Bank OZK reports recurring developments relevant to its 4.625% Series A Non-Cumulative Perpetual Preferred Stock, including quarterly preferred dividend declarations, common stock dividend actions, and periodic earnings releases. The bank is a regional banking company established in 1903, with banking operations across Arkansas, Georgia, Florida, Texas, North Carolina, Tennessee, New York, California, and Mississippi.
Company updates also cover loan and deposit growth, net interest income, asset quality, capital ratios, management comments, financial supplements, and conference-call scheduling. Bank OZK provides deposit accounts, real estate, consumer, commercial and industrial loans, trust and wealth management, financial planning, online banking, and related banking services.
Bank OZK (Nasdaq: OZK) reported record second quarter 2024 earnings with net income available to common stockholders reaching $173.5 million, a 3.3% increase from Q2 2023. Diluted earnings per share rose 3.4% to $1.52. The bank's pre-tax pre-provision net revenue (PPNR) increased by 7.7% to $279.3 million. Total loans grew 21.5% to $28.67 billion, while deposits increased 24.9% to $29.94 billion. The bank's asset quality remained strong, with a nonperforming non-purchased loans to total loans ratio of 0.28%. Additionally, Bank OZK announced a $200 million stock repurchase program through July 1, 2025.
Bank OZK (Nasdaq: OZK) has released its second quarter and first six months 2024 management comments, now available on the Bank's investor relations website. As of June 30, 2024, Bank OZK reported total assets of $36.84 billion. The regional bank operates in approximately 240 offices across nine states, including Arkansas, Georgia, Florida, North Carolina, Tennessee, Texas, New York, California, and Mississippi.
Bank OZK, established in 1903, focuses on providing innovative financial solutions delivered by expert bankers. The Bank files regular reports with the Federal Deposit Insurance (FDIC), which are accessible on the FDIC's website and the Bank's investor relations page. Investors can sign up for automated email alerts for these materials on the Bank's website.
Bank OZK (Nasdaq: OZK) announced its 56th consecutive quarterly increase in its common stock dividend. The new dividend is $0.40 per share, up 2.56% from the previous quarter, payable on July 19, 2024, to shareholders of record on July 12, 2024. The Board also declared a $0.28906 per share dividend on its 4.625% Series A Non-Cumulative Perpetual Preferred Stock (Nasdaq: OZKAP) for the period May 15, 2024, to August 15, 2024, payable on August 15, 2024, to holders of record on August 1, 2024.
Bank OZK is part of the S&P High Yield Dividend Aristocrats® index since January 2018, recognizing its 20-year streak of increasing dividends. As of March 31, 2024, the bank operates 240 offices across eight states and holds $36.03 billion in assets.
Bank OZK (Nasdaq: OZK) announced that it will report its second quarter 2024 earnings on Wednesday, July 17, 2024, after the market closes. Management's comments will be released simultaneously and made available on the Bank's investor relations website. A conference call to discuss the earnings and address questions will be held the next day, Thursday, July 18, 2024, at 10:00 a.m. CT (11:00 a.m. ET). Interested parties can access the live webcast or participate via telephone by registering online. A replay of the conference call will be available on the Bank's website for at least 30 days.
As of March 31, 2024, Bank OZK operates approximately 240 offices across eight states with total assets of $36.03 billion.
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