logo
Share SHARE
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
Apple and Hertz Global Holdings Inc. will work hand in hand to develop self driving vehicles. Bloomberg reported that Apple will hand over six Lexus SUVs to Hertz subsidiary Donlen fleet management unit for software testing. The leasing agreement between Apple and Hertz for a small fleet of vehicles was revealed by the California Department of Motor vehicles. The document listed Donlen as the le Apple Inc. has acquired German computer vision company SensoMotoric Instruments, a maker of eye-tracking glasses and systems, according to media reports. Financial terms of the deal are not known. The acquisition is expected to help Apple develop software that will be built into future versions of the iPhone or other new hardware. Western Digital Corp. and U.S. private equity firm KKR & Co. LP have resubmitted an offer for Toshiba Corp.'s flash memory chip unit, according to media reports on Tuesday. The new offer is said to be around 2 trillion yen. Western Digital's re-submission of a bid comes amid speculation that Toshiba might sign an agreement by Wednesday to sell the business to a Japanese-led consortium.
comments powered by Disqus
Follow RTT