Arkansas based Bank of the Ozarks announced today that it has beaten its Q1 profit forecasts with record net income of $89.2m; an increase of 72.6% on Q1 2016, and Q1 diluted earnings per share of $0.73; 28.1% higher than last year.

The company’s annualised returns on average assets, average common stockholders’ equity and average tangible common stockholders’ equity for Q1 2017 were 1.93%, 12.8% and 17.17% respectively (Q1 2016: 1.98%, 14%, 15.59% respectively).

Chairman and CEO George Gleason said, “we are very pleased to report our excellent results for the first quarter of 2017, including quarterly records in net income, diluted earnings per common share and trust income, $612m growth in the funded balance of non-purchased loans and leases, $1.19bn growth in the unfunded balance of non-purchases loans and leases, a 4.88% net interest margin, a 35% efficiency ratio and excellent asset quality”.

Domenico Daniele

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