Bank of the Ozarks, Inc. Announces Record Fourth Quar
Full Year 2009 Earnings
January 14, 2010 06:03 PM Eastern Time
LITTLE ROCK, Ark.--(EON: Enhanced Online News)--Bank of the Ozarks, Inc. (NASDAQ: OZRK) today announced that net
was a record $36,826,000, an increase of 6.8% from $34,474,000 for 2008. This was the Company’s ninth consecutive year of re
Diluted earnings per common share for 2009 were a record $2.18, an increase of 6.9% from $2.04 for 2008.
For the quarter ended December 31, 2009, net income was a record $9,648,000, an increase of 6.1% from net income of $9,091,
quarter of 2008. Diluted earnings per common share for the fourth quarter of 2009 were a record $0.57, an increase of 5.6% from
fourth quarter of 2008.
The Company’s returns on average assets and average common stockholders' equity for 2009 were 1.23% and 13.75%, respectiv
1.14% and 16.16%, respectively, for 2008. For the fourth quarter of 2009, annualized returns on average assets and average com
equity were 1.36% and 14.08%, respectively, compared to 1.15% and 15.98%, respectively, for the fourth quarter of 2008.
In commenting on these results, George Gleason, Chairman and Chief Executive Officer, stated, “We are very pleased to report our
year of record net income as well as record income for the quarter just ended. These record results were largely due to our excellen
included our favorable net interest margin and record annual and quarterly income from both service charges on deposit accounts an
We have also benefited significantly from our focus on efficiency, which has resulted in us achieving efficiency ratios among the best
Our strong revenue generating capabilities, favorable operating efficiency, abundant sources of liquidity, robust capital position and s
allowance for loan and lease losses provide a solid foundation for continued success.”
Loans and leases were $1.90 billion at December 31, 2009, a decrease of 5.8% from $2.02 billion at December 31, 2008. Mr. Gl
“Slower economic conditions over the past y