LONDON, UK / ACCESSWIRE / October 16, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Bank of the Ozarks (NASDAQ: OZRK) ("Ozarks"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=OZRK, following the Company's disclosure of its financial results on October 11, 2017, for the third quarter of the fiscal year 2017. Ozarks' deposits increased 11.2% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on OZRK. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=OZRK.

Earnings Reviewed

For the three months ended September 30, 2017, Ozarks' net revenue increased 18.6% to $242.4 million on a y-o-y basis. The revenue was below analysts' expectations of $244.0 million.

During Q3 FY17, the Company's net interest income increased 19.7% to $209.72 million from $175.15 million in Q3 FY16. For the reported quarter, the Company's net interest margin decreased 6 basis points to 4.84% of revenue from 4.90% of revenue in Q3 FY16.
During Q3 FY17, Ozarks' non-interest income increased 12% to $32.75 million from $29.23 million in the same period of last year.
For the reported quarter, Ozarks' amortization expenses increased 21.1% to $3.15 million from $2.60 million in Q3 FY16. During Q3 FY17, the Company's net occupancy expenses increased 16.5% to $13.60 million from $11.67 million in Q3 FY16. For the reported quarter, the Company's salaries and employee benefits expenses decreased 7.1% to $35.33 million from $38.07 million in Q3 FY16. For the reported quarter, the Company's total non-interest expenses increased 7.1% to $84.40 million from $78.78 million in Q3 FY16.

During Q3 FY17, Ozarks' net income increased 26.3% to a record $96.01 million on a y-o-y basis from $76.03 million in Q3 FY16. For the reported quarter, the Company's diluted earnings per share (EPS) increased 13.6% to $0.75 on a y-o-y basis from $0.66 in the same period of last year. The diluted EPS surpassed analysts' expectations of $0.74.

Asset Quality

During Q3 FY17, Ozarks' total non-performing assets to total asset ratio, excluding purchased loans was 0.20% compared to 0.28% in the same period of last year.

For the reported quarter, the Company's net charge-offs for all loans and leases was 0.09% compared to 0.07% in Q3 FY16.

Balance Sheet

As on September 30, 2017, Ozarks' deposits increased 11.2% to $16.82 billion from $15.12 billion in Q3 FY16. The Company's total assets were $20.77 billion at September 30, 2017; a 12.6% increase from the total assets of $18.45 billion reported at September 30, 2016.

During Q3 FY17, the Company's investment securities increased 47.2% to $1.98 billion from $1.34 billion in the same period of last year.
During Q3 FY17, the Company's book value per share increased 14.4% to $26.02 from $22.07 in the same period of last year. For the reported quarter, Ozarks' tangible book value per share increased 21.9% to $20.46 from $16.79 in Q3 FY16.

During Q3 FY17, Ozarks' return on average assets ratio was 1.89% versus 1.80% in the same period of last year. The Bank's annualized returns on average assets, average common stockholders' equity, and average tangible common stockholders' equity were 1.89%, 11.56%, and 14.76%, respectively, for the reported quarter compared to 1.80%, 12.18%, and 16.01%, respectively, for the year ago corresponding period.

For the reported quarter, the Company's efficiency ratio was 34.38 compared to 38.07 in Q3 FY16.

On October 11, 2017, the Company's Board of Directors approved a regular quarterly cash dividend of $0.185 per common share payable October 20, 2017, to shareholders of record as of October 13, 2017.

Stock Performance

On Friday, October 13, 2017, the stock closed the trading session at $45.19, dropping 1.12% from its previous closing price of $45.70. A total volume of 970.35 thousand shares have exchanged hands. Bank of the Ozarks' stock price surged 4.20% in the last one month and 20.28% in the previous twelve months. The stock is trading at a PE ratio of 16.67 and has a dividend yield of 1.64%. The stock currently has a market cap of $5.86 billion.

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