OmniAmerican Bank’s earnings slip in third quarter

Posted Friday, Oct. 25, 2013  comments  Print Reprints
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Fort Worth-based OmniAmerican Bank said third-quarter earnings dipped 4 percent from a year ago, to $2.2 million, or 21 cents a share. Its net loans rose 17 percent to $1.45 billion.

The bank recently trimmed its staff by 8 percent, but severance costs won’t appear until its fourth-quarter results. It also said it plans to exit the indirect auto-lending business, in which it buys vehicle loans from dealers.

The increase in loans for the quarter came in the bank’s commercial loan portfolio, CEO Tim Carter said.

“We believe these steps are a critical part of our evolution towards a greater focus on commercial lending, residential real estate lending and retail banking, as part of our plan for success as a full-service, relationship-focused community bank,” Carter said in a release.

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