OmniAmerican Bank, the former OmniAmerican Credit Union, has announced that it will make an initial public offering of stock in the fall, according to local media reports.
The newspapers quoted bank executives supporting the move as a way to offer depositors an "opportunity to share in the ownership of the institution."
Eric Luse, a partner in the Washington, D.C. law firm of Luse, Gorman, Pomerenk and Schick said the bank looked forward to the opportunity to raise capital, provided the capital markets are in good enough shape to support a stock offering.
OmniAmerican began as Carswell Federal Credit Union in 1956, serving the personnel at nearby Carswell Air Force Base. The credit union converted to a mutual bank charter in 2005 and began operating as a bank as of Jan. 1, 2006.
Former CU to Offer Stock
Comments
Resource Center
View All »How Enterprise Software Helps Financial Services Firms Improve Efficiency and Reduce Costs
This white paper describes how enterprise software solutions, when built on a flexible and adaptable technology platform, can help financial services firms streamline workflows, consolidate...
Getting Ready for IFRS
This white paper describes how your company can make the transition to IFRS in a timely and cost efficient manner as well as what your...
