Press Release: Bank OZK Announces Record First Quarter 2024 Earnings

Less preferred stock                       (338,980)        (338,980) 
                                         ----------       ---------- 
      Total common stockholders' 
       equity                           $ 4,927,867      $ 4,422,947 
Less intangible assets: 
    Goodwill                               (660,789)        (660,789) 
    Core deposit and other intangible 
     assets, net of accumulated 
     amortization                                --           (1,565) 
                                         ----------       ---------- 
      Total intangibles                    (660,789)        (662,354) 
                                         ----------       ---------- 
      Total tangible common 
       stockholders' equity               4,267,078        3,760,593 
                                         ==========       ========== 
Total assets                            $36,029,904      $28,971,170 
Less intangible assets: 
    Goodwill                            $  (660,789)     $  (660,789) 
    Core deposit and other intangible 
     assets, net of accumulated 
     amortization                                --           (1,565) 
                                         ----------       ---------- 
      Total intangibles                    (660,789)        (662,354) 
                                         ----------       ---------- 
      Total tangible assets             $35,369,115      $28,308,816 
                                         ==========       ========== 
Ratio of total common stockholders' 
 equity to total assets                       13.68%           15.27% 
                                         ==========       ========== 
Ratio of total tangible common 
 stockholders' equity to total 
 tangible assets                              12.06%           13.28% 
                                         ==========       ========== 
 
 
 
           Calculation of Pre-Tax Pre-Provision Net Revenue 
                               Unaudited 
 
                                    Three Months Ended 
                    --------------------------------------------------- 
                     March    December   September              March 
                      31,        31,        30,      June 30,    31, 
                      2024       2023       2023       2023      2023 
                                  (Dollars in thousands) 
Net income 
 available to 
 common 
 stockholders       $171,490  $ 171,079  $  169,746  $167,917  $165,853 
Preferred stock 
 dividends             4,047      4,047       4,047     4,047     4,047 
Earnings 
 attributable to 
 noncontrolling 
 interest                 18          6          37         1        12 
Provision for 
 income taxes         54,226     43,600      46,144    45,717    40,703 
Provision for 
 credit losses        42,923     43,832      44,036    41,774    35,829 
                     -------   --------   ---------   -------   ------- 
    Pre-tax 
     pre-provision 
     net revenue    $272,704  $ 262,564  $  264,010  $259,456  $246,444 
                     =======   ========   =========   =======   ======= 
 
 
 
Investor Contact:  Jay Staley (501) 906-7842 
Media Contact:     Michelle Rossow (501) 906-3922 
 

(END) Dow Jones Newswires

April 17, 2024 16:01 ET (20:01 GMT)