This morning, Bank of the Ozarks reported record income of $76.0 million for the third quarter 2016. This marks a 64.8% increase over net income of $46.1 million for the third quarter of 2015.
For the nine months ended September 30, 2016, net income totaled $182.2 million, an increase of 39.3% over net income of $130.8 million for the first nine months of 2015.
George Gleason, Chairman and Chief Executive Officer, stated:
We are very pleased to report our record third quarter results with our two recent acquisitions included. These transactions bring many strategic benefits to our Company and significant value to our shareholders from the resulting accretion in book value, tangible book value and earnings per common share. We had an excellent quarter, and the value of these acquisitions, the strength of our organic growth and our pristine asset quality were all clearly on display.
You can download the full Bank of the Ozarks third quarter 2016 earnings report HERE.