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Buyers in Texas show little interest in strugglers like Omnibank in Houston, leaving the door open for a buyer like Bank of the Ozarks from Arkansas that knows how to acquire and fix broken banks.
December 11 -
Bank of the Ozarks (OZRK) in Little Rock, Ark., got an earnings boost ahead of its acquisition of a Houston bank.
January 17 -
Bank of the Ozarks (OZRK), HomeTrust Bancshares (HTBI), Glacier Bancorp (GCBI) and Central Valley Community Bancorp (CVCY) all announced deal completions Wednesday.
August 1
Bank of the Ozarks (OZRK) on Wednesday finalized the cash acquisition of Bancshares in Houston, as well as its wholly-owned subsidiary Omnibank, for $21.5 million.
The transaction is expected to be accretive to diluted earnings per share.
The merger enables Bank of the Ozarks to add seven former Bancshares offices in South Texas, including three in Houston, one each in Austin and San Antonio, and one each in the Austin suburbs of Cedar Park and Lockhart.
Based in in Little Rock, Ark., Bank of the Ozarks currently has $4.8 billion-asset and 21 Texas branches.
Julie Cripe, a 34-year banking industry veteran, was named South Texas division president for Bank of the Ozarks where she will oversee the region's banking operations.
"Our new offices combined with the presence we've built for over a decade in Texas will position us to further capitalize on the state's excellent growth opportunities," said George Gleason, chairman and chief executive officer for Bank of the Ozarks, in a news release.
In January, Bank of the Ozarks
