Bank OZK (OZK) Tops Q1 EPS by 28c

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Go back to Bank OZK (OZK) Tops Q1 EPS by 28c

Bank OZK Announces Record First Quarter 2021 Earnings

April 22, 2021 4:01 PM EDT

LITTLE ROCK, Ark., April 22, 2021 (GLOBE NEWSWIRE) -- Bank OZK (the Bank) (Nasdaq: OZK) today announced that net income for the first quarter of 2021 was a record $148.4 million compared to $11.9 million for the first quarter of 2020. Diluted earnings per common share for the first quarter of 2021 were $1.14 compared to $0.09 for the first quarter of 2020.

As a result of improving economic conditions, management recorded negative provision for credit losses of $31.6 million during the first quarter of 2021, reducing the Banks total allowance for credit losses (ACL) from $377.3 million at December 31, 2020 to $342.3 million at March 31, 2021. The Banks provision... More