Bank of the Ozarks in Little Rock, Ark., which has made 15 bank deals since 2010, has raised $110 million in an offering of its common stock.
The $9.3 billion-asset bank plans to use the proceeds of the sale for general corporate purposes, including a capital contribution to support its growth in nonpurchased loans and leases, according to a Tuesday news release.
Bank of the Ozarks sold 2 million shares, for $52.42 each, to existing shareholders and institutional investors. Gross proceeds were $110 million before expenses, which were about $25,000.
The bank did not work with an underwriter or placement agent for the offering. Kutak Rock was legal adviser.