Omni National Bank is the 21st bank failure of 2009

March 27, 2009 by · Leave a Comment
Filed under: Bank Failure 

They went under with almost $1 billion in assets.  They must of  had a lot of bad loans and other assets on their books for the FDIC to come in and shut them down.  I wish they would be more open about what the “unsound” practices they were using so the public could be more educated.

News (Reuters):

Georgia-based Omni National Bank was seized on Friday and placed into receivership under the Federal Deposit Insurance Corp, the U.S. government said on Friday.

The bank had about $980 million in assets at the end of 2008, the Office of the Comptroller of the Currency said in a statement.

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Omni National Bank REOs

July 19, 2008 by · Leave a Comment
Filed under: Regional REO Banks 

According to their website, Omni National Bank is a national bank with 10 full service branches.  Under our definition, Omni would be considered a regional bank and I would suspect they only have charters to operate in the areas mentioned on their website: We have four full service banking locations in North Carolina; two in Georgia; one in Chicago, Illinois; one in Tampa, Florida; one in Dallas,Texas; and one in Houston, Texas.

On to the REOs, they have a very simple REO listing presentation.  Currently they list 8 states for REOs .  Only 5 states have listings that are available online and for Atlanta REOs you need to use their form to submit your information so a bank representative can contact you.  They did however add a link to Google maps so you can quickly  see where the property is located compared to the surrounding metropolitan center.

Bank Info:

Founded in March 1976, Omni National Bank is headquartered in Atlanta, Georgia. We are a subsidiary of Omni Financial Services, Inc., a publicly traded bank holding company.  Omni Financial Services, Inc.’s common stock is traded on the NASDAQ Global Market under the ticker symbol “OFSI.”


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