Bank OZK

Bank OZK
	Bank OZK Headquarters in Little Rock, Arkansas
Company type	Public
Traded as	Nasdaq: OZK; S&P 400 Component
Industry	Financial services
Founded	1903; 122 years ago, in Jasper, Arkansas, US
Headquarters	Little Rock, Arkansas, U.S.
Key people	George G. Gleason II (chairman, CEO); Tim Hicks (CFO)
Products	Retail Banking; Commercial Banking; Treasury
Revenue	US$ 2.25 billion (2023)
Operating income	US$867.0 million (2023)
Net income	US$690.8 million (2023)
Total assets	US$34.24 billion (2023)
Total equity	US$5.14 billion (2023)
Owner	George G. Gleason II (over 10%)
Number of employees	2,744 (2023)
Website	ozk.com
	Footnotes / references;

Bank OZK is a regional bank headquartered in Little Rock, Arkansas. It operates 240 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, California, Tennessee and Mississippi.

Contrary to most other large banks, the bank does not syndicate its commercial real estate loans.^[2]

History

Bank OZK began as a community bank in Jasper, Arkansas in 1903, expanding to a second location in Ozark, Arkansas in 1937.^[3]

In 1979, when the bank had 2 branches and $28 million in assets, George Gleason, a 25-year-old lawyer at the Rose Law Firm, bought the bank changed its name to Bank of the Ozarks.^[4]

In 1994, the bank had five locations but began expanding. The headquarters was moved to Little Rock in 1995.^[3]

In December 2008, the bank moved into a 92,000-square-foot four-story headquarters; in 2018 it began construction on a new 180,000 square foot headquarters at a $98 million cost.^[5]

In 2018, the name of the bank was changed to Bank OZK to reflect its expansion from the Ozarks.^[6]

Acquisitions

#	Year	Company	Price	Description of Assets	Ref(s).
1	January 2003	River Valley Bank (RVB) of Russellville, Arkansas		$53 million in assets	^[7]
2	March 2010	Unity National Bank of Cartersville		Failed bank; $290 million in assets; the bank's first purchase in Georgia	^[8]^[9]^[10]
3	July 2010	Woodlands Bank in Bluffton, South Carolina		Failed bank; $376 million in assets and $355 million in deposits	^[11]^[12]
4	September 2010	Horizon Bank of Bradenton, Florida		Failed bank; $170 million in assets and $150 million in deposits	^[13]
5	December 2010	Chestatee State Bank of Dawsonville, Georgia		Failed bank	^[14]
6	January 2011	Oglethorpe Bank of Brunswick		Failed bank with $210 million in assets, purchased at a $38 million discount	^[15]^[16]
7	April 2011	First Choice Community Bank of Dallas		Failed bank.	^[17]^[18]^[19]
8	April 2011	Park Avenue Bank of Valdosta		Failed bank.	^[20]^[19]
9	December 2012	Genala Bank	$27.3 million	$170 million of total assets, $45 million of loans and $142 million of deposits, one branch in Geneva, Alabama	^[21]^[22]
10	2013	First National Bank of Shelby in Shelby, North Carolina	$64 million	15 locations and $700 million in deposits in North Carolina	^[23]
11	2013	Bancshares Inc. of Houston	$23 million	$301 million in assets, $269 million in deposits and 8 branches in Texas	^[24]
12	2014	Summit Bancorp of Arkadelphia	$216 million	$1.2 billion in assets and 24 locations	^[25]
13	2014	Intervest Bancshares of Pinellas County, Florida	$228.5 million	$1.6 billion in assets and $1.3 billion in deposits in Florida	^[26]
14	2015	Bank of the Carolinas of Mocksville, North Carolina	$64.7 million	Additional assets in North Carolina	^[27]
15	July 2016	Community & Southern Bank	$799.6 million	$4.4 billion of total assets, $3.0 billion of loans and $3.7 billion of deposits	^[28]^[29]
16	July 2016	C1 Financial	$402.5 million	$1.7 billion of total assets, $1.4 billion of loans and $1.3 billion of deposits, 32 branches in Florida.	^[30]^[31]

Awards and recognition

In 2012 and 2015, SNL Financial named Bank of the Ozarks as the top performing regional bank in the country.^[32]

References

^ "Bank OZK 2023 Annual Report".
^ Darbyshire, Madison; Gandel, Stephen (July 14, 2024). "Bank OZK finances risky bet on Miami glamour". Financial Times.
^ ^a ^b "About: The Bank OZK Story". Bank OZK.
^ Shifflett, Shane; Putzier, Konrad (September 6, 2023). "Real-Estate Doom Loop Threatens America's Banks". The Wall Street Journal.
^ "Bank of the Ozarks Getting Ready for Groundbreaking on New HQ". Arkansas Business. August 22, 2016.
^ Craver, Richard (March 19, 2018). "Bank of the Ozarks opts for abbreviation with planned name change". Winston-Salem Journal.
^ Maxfield, John (September 24, 2017). "A List of Bank of the Ozarks' Acquisitions". The Motley Fool.
^ Walker, Doug (March 30, 2010). "Bank of the Ozarks acquired Unity National this weekend". Rome News-Tribune.
^ Smith, David (April 29, 2010). "Bank of Ozarks profit soars". Arkansas Democrat-Gazette. Little Rock, Arkansas.
^ "Bank of the Ozarks Assumes Deposits and Purchase of Assets of Unity National Bank" (Press release). U.S. Securities and Exchange Commission.
^ Amy, Jeff (July 16, 2010). "Woodlands Bank fails, sold to Bank of the Ozarks by FDIC". The Birmingham News.
^ Smith, David (July 17, 2010). "Bank of Ozarks nets 2nd takeover". Arkansas Democrat-Gazette.
^ Smith, David (September 11, 2010). "Bank of Ozarks acquires lender". Arkansas Democrat-Gazette.
^ Amy, Jeff (December 18, 2010). "Bank of the Ozarks acquires its fourth failed bank of 2010". The Birmingham News.
^ Sider, Alison (January 15, 2011). "Lender acquires bank in Georgia". Arkansas Democrat-Gazette.
^ "Failed Bank Information for Oglethorpe Bank, Brunswick, GA". Federal Deposit Insurance Corporation.
^ "Failed Bank Information: Information for First Choice Community Bank, Dallas, GA". Federal Deposit Insurance Corporation. April 29, 2011.
^ Gargis, Jon (April 30, 2011). "First Choice Community Bank Closes; Bank of the Ozarks Takes Accounts". Patch Media.
^ ^a ^b "Bank of the Ozarks, Little Rock, Arkansas, Acquires All the Deposits of Two Georgia Banks" (Press release). Federal Deposit Insurance Corporation. April 29, 2011.
^ Poling, Dean (April 30, 2011). "Park Avenue Bank closes". Valdosta Daily Times.
^ Browdie, Brian (October 5, 2012). "Bank of the Ozarks to Buy Genala Banc in Alabama for $27 Million".
^ "Bank of the Ozarks, Inc. Completes Acquisition of Genala Banc, Inc. in Geneva, Alabama" (Press release). Business Wire. December 31, 2012.
^ O'Daniel, Adam (January 30, 2013). "Bank of the Ozarks deploying 'war chest' in North Carolina expansion". American City Business Journals.
^ Pulsinelli, Olivia (December 10, 2013). "Bank of the Ozarks scoops up Houston bank". American City Business Journals.
^ Smith, David (January 31, 2014). "Bank of Ozarks agrees to purchase Summit, 11th acquisition since '10". Arkansas Democrat-Gazette.
^ O'Daniel, Adam (August 1, 2014). "Bank of the Ozarks to buy Intervest Bank for $228 million". American City Business Journals.
^ Craver, Richard (May 7, 2015). "Bank of the Carolinas to be sold to Arkansas bank". Winston-Salem Journal.
^ "Bank of the Ozarks, Inc. and Community & Southern Holdings, Inc. Enter into Definitive Agreement and Plan of Merger" (Press release). Business Wire. October 19, 2015.
^ "Bank of the Ozarks, Inc. Announces Completion of its Merger With Community & Southern Holdings, Inc" (Press release). Business Wire. July 20, 2016.
^ "Bank of the Ozarks, Inc. and C1 Financial, Inc. Enter into Definitive Merger Agreement" (Press release). Business Wire. November 9, 2015.
^ "Bank of the Ozarks, Inc. Announces Completion of its Merger With C1 Financial, Inc" (Press release). Business Wire. July 21, 2016.
^ "Bank of the Ozarks named top performing bank in nation". Hot Springs Sentinel-Record. August 17, 2015.

External links

Official website

Business data for Bank OZK:

[10K-1] "Bank OZK 2023 Annual Report".

[2] Darbyshire, Madison; Gandel, Stephen (July 14, 2024). "Bank OZK finances risky bet on Miami glamour". Financial Times.

[History-3] "About: The Bank OZK Story". Bank OZK.

[4] Shifflett, Shane; Putzier, Konrad (September 6, 2023). "Real-Estate Doom Loop Threatens America's Banks". The Wall Street Journal.

[5] "Bank of the Ozarks Getting Ready for Groundbreaking on New HQ". Arkansas Business. August 22, 2016.

[6] Craver, Richard (March 19, 2018). "Bank of the Ozarks opts for abbreviation with planned name change". Winston-Salem Journal.

[7] Maxfield, John (September 24, 2017). "A List of Bank of the Ozarks' Acquisitions". The Motley Fool.

[8] Walker, Doug (March 30, 2010). "Bank of the Ozarks acquired Unity National this weekend". Rome News-Tribune.

[9] Smith, David (April 29, 2010). "Bank of Ozarks profit soars". Arkansas Democrat-Gazette. Little Rock, Arkansas.

[10] "Bank of the Ozarks Assumes Deposits and Purchase of Assets of Unity National Bank" (Press release). U.S. Securities and Exchange Commission.

[11] Amy, Jeff (July 16, 2010). "Woodlands Bank fails, sold to Bank of the Ozarks by FDIC". The Birmingham News.

[12] Smith, David (July 17, 2010). "Bank of Ozarks nets 2nd takeover". Arkansas Democrat-Gazette.

[13] Smith, David (September 11, 2010). "Bank of Ozarks acquires lender". Arkansas Democrat-Gazette.

[14] Amy, Jeff (December 18, 2010). "Bank of the Ozarks acquires its fourth failed bank of 2010". The Birmingham News.

[15] Sider, Alison (January 15, 2011). "Lender acquires bank in Georgia". Arkansas Democrat-Gazette.

[16] "Failed Bank Information for Oglethorpe Bank, Brunswick, GA". Federal Deposit Insurance Corporation.

[17] "Failed Bank Information: Information for First Choice Community Bank, Dallas, GA". Federal Deposit Insurance Corporation. April 29, 2011.

[18] Gargis, Jon (April 30, 2011). "First Choice Community Bank Closes; Bank of the Ozarks Takes Accounts". Patch Media.

[fdicpark-19] "Bank of the Ozarks, Little Rock, Arkansas, Acquires All the Deposits of Two Georgia Banks" (Press release). Federal Deposit Insurance Corporation. April 29, 2011.

[20] Poling, Dean (April 30, 2011). "Park Avenue Bank closes". Valdosta Daily Times.

[21] Browdie, Brian (October 5, 2012). "Bank of the Ozarks to Buy Genala Banc in Alabama for $27 Million".

[22] "Bank of the Ozarks, Inc. Completes Acquisition of Genala Banc, Inc. in Geneva, Alabama" (Press release). Business Wire. December 31, 2012.

[23] O'Daniel, Adam (January 30, 2013). "Bank of the Ozarks deploying 'war chest' in North Carolina expansion". American City Business Journals.

[24] Pulsinelli, Olivia (December 10, 2013). "Bank of the Ozarks scoops up Houston bank". American City Business Journals.

[25] Smith, David (January 31, 2014). "Bank of Ozarks agrees to purchase Summit, 11th acquisition since '10". Arkansas Democrat-Gazette.

[Intervest-26] O'Daniel, Adam (August 1, 2014). "Bank of the Ozarks to buy Intervest Bank for $228 million". American City Business Journals.

[27] Craver, Richard (May 7, 2015). "Bank of the Carolinas to be sold to Arkansas bank". Winston-Salem Journal.

[28] "Bank of the Ozarks, Inc. and Community & Southern Holdings, Inc. Enter into Definitive Agreement and Plan of Merger" (Press release). Business Wire. October 19, 2015.

[29] "Bank of the Ozarks, Inc. Announces Completion of its Merger With Community & Southern Holdings, Inc" (Press release). Business Wire. July 20, 2016.

[30] "Bank of the Ozarks, Inc. and C1 Financial, Inc. Enter into Definitive Merger Agreement" (Press release). Business Wire. November 9, 2015.

[31] "Bank of the Ozarks, Inc. Announces Completion of its Merger With C1 Financial, Inc" (Press release). Business Wire. July 21, 2016.

[32] "Bank of the Ozarks named top performing bank in nation". Hot Springs Sentinel-Record. August 17, 2015.

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Bank OZK

History

Acquisitions

Awards and recognition

References

External links

Information related to Bank OZK

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