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Dallas Business Journal: OmniAmerican to Lay Off 24, Stop Making Car Loans through Dealers
Friday, October 11, 2013 6:50 AM

In an effort to cut costs, OmniAmerican Bank (Formerly OmniAmerican CU before converting to a bank in 2005) said Wednesday that it will lay off 24 employees and stop making auto loans through car dealers.

In documents filed with the Securities and Exchange Commission, OmniAmerican said the move would allow it to concentrate on its commercial, direct retail and mortgage areas.

Auto loans reportedly comprise about 30 percent of its portfolio, and the layoffs will reportedly affect roughly 8 percent of OmniAmerican's 307 employees.

 

(Source: Dallas Business Journal)