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.
 | |
 Bank OZK Headquarters in Little Rock, Arkansas | |
| Company type | Public |
|---|---|
| Nasdaq: OZK S&P 400 Component | |
| Industry | Financial services |
| Founded | 1903, 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) |
| US$867.0 million (2023) | |
| 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 |
| Footnotes / references [1] | |
Contrary to most other large banks, the bank does not syndicate its commercial real estate loans.[2]
History
editBank 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
edit| # | 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
editIn 2012 and 2015, SNL Financial named Bank of the Ozarks as the top performing regional bank in the country.[32]
References
edit- ^ "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
edit
- Business data for Bank OZK: