Bank OZK Completes Construction of Solar Power Plant in Arkansas

Rhea-AI Summary

Bank OZK has completed its 4.8-megawatt solar power plant in Stuttgart, Arkansas, which will generate electricity for its new corporate headquarters and up to 40 locations in central Arkansas. This facility, featuring 11,265 solar panels, is one of Arkansas's largest commercial solar projects for a private sector client. The initiative aims to reduce the bank's carbon footprint by an estimated 160,000 tons of CO2 over the next 30 years. Tim Hicks, Chief Credit and Administrative Officer, emphasized the bank's commitment to sustainability and leadership in the financial sector.

Positive

• Completion of a 4.8-megawatt solar power plant enhancing sustainability efforts.
• Reduction of the bank's carbon footprint by an estimated 160,000 tons of CO2 over 30 years.
• Supports electricity needs for the corporate headquarters and 40 locations.

Negative

• None.

Plant to Power Corporate Headquarters and up to 40 Central Arkansas Locations

LITTLE ROCK, Ark., May 12, 2022 (GLOBE NEWSWIRE) -- As part of its sustainable energy initiatives, Bank OZK (Nasdaq: OZK) (the “Bank”) has finished construction of its recently announced 4.8-megawatt solar power plant in Stuttgart, Arkansas. The 11,265 solar panel array will produce enough electricity to power the Bank’s new corporate headquarters in Little Rock and up to 40 Bank OZK locations throughout central Arkansas. Currently, it is among the state’s largest commercial solar facilities dedicated to a private sector customer.

“After several months of construction, Bank OZK is pleased to announce that our solar power plant is fully operational,” said Tim Hicks, Chief Credit and Administrative Officer. “By shrinking our carbon footprint and offsetting our electricity usage, Bank OZK continues its commitment to the environment with this new source of clean and sustainable energy. The solar plant is another great example of how Bank OZK is a leader in the financial services sector.”

This solar panel array is expected to significantly shrink the Bank’s carbon footprint by an estimated 160,000 tons of carbon dioxide over the next 30 years, equivalent to the emissions of over 390 million passenger car miles.

Scenic Hill Solar, LLC, of Little Rock, Arkansas, managed construction of the solar power project for the Bank.

General Information

Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence. Established in 1903, Bank OZK conducts banking operations with over 240 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California and Mississippi and had $26.56 billion in total assets as of March 31, 2022. Bank OZK can be found at www.ozk.com and on Facebook, Twitter and LinkedIn or contacted at (501) 978-2265 or P.O. Box 8811, Little Rock, Arkansas 72231-8811. Member F.D.I.C.

The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html and are also available on the Bank’s investor relations website at ir.ozk.com. To receive automated email alerts for these materials please visit https://ir.ozk.com/other/email-notification/default.aspx to sign up.

Media Contact:
Candace Graham, EVP, Director
Corporate Communications
501-320-4165

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a671166d-2b04-44a5-ab38-e461fc3983b5

FAQ

What is the significance of Bank OZK's solar power plant?

The solar power plant signifies Bank OZK's commitment to sustainability and aims to reduce its carbon footprint by approximately 160,000 tons of CO2 over 30 years.

Where is Bank OZK's solar power plant located?

The solar power plant is located in Stuttgart, Arkansas.

How many locations will benefit from the solar power plant?

The solar power plant will provide electricity to the corporate headquarters and up to 40 Bank OZK locations across central Arkansas.

What are the environmental benefits of Bank OZK's solar initiative?

The initiative is expected to significantly reduce carbon emissions, equivalent to over 390 million passenger car miles, thus contributing to cleaner energy efforts.

What is the size of the solar array at Bank OZK's facility?

The solar array consists of 11,265 solar panels.