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 Fourth Quarter And Full Year 2012 Earnings

Other loss share income was $3.19 million in the fourth quarter of 2012, an increase of 112.8% from $1.50 million in the fourth quarter of 2011. Other loss share income was $10.64 million in the full year of 2012, an increase of 65.5% from $6.43 million in 2011.

Net gains on sales of other assets were $2.43 million in the fourth quarter of 2012 compared to $0.90 million in the fourth quarter of 2011. Net gains on sales of other assets were $6.81 million for the full year of 2012 compared to $3.74 million in 2011. The net gains on sales of other assets in each of these periods were primarily due to net gains on sales of foreclosed assets covered by FDIC loss share agreements.

The Company had net gains on investment securities of $0.05 million in the fourth quarter of 2012 compared to net losses of $0.06 million in the fourth quarter of 2011. Net gains on investment securities were $0.46 million for the full year of 2012 compared to $0.93 million in 2011.

NON-INTEREST EXPENSE

Non-interest expense for the fourth quarter of 2012 was $29.9 million, an increase of 1.9% from $29.3 million for the fourth quarter of 2011. Non-interest expense for the fourth quarter of 2012 included pre-tax acquisition and conversion costs of approximately $0.6 million related to the Genala acquisition. Non-interest expense for the fourth quarter of 2011 included pre-tax acquisition and conversion costs related to FDIC-assisted acquisitions of approximately $0.8 million.

The Company’s efficiency ratio for the fourth quarter of 2012 was 46.3% compared to 48.1% for the fourth quarter of 2011.

Non-interest expense for the full year of 2012 was $114.5 million, a decrease of 6.6% from $122.5 million for 2011. Non-interest expense for 2012 included pre-tax acquisition and conversion costs of approximately $0.6 million related to the Genala acquisition. Non-interest expense for 2011 included pre-tax acquisition and conversion costs related to FDIC-assisted acquisitions of approximately $6.3 million.

5 of 11

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 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs