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Bank of the Ozarks reports net income.

Global Banking News-July 12, 2017--Bank of the Ozarks reports net income

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Global Banking News - 12 July 2017

Bank of the Ozarks (NASDAQ: OZRK) has reported a net income for the second quarter of 2017 of USD90.5m, a 66.2 percent increase from USD54.5m for the second quarter of 2016.

Diluted earnings per common share for the second quarter of 2017 were USD0.73, a 21.7 percent increase from USD0.60 for the second quarter of 2016. For the six months ended June 30, 2017, net income totalled USD179.7m, a 69.3 percent increase from net income of USD106.2m for the first six months of 2016. Diluted earnings per common share for the first six months of 2017 were USD1.46, a 25.9 percent increase from USD1.16 for the first six months of 2016.

On June 26, 2017, the bank merged with its former parent holding company, Bank of the Ozarks Inc., with the bank as the surviving corporation.

At June 30, 2017, total loans and leases, including purchased loans, were USD15.2bn, a 56.1 percent increase from USD9.7bn at June 30, 2016. Deposits were USD16.2bn at June 30, 2017, a 59.3 percent increase from USD10.2bn at June 30, 2016. Total assets were USD20.1bn at June 30, 2017, a 63.4 percent increase from USD12.3bn at June 30, 2016.

Headquartered in Little Rock, Arkansas with USD20.1bn in total assets at June 30, 2017, Bank of the Ozarks conducts operations through 251 offices in Arkansas, Georgia, Florida, North Carolina, Texas, Alabama, South Carolina, New York and California.

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Publication:Global Banking News (GBN)
Date:Jul 12, 2017
Words:299
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