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10/26/2012

OmniAmerican earnings rise

Fort Worth-based OmniAmerican Bank said Friday that it earned $2.3 million in the third quarter, or 22 cents a share, more than double the $1 million profit a year earlier. The bank said the improvement was driven by higher investment gains and lower losses on bad loans. OmniAmerican also expanded its outstanding loans by $83.1million, or 12.4 percent, from a year earlier. The bank finished the quarter with $1.28 billion in assets as of Sept. 30. "OmniAmerican's performance during the third quarter of 2012 is our strongest in recent history. These results clearly demonstrate that our financial strategy is working," CEO Tim Carter said in a prepared release. He said "the seasoned lending staff we added earlier this year has substantially strengthened the bank's lending relationships and increased our loan production."

-- Jim Fuquay

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