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The $9.3 billion-asset Bank of the Ozarks said in a press release Monday that it will pay $402.5 million, or $25 a share, in stock for the $1.7 billion-asset C1 Financial.
November 9 -
Bank of the Ozarks in Little Rock, Ark., is set to catapult over $10 billion in assets after agreeing to buy Community & Southern Holdings in Atlanta.
October 19 -
Bank of the Ozarks could raise more capital, especially if a rising number of unfunded loans convert to funded credits. Management is also keeping an eye on credit quality, raising certain standards and selling some syndicated loans.
April 15
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.
