Bank of the Ozarks defends its aggressive CRE strategy — again

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Grant Williams: Briffits & Squeans, Blurgits & Plewds. – (Forbes, October 22, 2018): Bank OZK lost more than a quarter of its value on Friday after the Arkansas- based lender (formerly known as Bank of the Ozarks) wrote off about $46 million in commercial real estate loans on two unrelated projects in North Carolina and South Carolina.

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FDIC: Failed Bank Information – Bank Closing Information for. – TO COMMUNITY BANCSHARES OF THE OZARKS, INC. INVESTORS. All shares of Community Bank of the Ozarks were owned by its holding company, Community Bancshares of the Ozarks, Inc., Sunrise Beach, MO. The holding company was not included in the closing of the bank or the resulting receivership.

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Bank of the Ozarks defends its aggressive CRE strategy – again. CRE has been very good for Bank of the Ozarks, which reported record earnings of $422 million last year. The company’s real estate specialties group originated a record $9.1 billion in loans in 2017, and management expects higher numbers in coming years.

29.9 percent of the bank’s $950.8 million in total assets at closing. First Chicago failed because its Board of Directors and management did not adequately control the risks associated with the bank’s aggressive lending strategy, which focused on commercial real estate (CRE) loans, including construction, land, and land development (CLD) loans.

Bank of the Ozarks (OZRK): The Story of Intelligent Fanatic. – Bank of the Ozarks (OZRK): The Story of Intelligent Fanatic George Gleason. The 25 year old former attorney had zero banking experience and only $10,000, but was able to convince a Little Rock Arkansas bank to help finance the $3.6 million purchase of Bank of the Ozarks ( OZRK ). It didn’t matter that Gleason had zero banking experience.