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 Third Quarter 2012 Earnings

The Company’s efficiency ratio for the quarter ended September 30, 2012 was 47.0% compared to 50.8% for the third quarter of 2011 and 45.4% for the second quarter of 2012.

Non-interest expense for the first nine months of 2012 was $84.6 million, a 9.2% decrease from $93.2 million for the first nine months of 2011. Non-interest expense for the first nine months of 2011 included pre-tax acquisition and conversion costs related to FDIC-assisted acquisitions of approximately $5.5 million. There were no acquisition and conversion costs included in the Company’s results for the first nine months of 2012.

The Company’s efficiency ratio for the first nine months of 2012 was 46.7% compared to 39.9% for the first nine months of 2011.

ASSET QUALITY, CHARGE-OFFS AND ALLOWANCE

Loans, repossessions and foreclosed assets covered by FDIC loss share agreements, along with the related FDIC loss share receivable, are presented in the Company’s financial reports with a carrying value equal to the net present value of expected future proceeds. At September 30, 2012, the carrying value of covered loans was $653 million, foreclosed assets covered by loss share was $58 million and the FDIC loss share receivable was $175 million. At September 30, 2011, the carrying value of covered loans was $860 million, foreclosed assets covered by loss share was $73 million and the FDIC loss share receivable was $324 million.

Excluding covered loans, nonperforming loans and leases as a percent of total loans and leases improved to 0.44% as of September 30, 2012 compared to 1.22% as of September 30, 2011 and 0.50% as of June 30, 2012.

Excluding covered loans and foreclosed assets covered by loss share, nonperforming assets as a percent of total assets improved to 0.59% as of September 30, 2012 compared to 1.45% as of September 30, 2011 and 0.63% as of June 30, 2012.

5 of 9

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 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs