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

Loans and leases, excluding loans covered by FDIC loss share agreements (“covered loans”), were $2.03 billion at September 30, 2012, a 9.1% increase compared to $1.86 billion at September 30, 2011. Including covered loans, total loans and leases were $2.69 billion at September 30, 2012, a 1.4% decrease from $2.72 billion at September 30, 2011.

Mr. Gleason stated, “During the quarter just ended, our balance of loans and leases outstanding, excluding covered loans, increased $51 million, and our unfunded balance of closed loans increased $143 million from $554 million at June 30, 2012 to $697 million at September 30, 2012. The 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 $2.89 billion at September 30, 2012, a 5.1% decrease compared to $3.05 billion at September 30, 2011.

Total assets were $3.82 billion at September 30, 2012, a 2.8% decrease compared to $3.93 billion at September 30, 2011.

Common stockholders’ equity was $478 million at September 30, 2012, a 17.4% increase from $407 million at September 30, 2011. Book value per common share was $13.78 at September 30, 2012, a 16.1% increase from $11.87 at September 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.

The Company’s ratio of common stockholders’ equity to total assets increased to 12.50% as of September 30, 2012, compared to 10.35% as of September 30, 2011. Its ratio of tangible common stockholders’ equity to tangible total assets increased to 12.25% as of September 30, 2012 compared to 10.06% as of September 30, 2011.

NET INTEREST INCOME

Net interest income for the third quarter of 2012 increased 0.2% to $44.4 million compared to $44.3 million for the third quarter of 2011 and increased 5.1% compared to $42.3 million in the second quarter of 2012. Net interest margin, on a fully taxable equivalent (“FTE”) basis, increased seven basis points to 5.97% in the third quarter of 2012 compared to 5.90% in the third quarter of 2011, and increased 13 basis points compared to 5.84% in the second quarter of 2012. Average earning assets were $3.10 billion in the third quarter of 2012 compared to $3.13 billion in the third quarter of 2011 and $3.06 billion in the second quarter of 2012.

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