Bank Of The Ozarks, Inc. Announces Fourth Quarter And Full Year 2012 Earnings

The Company’s annualized returns on average assets and average common stockholders’ equity for the fourth quarter of 2012 were 2.15% and 16.99%, respectively, compared to 1.80% and 16.80%, respectively, for the fourth quarter of 2011. Returns on average assets and average common stockholders’ equity for the full year of 2012 were 2.04% and 16.80%, respectively, compared to 2.70% and 27.04%, respectively, for 2011.

In commenting on these results, George Gleason, Chairman and Chief Executive Officer, stated, “The quarter just ended was an excellent conclusion to an excellent year. On the last day of the year, we closed our first traditional acquisition since 2003. This was our eighth acquisition, including FDIC-assisted transactions, in the past three years. Our fourth quarter loan and lease growth, even excluding loans acquired in acquisitions, was one of our best ever. For the full year of 2012, our loans and leases, excluding loans acquired in acquisitions, grew $235 million. Our strong organic loan and lease growth, combined with our excellent net interest margin, good efficiency ratio and favorable asset quality, made for a great finish to 2012 and position us well for the future.”

Loans and leases, excluding loans covered by FDIC loss share agreements (“covered loans”) and purchased loans not covered by loss share (“purchased non-covered loans”), were $2.12 billion at December 31, 2012, a 12.5% increase from $1.88 billion at December 31, 2011. Including covered loans and purchased non-covered loans, total loans and leases were $2.75 billion at December 31, 2012, a 2.3% increase from $2.69 billion at December 31, 2011.

Mr. Gleason stated, “Our balance of loans and leases outstanding, excluding covered loans and purchased non-covered loans, increased $85 million in the quarter just ended and $235 million for the full year of 2012. Our unfunded balance of closed loans increased $72 million during the fourth quarter and $456 million for the full year of 2012, growing from $313 million at December 31, 2011 to $769 million at December 31, 2012. This significant increase in our unfunded balance of closed loans has favorable implications for future growth in our balance of loans and leases outstanding.”

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