Bank of the Ozarks earns record $9.3 million in 1Q.Bank of the Ozarks Inc. posted record net income in the first quarter of $9.3 million, or 55 cents a share, up 20 percent over the $7.8 million, or 46 cents a share, for the first quarter of 2008. Analysts had expected earnings of 52 cents a share. The company's returns on average assets and average common stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. for the first quarter of 2009 were 1.16 percent and 14.19 percent, respectively, compared with 1.11 percent and 15.31 percent, respectively, for the first quarter of 2008. Loans and leases were up slightly to $1.99 billion at the end of March, while deposits were up 4.1 percent to $2.29 billion. Total assets were $3.16 billion as the quarter ended, a 3.5 percent increase over the year-ago figure. All of those figures, however, were down from 2008 year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. numbers. Loans and leases were down 1.5 percent compared with $2.02 billion as of Dec. 31. Deposits were off 2.2 percent compared with $2.34 billion, and total assets declined 2.3 percent from $3.23 billion at year's end. "In the past two quarters, our total loans and leases have declined modestly as slowing economic conditions have diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. loan and lease demand," George George, river, c.345 mi (560 km) long, rising in a lake on the Quebec-Labrador boundary, E Canada. It flows N through Indian Lake (125 sq mi/324 sq km) to Ungava Bay (an arm of Hudson Strait). Gleason Glea·son , Herbert John Known as "Jackie." 1916-1987. American entertainer best remembered for his portrayal of Ralph Kramden on the television comedy The Honeymooners (1952-1957). , chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said. "While we are actively seeking and originating many good quality new loans and leases, the volume of new loans and leases has not kept pace with pay downs. "During the quarter just ended, we reduced our brokered deposits by $128 million while increasing local deposits by $77 million. As a result, total deposits declined $51 million." |
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