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Bank of the Ozarks, Inc. Message Board

  • CJPCMan2 CJPCMan2 Oct 10, 2000 9:28 AM Flag

    Gleason says bad news is over...

    Note: Article points out that the book value is now
    12.50 per share.

    Quote from Gleason in

    George Gleason, Chairman and Chief Executive Officer,
    stated ``While we are very disappointed with our third
    quarter results, it is important to keep in mind that our
    increased provision to the allowance for loan losses was
    primarily a result of loans to a single borrower. This
    credit is an unusual situation and we believe our
    overall loan quality continues to be very good. We
    believe we have recognized our loss on this credit and do
    not presently foresee any adverse asset quality
    trends developing. In fact, our ratio of non-performing
    loans to total loans is the most favorable ratio we
    have reported in over ten quarters and our ratio of
    past due loans at September 30, 2000 is the most
    favorable ratio we have had at the end of any quarter since
    becoming a public company in 1997. During the third
    quarter we continued to grow our core customer base
    achieving solid loan and deposit growth. We are pleased to
    report record non-interest income during the third
    quarter, led by improved mortgage lending and trust income
    compared to the previous quarter. Our efforts to grow and
    diversify our sources of non-interest income are achieving
    good results. The third quarter was difficult, but we
    are continuing to build and improve our franchise
    with a goal of creating long-term shareholder value.''

38.40+0.90(+2.40%)Sep 30 4:00 PMEDT