OmniAmerican Bancorp, the newly-created holding company for Fort Worth-based OmniAmerican Bank, was excited to announce this morning that it has begun trading on the NASDAQ Global Market following the closure of an initial public offering that closed at the adjusted maximum of the offering range and generated gross proceeds of $119,025,000.
“The overwhelming response to our initial public offering has been very encouraging and, in light of the current economic conditions, is a testament to the faith that our members have in the OmniAmerican leadership team,” stated Tim Carter, president and CEO of OmniAmerican Bank. “We are excited to provide our depositors a chance to share in the ownership of our institution and look forward to using this revenue to grow and create new opportunities for customers and employees.”
Members of OmniAmerican Bank approved a Plan of Conversion earlier this month, allowing the Bank to proceed with the conversion and stock offering. OmniAmerican Bancorp’s initial subscription offering sold 11,902,500 shares of common stock at $10.00 per share to eligible account holders, depositors as of March 31, 2008, of OmniAmerican Bank.
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