Fort Worth Business Press, June 2, 2014 Vol. 26, No. 17

Fort Worth\r\n\r\nFort Worth Business Press\r\n\r\nMay 5 - May 11, 2014\r\n\r\nVol. 26, No. 17 • $3.00\r\n\r\nToyota\r\nheads\r\nto Texas\r\n\r\nbuilding A\r\n\r\nbigger\r\nbank\r\n\r\nSam Dawson\r\nSouthside Bank CEO\r\n\r\nOmniAmerican, Southside to merge\r\ninto ninth-largest bank HQ’d in Texas\r\nBetty Dillard\r\n\r\nn\r\n\r\[email protected]\r\n\r\nA\r\n\r\nttracted by a strong local economy, Southside Bancshares\r\nInc., parent company of Tyler-based Southside Bank,\r\nannounced April 29 that it will acquire OmniAmerican\r\nBancorp Inc., the holding company for OmniAmerican Bank\r\nof Fort Worth, in a deal valued at about $307 million.\r\nThe merger has been unanimously approved by the boards\r\nof directors of both companies and is expected to close\r\nduring fourth quarter 2014. The combined company will have\r\nnearly $5 billion in assets and become the ninth-largest bank\r\nheadquartered in Texas, by deposits.\r\nSee merger u 21\r\n\r\nTim Carter\r\nOmniAmerican\r\nBank CEO\r\n\r\nOMNIAMERICAN BANK:\r\n\r\nSOUTHSIDE BANK:\r\n\r\nListed on NASDAQ\r\nunder “OABC”\r\n\r\nListed on NASDAQ\r\nunder “SBSI”\r\n\r\nOMNIAMERICAN BANK:\r\nOMNIAMERICAN\r\nBANK:\r\n\r\n$1.39 billion\r\nin assets as of\r\nDec. 31, 2013\r\n\r\nSOUTHSIDE BANK:\r\n\r\n$3.4 billion\r\nin assets as of\r\nDec. 31, 2013\r\n\r\nSOUTHSIDE\r\nBANK:\r\n\r\nFounded in\r\nTyler in\r\nFounded in\r\nFort Worth in\r\n\r\n1956\r\n\r\nOMNIAMERICAN BANK:\r\n\r\n14 fullservice\r\nbranches\r\n\r\nSOUTHSIDE BANK:\r\n\r\n1960\r\n\r\n50 banking\r\ncenters and 49\r\nATMs in D-FW area\r\n\r\nin D-FW area\r\n\r\nCombined: $5 billion in assets\r\n\r\nLone Star State becoming\r\nmanufacturing powerhouse\r\nn Dave Montgomery\r\nAustin correspondent\r\n\r\nAfter bagging Toyota’s 4,000-employee\r\nNorth American headquarters and being\r\npicked as one of four states competing\r\nfor a $5 billion Tesla “gigafactory,” Texas\r\nboosters are asserting the Lone Star\r\nState’s emergence as a major player in the\r\nAmerican auto industry.\r\nEven before Toyota’s bombshell\r\nannouncement April 28 that it was moving\r\nits corporate nerve-center from California\r\nto the Dallas-Fort Worth Metroplex,\r\nthe second-largest state already ranked\r\nNo. 6 for automotive manufacturing\r\nemployment, with 476 automotive\r\nmanufacturing firms employing 33,800plus workers, according to a 2013 report\r\nfrom the governor’s office.\r\nAt the 60-year-old General Motors\r\nplant in Arlington, a new SUV rolls off the\r\nassembly line every minute.\r\nDown the Interstate-35 corridor,\r\nToyota workers build Tundra and Tacoma\r\npickups in a 2,000-acre plant in south San\r\nAntonio.\r\nIn Denton, heavy-duty trucks roll out\r\nof a Peterbilt Motors plant, the county’s\r\nlargest employer. And across Texas, shops\r\nand factories make components ranging\r\nfrom plastic emission detectors to tires\r\nand windshield wipers.\r\n“We are starting to reach the point\r\nwhere Texas is a center for the automotive\r\nindustry,” says economist Ray Perryman,\r\npresident of the Perryman Group in Waco.\r\nThe Toyota coup, which has been hailed\r\nas one of the most significant corporate\r\nrelocations in years, was a major victory\r\nfor Gov. Rick Perry and could bolster his\r\nprospects for a second presidential run in\r\n2016.\r\nA $400 million incentive from the\r\ngovernor’s Texas Enterprise Fund helped\r\nconvince the world’s largest auto dealer\r\nto move its headquarters from Torrance,\r\nCalif., to Plano, just north of Dallas.\r\nSee toyota u 20\r\n\r\neurope in westlake\r\n\r\nDevelopment importing European aesthetic. P10\r\n\r\n