OmniAmerican Bancorp Q2 Profit Plunges - Quick Facts

(RTTNews) - OmniAmerican Bancorp, Inc. (OABC), the holding company for OmniAmerican Bank, Friday reported a sharp decline in second-quarter profit, hit by a provision for bad loans.

Net income for the second quarter fell to $674 thousand from $1.44 million in the previous year. Earnings per share were lower at $0.06 compared to $0.14 last year.

Total interest income dropped to $11.38 million from $12.92 million in the prior year. Net interest income was $9.43 million compared to $9.9 million last year.

Provision for loan losses totaled $1.1 million. The lender recorded no such provision last year.