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OmniAmerican Bancorp: Attractive Locations, Possible Buyout

Executive summary:

  • The bank is overcapitalized with high asset quality, and is transitioning their loan portfolios to higher yields.
  • Branch locations could be attractive for a possible buyout, and long-term prospects look promising.
  • The bank has passed their three-year anniversary since their mutual-to-stock conversion, allowing a buyout.

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Company Description

OmniAmerican Bancorp, Inc. (NASDAQ:OABC) is a Maryland corporation with banking operations in the Dallas-Fort Worth-Arlington metropolitan area (later described as DFW). The bank is small, with $1.39 billion in total assets, and has recently been ranked 26th in total deposit share, with 0.44% of DFW deposits. The company owns all of the outstanding shares of the common stock of OmniAmerican Bank, which was fully converted from a mutual...

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