Bank of the Ozarks Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2017
January 16, 2018 at 12:00 pm
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Bank of the Ozarks reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net interest income of USD 214,831,000 against USD 194,800,000 a year ago. Net income available to common stockholders was USD 146,164,000 against USD 87,787,000 a year ago. Net income per share basic and diluted was USD 1.14 against USD 0.72 per share a year ago. Return on average assets was 2.81% against 1.92% a year ago. Return on average common stockholders' equity was 17.23% against 12.62% a year ago. Return on average tangible common stockholders' equity was 21.84% against 17.08% a year ago. Pretax income was USD 152,038,000 against USD 140,412,000 a year ago.
For the year, the company reported net interest income of USD 817,429,000 against USD 601,505,000 a year ago. Net income available to common stockholders was USD 421,891,000 against USD 269,979,000 a year ago. Net income per share - diluted was USD 3.35 against USD 2.58 per share a year ago. Book value per share was USD 26.98 as on December 31, 2017 against USD 23.02 as on December 31, 2016. Tangible book value per share was USD 21.45 as on December 31, 2017 against USD 17.08 as on December 31, 2016. Return on average assets was 2.15% against 1.89% a year ago. Return on average common stockholders' equity was 13.49% against 13.05% a year ago. Return on average tangible common stockholders' equity was 17.49% against 16.25% a year ago.
For the quarter, the company reported net charge-offs of USD 1,943,000 against USD 3,074,000 a year ago.
Bank OZK (the Bank) is a regional bank that provides a range of financial solutions. The Bank offers a range of products, including checking, savings, loans, mortgages, treasury management, merchant services, trust and estate services, wealth, and credit cards, among others. Its savings products include certificate of deposits, money market accounts, and individual retirement accounts. Its personal lending options include home equity lines of credit, personal lines of credit and auto loans. It offers both a fixed rate mortgage and an adjustable-rate mortgage. Its online banking enables users to manage their accounts, pay bills, transfer funds, view electronic account statements and others. The Bank also provides individual consultation, financial planning, trust, and investment management services. The Bank conducts banking operations with over 240 offices in eight states, including Arkansas, Georgia, Florida, North Carolina, Texas, New York, California, and Mississippi.
Bank of the Ozarks Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2017