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

Bank of the Ozarks, Inc. (NASDAQ: OZRK) today announced that net income for the quarter ended June 30, 2012 was $19.1 million, a 62.0% decrease from $50.2 million for the second quarter of 2011. Diluted earnings per common share for the second quarter of 2012 were $0.55, a 62.3% decrease from $1.46 for the second quarter of 2011.

For the six months ended June 30, 2012, net income totaled $37.1 million, a 42.8% decrease from net income of $64.8 million for the first six months of 2011. Diluted earnings per common share for the first six months of 2012 were $1.06, a 43.6% decrease from $1.88 for the first six months of 2011.

The Company made no FDIC-assisted acquisitions during the first six months of 2012, and its results for the second quarter and first six months of 2012 did not include any bargain purchase gains or any acquisition or conversion costs related to its seven previous FDIC-assisted acquisitions. The Company’s results for the second quarter of 2011 included two FDIC-assisted acquisitions which resulted in a gain, net of acquisition and conversion costs, of approximately $36.4 million after taxes, or approximately $1.06 of diluted earnings per common share. The Company’s results for the first six months of 2011 included three FDIC-assisted acquisitions which resulted in a gain, net of acquisition and conversion costs, of approximately $37.3 million after taxes, or approximately $1.09 of diluted earnings per common share.

On August 16, 2011 the Company completed a 2-for-1 stock split, in the form of a stock dividend, effected by issuing one share of common stock for each share of such stock outstanding on August 5, 2011. All share and per share information contained in this release has been adjusted to give effect to this stock split.

The Company’s annualized returns on average assets and average common stockholders’ equity for the second quarter of 2012 were 2.04% and 17.07%, respectively, compared to 5.24% and 55.88%, respectively, for the second quarter of 2011. Annualized returns on average assets and average common stockholders’ equity for the first six months of 2012 were 1.97% and 16.91%, respectively, compared to 3.63% and 38.05%, respectively, for the first six months of 2011.

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