OmniAmerican Bank of Fort Worth said it will trim overhead by laying off 35 employees, or about 8% of its work force.
"This adjustment puts OmniAmerican back at the right size to achieve our profitability objectives, making us more nimble and better positioned to continue building on our 50-year heritage of exceptional service for local customers," Tim Carter, its chief executive officer, said in a press release Thursday.
The $980 million-asset OmniAmerican converted from a credit union to a savings bank in January of last year. It turned a profit in the first quarter of that year but has not made money since. It lost about $1 million last year and roughly $1.2 million in the first half of this year, according to the Federal Deposit Insurance Corp.
OmniAmerican announced early this year that it was going public, but Mr. Carter has said those plans are on hold until the bank is profitable again.
