Bank of the Ozarks (NASDAQ: OZRK) announced today that it intends to change its name to Bank OZK as part of a strategic rebranding. The bank has proposed the name change in its proxy materials for the 2018 annual meeting of shareholders to be held on May 7, 2018.
Bank of the Ozarks’ presence and brand have evolved in recent decades from an Arkansas community bank into a much larger regional bank with nationwide lending businesses. The bank believes the new name will be beneficial in achieving its long-term objectives, including continued growth and expansion in new markets.
George Gleason, Chairman and Chief Executive Officer, stated, “Bank OZK is a new name reflecting both our rich heritage and history and our commitment to be a leader in technology and innovation as we expand across the United States. Bank OZK retains the brand equity we have developed over our 115-year history and our 21 years of outstanding performance as a public company. At the same time, it frees us from the limitations of a name tied to a specific geographic region.”
Read the full press release here or visit www.ozk.com for more information.