Bank Of The Ozarks, Inc. Announces Third Quarter 2012 Earnings
Net interest income for the first nine months of 2012 was $130.6 million, a 6.3% increase from $122.9 million for the first nine months of 2011. The Company’s net interest margin (FTE) for the first nine months of 2012 was 5.93%, a 16 basis point increase from 5.77% for the first nine months of 2011. Average earning assets were $3.09 billion for the first nine months of 2012 compared to $3.01 billion in the first nine months of 2011.
NON-INTEREST INCOME
Non-interest income for the third quarter of 2012 decreased 9.8% to $14.5 million compared to $16.1 million for the third quarter of 2011. Non-interest income for the first nine months of 2012 was $44.0 million, a 57.7% decrease from $104.1 million for the first nine months of 2011. Results for the first nine months of 2011 included a pre-tax bargain purchase gain of $65.7 million on three FDIC-assisted acquisitions.
Service charges on deposit accounts increased 5.6% to a record $5.00 million in the third quarter of 2012 compared to $4.73 million in the third quarter of 2011. Service charges on deposit accounts were $14.60 million for the first nine months of 2012, an 11.0% increase from $13.16 million for the first nine months of 2011.
Mortgage lending income increased 105.2% to $1.67 million in the third quarter of 2012 compared to $0.82 million in the third quarter of 2011. Mortgage lending income was $4.10 million in the first nine months of 2012, a 92.5% increase from $2.13 million in the first nine months of 2011. Trust income for the third quarter of 2012 increased 6.8% to $0.87 million compared to $0.81 million for the third quarter of 2011, but decreased 2.6% compared to $0.89 million for the second quarter of 2012. Trust income was $2.53 million in the first nine months of 2012, a 5.5% increase from $2.40 million in the first nine months of 2011.Select the service that is right for you!
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