FONT-SIZE Plus   Neg

Bank Of The Ozarks Q1 Profit Rises - Quick Facts

Bank of the Ozarks Inc. (OZRK) announced that its first-quarter net income was $18.0 million, a 23.1% increase from $14.6 million for the first quarter of 2011. Earnings per share were $0.52, a 20.9% increase from $0.43 for the first quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.51per share for the quarter. Analysts' estimates typically exclude special items.

The company said that it made no FDIC-assisted acquisitions during the first quarter of 2012, and its results for the quarter did not include any acquisition or conversion costs related to any of its seven previous FDIC-assisted acquisitions.

During the first quarter of 2011, the Company made one FDIC-assisted acquisition, which resulted in a gain, net of acquisition and conversion costs, of approximately $1.0 million after taxes, or approximately $0.03 of diluted earnings per common share.

Net interest income for the first quarter of 2012 increased 21.5% to $43.8 million compared to $36.1 million for the first quarter of 2011. Non-interest income for the first quarter of 2012 increased 6.3% to $13.8 million compared to $13.0 million for the first quarter of 2011.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Bond management titan Bill Gross has filed suit against his former employer, PIMCO, for breach of contract related to his ouster from the company. Gross is looking for damages of at least $200 million for forcing him out of the company, according to court filings. Gross claims that other managers conspired to push him out of the firm he co-founded in order to improve their own finances. Alcoa Inc. (AA), the largest producer of aluminum in the US, Thursday reported a sharp decline in profit for the third quarter, as sales dropped 11 percent reflecting divestitures and currency headwinds. Both the earnings and revenues fell short of Wall Street analysts' estimates, sending its shares...
comments powered by Disqus
Trade OZRK now with 
Follow RTT