share (1) 41.48 40.49 2.4
Weighted-average
diluted shares
outstanding
(thousands) 114,101 114,031 0.1
End of period
shares
outstanding
(thousands) 113,458 113,450 --
Balance sheet data at
period end:
---------------------
Total assets $ 38,258,852 $ 37,441,804 2.2%
Loans 29,968,867 29,218,144 2.6
Allowance for
loan losses 465,547 420,058 10.8
Foreclosed assets 69,381 77,949 (11.0)
Investment
securities --
AFS 2,836,150 2,952,022 (3.9)
Deposits 31,043,072 30,571,613 1.5
Other borrowings 420,813 151,035 178.6
Unfunded loan
commitments 19,078,633 19,307,972 (1.2)
Reserve for
losses on
unfunded loan
commitments 153,813 174,479 (11.8)
Total common
stockholders'
equity (1) 5,366,643 5,253,879 2.1
Total tangible
common
stockholders'
equity (1) 4,705,854 4,593,090 2.5
Accumulated other
comprehensive
loss (76,136) (51,957)
Loan to deposit
ratio 96.54% 95.57%
Selected ratios:
---------------------
Return on average
assets (2) 1.87% 1.90%
Return on average
common
stockholders'
equity (1) (2) 13.33 13.65
Return on average
tangible common
stockholders'
equity (1) (2) 15.22 15.65
Total tangible
common
stockholders'
equity to total
tangible assets
(1) 12.52 12.49
Net interest
margin -- FTE
(2) 4.33 4.55
Efficiency ratio 33.71 32.95
Net charge-offs
to average loans
(2) 0.16 0.36
Nonperforming
loans to loans 0.44 0.60
Nonperforming
assets to total
assets 0.53 0.68
Allowance for
loan losses to
loans 1.55 1.44
Allowance for
credit losses to
loans and
unfunded loan
commitments 1.26 1.23
Other information:
---------------------
Non-accrual loans $ 131,494 $ 175,665
(1) Calculations of pre-tax pre-provision net revenue, total common stockholders' equity, tangible book value per common share and returns on average common stockholders' equity and average tangible common stockholders' equity, total tangible common stockholders' equity to total tangible assets and the reconciliations to GAAP are included in the schedules accompanying this release.
(2) Ratios for interim periods annualized based on actual days.
Bank OZK
Supplemental Quarterly Financial Data
Unaudited
12/31/24 9/30/24 6/30/24 3/31/24 12/31/23
--------------- --------------- --------------- --------------- ---------------
(Dollars in thousands, except per share amounts)
Earnings summary:
-------------------
Net interest
income $ 379,398 $ 389,398 $ 387,994 $ 376,934 $ 370,548
Federal tax
(FTE)
adjustment 3,324 3,151 3,037 3,030 2,925
---------- ---------- ---------- ---------- ----------
Net interest
income (FTE) 382,722 392,549 391,031 379,964 373,473
Provision for
credit losses (37,174) (46,443) (49,012) (42,923) (43,832)
Non-interest
income 32,942 33,605 28,782 29,084 37,027
Non-interest
expense (140,127) (140,401) (137,451) (133,314) (145,011)
---------- ---------- ---------- ---------- ----------
Pre-tax income
(FTE) 238,363 239,310 233,350 232,811 221,657
FTE adjustment (3,324) (3,151) (3,037) (3,030) (2,925)
Provision for
income taxes (52,831) (54,953) (52,778) (54,226) (43,600)
Noncontrolling
interest (26) (12) 8 (18) (6)
Preferred stock
dividend (4,047) (4,047) (4,047) (4,047) (4,047)
---------- ---------- ---------- ---------- ----------
Net income
available to
common
stockholders $ 178,135 $ 177,147 $ 173,496 $ 171,490 $ 171,079
========== ========== ========== ========== ==========
Earnings per
common share
-- diluted $ 1.56 $ 1.55 $ 1.52 $ 1.51 $ 1.50
Pre-tax
pre-provision
net revenue
(1) $ 272,213 $ 282,602 $ 279,325 $ 272,704 $ 262,564
Selected balance
sheet data at
period end:
-------------------
Total assets $38,258,852 $37,441,804 $36,836,173 $36,029,904 $34,237,457
Loans 29,968,867 29,218,144 28,673,685 28,031,348 26,459,075
Investment
securities --
AFS 2,836,150 2,952,022 2,981,929 3,072,391 3,244,371
Deposits 31,043,072 30,571,613 29,943,663 29,406,070 27,405,143
Unfunded loan
commitments 19,078,633 19,307,972 19,737,557 20,458,796 20,561,029
Allowance for
credit losses:
-------------------
Balance at
beginning of
period $ 594,537 $ 574,101 $ 536,887 $ 501,228 $ 461,486
Net charge-offs (12,351) (26,007) (11,798) (7,264) (4,090)
Provision for
credit losses 37,174 46,443 49,012 42,923 43,832
---------- ---------- ---------- ---------- ----------
Balance at
end of
period $ 619,360 $ 594,537 $ 574,101 $ 536,887 $ 501,228
========== ========== ========== ========== ==========
Allowance for
loan losses $ 465,547 $ 420,058 $ 407,079 $ 365,935 $ 339,394
Reserve for
losses on
unfunded loan
commitments 153,813 174,479 167,022 170,952 161,834
---------- ---------- ---------- ---------- ----------
Total
allowance
for credit
losses $ 619,360 $ 594,537 $ 574,101 $ 536,887 $ 501,228
========== ========== ========== ========== ==========
Selected ratios:
-------------------
Net interest
margin -- FTE
(2) 4.33% 4.55% 4.68% 4.71% 4.82%
Efficiency
ratio 33.71 32.95 32.74 32.59 35.33
Net charge-offs
to average
loans (2) 0.16 0.36 0.17 0.11 0.06
Nonperforming
loans to
loans 0.44 0.60 0.30 0.22 0.25
Nonperforming
assets to
total assets 0.53 0.68 0.42 0.34 0.38
Allowance for
loan losses to
loans 1.55 1.44 1.42 1.31 1.28
Allowance for
credit losses
to loans and
unfunded loan
commitments 1.26 1.23 1.19 1.11 1.07
Loans past due
30 days or
more,
including past
due
non-accrual
loans, to
total loans 0.17 0.14 0.17 0.18 0.21
(1) Calculations of pre-tax pre-provision net revenue and the reconciliation to GAAP are included in the schedules accompanying this release.
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