Bank of the Ozarks issues trust preferred securities.

Bank of the Ozarks Inc. of Little Rock said its wholly owned subsidiary, Ozark Capital Statutory Trust V, issued 20,000 trust preferred securities, liquidation amount of $1,003 per trust preferred security, for a cumulative purchase price of $20 million.

The trust preferred securities will bear a floating interest rate equal to 90-day London Interbank Offered Rate (LIBOR) plus 1.6 percent. The trust preferred securities are redeemable, at the company's option, in whole or in part, at par, beginning five years after their issuance, and, if not sooner redeemed, will mature on Dec. 15, 2036.

The trust preferred securities were placed in a private transaction under an exemption allowed under the Securities Act of 1933. The company guarantees payments to the holders on accrued and unpaid distributions of interest and principal on the securities and the redemption price in each case to the extent the trust has funds available.

The proceeds of the offering will be used to acquire debt securities of the company which, in turn, intends to use the proceeds to augment Tier 1 capital of the company and for general corporate purposes.

* Murphy Oil Corp. declared a quarterly dividend of 15 cents a share, payable Dec. 1 to stockholders of record Nov. 10.