Little Rock’s Bank OZK intends to triple its presence in Florida’s $88 billion-deposit market in Duval County.
The $26.5 billion-asset lender, the sole Arkansas bank on the ground there, is working on new branches in Jacksonville and Jacksonville Beach.
Bank OZK intends to transform its loan production office in a former IberiaBank location at 3288 Third St. South in Jacksonville Beach into a full-service branch.
The bank wants to wade deeper into Jacksonville with a branch at 6072 Youngerman Circle. The property previously housed a local lender, 121 Financial Credit Union.
Bank OZK currently operates one full-service office in Jacksonville. That lone branch is home to deposits of $155 million, which ranks No. 17 among the 23 banks in Duval County.
Bank OZK entered the Jacksonville market through acquisition. The branch was among the holdings of Atlanta’s Community & Southern Bank, purchased in July 2016 in an $800 million deal.
