Bank OZK

OZK

Equity

ISIN US06417N1037 / Valor 42805769

NASDAQ (2024-12-26)

USD 44.99+0.65%

Bank OZK
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About company

Bank OZK, formerly known as Bank of the Ozarks, is a financial institution that traces its roots back to 1903 as a small community bank in Jasper, Arkansas. Over the years, the bank has evolved and expanded, with a significant focus on real estate construction lending through its Real Estate Specialties Group. Bank OZK has become a prominent construction lender in the nation, originating high-quality construction loans on marquee real estate projects in major cities across America. With over $30 billion in assets, more than 2,700 employees, and over 240 offices in eight states, Bank OZK has established itself as a key player in the financial industry.

Summarized from source with an LLMView SourceSector: Finance

Pre-Provision Net Revenue Growth

Bank OZK reported a pre-provision net revenue (PPNR) of $834.6 million for the first nine months of 2024, marking an 8.4% increase from $769.9 million during the same period in 2023. This growth highlights the bank's ability to enhance its revenue before accounting for credit loss provisions.

Provision for Credit Losses

In the third quarter of 2024, Bank OZK's provision for credit losses was $46.4 million, compared to $44.0 million in the third quarter of 2023. For the first nine months of 2024, the provision was $138.4 million, up from $121.6 million in the same period of the previous year, reflecting a cautious approach to potential credit risks.

Asset and Equity Growth

As of September 30, 2024, Bank OZK's total assets reached $37.44 billion, a 14.3% increase from $32.77 billion a year earlier. Common stockholders’ equity also grew by 15.1% to $5.25 billion, indicating a strong capital position and growth in shareholder value.

Nonperforming Loans and Asset Quality

The ratio of nonperforming loans to total loans at Bank OZK was 0.60% as of September 30, 2024, up from 0.27% a year earlier. This increase in nonperforming loans suggests a slight deterioration in asset quality, although the bank maintains a robust allowance for credit losses.

Return on Equity Metrics

For the third quarter of 2024, Bank OZK reported an annualized return on average common stockholders’ equity of 13.65%, down from 14.81% in the third quarter of 2023. This decline reflects changes in profitability metrics, although the bank continues to deliver solid returns to its shareholders.

Summarized from source with an LLMView Source

Key figures

-11.4%1Y

-0.97%3Y

44.8%5Y

Performance

36.7%1Y

37.6%3Y

43.9%5Y

Volatility