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

The Company’s net charge-offs for the first six months of 2012 decreased to $6.4 million compared to $7.1 million for the first six months of 2011. The Company’s net charge-offs for the first six months of 2012 included $3.0 million for non-covered loans and leases and $3.4 million for covered loans. The Company’s net charge-offs for the first six months of 2011 included $7.1 million for non-covered loans and leases and none for covered loans.

The Company’s annualized net charge-off ratio for its non-covered loans and leases improved to 0.31% for the first six months of 2012 compared to 0.79% for the first six months of 2011. The Company’s annualized net charge-off ratio for all loans and leases, including covered loans, improved to 0.49% for the first six months of 2012 compared to 0.57% for the first six months of 2011.

For the second quarter of 2012, the Company’s provision for loan and lease losses decreased to $3.1 million, which included $1.1 million for non-covered loans and leases and $2.0 million for covered loans. For the second quarter of 2011, the Company’s provision for loan and lease losses was $3.8 million, all of which was for non-covered loans and leases. For the first six months of 2012, the Company’s provision for loan and lease losses increased to $6.1 million, which included $2.7 million for non-covered loans and leases and $3.4 million for covered loans. For the first six months of 2011, the Company’s provision for loan and lease losses was $6.0 million, all of which was for non-covered loans and leases.

The Company’s allowance for loan and lease losses was $38.9 million, or 1.96% of total non-covered loans and leases at June 30, 2012, compared to $39.1 million, or 2.17% of total non-covered loans and leases at June 30, 2011, and $38.6 million, or 2.04% of total non-covered loans and leases at March 31, 2012. The Company had no allowance for covered loans at June 30, 2012 or 2011 or March 31, 2012.

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