OmniAmerican Bancorp, Inc. (Nasdaq:OABC), the holding company for
OmniAmerican Bank, today announced financial results for the fourth
quarter and year ended December 31, 2012. The financial information
contained herein at and for the three months and year ended
December 31, 2012 is unaudited.
2012 Highlights
- OABC generated net income of $5.7 million for the 2012
fiscal year. This is an increase of $1.7 million, or 43.6 percent,
over the previous year's net income of $4.0 million. On a
per-share basis, 2012 earnings were $0.55 per basic and diluted
share, an increase of $0.18, or 48.6 percent, compared to $0.37 per
basic and diluted share in 2011.
- The primary contributors to the increase in net income
for the year ended December 31, 2012 compared to the prior year
were an increase in noninterest income of $2.6 million and
a decrease in the provision for loan losses of $1.3
million. The increase in noninterest income was primarily
due to a $2.0 million increase in gains on sales of loans and
a $501,000 increase in commissions income. The decrease in the
provision for loan losses was primarily due to improvements in
asset quality and a $1.3 million decrease in net charge-offs. These
increases in net income were partially offset by a decrease in net
interest income of $1.5 million and an increase in income tax
expense of $1.0 million.
- The Company reported net income of $1.2 million and
earnings per basic and diluted share of $0.11 in the fourth quarter
of 2012 compared to net income of $1.2 million and
earnings per basic and diluted share of $0.12 for the fourth
quarter of 2011. Increases in net income due to a decrease in the
provision for loan losses of $1.7 million and an increase in other
noninterest income of $322,000 were offset by decreases due to an
increase in noninterest expense of $1.5 million and a decrease
in net interest income of $577,000.
- OABC achieved solid loan growth of $51.8 million, or
7.6 percent, during the year ended December 31, 2012 as
our focus on lending services and the addition of seasoned lenders
to our staff enhanced our ability to produce high quality lending
relationships.
- Total assets for OABC decreased $79.4 million, or 5.9
percent, to $1.26 billion at December 31, 2012 from $1.34 billion
at December 31, 2011, primarily due to a decrease of
$146.0 million in securities classified as available for sale,
partially offset by a $51.8 million increase in loans, net of the
allowance for loan losses and deferred fees and discounts, and an
$11.2 million increase in bank-owned life insurance.
"2012 was a great year for OmniAmerican, as our overall bank
strategy continues to produce sustained growth year-over-year,"
said Tim Carter, president and CEO of OmniAmerican Bank. "Our
emphasis on attracting and retaining a seasoned team to enhance our
lending relationships resulted in solid loan increases. At the same
time, we progressed in our efforts to strengthen customer
relationships by making our banking experience more convenient than
ever. This included the planning and development of our upgraded
E-Banking system and mobile banking options, as well as the
execution of programs to help our employees refine their customer
care strategies. We have a great team in place for 2013, and
I'm looking forward to building on our momentum."
Financial Condition as of December 31, 2012 Compared
with December 31, 2011
Total assets decreased $79.4 million, or 5.9 percent, to $1.26
billion at December 31, 2012 from $1.34 billion at
December 31, 2011, primarily due to a $146.0 million decrease
in securities available for sale, partially offset by a
$51.8 million increase in loans, net of the allowance for loan
losses and deferred fees and discounts, and an $11.2 million
increase in bank-owned life insurance.
Cash and cash equivalents increased $2.7 million, or 12.7
percent, to $23.9 million at December 31, 2012 from
$21.2 million at December 31, 2011, primarily due to
$268.0 million in cash received from loan principal repayments,
$134.0 million in proceeds from principal repayments and maturities
of securities, $73.7 million in proceeds from the sales of loans,
$60.4 million in proceeds from the sales of securities available
for sale, $11.0 million in cash from overnight borrowings, $8.7
million in cash from the net increase in deposits, and $5.7 million
in proceeds from the sales of repossessed assets. These increases
were partially offset by decreases due to $388.8 million in cash
used to originate loans, $55.0 million in cash used to repay
Federal Home Loan Bank advances, $53.0 million in cash used to
purchase investment securities available for sale, $50.0 million in
cash used to repay repurchase agreements, and $10.0 million in cash
used to purchase bank-owned life insurance.
Securities classified as available for sale decreased $146.0
million, or 27.6 percent, to $383.9 million at December 31, 2012
from $529.9 million at December 31, 2011. The decrease in
securities classified as available for sale is primarily
attributable to principal repayments and maturities of $134.0
million, sales of securities available for sale of
$59.6 million, and amortization of the net premiums on
investments of $4.4 million, partially offset by purchases of
securities available for sale of $53.0 million during the year
ended December 31, 2012.
Loans, net of the allowance for loan losses and deferred fees
and discounts, increased $51.8 million, or 7.6 percent, to $735.3
million at December 31, 2012 from $683.5 million at
December 31, 2011. The increase in loans included a
$41.9 million increase in automobile loans, a $26.7 million
increase in commercial business loans, and a $4.1 million increase
in real estate construction loans, partially offset by an $18.7
million decrease in one- to four-family residential real estate
loans, a $2.9 million decrease in commercial real estate loans, and
a $1.2 million decrease in home equity loans.
Bank-owned life insurance increased $11.2 million, or 53.1
percent, to $32.2 million at December 31, 2012 from
$21.0 million at December 31, 2011, primarily due to the
purchase of $10.0 million of life insurance policies on certain key
employees during the year ended December 31, 2012.
Deposits increased $8.7 million, or 1.1 percent, to $816.3
million at December 31, 2012 from $807.6 million at December 31,
2011. The increase was primarily due to increases in money market
deposits of $78.1 million, noninterest-bearing demand deposits of
$14.1 million, and interest-bearing demand deposits of $4.2
million, partially offset by decreases in savings deposits of $62.5
million. The overall increase in transaction accounts was primarily
due to increases in the deposit account balances of our commercial
customers. Certificates of deposit decreased $25.2 million
primarily due to certificates of deposit that matured and were not
renewed.
Federal Home Loan Bank advances decreased $55.0 million, or 21.0
percent, to $207.0 million at December 31, 2012 from $262.0 million
at December 31, 2011. The decrease in Federal Home Loan Bank
advances was attributable to scheduled maturities of $307.5
million, partially offset by advances of $252.5 million during the
year ended December 31, 2012. Repurchase agreements decreased
$50.0 million, or 86.2%, to $8.0 million at December 31,
2012 from $58.0 million at December 31, 2011, primarily due to
the maturity and repayment of a repurchase agreement in July 2012.
Other borrowings increased to $11.0 million at December 31, 2012
due to $11.0 million of overnight borrowings at December 31,
2012.
Stockholders' equity increased $6.6 million, or 3.3 percent, to
$205.6 million at December 31, 2012 from $199.0 million at
December 31, 2011. The increase in stockholders' equity was
primarily due to net income of $5.7 million, share-based
compensation expense of $1.3 million, and ESOP compensation expense
of $792,000 for the year ended December 31, 2012. These increases
were partially offset by decreases due to the purchase of 42,500
shares of our common stock at a cost of $894,000 and other
comprehensive loss of $573,000.
Asset Quality as of December 31, 2012 Compared with
December 31, 2011
Non-performing assets decreased $3.5 million, or 21.2 percent,
to $13.0 million, or 1.04 percent of total assets, as of December
31, 2012, from $16.5 million, or 1.24 percent of total assets, as
of December 31, 2011, primarily due to decreases of
$1.9 million in other real estate owned and $1.8 million in
loans on nonaccrual status. The decrease in other real estate owned
resulted primarily from sales of other real estate owned properties
totaling $2.9 million and write-downs of other real estate owned
properties to the current fair values less costs to sell totaling
$1.0 million, partially offset by loans reclassified to other
real estate owned totaling $2.0 million during the year ended
December 31, 2012.
Operating Results for the Three Months Ended December
31, 2012 Compared with the Three Months Ended December 31,
2011
Net income decreased $39,000, or 3.3 percent, to $1.2 million,
or $0.11 per share, for the quarter ended December 31, 2012 from
$1.2 million, or $0.12 per share, for the quarter ended December
31, 2011.
Net interest income decreased by $577,000, or 5.8 percent, to
$9.3 million for the quarter ended December 31, 2012 from $9.9
million for the quarter ended December 31, 2011, primarily due to a
decrease in the average yield on interest-earning assets, partially
offset by a decrease in the average balance of interest-bearing
liabilities. Total interest income decreased $1.5 million, or 11.5
percent, to $11.6 million for the three months ended December 31,
2012 from $13.1 million for the three months ended December 31,
2011, primarily due to a 36 basis point decrease in the average
yield on interest-earning assets and a 4.0 percent decrease in the
average balance of interest-earning assets. Total interest expense
decreased $976,000, or 30.5 percent, to $2.2 million for the three
months ended December 31, 2012 from $3.2 million for the three
months ended December 31, 2011, primarily due to a 2.7 percent
decrease in the average balance of interest-bearing liabilities and
a 36 basis point decrease in the average rate paid on
interest-bearing liabilities.
We recorded no provision for loan losses for the quarter ended
December 31, 2012 compared to a provision for loan losses of $1.7
million for the quarter ended December 31, 2011. The provision for
loan losses is charged to operations to bring the allowance for
loan losses to a level that reflects management's best estimate of
the losses inherent in the loan portfolio. The allowance for loan
losses to total loans receivable ratio decreased to 0.93 percent at
December 31, 2012 from 1.15 percent at December 31, 2011. Net
charge-offs decreased $1.8 million, to $412,000, or 0.22 percent of
average loans outstanding, for the three months ended December 31,
2012 from $2.3 million, or 1.32 percent of average loans
outstanding, for the three months ended December 31, 2011.
Noninterest income increased by $322,000, or 8.3 percent, to
$4.3 million for the quarter ended December 31, 2012 from $3.9
million for the quarter ended December 31, 2011, primarily due to
increases in gains on sales of loans of $792,000, other income of
$97,000, and the increase in cash surrender value of bank-owned
life insurance of $93,000, partially offset by a decrease in gains
on sales of securities available for sale of $786,000. The increase
in gains on sales of loans resulted primarily from increased sales
of mortgage loans as the Company began selling a portion of its
fixed-rate one- to four-family residential real estate loans with
terms of 15 to 25 years during the second half of 2012. The
increase in other income was primarily attributable to an increase
in income from the rental of our headquarters building. The
improvement in the increase in cash surrender value of bank-owned
life insurance was primarily due to the purchase of $10.0 million
of life insurance policies during the year ended December 31, 2012.
The decrease in gains on sales of investment securities is
attributable to sales of $56.0 million of investment securities in
the fourth quarter of 2011. No sales of investment securities
occurred during the fourth quarter of 2012.
Noninterest expense increased by $1.5 million, or 14.7 percent,
to $11.7 million for the quarter ended December 31, 2012 from $10.2
million for the quarter ended December 31, 2011, primarily due to a
$990,000 increase in salaries and benefits expense and a $438,000
increase in professional and outside services expense. The increase
in salaries and benefits expense was due primarily to increases in
expenses related to our defined benefit pension plan, our equity
incentive plan, and our cash incentive plan. The increase in
professional and outside services resulted primarily from costs
associated with the enhancement of our electronic banking
capabilities and expenses related to the equity incentive plan
attributable to our outside directors.
Operating Results for the Year Ended December 31, 2012
Compared with the Year Ended December 31, 2011
Net income increased $1.7 million, or 43.6 percent, to $5.7
million, or $0.55 per share, for the year ended December 31, 2012
from $4.0 million, or $0.37 per share, for the year ended December
31, 2011.
Net interest income decreased by $1.5 million, or 3.8 percent,
to $39.2 million for the year ended December 31, 2012 from $40.7
million for the year ended December 31, 2011, primarily due to a
decrease in the average yield on interest-earning assets, partially
offset by an increase in the average balance of interest-earning
assets and a decrease in the average rate paid on interest-bearing
liabilities. Total interest income decreased $3.8 million, or 7.0
percent, to $50.0 million for the year ended December 31, 2012
from $53.8 million for the year ended December 31, 2011, primarily
due to a 45 basis point decrease in the average yield on
interest-earning assets, partially offset by a 3.3 percent increase
in the average balance of interest-earning assets. Total interest
expense decreased $2.2 million, or 17.0 percent, to
$10.9 million for the year ended December 31, 2012 from $13.1
million for the year ended December 31, 2011, primarily due to a 29
basis point decrease in the average rate paid on interest-bearing
liabilities, partially offset by a 6.8 percent increase in the
average balance of interest-bearing liabilities.
The provision for loan losses decreased by $1.3 million, or 39.6
percent, to $1.9 million for the year ended December 31, 2012 from
$3.2 million for the year ended December 31, 2011. The provision
for loan losses is charged to operations to bring the allowance for
loan losses to a level that reflects management's best estimate of
the losses inherent in the loan portfolio. The decrease in the
provision for loan losses for the year ended December 31, 2012 is
primarily attributable to improvements in asset quality and to a
$1.3 million decrease in net charge-offs, to $3.0 million, or 0.40
percent of average loans outstanding, for the year ended December
31, 2012 from $4.3 million, or 0.63 percent of average loans
outstanding, for the year ended December 31, 2011.
Noninterest income increased by $2.6 million, or 20.0 percent,
to $15.8 million for the year ended December 31, 2012 from $13.2
million for the year ended December 31, 2011, primarily due to
increases in gains on sales of loans of $2.0 million,
commissions income of $501,000, and a decrease in net losses on
sales of repossessed assets of $346,000, partially offset by a
decrease in service charges and other fees income of $428,000. The
increase in gains on sales of loans resulted primarily from
improvements in the pricing of one- to four-family residential real
estate loans sold in the secondary market, our efforts to sell more
of our one- to four-family residential real estate loans, and the
sale of a substandard commercial business loan in the year ended
December 31, 2011 at a loss of $212,000. The increase in
commissions income resulted primarily from an increase in the sales
of investment products. The decrease in net losses on sales of
repossessed assets resulted primarily from fewer foreclosures and
sales of repossessed assets and the stabilization of asset values
in 2012. The decrease in service charges and other fees income was
primarily attributable to a decrease in non-sufficient funds fee
income and a decrease in debit card interchange income.
Noninterest expense decreased by $380,000, or 0.8 percent, to
$44.4 million for the year ended December 31, 2012 from $44.8
million for the year ended December 31, 2011, primarily due to a
$1.5 million decrease in the net loss on the write-down of other
real estate owned, an $866,000 decrease in depreciation of
furniture, software, and equipment, and a $407,000 decrease in
other operations expense, partially offset by a $1.8 million
increase in salaries and benefits expense and an $898,000 increase
in professional and outside services expense. The decrease in the
net loss on the write-down of other real estate owned was primarily
attributable to write-downs of properties to their current fair
value less estimated costs to sell totaling $1.0 million during the
year ended December 31, 2012 compared to a total of $2.5 million in
write-downs during the year ended December 31, 2011. The decrease
in depreciation of furniture, software, and equipment was due
primarily to certain assets being fully depreciated. The decrease
in other operations expense was primarily attributable to our
company-wide cost reduction efforts. The increase in salaries and
benefits expense was due primarily to expenses related to our
equity incentive plan implemented in June 2011 and higher
commissions expense reflecting an increase in sales of investment
products. The increase in professional and outside services
resulted primarily from increases in expenses related to the equity
incentive plan attributable to our outside directors and costs
associated with the expansion of our ATM network and enhancement of
our electronic banking capabilities.
About OmniAmerican Bancorp, Inc.
OmniAmerican Bancorp, Inc. is traded on the NASDAQ Global Select
Market under the symbol "OABC" and is the holding company for
OmniAmerican Bank, a full-service financial institution
headquartered in Fort Worth, Texas. OmniAmerican Bank operates 15
full-service branches in the Dallas/Fort Worth Metroplex and offers
a full array of consumer products and services as well as
business/commercial services, mortgages and retirement planning.
Founded over 50 years ago, OmniAmerican Bank had $1.26 billion in
assets at December 31, 2012 and is proud to provide the highest
level of personal service. Additional information is available at
www.OmniAmerican.com.
The OmniAmerican Bancorp, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7008
Cautionary Statement About Forward-Looking
Information
This news release contains forward-looking statements, which can
be identified by the use of words such as "estimate," "project,"
"believe," "intend," "anticipate," "plan," "seek," "expect," "may,"
and words of similar meaning. These forward-looking statements
include, but are not limited to, statements of our goals,
intentions, and expectations; statements regarding our business
plans, prospects, growth, and operating strategies; statements
regarding the asset quality of our loan and investment portfolios;
and estimates of our risks and future costs and benefits.
These forward-looking statements are based on our current
beliefs and expectations and are inherently subject to significant
business, economic, and competitive uncertainties and
contingencies, many of which are beyond our control. In addition,
these forward-looking statements are subject to assumptions with
respect to future business strategies and decisions that are
subject to change. We are under no duty to and do not take any
obligation to update any forward-looking statements after the date
of this earnings release.
The following factors, among others, could cause actual results
to differ materially from the anticipated results or other
expectations expressed in the forward-looking statements: general
economic conditions, either nationally or in our market areas, that
are worse than expected; competition among depository and other
financial institutions; inflation and changes in the interest rate
environment that reduce our margins or reduce the fair value of
financial instruments; adverse changes in the securities markets;
changes in laws or government regulations or policies affecting
financial institutions, including changes in regulatory fees and
capital requirements; our ability to enter new markets successfully
and capitalize on growth opportunities; our ability to successfully
integrate acquired entities, if any; changes in consumer spending,
borrowing, and savings habits; changes in accounting policies and
practices, as may be adopted by the bank regulatory agencies, the
Financial Accounting Standards Board, the Securities and Exchange
Commission, and the Public Company Accounting Oversight Board;
inability of borrowers and/or third-party providers to perform
their obligations to us; the effect of developments in the
secondary market affecting our loan pricing; changes in our
organization, compensation, and benefit plans; changes in our
financial condition or results of operations that reduce capital
available to pay dividends; changes in the financial condition or
future prospects of issuers of securities that we own; changes
resulting from intense compliance and regulatory costs associated
with the Dodd-Frank Wall Street Reform and Consumer Protection Act;
and changes in our regulatory capital resulting from compliance
with the proposed Basel III capital rules.
Because of these and a wide variety of other uncertainties, our
actual future results may be materially different from the results
indicated by these forward-looking statements.
| |
| |
| OmniAmerican Bancorp,
Inc. and Subsidiary |
| Consolidated Balance
Sheets (Unaudited) |
| (Dollars in thousands,
except per share data) |
| |
|
|
| |
|
|
| |
December
31, |
| |
2012 |
2011 |
| ASSETS |
|
|
| Cash and cash equivalents |
$ 23,853 |
$ 21,158 |
| Investments: |
|
|
| Securities available for sale
at fair value |
383,909 |
529,941 |
| Other |
12,867 |
13,465 |
| Loans held for sale |
8,829 |
2,418 |
| |
|
|
| Loans, net of deferred fees and
discounts |
742,171 |
691,399 |
| Less allowance for loan
losses |
(6,900) |
(7,908) |
| Loans, net |
735,271 |
683,491 |
| Premises and equipment, net |
43,126 |
44,943 |
| Bank-owned life insurance |
32,183 |
21,016 |
| Other real estate owned |
4,769 |
6,683 |
| Mortgage servicing rights |
1,009 |
1,057 |
| Deferred tax asset, net |
1,039 |
2,238 |
| Accrued interest receivable |
3,340 |
4,003 |
| Other assets |
7,154 |
6,301 |
| Total
assets |
$ 1,257,349 |
$ 1,336,714 |
| |
|
|
| LIABILITIES AND STOCKHOLDERS'
EQUITY |
|
|
| Deposits: |
|
|
| Noninterest-bearing |
47,331 |
33,261 |
| Interest-bearing |
768,971 |
774,373 |
| Total deposits |
816,302 |
807,634 |
| |
|
|
| Federal Home Loan Bank advances |
207,000 |
262,000 |
| Repurchase agreements |
8,000 |
58,000 |
| Other borrowings |
11,000 |
— |
| Accrued expenses and other liabilities |
9,469 |
10,056 |
| Total
liabilities |
1,051,771 |
1,137,690 |
| |
|
|
| Commitments and contingencies |
|
|
| |
|
|
| Stockholders' equity: |
|
|
| Common stock, par value $0.01
per share; 100,000,000 shares authorized; 11,444,800 shares issued
and outstanding at December 31, 2012 and 11,314,713 shares issued
and outstanding at December 31, 2011 |
114 |
113 |
| Additional paid-in capital |
106,684 |
105,637 |
| Unallocated Employee Stock
Ownership Plan ("ESOP") shares |
(8,379) |
(8,760) |
| Retained earnings |
101,877 |
96,179 |
| Accumulated other comprehensive
income |
5,282 |
5,855 |
| Total stockholders'
equity |
205,578 |
199,024 |
| Total liabilities and
stockholders' equity |
$ 1,257,349 |
$ 1,336,714 |
| |
| |
| OmniAmerican Bancorp,
Inc. and Subsidiary |
| Consolidated Statements
of Income (Unaudited) |
| (Dollars in thousands,
except per share data) |
| |
|
|
|
|
| |
|
|
|
|
| |
Three Months
Ended |
Year
Ended |
| |
December
31, |
December
31, |
| |
2012 |
2011 |
2012 |
2011 |
| Interest income: |
|
|
|
|
| Loans, including fees |
$ 9,222 |
$ 9,885 |
$ 38,361 |
$ 39,581 |
| Securities—taxable |
2,336 |
3,226 |
11,667 |
14,200 |
| Total interest income |
11,558 |
13,111 |
50,028 |
53,781 |
| Interest expense: |
|
|
|
|
| Deposits |
1,500 |
1,753 |
6,281 |
7,356 |
| Borrowed funds |
732 |
1,455 |
4,563 |
5,711 |
| Total interest expense |
2,232 |
3,208 |
10,844 |
13,067 |
| Net interest income |
9,326 |
9,903 |
39,184 |
40,714 |
| Provision for loan losses |
— |
1,680 |
1,950 |
3,230 |
| Net interest income after
provision for loan losses |
9,326 |
8,223 |
37,234 |
37,484 |
| Noninterest income: |
|
|
|
|
| Service charges and other
fees |
2,387 |
2,309 |
8,928 |
9,356 |
| Net gains on sales of
loans |
1,180 |
388 |
2,941 |
951 |
| Net gains on sales of
securities available for sale |
— |
786 |
860 |
797 |
| Net losses on sales of premises
and equipment |
(8) |
— |
(8) |
(6) |
| Net losses on sales of
repossessed assets |
(41) |
(61) |
(106) |
(452) |
| Commissions |
273 |
237 |
1,353 |
852 |
| Increase in cash surrender
value of bank-owned life insurance |
313 |
220 |
1,167 |
938 |
| Other income |
153 |
56 |
650 |
714 |
| Total noninterest income |
4,257 |
3,935 |
15,785 |
13,150 |
| Noninterest expense: |
|
|
|
|
| Salaries and benefits |
6,374 |
5,384 |
24,600 |
22,841 |
| Software and equipment
maintenance |
574 |
563 |
2,339 |
2,366 |
| Depreciation of furniture,
software and equipment |
419 |
470 |
1,740 |
2,606 |
| FDIC insurance |
195 |
231 |
830 |
1,094 |
| Net loss on write-down of other
real estate owned |
256 |
253 |
1,029 |
2,479 |
| Real estate owned expense |
75 |
90 |
210 |
477 |
| Service fees |
129 |
119 |
482 |
493 |
| Communications costs |
268 |
280 |
1,074 |
974 |
| Other operations expense |
835 |
793 |
3,131 |
3,538 |
| Occupancy |
890 |
816 |
3,808 |
3,491 |
| Professional and outside
services |
1,297 |
859 |
4,216 |
3,318 |
| Loan servicing |
152 |
192 |
357 |
503 |
| Marketing |
265 |
197 |
627 |
643 |
| Total noninterest expense |
11,729 |
10,247 |
44,443 |
44,823 |
| Income before income tax expense |
1,854 |
1,911 |
8,576 |
5,811 |
| Income tax expense |
695 |
713 |
2,878 |
1,844 |
| Net income |
$ 1,159 |
$ 1,198 |
$ 5,698 |
$ 3,967 |
| |
|
|
|
|
| Earnings per share: |
|
|
|
|
| Basic |
$ 0.11 |
$ 0.12 |
$ 0.55 |
$ 0.37 |
| Diluted |
$ 0.11 |
$ 0.12 |
$ 0.55 |
$ 0.37 |
| |
| |
| OmniAmerican Bancorp,
Inc. and Subsidiary |
| Selected Consolidated
Financial Ratios and Other Data (Unaudited) |
| (Dollars in thousands,
except per share data) |
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
At or For the
Three Months Ended |
| |
December 31, |
September 30, |
June 30, |
March 31, |
December 31, |
| |
2012 |
2012 |
2012 |
2012 |
2011 |
| Share Data: |
|
|
|
|
|
| Total shares outstanding at period end |
11,444,800 |
11,435,300 |
11,277,134 |
11,313,213 |
11,314,713 |
| Weighted average shares outstanding —
Basic |
10,349,386 |
10,338,792 |
10,327,370 |
10,325,857 |
10,371,947 |
| Weighted average shares outstanding —
Diluted |
10,467,533 |
10,420,382 |
10,388,720 |
10,352,824 |
10,382,600 |
| Basic earnings per share |
$ 0.11 |
$ 0.22 |
$ 0.14 |
$ 0.08 |
$ 0.12 |
| Diluted earnings per share |
$ 0.11 |
$ 0.22 |
$ 0.14 |
$ 0.08 |
$ 0.12 |
| Book value per share |
$ 17.96 |
$ 17.91 |
$ 17.91 |
$ 17.73 |
$ 17.59 |
| |
|
|
|
|
|
| Performance Ratios: |
|
|
|
|
|
| Return on average assets (1) |
0.36% |
0.70% |
0.42% |
0.24% |
0.37% |
| Return on average equity (1) |
2.25% |
4.50% |
2.85% |
1.60% |
2.38% |
| Noninterest expense to average total assets
(1) |
3.69% |
3.25% |
3.27% |
3.24% |
3.13% |
| Efficiency ratio (2) |
86.35% |
72.90% |
84.04% |
80.84% |
74.05% |
| |
|
|
|
|
|
| Selected Balance Sheet
Data: |
|
|
|
|
|
| Equity to total assets |
16.35% |
15.97% |
15.02% |
14.68% |
14.89% |
| |
|
|
|
|
|
| Capital Ratios: |
|
|
|
|
|
| Total capital (to risk-weighted assets) |
25.47% |
25.46% |
24.35% |
25.16% |
24.86% |
| Tier I capital (to risk-weighted assets) |
24.56% |
24.49% |
23.41% |
24.13% |
23.86% |
| Tier I capital (to total assets) |
15.67% |
15.20% |
14.22% |
13.91% |
14.18% |
| |
|
|
|
|
|
| Asset Quality Ratios: |
|
|
|
|
|
| Non-performing assets to total assets |
1.04% |
1.11% |
1.17% |
1.27% |
1.24% |
| Non-performing loans to total loans |
1.06% |
1.14% |
1.18% |
1.43% |
1.40% |
| Allowance for loan losses to non-performing
loans |
87.81% |
87.45% |
80.65% |
75.50% |
82.08% |
| Allowance for loan losses to total loans |
0.93% |
1.00% |
0.95% |
1.08% |
1.15% |
| Net charge-offs to average loans outstanding
(1) |
0.22% |
0.21% |
0.31% |
0.89% |
1.32% |
| |
|
|
|
|
|
| _______________________ |
|
|
|
|
|
| (1) Annualized. |
| (2) The efficiency ratio
represents noninterest expense divided by the sum of net interest
income and noninterest income. |
| |
| |
| OmniAmerican Bancorp,
Inc. and Subsidiary |
| Selected Consolidated
Financial Ratios and Other Data (Unaudited) |
| (Dollars in thousands,
except per share data) |
| |
|
|
|
|
|
| |
|
|
|
|
|
| |
At or For the
Three Months Ended |
| |
December 31, |
September 30, |
June 30, |
March 31, |
December 31, |
| |
2012 |
2012 |
2012 |
2012 |
2011 |
| Average Balances: |
|
|
|
|
|
| Loans |
$ 743,417 |
$ 751,068 |
$ 733,042 |
$ 704,648 |
$ 683,646 |
| Securities |
390,761 |
439,636 |
507,390 |
522,257 |
511,169 |
| Other interest-earning assets |
32,323 |
20,226 |
16,662 |
22,335 |
20,560 |
| Total interest-earning assets |
$ 1,166,501 |
$ 1,210,930 |
$ 1,257,094 |
$ 1,249,240 |
$ 1,215,375 |
| Deposits: |
|
|
|
|
|
| Interest-bearing demand |
$ 134,784 |
$ 134,473 |
$ 135,294 |
$ 132,352 |
$ 103,366 |
| Savings and money market |
334,297 |
332,969 |
337,317 |
323,221 |
320,970 |
| Certificates of deposit |
295,271 |
296,217 |
303,554 |
314,709 |
320,383 |
| FHLB advances and other borrowings |
244,927 |
293,700 |
330,438 |
323,319 |
292,943 |
| Total interest-bearing liabilities |
$ 1,009,279 |
$ 1,057,359 |
$ 1,106,603 |
$ 1,093,601 |
$ 1,037,662 |
| |
|
|
|
|
|
| Yields/Rates (1): |
|
|
|
|
|
| Loans |
4.96% |
5.19% |
5.30% |
5.49% |
5.78% |
| Securities |
2.36% |
2.47% |
2.51% |
2.57% |
2.50% |
| Other interest-earning assets |
0.41% |
0.47% |
0.60% |
0.45% |
0.53% |
| Total interest earning assets |
3.96% |
4.13% |
4.11% |
4.18% |
4.32% |
| Deposits: |
|
|
|
|
|
| Interest-bearing demand |
0.09% |
0.09% |
0.09% |
0.09% |
0.10% |
| Savings and money market |
0.19% |
0.19% |
0.19% |
0.23% |
0.25% |
| Certificates of deposit |
1.78% |
1.82% |
1.83% |
1.85% |
1.91% |
| FHLB advances and other borrowings |
1.20% |
1.34% |
1.75% |
1.74% |
1.99% |
| Total interest-bearing liabilities |
0.88% |
0.95% |
1.09% |
1.13% |
1.24% |
| |
|
|
|
|
|
| Other Data: |
|
|
|
|
|
| Interest rate spread (2) |
3.08% |
3.18% |
3.02% |
3.05% |
3.08% |
| Net interest margin (3) |
3.20% |
3.30% |
3.15% |
3.20% |
3.26% |
| |
|
|
|
|
|
| _______________________ |
|
|
|
|
|
| (1) Annualized. |
| (2) The interest rate spread
represents the difference between the weighted-average yield on
interest-earning assets and the weighted average cost of
interest-bearing liabilities for the period. |
| (3) The net interest margin
represents net interest income as a percent of average
interest-earning assets for the period. |
CONTACT: Keishi High, Investor Relations Officer
817-367-4640
Keishi.High@OmniAmerican.com
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