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Bank OZK (Nasdaq: OZK) is a prominent regional banking institution headquartered in Little Rock, Arkansas, with a history dating back to 1903. The bank offers a comprehensive suite of financial services and solutions across more than 240 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California, and Mississippi. With a strong focus on customer service, prudent lending practices, and sound management, Bank OZK has built a reputation for reliability and growth.
The bank’s service offerings encompass a wide range of deposit services such as checking, savings, money market accounts, time deposits, and individual retirement accounts. In addition, Bank OZK provides loan services including real estate, consumer, commercial, and industrial loans. The institution also offers advanced financial services such as treasury management, trust and wealth management, and financial planning.
One of the key differentiators of Bank OZK is its commitment to personalized customer service. The bank’s local decision-making empowers its bankers to understand and meet the specific needs of their clients effectively, fostering long-term relationships. This customer-centric approach has allowed Bank OZK to expand its footprint and continuously grow its deposit base and loan portfolio.
Financially, Bank OZK has demonstrated robust performance. For the third quarter of 2023, the bank reported a record net income available to common stockholders of $169.7 million, marking a 32.3% increase from the same quarter in the previous year. Diluted earnings per common share for the same period were a record $1.49, showcasing a 38.0% increase year-over-year. These results underscore the bank's strategic positioning and effective management amidst a dynamic economic environment.
The bank’s financial health is further highlighted by its solid asset quality and growth metrics. As of September 30, 2023, total loans stood at $25.33 billion, a 29.8% increase from the previous year, while deposits reached $25.55 billion, reflecting a 25.2% increase. Total assets amounted to $32.77 billion, demonstrating a 24.9% increase from the prior year. These figures highlight the bank’s capacity to grow its financial footprint while maintaining a strong balance sheet.
Bank OZK's management team, led by Chairman and CEO George Gleason, continues to emphasize strategic growth and innovation. The bank’s recent achievements include handling rising interest rates and market volatility effectively, which has translated into record performance metrics. Looking forward, Bank OZK aims to capitalize on new opportunities while maintaining its commitment to excellence and customer satisfaction.
For the latest updates and further information on Bank OZK's performance, events, and developments, visit their investor relations website.
Bank OZK (Nasdaq: OZK) plans to report its second quarter 2022 earnings on July 21, 2022, after market close. A conference call to discuss the earnings will take place on July 22, 2022, at 10:00 a.m. CT. The call will be accessible via webcast and telephone for registered participants. As of March 31, 2022, the Bank has total assets of $26.56 billion and operates over 240 offices across eight states. Investors can find more information on the results and the conference call on the Bank's investor relations website.
Lionheart Strategic Management has announced a $150 million funding deal with Bank OZK and Two Roads Development for a new residential project in Miami. This includes a $45 million mezzanine loan from Lionheart, supported by a $105 million senior mortgage loan from Bank OZK. The funds will aid in demolishing an existing condominium to develop an ultra-luxury residential facility in Edgewater, known for its prime waterfront views and proximity to major attractions. The project aims to enhance the area's luxury market.
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.
Bank OZK (Nasdaq: OZK) has appointed Chris Henry as Managing Director of its Trust and Wealth Group, focusing on enhancing its Trust and Wealth Management services, including Estate Planning and Administration. Chris brings over a decade of experience and previously held key positions at First Bank and Trust Company and Bank of America. His leadership is expected to align with Bank OZK's core values of honesty and transparency, aiming to provide innovative financial solutions tailored to clients’ needs. As of March 31, 2022, the bank reported total assets of over $26.56 billion.
Bank OZK (Nasdaq: OZK) reported a net income of $128.0 million for Q1 2022, a 13.7% decline from Q1 2021’s $148.4 million. Diluted earnings per share decreased by 10.5% to $1.02. The provision for credit losses was $4.2 million, contrasting with a negative provision of $31.6 million last year. Total loans rose 1.2% to $18.93 billion, but deposits fell 4.5% to $20.33 billion. The bank repurchased approximately 2.9 million shares totaling $131.6 million.
Bank OZK (Nasdaq: OZK) announced that its first quarter 2022 management comments are now accessible on its investor relations website. The bank operates more than 240 offices across eight states, including Arkansas, Georgia, and Florida. As a regional bank, Bank OZK offers innovative financial solutions and is committed to operational excellence.
Bank OZK has declared a quarterly cash dividend of $0.31 per share, marking a 3.33% increase from the previous quarter. This dividend is scheduled for payment on April 22, 2022, to shareholders on record as of April 15, 2022. Additionally, a dividend of $0.28906 per share on its Series A Preferred Stock will be payable on May 16, 2022. Bank OZK has maintained a consistent record of increasing its common stock dividend for forty-seven consecutive quarters and is included in the S&P High Yield Dividend Aristocrats index since January 2018.
Bank OZK (Nasdaq: OZK) will announce its first quarter 2022 earnings on April 21, 2022, after market closure. Management's comments and the earnings release will be available on their investor relations website. A conference call for Q&A will occur on April 22, 2022, at 10:00 a.m. CT, accessible via phone or webcast. As of December 31, 2021, Bank OZK had total assets of $26.53 billion and operates in eight states. More details can be found at www.ozk.com.
Bank OZK (Nasdaq: OZK) has released its fourth quarter and full year 2021 management comments, now available on its investor relations website. The bank operates over 240 offices across eight states, focusing on delivering innovative financial solutions through expert bankers. Investors can access detailed reports, including annual and quarterly filings with the FDIC. The bank encourages sign-ups for automated alerts about these materials. For more information, visit http://ir.ozk.com.
Bank OZK announced a strong performance for Q4 2021, with net income rising 24.3% to $149.8 million from Q4 2020. Diluted EPS reached a record $1.17, up 25.8%. For the full year, net income surged 98.4% to $579.0 million, and EPS increased 97.8% to $4.47. The bank recorded a negative provision for credit losses of $8.0 million in Q4 2021 and $77.9 million for the year. Total loans decreased by 4.7% to $18.31 billion. Deposits fell 5.8% to $20.21 billion, while total assets declined by 2.3% to $26.53 billion. The bank's strong capital position supports future growth.
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