Bank OZK Reports Record Earnings for 2024

Bank Ozk ( (OZK) ) has released its Q4 earnings. Here is a breakdown of the information Bank Ozk presented to its investors.

Bank OZK is a regional bank providing financial solutions through more than 240 offices across nine states in the U.S., with a focus on consistent growth and innovative banking services. The bank recently announced record earnings for the fourth quarter and full year of 2024, achieving its ninth consecutive quarterly record for net income and earnings per share. Bank OZK reported a net income available to common stockholders of $178.1 million for the fourth quarter of 2024, a 4.1% increase from the same period in 2023. Full-year net income stood at $700.3 million, marking a 3.8% increase from the previous year. The bank also saw a 4.6% rise in diluted earnings per share for the year.

Key financial highlights include a 13.3% growth in loans and deposits, reaching $29.97 billion and $31.04 billion respectively by the end of 2024. The bank’s total assets increased by 11.7% to $38.26 billion. Despite a slight decrease in pre-tax pre-provision net revenue from the third quarter, the annual figure reached a record $1.11 billion, a 7.2% increase year-over-year. The provision for credit losses rose slightly to $175.6 million for the year.

Bank OZK’s asset quality remained stable with a slight increase in nonperforming loans to a ratio of 0.44%, and an allowance for credit losses of $619.4 million, up by 23.6% from 2023. The bank maintained strong capital ratios, with a tangible book value per common share increasing by 13.4% to $41.48.

Looking ahead, the bank’s management remains optimistic about continuing its trajectory of record earnings while focusing on maintaining sound asset quality. This strategic focus is expected to support further growth and expansion across its operating regions.