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OABC > SEC Filings for OABC > Form 8-K on 9-Oct-2013All Recent SEC Filings

Show all filings for OMNIAMERICAN BANCORP, INC.

Form 8-K for OMNIAMERICAN BANCORP, INC.


9-Oct-2013

Costs Associated with Exit or Disposal Activities


Item 2.05 Costs Associated with Exit or Disposal Activities
On October 9, 2013, OmniAmerican Bancorp, Inc. (the "Company") announced its plan to discontinue the purchase of auto loans originated through auto dealerships in order to strengthen the Company's focus on its commercial, direct retail and mortgage strategies. The Company expects to record charges of approximately $80,000 in employee separation expense during the fourth quarter of 2013 related to exiting the indirect auto lending business.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers On October 9, 2013, the Company announced that it will eliminate the position of Senior Executive Vice President and Chief Operating Officer in connection with organizational changes aimed at reducing costs and improving earnings. As a result, the employment of Terry M. Almon with the Company will terminate on October 9, 2013.
Item 9.01 Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired: None

(b) Pro Forma Financial Information: None

(c) Shell company transactions: None

(d) Exhibits:

Exhibit Number Description
99.1 Press Release dated October 9, 2013


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