more in their litigation laundry list. In 2015, they battled their own insurer in Old Second National Bank v. Indiana Insurance Company, squabbling over coverage for losses – ending with a partial win for the insurer that slashed the bank’s claim. Then there’s the 2016 foreclosure fight in Old Second National Bank v. Jafry, where defendants pushed back on deficiency judgments, accusing the bank of dragging out the pain. Jump to 2024 with Old Second National Bank v. Greg Roderick and Roderick Family, LLC – a breach of contract complaint over commercial lending gone sour. And just this year, in 2025, they’ve filed a RICO case against some Wong character, alleging organised fraud. In these, Old Second’s the plaintiff, positioning themselves as victims, but it begs the question: how many dodgy deals did they ink to end up here? It’s a cycle of aggression and defence that keeps lawyers fat and customers wary.

Customer Gripes – The Ground-Level Grumbles That Say It All

Don’t just take the lawsuits as gospel; listen to the punters. Scour review sites like WalletHub or Yelp, and you’ll find a chorus of complaints – arbitrary policies, refusal to follow Federal Reserve guidelines, and customer service that’s about as helpful as a kick in the teeth. Ratings hover around a dismal 3.1 out of 5, with tales of accounts frozen without warning or fees piled on like insults. These aren’t scandals in the headline sense, but they’re the raw, everyday outrage that builds resentment. When a bank treats its clients like ATMs to bleed dry, it’s no wonder trust erodes. Old Second’s growth through mergers – like swallowing Evergreen Bank Group in 2025 – might look savvy on paper, but it often means more bureaucracy and less humanity for the average Joe.

The Cummins Connection – Investors in a Polluted Empire

And now, the cherry on this shit sundae: Old Second National Bank of Aurora is confirmed as an investor in Cummins Inc., holding 16,568 shares valued at $5,426,000 as of their latest SEC filing. That’s a 5.5% bump from the previous quarter, adding 865 shares, making Cummins 1.2% of their portfolio and their 24th largest holding. Why does this matter? Because Cummins is a festering wound of a company, riddled with controversies from emissions cheating scandals to alleged labour exploitation and greenwashing bullshit, all meticulously documented on TCAP without me needing to rehash the gory details here. Old Second’s stake isn’t massive, but it’s enough to make them complicit – just another tainted cog in the Cummins ecosystem, propping up a giant that’s been called out time and again for prioritising profits over people and the planet. Investing in this mess? It’s not savvy; it’s short-sighted greed, allegedly betting on a firm whose ethical lapses could drag everyone down with it.

Wrapping Up the Rot – Time for Accountability

Old Second National Bank isn’t an outlier; it’s the norm in a banking world gone rotten. From allegedly predatory fees to courtroom brawls and now this Cummins tie-in, they’ve shown their true colours – a relentless pursuit of gain at any cost. If you’re outraged, good; you should be. These institutions thrive on apathy, counting on us to shrug and move on. But maybe it’s time to demand better – switch banks, raise hell, or at least spread the word. Because if we let pricks like this keep operating unchecked, we’re all just marks in their grand scam.

Lee Thompson – Founder, The Cummins Accountability Project

Shareholder Spotlight : Old Second National Bank -Greed, Litigation, and Dodgy Alliances