George Gleason Casts An Eye Back to Record Profits

by George Waldon  on Tuesday, May. 20, 2014 9:18 am  

George Gleason (Photo by Jason Burt)

"We Arkansans hate to admit it, but everything is bigger in Texas," Gleason said.

He portrayed Bank of the Ozarks operations in GeorgiaNorth Carolina, Florida, Alabama and South Carolina as an emerging franchise.

"We hope to expand this franchise in the years to come," Gleason said of the Southeast holdings, built largely through FDIC-assisted transactions in 2010 and 2011.

He is pleased with the management of troubled assets that began hitting the company's financials in the third quarter of 2010. Since then, Bank of the Ozarks has realized a combined $41.4 million while winding down the troubled loan portfolios acquired in seven FDIC-assisted deals.

"It's really contributed to our earnings," Gleason said. "We worked really hard the last four years to add to shareholder value."

Also Monday, the company (Nasdaq: OZRK) delcared a two-for-one split on common stock to be paid on or about June 23 to shareholders of record as of June 13.

It's the company's first stock split since 2011, and its fourth since its initial public offering in 1997.

 

 

Please read our comments policy before commenting.