Profile: Bank of The Ozarks Inc (OZRK.OQ)
23 Mar 2017
Bank of the Ozarks, Inc., incorporated on June 15, 1981, is a bank holding company. The Company owns an Arkansas state chartered subsidiary bank, Bank of the Ozarks (the Bank). It owns Ozark Capital Statutory Trust II, Ozark Capital Statutory Trust III, Ozark Capital Statutory Trust IV and Ozark Capital Statutory Trust V (collectively, the Ozark Trusts). It owns Intervest Statutory Trust II, Intervest Statutory Trust III, Intervest Statutory Trust IV and Intervest Statutory Trust V (collectively, the Intervest Trusts, and together with the Ozark Trusts, the Trusts). It also owns, indirectly through the Bank, a subsidiary engaged in the development of real estate, a subsidiary that owns private aircraft and various other entities that hold foreclosed assets or tax credits or engage in other activities. As of December 31, 2016, the Company, through the Bank, conducted operations through 250 offices, including offices in Arkansas, Georgia, Florida, North Carolina, Texas, Alabama, South Carolina, New York and California.
The Company provides a range of retail and commercial banking services. Its deposit services include checking, savings, money market, time deposit and individual retirement accounts. Its loan services include various types of real estate, consumer, commercial, industrial and agricultural loans and various leasing services. It also provides mortgage lending; treasury management services for businesses, individuals and non-profit and governmental entities, including wholesale lock box services; remote deposit capture services; trust and wealth management services for businesses, individuals and non-profit and governmental entities, including financial planning, money management, custodial services and corporate trust services; real estate appraisals; automated teller machines (ATMs); telephone banking; online and mobile banking services, including electronic bill pay and consumer mobile deposits, and debit cards, gift cards and safe deposit boxes, among other products and services. Through third-party providers, it offers credit cards for consumers and businesses and processing of merchant debit and credit card transactions.
The Company's loan portfolio includes purchased loans, such as various types of real estate loans, consumer loans, commercial and industrial loans, agricultural loans and other types of loans. Its portfolio of real estate loans includes loans secured by non-farm/non-residential, agricultural, construction/land development, multifamily residential properties and other land loans. Non-farm/non-residential loans include those secured by real estate mortgages on owner-occupied commercial buildings of various types, leased commercial, retail and office buildings, hospitals, nursing and other medical facilities, hotels and motels, and other business and industrial properties. Agricultural real estate loans include loans secured by farmland and related improvements, including some loans guaranteed by the Farm Service Agency. Real estate construction/land development loans include loans secured by vacant land, loans to finance land development or construction of industrial, commercial, residential or farm buildings or additions or alterations to existing structures.
The Company's portfolio of consumer loans includes loans to individuals for household, family and other personal expenditures. Its commercial and industrial loan portfolio consists of loans for commercial, industrial and professional purposes, including loans to fund working capital requirements (such as inventory, floor plan and receivables financing), purchases of machinery and equipment and other purposes. It offers a range of commercial and industrial loan arrangements, including term loans, balloon loans and lines of credit, including some loans guaranteed by the Small Business Administration, with the purpose and collateral supporting a particular loan determining its structure. Its portfolio of agricultural (non-real estate) loans includes loans for financing agricultural production, including loans to businesses or individuals engaged in the production of timber, poultry, livestock or crops. As of December 31, 2016, its loan and lease portfolio was $14.56 billion.
The Company classifies its investment securities portfolio as available for sale. Its investment securities include obligations of states and political subdivisions, the United States Government agency securities, corporate obligations, the Community Reinvestment Act (CRA) qualified investment fund and other equity securities. As of December 31, 2016, the Company's investment securities amounted to $1,471.612 million.
Sources of Funds
The Company offers an array of deposit products consisting of non-interest bearing checking accounts, interest bearing transaction accounts, business sweep accounts, savings accounts, money market accounts, time deposits, including access to products offered through the various CDARS programs, and individual retirement accounts. As of December 31, 2016, the Company had total deposits of $15.57 billion.
Bank of The Ozarks Inc
17901 Chenal Pkwy
LITTLE ROCK AR 72223-5831