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Bank Of The Ozarks, Inc. Announces First Quarter 2012 Earnings

Mr. Gleason stated, “We had excellent origination volume of new loans and leases during the first quarter. Although our outstanding balance of loans and leases, excluding covered loans, increased only $8 million during the quarter, we had an increase of approximately $78 million during the quarter in our unfunded balance of closed loans. At March 31, 2012 our total unfunded balance of closed loans had increased to approximately $391 million, reflecting excellent prospects for growth in future quarters.”

Deposits were $2.93 billion at March 31, 2012 compared to $2.58 billion at March 31, 2011.

Total assets were $3.84 billion at March 31, 2012 compared to $3.33 billion at March 31, 2011.

Common stockholders’ equity was $443 million at March 31, 2012, a 32.2% increase from $335 million at March 31, 2011. Book value per common share was $12.81 at March 31, 2012, a 30.8% increase from $9.79 at March 31, 2011. Changes in common stockholders’ equity and book value per common share reflect earnings, dividends paid, stock option and stock grant transactions, and changes in the Company’s mark-to-market adjustment for unrealized gains and losses on investment securities available for sale.

The Company’s ratio of common stockholders’ equity to total assets increased to 11.54% as of March 31, 2012 compared to 10.07% as of March 31, 2011. Its ratio of tangible common stockholders’ equity to tangible total assets increased to 11.26% as of March 31, 2012 compared to 9.85% as of March 31, 2011.

NET INTEREST INCOME

Net interest income for the first quarter of 2012 increased 21.5% to $43.8 million compared to $36.1 million for the first quarter of 2011, but decreased 4.4% compared to $45.8 million for the fourth quarter of 2011. Net interest margin, on a fully taxable equivalent (“FTE”) basis, increased 37 basis points to 5.98% in the first quarter of 2012 compared to 5.61% in the first quarter of 2011, but decreased seven basis points compared to 6.05% in the fourth quarter of 2011. Average earning assets were $3.10 billion in the first quarter of 2012 compared to $2.77 billion in the first quarter of 2011 and $3.15 billion in the fourth quarter of 2011.

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