Bank of the Ozarks, Inc. Announces Record Second Quarter Earnings.

Business Wire › July 12, 2001

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Bank of the Ozarks, Inc. Announces Record Second Quarter Earnings.

Business Editors

LITTLE ROCK, Ark.--(BUSINESS WIRE)--July 12, 2001

Bank of the Ozarks, Inc. (NASDAQ:OZRK) today announced record earnings for the quarter ended June 30, 2001. Net income for the quarter was $2,213,000, a 21.9% increase over net income of $1,815,000 for the second quarter of 2000. Diluted earnings per share were $0.58 for the second quarter of 2001 compared to $0.48 for the second quarter of 2000, an increase of 20.8%.

For the six months ended June 30, 2001, net income totaled $4,075,000, a 13.2% increase over net income of $3,601,000 for the first six months of 2000. Diluted earnings per share for the first six months of 2001 were $1.07, compared to $0.95 for the same period in 2000, an increase of 12.6%.

During the quarter just ended, the Company successfully concluded its long-standing dispute regarding Arkansas income taxes for 1993, 1994 and 1995. As a result the Company recorded additional non-interest income of $102,000 and a net reduction in income taxes of $62,000. Excluding the effect of this spec...

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