CEO Profile: George Gleason II of Bank of the Ozarks Inc.

by George Waldon  on Monday, Mar. 26, 2012 12:00 am  

George Gleason is brimming with good corporate news and primed for an annual shareholders' meeting still weeks away. But then, Gleason always seems prepared.

For now, the chairman and CEO of Bank of the Ozarks Inc. will make do with a quick presentation for an audience of two. Seated at the head of the company's boardroom table in west Little Rock, Gleason enumerates the highlights of the $3.8 billion-asset concern under three headings: continued excellent performance, the growing importance of Texas markets and the rapid emergence of franchise building through FDIC-assisted acquisitions.

"We've had record earnings in 14 of the last 15 years, including the last 11 years," the 58-year-old banker said.

Gleason is especially proud the company has maintained that string of profits during the last five years, a time of challenges for the banking industry.

Bank of the Ozarks recorded net income of $101.3 million in 2011 while generating a 27.04 percent return on equity ratio. That holding company performance likely will lead to more national recognition.

BOZ ranked No. 1 among banks and thrifts with total assets of $3 billion or more with an ROE of 21.37 percent in 2010. In recognition of that achievement, ABA Banking Journal named Bank of the Ozarks the top performing lender in the nation, and American Banker named Gleason Community Bank of the Year.

A big contributor to the company's continued strong earnings was its Texas operation, which expanded to 10 locations during 2011 with the addition of branches in Keller, Carrollton and Plano.

A loan production office in Austin and a branch in The Colony boosted the Texas total to a dozen during the first quarter of 2012. The Colony office increased the company's presence in the Dallas-Fort Worth metropolitan area, while the Austin facility marked new territory in the Lone Star State.

"Texas is the fastest-growing part of our franchise," Gleason said. "41.8 percent of our loan portfolio is generated there and 14.2 percent of our deposits. The Texas economy is robust and doing well."

During the past two years, Bank of the Ozarks expanded its footprint through seven FDIC-assisted acquisitions representing $2.2 billion in assets. The deals yielded ongoing offices in Georgia, 27; Florida, four; and one each in North Carolina, South Carolina and Alabama.

The company built a reputation as an aggressive bidder on failed lenders, and Gleason continues to prowl for new opportunities.

"That's a big part of what we're doing," he said.

 

 

Please read our comments policy before commenting.
Search

Latest Arkansas Business Poll

Should the alcohol amendment remain on the ballot?