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Bank of the Ozarks (OZRK) in Little Rock, Ark., is encouraging shareholders to support its proposal to more than double its authorized common stock.
May 8 -
Bank of the Ozarks recently overhauled how it awards bonuses after a big dip in shareholder approval, showing how much weight some banks place on the nonbinding measures and how proxy-advisors can swing the vote.
June 30 -
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 Texas of Bancshares.
April 15 -
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.
March 6 -
Bank of the Ozarks (OZRK) of Little Rock, Ark., has agreed to buy Summit Bancorp in Arkadelphia, Ark.
January 30
Shares of Bank of the Ozarks (OZRK) rose in early trading Tuesday after the Little Rock, Ark., company reported a 30% increase in its second-quarter profit.
Fueled by loan and deposit gains from recent acquisitions, Bank of the Ozarks reported earnings of $26.5 million in the quarter that ended June 30, up from $20.4 million in the same period a year earlier.
The bank's shares were trading at $33.78 mid-morning Tuesday, up 2.6% from Monday's close.
Bank of the Ozarks has completed three acquisitions over the last four quarters, boosting its assets by 56%, to $6.3 billion. Total loans increased 55% year over, to $4.6 billion, while deposits climbed 67%, to $5 billion.
The increase in loans and leases helped fuel a 49% jump in net interest income, to $64.8 million and a 6-basis-point jump in its net interest margin, to 5.62%.
Noninterest income declined 8.4%, to about $17.4 million, due primarily to a decline in gains on sales of assets. Meanwhile, noninterest expenses increased 17.6%, to almost $37.9, due largely to higher operating costs associated with the acquisitions.
