Bank of the Ozarks intends to change its name to Bank OZK as part of a strategic rebranding. The Bank proposed the name change in its proxy materials for the 2018 annual meeting of shareholders to be held on May 7, 2018. The Bank’s shareholders will vote on the proposal at the annual meeting.
The Bank’s 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.”
Since going public in 1997, the Bank’s total assets have grown from $307 million to $21.3 billion as of December 31, 2017, and it has expanded to 254 offices in 10 states. The Bank’s Real Estate Specialties Group and Indirect Marine/RV Lending Division serve customers throughout major markets across the United States.