Bank OZK

Bank OZK (formerly Bank of the Ozarks) is a regional bank headquartered in Little Rock, Arkansas with more than 250 locations in ten states: Arkansas, Georgia, Florida, Texas, Alabama, North Carolina, South Carolina, California, New York and Mississippi and $22.39 billion in assets as of December 31, 2018. Bank OZK is currently concentrated in the southeastern U.S., with 25 or more branches in four states: Arkansas, Georgia, Florida, and North Carolina.

Bank OZK
Traded asNASDAQ: OZK
S&P 400 Component
IndustryFinancial Services
Founded1903 (1903)
Jasper, Arkansas, US
HeadquartersLittle Rock, Arkansas, Arkansas, U.S.
Key people
George G. Gleason II
(Chairman and CEO)
ProductsRetail Banking, Commercial Banking and Treasury
Revenue US$ 931.6 million (2018)[1]
US$ 555.8 million (2018)[1]
US$ 417.1 million (2018)[1]
Total assets US$ 22.39 billion (2018)[1]
Total equity US$ 3.77 billion (2018)[1]
Number of employees
2,563 (2018)[2]


Bank OZK began with a community bank in Jasper, Arkansas in 1903, expanding to a second location in Ozark, Arkansas in 1937.[3]

George Gleason, a lawyer specializing in banking at the Rose Law Firm, bought Bank of Ozark in 1979 when it had $28 million in assets and changed its name to Bank of the Ozarks. In 1994 the bank had five locations but began expanding.[4] The headquarters moved to Little Rock in 1995.[3]

In 2004, Bank OZK was the state's second-largest bank with 41 locations, with plans to double that number within the state, and to add full-service branches in Texas and North Carolina, where loan offices had already opened. In Texas, Bank OZK was paying $2.2 million for an excess charter after the purchase of Sun Bank by Happy Bancshares Inc. of Happy, Texas. In addition to $2 million in deposits, the charter would allow the bank to open new branches in the Dallas area.[5]

In December 2008, Bank OZK moved into a 112,000-square-foot 4-story headquarters, designed by Reese Rowland of Polk Stanley Rowland Curzon Porter Architects on Chenal Parkway near Rahling Road. For five years the bank had rented space in the GMAC Building and Three Financial Center.

30 years after Gleason took over, his bank had $3.2 billion in assets and 72 locations, 65 in Arkansas, 6 in Texas and one in North Carolina, and 740 employees. Only four of the branches were purchases.[4]

In 2010, Bank OZK bought four failed banks, two of those in Georgia.[6] Unity National Bank of Cartersville with $290 million in assets was the bank's first purchase in Georgia.[7] Bank OZK also bought Chestatee State Bank of Dawsonville, Georgia; Horizon Bank of Bradenton, Florida; and Woodlands Bank in Bluffton, South Carolina, which had a Savannah, Georgia branch. Randy Dennis of DD&F Consulting Group called Gleason "shrewd" and "cautious" in his strategy of acquiring failed banks.[6]

In 2011, Bank OZK acquired three more failed Georgia banks: Oglethorpe Bank of Brunswick with $210 million in assets; First Choice Community Bank of Dallas; and Park Avenue Bank of Valdosta.[6][8][9][10][11]

In 2012, SNL Financial named Bank OZK the best performing regional bank.[8]

In January 2013 Bank OZK agreed to pay $64 million for First National Bank of Shelby in Shelby, North Carolina, which dated to 1874. Bank OZK would be "the dominant bank" in Cleveland County, North Carolina. This deal, plus the bank's first full-service branch on Park Road in Charlotte, would give Bank OZK 15 locations and $700 million in deposits in North Carolina.[12] By August 2014, the bank also had offices in Cornelius and Belmont.[13]

On December 9, 2013, Bank OZK announced the $23 million acquisition of Bancshares Inc. of Houston, with $301 million in assets, $269 million in deposits and eight branches of Omnibank N.A., three in Houston, one in San Antonio and four in the Austin area.[14]

On January 30, 2014, Bank OZK announced a $216 million merger with Summit Bancorp of Arkadelphia, the state's sixth largest bank with $1.2 billion in assets and 24 locations. This was the bank's largest merger yet.[15]

Also in 2014, Bank OZK announced a $228.5 million deal to acquire Intervest Bancshares Corp. of Pinellas County, Florida, with seven offices, six in Florida, $1.6 billion in assets and $1.3 billion in deposits. Bank OZK had four Florida locations, in Manatee County.[13]

On May 6, 2015, a $64.7 million deal was announced with Bank of the Carolinas of Mocksville, North Carolina. The deal would give Bank OZK 24 locations in North Carolina, up from 16, and its first presence in the Piedmont Triad. The bank's North Carolina deposits would increase from $596.2 million to $963.7 million, making it the state's 19th largest bank. Total branches would increase to 171.[16]

On October 19, 2015, Bank OZK announced an agreement to acquire Community & Southern Bank, in an all-stock transaction valued at approximately $799.6 million.[17] This acquisition, both in total assets and in purchase price, is the largest ever by an Arkansas bank.[18]

On November 9, 2015, a $402.5 million deal was announced with C1 Bank of St. Petersburg, Florida. Upon the closing of the transaction, C1 will merge into Bank OZK. Completion of the transaction is subject to certain closing conditions, including customary regulatory approvals and approval by C1 shareholders. The transaction is expected to close late in the first quarter of 2016 or early in the second quarter of 2016. This transaction will be Bank OZK's fifteenth acquisition since March, 2010 and upon completion will make Bank OZK the largest bank in Arkansas.[19]

A name change to what was then, Bank of the Ozarks, was announced March 16, 2018 to reflect the large area the bank now covers. After a vote on the change was made on May 7, the new name of Bank OZK would become official on July 16, 2018.[20]


  1. "Bank OZK(OZK)". Retrieved June 29, 2019.
  2. "Bank OZK(OZK)". Retrieved June 29, 2019.
  3. "History". Retrieved May 8, 2015.
  4. Smith, David (February 1, 2009). "Bank of Ozarks moves to new building, caps 30-year success story". Arkansas Democrat-Gazette. p. 67.
  5. Smith, David (March 16, 2004). "Bank of Ozarks is taking long view: Institution plans out-of-state growth". Arkansas Democrat-Gazette. p. 23.
  6. Sider, Alison (January 15, 2011). "Lender acquires bank in Georgia". Arkansas Democrat-Gazette. p. 25.
  7. Smith, David (April 4, 2010). "Banks plan more acquisitions: Home BancShares, Ozarks still shopping Florida, Georgia". Arkansas Democrat-Gazette. p. 69.
  8. "Business Briefs: Bank of the Ozarks named top performing bank in the nation". Newnan Times-Herald. May 27, 2012. Archived from the original on 2015-05-18. Retrieved May 14, 2015.
  9. "First Choice Community Bank in Dallas, Georgia (GA)". Retrieved May 14, 2015.
  10. "Failed Bank Information: Information for First Choice Community Bank, Dallas, GA". Federal Deposit Insurance Corporation. Retrieved May 14, 2015.
  11. Poling, Dean (April 30, 2011). "Park Avenue Bank closes". Valdosta Daily Times. Retrieved May 14, 2015.
  12. O'Daniel, Adam (January 30, 2013). "Bank of the Ozarks deploying 'war chest' in North Carolina expansion". Charlotte Business Journal. Retrieved May 11, 2015.
  13. O'Daniel, Adam (August 1, 2014). "Bank of the Ozarks to buy Intervest Bank for $228 million". Charlotte Business Journal. Retrieved May 11, 2015.
  14. Pulsinelli, Olivia (December 10, 2013). "Bank of the Ozarks scoops up Houston bank". Houston Business Journal. Retrieved May 14, 2015.
  15. Smith, David (January 31, 2014). "Bank of Ozarks agrees to purchase Summit, 11th acquisition since '10". Arkansas Democrat-Gazette. p. 1.
  16. Craver, Richard (May 7, 2015). "Bank of the Carolinas to be sold to Arkansas bank". Winston-Salem Journal. Retrieved May 14, 2015.
  20. Craver, Richard (March 19, 2018). "Bank of the Ozarks opts for abbreviation with planned name change". Winston-Salem Journal. Retrieved March 19, 2018.
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