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

Excluding covered loans, the Company’s ratio of loans and leases past due 30 days or more, including past due non-accrual loans and leases, to total loans and leases improved to 0.86% as of March 31, 2012 compared to 2.19% as of March 31, 2011 and 1.56% as of December 31, 2011.

The Company’s net charge-offs for the first quarter of 2012 were $3.6 million compared to $3.3 million for the first quarter of 2011 and $4.2 million for the fourth quarter of 2011. The Company’s net charge-offs for the first quarter of 2012 included $2.1 million for non-covered loans and leases and $1.5 million for covered loans. The Company’s net charge-offs for the first quarter of 2011 included $3.3 million for non-covered loans and leases and none for covered loans. The Company’s net charge-offs for the fourth quarter of 2011 included $3.9 million for non-covered loans and leases and $0.3 million for covered loans. Net charge-offs for covered loans are reported net of applicable FDIC loss share receivable amounts.

The Company’s annualized net charge-off ratio for its non-covered loans and leases improved to 0.44% for the first quarter of 2012 compared to 0.72% for the first quarter of 2011 and 0.84% for the fourth quarter of 2011. The Company’s annualized net charge-off ratio for all loans and leases, including covered loans, was 0.55% for both the first quarter of 2012 and the first quarter of 2011 and 0.62% for the fourth quarter of 2011.

For the first quarter of 2012, the Company’s provision for loan and lease losses was $3.1 million, including $1.6 million for non-covered loans and leases and $1.5 million for covered loans, compared to $2.3 million for non-covered loans and leases and no provision for covered loans in the first quarter of 2011, and compared to $4.0 million for non-covered loans and leases and $0.3 million for covered loans in the fourth quarter of 2011.

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