Bank of the Ozarks of Little Rock on Wednesday announced record quarterly earnings of $90.5 million. The new high-water mark reflects a 66.2 percent increase from $54.5 million a year ago.
The $20 billion-asset bank (Nasdaq: OZRK) also reported net income of $179.7 million for the six months ending June 30. That is a 69.3 percent increase over the $106.2 million recorded for the same period in 2016.
George Gleason, the bank’s chairman and chief executive officer, said the quarterly results included records for net interest income ($202.1 million) and service charge income ($11.7 million).
While setting new records, the company also achieved a 35.3 percent efficiency ratio. Other financial highlights included:
• Total loans and leases of $15.2 billion, a 56.1 percent increase from $9.7 billion at the end of the second quarter last year.
• Deposits of $16.2 billion, a 59.3 percent increase from $10.2 billion 12 months ago.
• Total assets of $20.1 billion, a 63.4 percent increase from $12.3 billion at June 30, 2016.
Bank of the Ozarks conducts operations through 251 offices in Arkansas, Georgia, Florida, North Carolina, Texas, Alabama, South Carolina, New York and California.
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