Securities available for sale increased $152.0 million, or 72.2 percent, to $362.4 million at September 30, 2010 from $210.4 million at December 31, 2009, as we invested the proceeds of our initial public stock offering and cash generated through operations in securities classified as available for sale. The increase in securities available for sale resulted from the purchase of $231.4 million of government-sponsored mortgage backed securities, government-sponsored collateralized mortgage obligations and agency securities, partially offset by principal repayments, maturities and calls of $79.9 million and sales of $1.7 million.Loans, net of the allowance for loan losses and deferred fees and discounts, decreased $30.5 million, or 4.4 percent, to $667.6 million at September 30, 2010 from $698.1 million at December 31, 2009, primarily due to a $19.6 million decrease in automobile loans, a $6.9 million decrease in commercial real estate loans, a $6.4 million decrease in commercial business loans and a $5.6 million decrease in real estate construction loans. One- to four-family residential mortgage loans increased $9.1 million as $94.6 million in originations of one- to four-family residential mortgage loans were partially offset by loan sales of $45.5 million, loan repayments of $37.2 million and a $2.9 million reclassification to other real estate owned.
OmniAmerican Bancorp, Inc. Announces Third Quarter 2010 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.