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Bank Of The Ozarks Q1 Profit Rises - Quick Facts

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4/12/2012 6:08 PM ET

Bank of the Ozarks Inc. (OZRK: Quote) 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.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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After reporting a bigger than expected increase in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday that once again showed stronger than expected durable goods orders growth in the month of March. The report said durable goods orders surged up by 2.6 percent in March after jumping by a revised 2.1 percent in February. First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points.
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