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.
OmniAmerican Bancorp, Inc. Reports Fourth Quarter And Annual 2012 Results
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