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.
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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.
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