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Bank of the Ozarks (OZRK) of Little Rock, Ark., has agreed to buy Summit Bancorp in Arkadelphia, Ark.
January 30 -
Bank of the Ozarks (OZRK) in Little Rock, Ark., got an earnings boost ahead of its acquisition of a Houston bank.
January 17 -
The longtime chief operating officer at Bank of the Ozarks (OZRK) in Little Rock, Ark., is retiring.
August 26
Bank of the Ozarks (OZRK) in Little Rock, Ark., said that its first-quarter earnings climbed 26% from the same period last year, to $25.3 million, thanks largely to strong loan growth and an accounting gain stemming from its March acquisition of Bancshares Inc. in Houston.
Earnings per common share climbed 21% year over year, to 65 cents, but fell a penny short of consensus estimates, according to analysts polled by Bloomberg.
Bank of the Ozarks said that net interest income grew 18.7% year over year, to $52.4 million, as average earning assets increased 27%, to $4 billion in the first quarter, and total loans and leases rose nearly 31%, to $3.6 billion. Overall assets increased 23%, to $4.8 billion.
The bank's net interest margin fell by 37 basis points to 5.46%.
Noninterest income jumped 25%, to $20.4 million, due in large part to a tax-exempt bargain purchase gain of $4.7 million related to the
Noninterest expenses rose to $37.5 million, up 28% from a year earlier due to elevated salaries and employee benefits.
