Bank of the Ozarks, Inc. AnnouncesRedemption of All Series A Preferred Stock

LITTLE ROCK, Ark.--(Business Wire)--
Bank of the Ozarks, Inc. ("Company") (NASDAQ: OZRK) announced that earlier today
it redeemed for $75 million, plus accrued and unpaid dividends all of its Series
A Preferred Stock previously issued to the U.S. Department of the Treasury
("Treasury") pursuant to the Capital Purchase Program of the Troubled Asset
Relief Program. The Company also submitted an offer to repurchase from the
Treasury the warrant for 379,811 shares of the Company`s common stock, which
warrant was issued in conjunction with the Series A Preferred Stock.

Bank of the Ozarks, Inc. Chairman and Chief Executive Officer George Gleason
stated, "Our Company has been well capitalized by all applicable regulatory
measures for many years, and we are well capitalized following the redemption of
the Series A Preferred Stock. As a result of our excellent earnings in recent
years and quarters, our ratio of tangible common equity to tangible assets has
increased to 9.29% at September 30, 2009, which is its highest level in many
years. Our strong capital position and favorable earnings allowed us to redeem
the Series A Preferred Stock without having to issue any additional common stock
or other equity, and we have capital to take advantage of strategic
opportunities, including possible FDIC-assisted acquisitions of failed financial
institutions."

The Company has achieved record net income in eleven of its twelve years as a
public company, including the last eight consecutive years. During the first
nine months of 2009, the Company`s net income available to common stockholders
was $27.2 million, a 7.1% increase compared to the first nine months of 2008.
For the nine months ended September 30, 2009, the Company`s annualized return on
average assets was 1.19% and its annualized return on average common
stockholders` equity was 13.64%.

The Company will incur $3.0 million of charges in the fourth quarter of 2009
related to the Series A Preferred Stock, including $0.3 million of preferred
dividend and $2.7 million related to the previously unamortized discount on the
Series A Preferred Stock. These charges are not deductible for tax purposes.
Such charges will be substantially offset by securities gains totaling $4.0
million pre-tax, or $2.5 million after tax, realized during the first five weeks
of the fourth quarter. Repayment of the Series A Preferred Stock will eliminate
in future quarters the non tax deductible quarterly cost of the Series A
Preferred Stock dividend and discount amortization which averaged $1.1 million
per quarter during the first three quarters of 2009.

FORWARD LOOKING STATEMENTS

This release contains forward looking statements regarding the Company`s plans,
expectations, beliefs, goals and outlook for the future, including the Company`s
planned repurchase of the warrant for 379,811 shares of its common stock from
the Treasury, the expected impact of the Series A Preferred Stock redemption on
fourth quarter 2009 earnings and earnings in future quarters, and the potential
to take advantage of strategic opportunities, including possible FDIC-assisted
acquisitions of failed financial institutions. Actual results may differ
materially from those projected in such forward looking statements due to
various factors including those identified in Management`s Discussion and
Analysis under the caption "Forward Looking Information" contained in the
Company`s 2008 Annual Report to Stockholders and the most recent Annual Report
on Form 10-K filed with the Securities and Exchange Commission.

GENERAL INFORMATION

Bank of the Ozarks, Inc. is a bank holding company with $2.9 billion in total
assets as of September 30, 2009 and trades on the NASDAQ Global Select Market
under the symbol "OZRK". The Company owns a state-chartered subsidiary bank that
conducts banking operations through 73 offices, including 66 banking offices in
34 communities throughout northern, western and central Arkansas, six Texas
banking offices, and a loan production office in Charlotte, North Carolina. The
Company may be contacted at (501) 978-2265 or P. O. Box 8811, Little Rock,
Arkansas 72231-8811. The Company`s website is: www.bankozarks.com.

Bank of the Ozarks, Inc.
Susan Blair, 501-978-2217

Copyright Business Wire 2009