Bank OZK (OZK) Misses Q1 EPS by 52c

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Go back to Bank OZK (OZK) Misses Q1 EPS by 52c

Bank OZK Announces First Quarter 2020 Earnings

April 23, 2020 4:01 PM EDT

LITTLE ROCK, Ark., April 23, 2020 (GLOBE NEWSWIRE) -- Bank OZK (the Bank) (Nasdaq: OZK) today announced that net income for the first quarter of 2020 was $11.9 million, an 89.3% decrease from $110.7 million for the first quarter of 2019.  Diluted earnings per common share for the first quarter of 2020 were $0.09, an 89.5% decrease from $0.86 for the first quarter of 2019.

The COVID-19 pandemic significantly impacted the global economy in what was the first quarter of implementation of the current expected credit losses (CECL) method to calculate the Banks allowance for credit losses (ACL).  During the quarter just ended, the sudden and severe... More