This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

2 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs