OmniAmerican Bank’s earnings slip in third quarter

Posted Friday, Oct. 25, 2013  comments  Print Reprints

Have more to add? News tip? Tell us

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.

Looking for comments?

We welcome your comments on this story, but please be civil. Do not use profanity, hate speech, threats, personal abuse or any device to draw undue attention. Our policy requires those wishing to post here to use their real identity.

Our commenting policy | Facebook commenting FAQ | Why Facebook?