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

In commenting on these results, George Gleason, Chairman and Chief Executive Officer, stated, “We are very pleased to report our excellent results for the quarter just ended. As we had expected, growth in non-covered loans and leases was robust. Asset quality, which has been one of our traditional strengths, got even better as evidenced by improvement in our asset quality ratios to the best levels in four years. Our net interest margin continued to be among the best in the industry. We had excellent results in almost every category of non-interest income, and our non-interest expense declined for the fourth consecutive quarter. Even more important, we believe we are well positioned for future growth and profitability.”

Loans and leases, excluding loans covered by FDIC loss share agreements (“covered loans”), were $1.98 billion at June 30, 2012, a 10.0% increase compared to $1.80 billion at June 30, 2011. Including covered loans, total loans and leases were $2.69 billion at June 30, 2012, a 0.4% decrease from $2.70 billion at June 30, 2011.

Mr. Gleason stated, “During the quarter just ended, our balance of loans and leases outstanding, excluding covered loans, increased $89 million, and our unfunded balance of closed loans increased $163 million from $391 million at March 31, 2012 to $554 million at June 30, 2012. The significant increase in our unfunded balance of closed loans has favorable implications for further growth in the balance of loans and leases outstanding in future quarters.”

Deposits were $2.81 billion at June 30, 2012, an 11.4% decrease compared to $3.17 billion at June 30, 2011.

Total assets were $3.76 billion at June 30, 2012, a 6.5% decrease compared to $4.03 billion at June 30, 2011.

Common stockholders’ equity was $460 million at June 30, 2012, a 19.2% increase from $386 million at June 30, 2011. Book value per common share was $13.29 at June 30, 2012, a 17.9% increase from $11.27 at June 30, 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.

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