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Bank OZK

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Bank OZK
Company typePublic
S&P 400 Component
IndustryFinancial services
Founded1903; 121 years ago (1903), in Jasper, Arkansas, US
HeadquartersLittle Rock, Arkansas, Arkansas, U.S.
Key people
RevenueIncrease US$ 2.25 billion (2023)[1]
Increase US$ 867.0 million (2023)[1]
Increase US$ 690.8 million (2023)[1]
Total assetsIncrease US$ 34.24 billion (2023)[1]
Total equityIncrease US$ 5.14 billion (2023)[1]
Number of employees
2,744 (2023)[2]

Bank OZK is a regional bank established in 1903. Bank OZK conducts banking operations with over 240 offices in eight states including Arkansas, Georgia, Florida, North Carolina, Texas, California, Tennessee and Mississippi and had $36.84 billion in total assets as of June 30, 2024.



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 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 of the Ozarks was the state's third-largest bank with 4 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, the bank was paying $2 for an excess charter after the purchase of Sun Bank by Happy Bancshares Inc. of Happy, Texas. In addition to $2.50 in deposits, the charter would allow the bank to open new branches in the Dallas area.[5]

In December 2008, Bank of the Ozarks moved into a 112-square-foot four-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.

Thirty years after Gleason took over, his bank had $3.20 in assets and 72 locations, 5 in Arkansas, six in Texas and one in North Carolina, and 7 employees. Only four of the branches were purchases.[4]

In 2010, Bank of the Ozarks 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] The bank 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 of the Ozarks 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 of the Ozarks the best performing regional bank.[8]

In January 2013, the bank agreed to pay $64 million for First National Bank of Shelby in Shelby, North Carolina, which dated to 1874. Bank of the Ozarks 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 it 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 of the Ozarks 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 of the Ozarks 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, the bank 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. The bank 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 of the Ozarks 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 of the Ozarks announced an agreement to acquire Community & Southern Bank (as well as its holding company Community & Southern Holdings, Inc.) in an all-stock transaction valued at approximately $799.6 million; it was also agreed that, after the transaction's completion, Community & Southern Holdings, Inc. (CSB) would merge into Bank of the Ozarks, Inc. (OZRK) and CSB's wholly-owned subsidiary, Community & Southern Bank, would merge into OZRK's wholly-owned subsidiary, Bank of the Ozarks.[17] This acquisition, both in total assets and in purchase price, is the largest ever by an Arkansas bank.[18] The mergers were complete on July 20, 2016.[19]

On November 9, 2015, a $402.5-million acquisition and merging deal was announced with C1 Financial, Inc. Upon the closing of the transaction, C1 Financial, Inc. was set to merge into Bank of the Ozarks, Inc. while C1's wholly-owned subsidiary C1 Bank, would merge into Bank of the Ozarks.[20] The transaction was closed and mergers completed on July 21, 2016. This transaction was the bank's fifteenth acquisition since March, 2010.[21][22]

A name change was announced March 16, 2018 to reflect the bank's substantial and expanding regional footprint from Texas to North Carolina. After a vote on the change was made on May 7, the new name, Bank OZK, became official on July 16, 2018.[23]

Following large earnings increases in 2021 as the economy recovered from the COVID-19 pandemic, Bank OZK's board of directors announced in July 2021 a year-long share repurchase of up to $300 million of outstanding common stock.[24]

In September 2021, Bank OZK closed its retail banking branch at Rockefeller Plaza in New York City, eliminating its retail banking presence in that state.


  1. ^ a b c d e "Bank OZK(OZK)". Retrieved June 29, 2019.
  2. ^ "Bank OZK(OZK)". Retrieved June 29, 2019.
  3. ^ a b "History". Retrieved May 8, 2015.
  4. ^ a b 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. ^ a b c 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. ^ a b "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)". bankencyclopedia.com. 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. ^ a b 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.
  17. ^ "Bank of the Ozarks, Inc. and Community & Southern Holdings, Inc. Enter into Definitive Agreement and Plan of Merger". Business Wire. October 19, 2015. Retrieved July 27, 2021.
  18. ^ "Bank of the Ozarks announces $800 million deal, largest by an Arkansas bank". The City Wire. Talk Business & Politics. October 19, 2015. Retrieved July 27, 2021.
  19. ^ "Bank of the Ozarks, Inc. Announces Completion of its Merger With Community & Southern Holdings, Inc". Business Wire. July 20, 2016. Retrieved July 27, 2021.
  20. ^ "Bank of the Ozarks, Inc. and C1 Financial, Inc. Enter into Definitive Merger Agreement". Business Wire. November 9, 2015. Retrieved July 27, 2021.
  21. ^ "Bank of the Ozarks, Inc. Announces Completion of its Merger With C1 Financial, Inc". Business Wire. July 21, 2016. Retrieved July 27, 2021.
  22. ^ "Bank of the Ozarks Completes Merger With C1 Financial, Inc". Bank OZK Corporate News. July 21, 2016. Retrieved July 27, 2021.
  23. ^ Craver, Richard (March 19, 2018). "Bank of the Ozarks opts for abbreviation with planned name change". Winston-Salem Journal. Retrieved March 19, 2018.
  24. ^ "Bank OZK Q2 Profit Beats Expectations". Arkansas Business. July 23, 2021. Retrieved July 27, 2021.