Subordinated Debt Offering

Presentation

June 2016

Issuer Free Writing Prospectus

Dated June 13, 2016

Filed pursuant to Rule 433

Registration Statement No. 333-203388

2

Forward-Looking Information

This slide presentation and certain of our other filings with the Securities and Exchange Commission (“SEC”) contain statements that constitute “forward-looking statements” within

the meaning of, and  subject to the protections of, Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. All statements other

than statements of historical fact are forward-looking statements. Forward-looking statements are subject to various risks and uncertainties, which change over time, are based on

management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Actual future performance, outcomes and results may

differ materially from those expressed in or contemplated by these forward-looking statements due to certain risks, uncertainties and assumptions, many of which are beyond our

ability to control or predict. Certain factors that may affect our future results include, but are not limited to: potential delays or other problems in implementing our growth and

expansion strategy including delays in identifying satisfactory sites, hiring or retaining qualified personnel, obtaining regulatory or other approvals, obtaining permits and designing,

constructing and opening new offices; the ability to identify, enter into and/or close additional acquisitions; problems with, or additional expenses related to, obtaining regulatory

approval of or integrating or managing pending acquisitions; the effect of the announcements or completion of any pending or future mergers or acquisitions on customer

relationships and operating results; the ability to attract new or retain existing or acquired deposits, or to retain or grow loans and leases, including growth from unfunded closed

loans; the ability to generate future revenue growth or to control future growth in non-interest expense; interest rate fluctuations, including changes in the yield curve between

short-term and long-term interest rates; deterioration of the credit quality of our loan and lease portfolio, increased default rates and loan or lease losses or adverse changes in

particular loans in our portfolio or in specific industry concentrations of our loan and lease portfolio; loss of access to capital market transactions and other sources of funding, or a

failure to effectively balance our funding sources with cash demands by depositors and borrowers; our ability or inability to receive dividends from our bank subsidiary, which could

affect our liquidity, including our ability to pay dividends, satisfy our debt service obligations under the Notes or other debt obligations, or take other capital actions; failures of

counterparties or third party vendors to perform their obligations; failure of our risk management strategies and procedures, including failure or circumvention of our controls;

competitive factors and pricing pressures, including their effect on our net interest margin; general economic, unemployment, credit market and real estate market conditions, and

the effect of any such conditions on the creditworthiness of borrowers and lessees, collateral values, the value of investment securities and asset recovery values; changes in

legal and regulatory requirements, including additional legal, financial and regulatory requirements to which we are subject as a result of our total assets exceeding $10 billion;

recently enacted and potential legislation and regulatory actions, including legislation and regulatory actions intended to stabilize economic conditions and credit markets,

strengthen the capital of financial institutions, increase regulation of the financial services industry and protect homeowners or consumers; changes in U.S. government monetary

and fiscal policy; possible further downgrade of U.S. Treasury securities; the ability to keep pace with technological changes, including changes regarding maintaining

cybersecurity and preventing or responding to breaches in our security systems involving our customer and sensitive and confidential data; an increase in the incidence or severity

of fraud, illegal payments, security breaches or other illegal acts impacting our customers; adoption of new accounting standards or changes in existing standards; a failure to

satisfy conditions to our pending acquisitions of Community & Southern Holdings, Inc. and/or C1 Financial, Inc. (the “Mergers”), including but not limited to receipt of approval from

the Federal Reserve Bank of the Mergers, in each case on the proposed terms and within the proposed timeframe including, without limitation, delays in closing the Mergers;

adverse reaction to the Mergers by the customers or employees of Community & Southern Holdings, Inc. or C1 Financial, Inc.; the inability following the Mergers to successfully

integrate the operations of Community & Southern Holdings, Inc. and C1 Financial, Inc. into our existing operations; the diversion of management’s time on issues relating to the

Mergers; the inability to realize expected cost savings and synergies from the Mergers, or other past or future acquisitions, in the amounts or in the timeframe anticipated; and

adverse results in current or future litigation or regulatory examinations as well as other factors described in the other reports we file with the SEC, including those factors included

in the disclosures under the heading “Forward-Looking Information” and “Item 1A. Risk Factors” in our most recent Annual Report on Form 10-K for the year ended December 31,

2015. Should one or more of the foregoing risks materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those

described in the forward-looking statements.

3

Registration Statement

The Company has filed a registration statement (File No. 333-203388) (including a base prospectus) and related preliminary prospectus supplement dated

June 13, 2016 with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration

statement, the related preliminary prospectus supplement and other documents the Company has filed with the SEC for more complete information about

the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company,

the underwriter or any dealer participating in the offering will arrange to send you the base prospectus and the related preliminary prospectus supplement if

you request it by calling Sandler O’Neill + Partners, L.P. toll-free at 1-866-805-4128.

Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined if this free writing prospectus, or any

related prospectus supplement or prospectus, is truthful or complete.  Any representation to the contrary is a criminal offense.

Use of Non-GAAP Financial Measures

This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting

principles.  We use non-GAAP financial measures, specifically return on average tangible common stockholders’ equity, as important measures of the

strength of our capital and our ability to generate earnings on tangible common equity invested by our shareholders. We believe presentation of these non-

GAAP financial measures provides useful supplemental information that contributes to a proper understanding of our financial results and capital levels.

These non-GAAP disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily

comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP financial measures to the

most directly comparable GAAP financial measures are included in the Appendix to this slide presentation.

4

Proposed Offering

•

Issuer:

Bank of the Ozarks,

Inc. (“OZRK”)

•

Security:

Fixed-to-Floating Subordinated Notes due 2026

•

Credit Rating:

Kroll Bond Rating:

BBB / Egan-Jones Rating

(1):

A-

•

Term:

10 years

•

Optional Redemption:

Optional

redemption 5 years after issuance date

•

Covenants:

Consistent with regulatory requirements for Tier 2

Capital

•

Use of proceeds:

Contribute net proceeds into its

subsidiary bank to fund further

growth and for general corporate purposes

•

Expected

Pricing:

Week of June

13, 2016

•

Lead Manager:

Sandler

O’Neill + Partners, L.P.

(1) Expected rating

2010

2011

2012

2013

2014

2015

2016

1998

2001

2003

2004

2005

2006

2008

Completes four

FDIC-assisted

acquisitions in

Georgia, Florida,

Alabama, South

Carolina and

North Carolina

Newton County

Bank chartered

in Jasper, AR

1903

1937

1979

1983

1994

1995

1997

Completes three

FDIC-assisted

acquisitions in

Georgia and Florida

Begins de novo

expansion in

Texas with an

emphasis on

Metro Dallas

Becomes $3 billion

organization

based on assets;

Opens new

headquarters in

Little Rock, AR

Becomes

$2 billion

organization

based on assets

Begins

expansion in

Arkansas’ three

largest cities

Bank of Ozark

chartered in

Ozark, AR

Gleason

purchases

Bank of Ozark

Gleason

purchases

Newton County

Bank; assumes

charter

Launches de

novo branching

plan; changes

name to Bank of

the Ozarks

Relocates

headquarters to

Little Rock, AR

Bank of the

Ozarks, Inc. holds

initial public stock

offering (OZRK)

Opened

Charlotte, NC

LPO

RESG and

Leasing

divisions

established

Opens 11

new offices, a

company

record

Completes

acquisition of

The Citizens

Bank in Alabama

Completes

acquisitions of

OMNIBANK in

Texas and Summit

Bank in Arkansas

Completes

acquisition of

First National

Bank in Shelby,

North Carolina

Completes

acquisitions of

Intervest National 

Bank in New York

and Florida and Bank

of the Carolinas in

North Carolina

History

5

Becomes a $10 billion

organization based on

assets. C1 Financial

acquisition in Florida and

Community & Southern

acquisition in Georgia and

Florida pending

6

Top Performing

Regional Bank,

SNL Financial

April 2016

A Tradition of High Performance

Top Performing Bank

ABA Banking Journal,

April 2011

Top Performing Bank

ABA Banking Journal,

April 2012

Top Performing Regional Bank

SNL Financial,

April 2012

Top Performing Bank

Bank Director Magazine,

August 2013

Community Banker of the Year

American Banker,

December 2010

Top Performing Bank

Bank Director Magazine,

August 2014

Top Performing

Regional Bank

SNL Financial,

April 2015

Top Performing Bank

Bank Director Magazine,

August 2015

Top Performing Bank and Top Performing Regional Bank rankings based on

asset size categories. 

7

Key Operating Metrics

Capital Adequacy ($ thousands)

12/31/10

12/31/11

12/31/12

12/31/13

12/31/14

12/31/15

3/31/16

Tier 1 Capital

$375,597

$466,017

$548,054

$676,574

$851,681

$1,417,940

$1,448,298

Tier 1 Leverage Ratio

11.88%

12.06%

14.40%

14.19%

12.92%

14.96%

14.05%

Common equity Tier 1

13.43%

15.28%

16.22%

14.56%

10.87%

10.79%

10.08%

Tier 1 Risk-Based Capital Ratio

16.13%

17.67%

18.11%

16.15%

11.74%

11.62%

10.89%

Total Risk-Based Capital Ratio

17.39%

18.93%

19.36%

17.18%

12.47%

12.12%

11.35%

Returns ($ thousands)

12/31/10

12/31/11

12/31/12

12/31/13

12/31/14

12/31/15

Quarter Ended

3/31/16

Total Assets

$3,273,271

$3,841,651

$4,040,207

$4,791,170

$6,766,499

$9,879,459

$11,427,419

Average Assets

$2,998,850

$3,755,291

$3,779,831

$4,270,052

$5,913,807

$8,621,334

$10,492,707

Return on Average Assets

2.13%

2.70%

2.04%

2.14%

2.01%

2.11%

1.98%

Return on Tangible Common Equity

(1)

22.12%

27.79%

17.25%

16.73%

16.64%

17.02%

15.59%

Other Metrics ($ thousands)

12/31/10

12/31/11

12/31/12

12/31/13

12/31/14

12/31/15

Quarter Ended

3/31/16

Total Deposits

$2,540,753

$2,943,919

$3,101,055

$3,717,027

$5,496,382

$7,971,468

$9,626,825

NIM

5.18%

5.84%

5.91%

5.63%

5.52%

5.19%

4.92%

Efficiency Ratio

42.86%

41.56%

46.58%

45.32%

45.35%

38.45%

35.51%

Common stock dividend payout ratio

15.89%

12.50%

22.44%

29.55%

30.46%

25.83%

26.31%

(1) Non-GAAP financial measure.  See Appendix for reconciliation to GAAP.

8

Portion of after tax net income attributed to bargain purchase gains, net of acquisition and conversion costs, of $1.1 million in 2012 and $4.3 million in 2013. 

Portion of after tax net income attributed to bargain purchase gains on FDIC-assisted transactions, net of acquisition and

conversion costs, of $19.0 million in 2010 and $36.1

million in 2011.

$0.0

$50.0

$100.0

$150.0

$200.0

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

3M

2015

3M

2016

4.5

5.6

6.6

6.0

9.0

14.4

20.2

25.9

31.5

31.7

31.7

34.5

36.8

101.3

91.2

118.6

182.3

39.9

51.7

A Track Record of Solid Earnings Growth

53.7% Increase

a

b

c

29.6%

Increase

b

Includes after tax net income of <$2.1> million for 2015 attributed to bank owned life insurance death benefits, net gains on

sales of investment securities and gains on sales of

certain purchased loans, net of prepayment penalties on FHLB advances, SPG consolidation severance costs, acquisition and conversion costs and software contract

termination charges.

c

Includes after tax net income of $1.1 million for Q1 2015 attributed to bank owned life insurance benefits, net gains on sales of investment securities, net of prepayment penalties

on FHLB advances, acquisition and conversion costs and software contract termination charges.

d

Includes after tax net income of <$0.6> million for Q1 2016 attributed to acquisition and conversion costs and software contract

termination charges. 

a

Includes after tax net income of <$2.1> million for 2014 attributed to gain on termination of FDIC loss share agreements and bargain purchase gains, net of acquisition and

conversion costs, software contract termination charges, prepayment penalties on FHLB advances, and losses attributable to The Home Depot system breach.

•

Record net income in 16 of 19 years

as a public company.

•

37 years under current leadership.

Net Income ($ in Millions)

Red bars denote record annual results.

d

64.0

77.0

9

2008

2009

2010

2011

2012

2013

2014

2015

3M

2016

1.14

1.23

2.13

2.70

2.04

2.14

2.01

2.11

1.98

0.03

-0.08

0.65

0.88

1.00

1.07

1.01

1.04

0.97

Bank of the Ozarks, Inc. ROAA

FDIC*

2008

2009

2010

2011

2012

2013

2014

2015

3M 2016

16.16

13.75

21.62

27.04

16.80

16.28

15.08

14.97

14.00

16.61

14.05

22.12

27.79

17.25

16.73

16.64

17.02

15.59

0.35

-0.73

5.85

7.79

8.90

9.54

9.01

9.30

8.62

Bank of the Ozarks, Inc. ROAE

Bank of the Ozarks, Inc. ROATE

FDIC*

ROAE & ROATE (%)

*Data for all FDIC insured institutions from the FDIC Quarterly Banking  

Profile, last update first quarter 2016.  Annualized when appropriate.

Calculations of return on average tangible common stockholders’ equity and

the reconciliations to GAAP are included in the Appendix at the end of this

presentation.

The Rewards of:

Discipline  

An Ability to Capitalize on Opportunities  

Hard Work

ROAA (%)

10

Our Business Strategy

The Company seeks to maximize long-term stakeholder value through year-to-year growth in earning assets

(loans, leases, and investments), deposits, net income and earnings per share in a manner consistent with

safe, sound and prudent banking practices. 

Organic Growth Engines:

•

Real Estate Specialties Group

(“RESG”) –

is the growth engine which has contributed the majority of

our non-purchased loan growth in recent years.  RESG handles the Company’s larger and more complex

real estate loans. Given RESG’s current growth trajectory and our expected future expansion plans for

RESG, we believe RESG will continue to be our strongest engine for non-purchased loan growth for

years to come. 

•

Community

Banking

–

in

our

vast

network

of

community

banking

offices

across

seven

states

(AR,

TX,

GA, NC, FL, AL and SC).

•

Leasing Division

-

Our Leasing Division has operated as a small, but consistently high performing part

of our Company since 2003.

•

Corporate

Loan

Specialties

Group

(“CLSG”)

-

CLSG

opened

in

January

2014.

This

unit

is

focused

on

developing a small but high quality portfolio of Shared National Credits.

•

Investment

Securities

Portfolio

-

In

recent

years,

we

have

been

very

defensive

in

managing

our

investment portfolio, and we have maintained its size near the minimum level needed to manage our

balance sheet.  We expect to increase the size of our investment portfolio in coming quarters as part of

our strategy to hold more liquidity on our balance sheet, and we expect to significantly increase the size

of our investment portfolio in the future when interest rate conditions make it advantageous to do so. 

11

Our Business Strategy -

continued

The geographic and product diversity of and within these different growth engines are

significant factors to achieving our excellent asset quality and planned growth in earning

assets (loans, leases, and investments) apart from acquisitions. 

Furthermore, we have designed and strive to execute our business plan for each growth

engine in ways intended to achieve much better than average yields with much lower than

average risk. 

Organic growth in loans, leases and deposits is always our #1 growth priority.

Acquisitions are optional and “icing on the cake.” While we have closed 13 acquisitions in

the past six years, loans acquired in those acquisitions accounted for only $1.68 billion, or

18%, of our total $9.27 billion loans and leases at March 31, 2016.

12

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

3M

2016

0.36

0.24

0.22

0.20

0.10

0.11

0.12

0.24

0.45

1.75

0.81

0.69

0.30

0.14

0.12

0.18

0.06

0.59

0.83

0.97

0.78

0.56

0.49

0.39

0.59

1.29

2.52

2.55

1.55

1.10

0.69

0.49

0.44

0.46

Bank of the Ozarks, Inc.*

FDIC Insured Institutions**

* Bank of the Ozarks’ data excludes purchased loans and net charge-offs related to such loans.

** Data for all FDIC insured institutions from the FDIC Quarterly Banking Profile, last update first quarter 2016.

Annualized when appropriate.

From 2000 through 2015, our net charge-off

ratio was 38% of industry average.

History of Net Charge-Offs Well Below Industry Average

Since going public in 1997, our annual net

charge-off ratio has been below the industry

average every year.

Q1 2016 Net Charge-Off

Ratios Annualized:

Non-purchased loans 0.06%

Purchased loans 0.00%

Total loans 0.05%

13

Recent History of Credit Quality

Year Ended December 31,

Quarter

Ended

2011

2012

2013

2014

2015

3/31/2016

Asset quality ratios:

Net

charge-offs

to

average

loans

and

leases

(1)

0.69%

0.30%

0.14%

0.12%

0.18%

0.06%

Nonperforming loans and leases to total loans

and leases

(2)

0.70%

0.43%

0.33%

0.53%

0.20%

0.15%

Nonperforming

assets

to

total

assets

(2)

3.07%

1.88%

1.22%

0.87%

0.37%

0.29%

Allowance for loan and lease losses as a

percentage of:

Non-purchased loans and leases

(3)

2.08%

1.83%

1.63%

1.33%

0.91%

0.80%

Nonperforming loans and leases

(3)

297%

425%

492%

251%

452%

532%

(1) Excludes purchased loans and net charge-offs related to such loans.

(2) Excludes purchased loans, except for their inclusion in total assets.

(3) Excludes purchased loans and ALLL for such loans.

14

Strong Credit Culture and Underwriting Fundamentals

•

Bank of the Ozarks has a well-defined credit culture that requires

consistently applied underwriting fundamentals.

•

Underwriting is thorough and independent and is based upon cash flow

(ability to repay) and collateral (ability to exit).

•

Managing Legal Lending Limits

•

Bank’s legal lending limit as of March 31, 2016 -

$300,496,041

•

Currently there are no loans at the legal lending limit

•

Our relentless pursuit of lower than average risk is shown in our history

of net charge-offs well below industry average on page 12.

•

Our ability to achieve much better than average yields while taking

lower than average risk is shown on pages 16 and 22.

15

Texas Ratio

2009

2010

2011

2012

2013

2014

2015

2016Q1

Texas Ratio

27.96%

24.75%

26.11%

14.21%

8.97%

6.88%

2.63%

2.37%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

16

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

2008

2009

2010

2011

2012

2013

2014

2015

3.96

4.80

5.18

5.84

5.91

5.63

5.52

5.19

* Data for all FDIC insured institutions for the three months ended March 31, 2016 from the FDIC Quarterly Banking Profile.

Favorable 1.82%

Variance vs

Industry at 3.10%*

Superb Net Interest Margin

Q1 2015

Q2 2015

Q3 2015

Q4 2015

Q1 2016

5.42

5.37

5.07

4.98

4.92

17

•

Profitable Deposit Mix (68.11% non-CD, 31.89% CD)*

•

Favorable Loan Yields on Legacy Portfolio

•

Outstanding Yield on our Portfolio of Purchased Loans (6.71%)**

•

Tradition of Maintaining High Quality, Good Yielding Investment Portfolio

OZRK**

Financial Institutions

Nationwide***

Tax-exempt (TE)

6.27%

Taxable

3.46%

Total (TE)

5.04%

2.35%

* Data as of March 31, 2016.

** Data for the three months ended March 31, 2016.

*** Data for all financial institutions nationwide from the FDIC Uniform Bank Performance Report for the year ended December 31,

2015.

Favorable

Variance vs

Industry

0.67%

2012

2013

2014

2015

1Q 2016

Financial

Institutions

Nationwide***

Loan Yield-Legacy

5.87%

5.48%

5.10%

5.00%

5.00%

4.33%

COIBD

0.38%

0.23%

0.23%

0.31%

0.44%

0.31%

Spread

5.49%

5.25%

4.87%

4.69%

4.56%

4.02%

Key Drivers of Net Interest Margin

2012

2013

2014

2015

1Q 2016

Loan Yield -

Purchased

8.78%

9.03%

8.94%

7.24%

6.71%

18

RESG Business Model Reduces Credit Risk

•

Focus on strong sponsors, as evidenced by

•

Strong liquidity

•

Strong capital

•

Significant expertise and experience

•

Focus on marquee projects

•

Focus on low leverage with substantial equity

•

Focus on defensive loan structures providing substantial protection

to the bank

•

An emphasis on excellence in documentation, closing and life-of-

loan asset management equivalent to the initial focus on

underwriting and transaction structure

19

Dan Thomas, Vice Chairman, Chief Lending Officer, RESG President

•

Dan Thomas, CPA, JD, LLM (Taxation)

•

RESG established in 2003 by Dan Thomas

Team Members: 86 as of 4/26/2016

Priorities:

•

Asset Quality–primary

•

Profitability–secondary

•

Growth–tertiary

RESG Loans at March 31, 2016

•

69% of our funded non-purchased loans

•

90% of our unfunded closed loans

•

79% of our total funded and unfunded balances of non-purchased loans

RESG Asset Quality

•

Two loans have incurred losses since inception of RESG in 2003

•

$10.4 million total credit losses since inception

•

Annualized loss ratio of 0.11% since inception

•

Leverage Ratio on Construction Loans with Interest Reserves*

*Our construction loans with interest reserves are primarily RESG loans.

Real Estate Specialties Group (RESG)

13 Year History of Annual Losses

Year-end

Ending

Portfolio Balance

Net charge-offs

("NCO")*

NCO Ratio

2003

$      

5,106,325

-

0.00%

2004

$      52,657,865

-

0.00%

2005

$      51,055,927

-

0.00%

2006

$      61,322,550

-

0.00%

2007

$    209,523,672

-

0.00%

2008

$    470,485,099

-

0.00%

2009

$    516,044,727

$

7,531,303

1.50%

2010

$    567,716,359

-

0.00%

2011

$    649,806,170

$

2,905,315

0.50%

2012

$    848,441,013

-

0.00%

2013

$ 1,270,767,688

-

0.00%

2014

$ 2,308,573,422

-

0.00%

2015

$ 4,263,799,976

-

0.00%

3/31/2016

$ 5,207,129,632

-

0.00%

Total

$

10,436,618

Average

$

745,473

0.11%

2005-2007 

Low 70% range Loan to Cost

High 60% range Loan to Value

March 31, 2016

50% Loan to Cost

44% Loan to Appraised Value

vs

* Net charge-offs presented in the table can be attributed to two loans

and includes ORE write-downs related to those two loans.

Our Primary Engine for Loan Growth

20

RESG Portfolio Details

An Emphasis on Diversification and Low Leverage

Property Type

Total Commitment

(Funded and

Unfunded)

Percentage of

RESG Portfolio

Loan to

Cost (LTC)

Loan to

Value

(LTV)

Condos

$     2,066,293,795

18.8%

44.0%

39.5%

Multi-family

1,951,503,524

17.7%

60.4%

51.2%

Hospitality

1,626,605,812

14.8%

47.8%

40.9%

Office / MOB

1,563,323,591

14.2%

52.7%

40.4%

Mixed Use

1,340,988,830

12.2%

48.4%

43.1%

Land Hold

1,003,892,775

9.1%

42.8%

37.7%

SF Lots

477,735,815

4.3%

45.4%

53.0%

Retail

452,917,318

4.1%

59.4%

54.9%

Land Development

351,241,532

3.2%

46.7%

42.8%

Industrial

108,083,387

1.0%

48.8%

46.8%

SF Homes

64,657,154

0.6%

69.2%

56.8%

Totals

$   11,007,243,533

100.0%

49.4%

43.1%

Data above is as of March 31, 2016.

Excludes: $289 million in total commitments co-managed by Community Banking and RESG.

•

No property type accounts

for more than 18.8% of

RESG’s portfolio

•

Weighted average LTC of

RESG’s portfolio is a very

conservative 49.4%

•

Weighted average LTV of

RESG’s portfolio is a very

conservative 43.1%

21

The amount of the Company’s total real estate loans at March 31, 2016 based on the state in

which the principal collateral is located is reflected in the table above.  Data for individual states is

separately presented when aggregate total real estate loans in that state exceed $10 million.

Total Real Estate Portfolio Diversification Reduces Credit Risk

Significant Diversification by both Geography and Product Type

The above tables include the amount and type of non-farm/non-residential loans and

construction/land development loans as of March 31, 2016 and their respective percentage

of the total non-farm/non-residential loans and total construction/land development loan

portfolios.

Outstanding Balances by Product Type

Outstanding Balances by State of Collateral

Non-Farm/Non-Residential Loans

Total

($ in thousands)

%

Retail, including shopping centers and strip centers

$       599,027

16.9%

Churches and schools

166,202

4.7

Office, including medical offices

941,734

26.5

Office warehouse, warehouse and mini-storage

246,544

6.9

Gasoline stations and convenience stores

47,532

1.3

Hotels and motels

727,700

20.5

Restaurants and bars

76,876

2.2

Manufacturing and industrial facilities

73,876

2.1

Nursing homes and assisted living centers

54,441

1.5

Hospitals, surgery centers and other medical

87,662

2.5

Golf courses, entertainment and recreational facilities

18,561

0.5

Other non-farm/non-residential (including mixed use)

514,832

14.4

Total

$    3,554,987

100.0%

Construction/Land Development Loans

Total

($ in thousands)

%

Unimproved land

$       187,124

6.0%

Land development and lots:

1-4 family residential and multifamily

547,518

17.4

Non-residential

506,015

16.1

Construction:

1-4 family residential:

Owner occupied

27,366

0.9

Non-owner occupied:

Pre-sold

31,585

1.0

Speculative

158,573

5.00

Multifamily

962,117

30.6

Industrial, commercial and other

722,570

23.0

Total

$    3,142,791

100.0%

Location

Total ($ in thousands)

New York

$1,916,639

Arkansas

1,262,124

Texas

1,067,020

California

822,606

North/South Carolina

791,220

Florida

676,086

Georgia

374,442

Tennessee

166,383

Arizona

152,853

Colorado

137,412

Nevada

135,153

Illinois

116,482

Cayman Islands

101,754

Washington

99,771

Oregon

67,627

Pennsylvania

57,001

Washington, D.C./Maryland

54,173

Missouri

51,417

Hawaii

46,288

Minnesota

44,183

Alabama

42,342

Massachusetts/Rhode Island

26,245

Oklahoma

22,300

Ohio

22,037

Virginia

14,134

Connecticut

12,818

All other

38,775

Total

$8,319,285

22

Construction Loans with Interest Reserves

We Have Aggressively Lowered Loan Leverage in Recent

Years to Reduce Credit Risk

66%

66%

65%

65%

65%

63%

62%

63%

62%

61%

59%

55%

53%

56%

59%

60%

59%

55%

54%

56%

53%

54%

54%

52%

54%

51%

50%

50%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

*Assumes loans are fully advanced.

2010

2009

Loan to Value*

59%

57%

57%

57%

58%

54%

55%

56%

55%

56%

56%

55%

54%

52%

53%

52%

51%

50%

48%

47%

45%

45%

46%

45%

45%

43%

44%

44%

20.00%

30.00%

40.00%

50.00%

60.00%

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Loan to Cost*

2010

2011

2012

2013

2014

2009

2011

2012

2013

2015

2015

2014

2016

2016

23

We are Well Positioned for Volatility in Interest Rates

Rising Interest Rates will Benefit our Net Interest Income

We have taken actions to protect

our loan and investment

securities portfolios from a

possible negative interest rate

macroeconomic scenario.

•

91% of our variable rate

loans have floors

•

Essentially all new variable

rate loans are being

originated with floors

•

99.5% of our investment

securities have fixed rates

Shift in Interest Rates (in bps)

% Increase in Projected

Baseline Net Interest Income*

+100

2.8%

+200

5.8%

+300

9.0%

+400

11.9%

+500

15.4%

Variable Rate Portion of Total Non-Purchased Loans and Leases

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

2009

2010

2011

2012

2013

2014

2015

3/31/2016

53.1%

54.7%

56.8%

58.2%

62.7%

72.9%

79.0%

81.4%

*Earnings simulation model’s projected impact of a change in interest rates on the projected baseline net interest income for the 12-month

period commencing April 1, 2016. Assumes parallel shifts in the yield curve and does not take into account changes in the slope of the 

yield curve or the impact of any possible future acquisitions.

24

12/31/2010

12/31/2011

12/31/2012

12/31/2013

12/31/2014

12/31/2015

3/31/2016

0.17B

0.31B

0.77B

1.21B

2.96B

5.80B

6.38B

1.75B

145%

Growth

in 2014

12/31/2010

12/31/2011

12/31/2012

12/31/2013

12/31/2014

12/31/2015

3/31/2016

1.85B

1.88B

2.12B

2.63B

3.98B

6.53B

7.59B

1.35B

51%

Growth

in 2014

2.55B

64%

Growth

in 2015

Unfunded Balances of Closed Loans*

Financial data ($ in billions)

Non-Purchased Loans & Leases

Organic Loan and Lease Growth is Always Growth Priority #1

Financial data ($ in billions)

2.84B

96%

Growth

in 2015

The significant growth in 2014 and 2015 reflects: (i) portfolio growth

in general, (ii) the fact that decreases in the bank’s loan to cost

ratio on projects results in several months later funding on most

projects and (iii) the fact that the bank’s growth is allowing it to work

on larger, higher quality projects which have somewhat longer

construction cycles than smaller projects.

1.06B

16%

Growth

in Q1 2016

(not annualized)

0.58B

10%

Growth

in Q1 2016

(not annualized)

* Excludes mortgage interest rate lock commitments

.

25

Total Loan & Lease Portfolio Details

(Dollars in thousands)

December 31,

March 31,

2011

2012

2013

2014

2015

2016

Real estate:

Residential 1-4 family

$   463,093

$   443,622

$   491,694

$   638,958

$   737,206

$ 735,165

Non-farm/non-residential

1,078,522

1,100,852

1,420,769

2,008,430

3,146,413

3,554,987

Construction/land development

638,978

685,813

795,933

1,511,614

2,873,398

3,142,791

Agricultural

95,262

73,330

65,864

95,223

94,358

97,244

Multifamily residential

158,025

151,944

231,713

253,590

580,325

789,098

Total real estate

2,433,880

2,455,561

3,005,973

4,507,815

7,431,700

8,319,285

Commercial and industrial

150,428

183,633

157,721

356,532

291,803

287,671

Consumer

41,120

34,125

33,148

40,937

35,232

34,179

Direct financing leases

54,745

68,022

86,321

115,475

147,735

143,272

Other

12,031

12,266

70,916

107,058

428,201

485,283

Total loans and leases

$2,692,204

$2,753,607

$3,354,079

$5,127,817

$8,334,671

$9,269,690

Residential Mortgage

7.9%

Multi-Family

8.5%

CRE

39.4%

C&D

33.9%

C&I

3.1%

Consumer

0.4%

Leases

1.5%

Other

5.2%

26

Purchased Loan Portfolio

December 31,

March 31,

2013

2014

2015

2016

(Dollars in thousands)

Real estate:

Residential 1-4 family

242,138

355,705

386,952

354,834

Non-farm/non-residential

316,655

504,889

1,135,547

1,079,777

Construction/land development

73,376

99,776

47,823

42,557

Agricultural

20,668

47,988

19,918

16,072

Multifamily residential

26,376

42,434

139,497

120,829

Total real estate

679,213

1,050,792

1,729,737

1,614,069

Commercial and industrial

33,653

68,825

60,522

52,366

Consumer

6,966

15,268

7,487

5,875

Other

4,682

13,062

8,291

6,041

Total purchased loans

$            724,514

$           1,147,947

$           1,806,037

$        1,678,351

December 31,

March

31,

2013

2014

2015

2016

(Dollars in thousands)

Loans without evidence of credit deterioration at date of

acquisition:

Unpaid principal balance

$          344,065

$               889,218

$           1,613,563

$         1,500,075

Valuation discount

(11,972)

(17,751)

(24,312)

(21,466)

Carrying value

332,093

871,467

1,589,251

1,478,609

Loans with evidence of credit deterioration at date of

acquisition:

Unpaid principal balance

546,234

374,001

284,410

261,249

Valuation discount

(153,813)

(97,521)

(67,624)

(61,507)

Carrying value

392,421

276,480

216,786

199,742

Total carrying value

$         724,514

$           1,147,947

$           1,806,037

$        1,678,351

$

$

$

$

27

Investment Portfolio

Expected

Maturity

Distribution

of

Investment

Securities

–

03/31/16

March 31, 2016

Amortized

Cost

Estimated

Fair Value

(Dollars in thousands)

One

year or less

$ 34,825

$ 35,295

After one year to five years

114,639

116,819

After five years to ten years

170,303

174,998

After ten years

291,126

300,834

Total

$ 610,893

$ 627,

946

Maturity or Estimated Repayment

Fair Value of Investment Securities By Year

December 31,

March 31,

2009

2010

2011

2012

2013

2014

2015

2016

Fair Value (Dollars in thousands)

Obligations of states and political subdivisions

$   393,887

$   378,547

$   373,047

$   361,517

$   435,989

$   573,209

$   427,278

$    432,642

U.S. Government agency securities

94,510

1,269

48,035

118,284

218,869

251,233

146,950

184,713

Corporate obligations

1,865

—

—

776

716

654

3,562

3,542

CRA qualified investment fund

—

—

—

—

—

—

1,028

1,049

Collateralized Debt Obligations

100

—

—

—

—

—

—

—

FHLB and FNBB equity securities

16,316

18,882

17,828

13,689

13,810

14,225

23,530

6,000

Total

$   506,678

$   398,698

$   438,910

$   494,266

$   669,384

$   839,321

$   602,348

$   627,946

28

1. March 2010

Unity National Bank

GA

FDIC-assisted

2. July 2010

Woodlands Bank

SC, NC, GA, AL

FDIC-assisted

3. September 2010

Horizon Bank

FL

FDIC-assisted

4. December

2010

Chestatee State

Bank

GA

FDIC-assisted

5. January 2011

Oglethorpe Bank

GA

FDIC-assisted

6.

April 2011

First Choice

Community Bank

GA

FDIC-assisted

7. April 2011

Park Avenue Bank

GA, FL

FDIC-assisted

8. December 2012

The Citizens Bank

AL

Traditional M&A

9. July 2013

First National Bank of Shelby

NC

Traditional M&A

10. March 2014

OMNIBANK 

TX

Traditional M&A

11. May 2014

Summit Bank

AR

Traditional M&A

12. February 2015

Intervest

National Bank

NY, FL

Traditional M&A

13. August 2015

Bank of the Carolinas

NC

Traditional M&A

14. Pending

Community & Southern Bank

GA, FL

Traditional

M&A

15. Pending

C1 Bank

FL

Traditional M&A

$28 Million

In

1979

$2.8 Billion

In

2009

Organic Growth through De Novo Branching

Augmented by Multiple Acquisitions since 2010 to $11.4B

A Proven Track Record of Growth

Organic Growth

continues to

be our #1

Growth Priority.

We expect future

acquisitions

will also be a

significant

contributor to

growth.

Organic growth is always growth priority #1, but our acquisitions have contributed to our growth, particularly,

in the development of our deposit franchise. 

29

Our Pending Acquisitions will Enhance Our Strong

Platform for Further Growth

Through a Combination of Organic Growth and Acquisitions,

We Now

Have 177 Offices in Nine States

Potential office count:

177 + 47 + 33 + 1 = 258

Office count as of May 13, 2016.

33 Florida offices expected to be added through

pending acquisition of C1 Bank. 

47 Georgia and Florida  offices expected to be

added through pending acquisition of Community &

Southern Bank. 

2

22

83

3

28

2

25

2

10

Planned new offices and de novo branches for 2016

30

2010

2011

2012

2013

2014

2015

2016Q1

$2,541

$2,944

$3,101

$3,717

$5,496

$7,971

$9,627

Total Deposits ($ millions)

Deposit Growth

We have successfully grown our deposits while beating peer metrics.

*Data for all Commercial Banks between $5B and $15B

Source: SNL Financial

2010

2011

2012

2013

2014

2015

2016 Q1

1.01%

0.71%

0.38%

0.23%

0.23%

0.31%

0.44%

1.26%

0.95%

0.70%

0.53%

0.46%

0.45%

0.46%

Cost of Interest-Bearing Deposits vs. Peers*

OZRK

Peer

31

7 States*, 93 Cities

# Offices

All FDIC Financial Institutions

as

of June 30, 2015

3,979

Bank of the Ozarks

as of June 30, 2015

161

0.88

% of Deposits**

Untapped Deposit Growth Potential in Existing Markets

*Deposits in our New York office and deposits for all FDIC financial

institutions in New York are excluded from this analysis.

**Data for all FDIC Insured Institutions from the FDIC Annual Market Share

Report, last updated June 30, 2015. Data for Bank of the Ozarks as of

June 30, 2015.

Florida

Texas

North

Carolina

Georgia

Alabama

South

Carolina

Arkansas

4.05

% of Offices**

Deposit Balance

$   759.5B*

$       6.7B*

Substantial capacity

for future growth

Our 13 acquisitions closed since 2010 have

given us an extensive branch network, which the

Company believes provides billions of dollars in

deposit growth capacity.

31

32

*Data for all FDIC insured institutions from the FDIC Quarterly Banking Profile, last update first quarter 2016.

Excellent Efficiency Ratio

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

3M

2016

59.1

52.5

47.9

47.5

46.2

43.4

47.1

46.3

42.3

37.8

42.9

41.6

46.6

45.3

45.3

38.4

35.5

58.5

57.7

56.0

56.6

58.0

57.2

56.8

59.5

59.0

55.5

57.2

61.4

61.6

60.5

61.9

59.9

59.9

Bank of the Ozarks, Inc.

FDIC Insured Institutions*

33

Note: Blue lines represent minimum capital required for Basel III, fully phased-in by 1/1/2019

Source: SNL Financial, Company documents

Consistently Strong Capital Levels

OZRK

has

demonstrated

the

ability

to

easily

access

the

capital

markets:

During

the

4

th

Quarter

2015,

OZRK

issued

approximately

2.1

million shares of common stock with gross proceeds of $110 million to provide capital to support continued growth.

Leverage Ratio (%)

Tier 1 Ratio (%)

Tier 1 Common Equity Ratio (%)

Total Capital Ratio (%)

11.88%

12.06%

14.40%

14.19%

12.92%

14.96%

14.05%

4.00%

4.00%

4.00%

4.00%

4.00%

4.00%

4.00%

2010Y

2011Y

2012Y

2013Y

2014Y

2015Y

2016Q1

16.13%

17.67%

18.11%

16.15%

11.74%

11.62%

10.89%

8.50%

8.50%

8.50%

8.50%

8.50%

8.50%

8.50%

2010Y

2011Y

2012Y

2013Y

2014Y

2015Y

2016Q1

13.43%

15.28%

16.22%

14.56%

10.87%

10.79%

10.08%

7.00%

7.00%

7.00%

7.00%

7.00%

7.00%

7.00%

2010Y

2011Y

2012Y

2013Y

2014Y

2015Y

2016Q1

17.39%

18.93%

19.36%

17.18%

12.47%

12.12%

11.35%

10.50%

10.50%

10.50%

10.50%

10.50%

10.50%

10.50%

2010Y

2011Y

2012Y

2013Y

2014Y

2015Y

2016Q1

34

Experienced Management Team

George Gleason

Chairman & CEO

Tyler Vance

Chief Operating Officer

& Chief Banking Officer

Dan Thomas

Vice Chairman, Chief

Lending Officer &

President of RESG

Greg McKinney

Chief Financial Officer

& Chief Accounting

Officer

Darrel Russell

Chief Credit Officer

Scott Hastings

President-Leasing

and Corporate Loan

Specialties Group

Jennifer Junker

Managing Director

of  Trust & Wealth

Mgmt. Division

Dennis James

EVP-Director of

Mergers and

Acquisitions

John Carter

Director of

Community Bank

Lending

Tim Hicks

EVP-Corporate Finance

Ed Wydock

Chief Risk Officer

Helen Brown

General Counsel -

Corporate Finance

Luke King

SVP-Investment

Portfolio Manager

Board of

Directors Risk

Committee

Gene Holman

President

Mortgage Division

Michael Ptak

General Counsel

35

Select Management Profiles

Name

Title

Detail

George Gleason

Chairman and Chief

Executive Officer

George Gleason has led the Company and its predecessors for 37 years.  Mr. Gleason

purchased

Bank of Ozark, which then had approximately $28 million in total assets, in 1979.

Since then, the company has grown roughly 353 times its 1979 size.

Dan Thomas

Vice Chairman, Chief

Lending Officer and

President, Real Estate

Specialties

Group

Dan Thomas has 31 years of experience in structuring,

financing and managing commercial

real estate transactions.  He joined Bank of the Ozarks in 2003 and established the Real

Estate Specialties Group, which handles many of the Company’s larger and more complex

real estate transactions.  The Real Estate Specialties Group has offices in Austin, Dallas and

Houston, Texas; Los Angles and San Francisco, California; Atlanta, Georgia and New York,

New York. 

Greg McKinney

Chief Financial Officer

and Chief Accounting

Officer

Mr.

McKinney joined the Company in 2003

and oversees all corporate finance functions,

mergers and acquisitions, the Company’s investment portfolio, facilities, risk management and

human resources. Mr. McKinney has 24 years of accounting and financial reporting

experience and is a Certified Public Accountant (inactive).

Tyler Vance

Chief Operating Officer

and Chief Banking

Officer

Mr. Vance joined

Bank of the Ozarks in 2006. He has 19 years of banking experience and is a

Certified Public Accountant (inactive). Mr. Vance was named Chief Banking Officer in 2011

and Chief Operating Officer in 2013. Mr. Vance oversees a broad range of duties including

retail banking, technology, deposit operations, marketing, training, public funds deposits,

deposit pricing and treasury management.

Darrel

Russell

Chief Credit Officer and

Chairman of the

Directors’ Loan

Committee

Darrel Russell has 35 years of banking experience and has been with the Company since

1983. Mr. Russell was named Chief Credit Officer in 2011 and is responsible

for the

Company’s overall credit quality. Mr. Russell also serves as Chairman of the Directors’ Loan

Committee. 

36

Recent Development: 2015 M&A Highlights

•

Closed Intervest National Bank acquisition in February 2015. Our largest acquisition as of this

date with offices in New York (1) and Florida (6). Systems conversion completed in June 2015.

•

Closed Bank of the Carolinas acquisition in August 2015 with 8 North Carolina offices,

expanding in the Charlotte MSA and entering the Piedmont Triad Region. The majority of these

offices are in markets which should support future growth in an efficient manner. Systems

conversion completed in November 2015.

•

Definitive agreement with Community & Southern Holdings, Inc. executed on October 19, 2015.

When completed, our largest acquisition to date with 46 strategically located and highly

complementary Georgia offices and 1 office in Jacksonville, Florida with almost no duplication

to our existing GA and FL offices. A large number of very talented bankers with particular

expertise in both direct and indirect consumer credit, loan administration, loan operations, loan

and business analytics and other areas will enhance our Community Banking, loan

administration and other business functions.

•

Definitive agreement with C1 Financial, Inc. executed on November 9, 2015 providing us with

32 strategically located and highly complementary Florida retail offices and one loan production

office including entry into the Miami, Orlando and Cape Coral-Ft. Myers markets. C1’s

leadership in technology and innovation is expected to be transformational to customer

experiences and operational efficiency.

37

Key Actions in Q4 2015 to Prepare for 2016

•

Continued to intensify our longstanding emphasis on credit quality and conservative underwriting standards, including our focus

on transactions involving great projects, strong and capable sponsors, low leverage and defensive loan structures.

•

Managed our balance sheet growth to maintain total assets under $10 billion at December 31, 2015, thus delaying the impact of

the Durbin Amendment on our interchange revenue until July 1, 2017.

•

Reviewed our portfolio of purchased loans from acquisitions and sold what we believe were our loans most vulnerable to an

economic downturn. These loans had a fair value of $12.5 million and the sale resulted in a gain of $6.3 million.

•

Sold $167.3 million of investment securities, primarily to maintain year-end assets under $10 billion and secondarily to reduce our

investment portfolio’s exposure to the uncertainty surrounding possible rising interest rates resulting in a gain of $2.9 million.

•

Prepaid $120 million of FHLB advances with maturities in late 2017 and a weighted average interest rate of 3.80% incurring a

prepayment penalty of $6.4 million. This should significantly reduce our cost of FHLB borrowings in 2016 and 2017 and increase

our FHLB borrowing capacity, which is an important source of secondary liquidity.

•

Reviewed the productivity of lenders throughout our bank, resulting in the consolidation of our Stabilized Properties Group with

our Real Estate Specialties Group and the elimination of other underperforming team members.  We have reallocated that

overhead to grow our lending and other teams in geographies and areas of business where we expect to achieve much greater

productivity.

•

Issued approximately 2.1 million shares of common stock with gross proceeds of $110 million to provide capital to support

continued growth.

38

Q1 2016 Financial Highlights:

•

Record net income of $51.7 million, a 29.6% increase from $39.9 million for 2015Q1

•

Diluted earnings per common share of $0.57, a 21.3% increase from 2015Q1

•

Non-purchased loans and leases were $7.59 billion, a 76.1% increase from March 31,

2015

•

Unfunded balances of closed loans totaled $6.38 billion, an 87.2% increase from

$3.41 billion at March 31, 2015

•

Net interest income of $112.5 million, a 31.6% increase from $85.5 million for 2015Q1

•

Service charges on deposit accounts increased 15.5% to a record $7.66 million in the

first quarter of 2016 compared to $6.63 million in the first quarter of 2015

•

Some of our Best Asset Quality Ratios as a Public Company including:

o

Record 0.15% Ratio of Nonperforming Loans and Leases as a Percent of Total

Loans and Leases

o

Record 0.23% Ratio of Loans and Leases Past Due 30 Days or more including

Past Due Non-Accrual Loans and Leases

to Total Loans and Leases

39

Interest Coverage

$ in thousands

Assumptions

% of Subordinated Debt Downstreamed to Bank

100%

Subordinated Debt Issuance Net Proceeds Amount

$123,750

Interest Rate

5.00%

For the Twelve Months Ended:

December 31,

March 31,

2013     

2014     

2015     

2016

Bank-Level Equity

$673,657

$946,188

$1,558,811

$1,604,095

Consolidated Equity

632,530

911,842

1,467,794

1,511,250

Double Leverage Ratio

106.50%

103.77%

106.20%

106.14%

Proposed Subordinated Debt Offering Downstreamed to Bank

$123,750

1,727,845

Pro Forma Double Leverage Ratio

114.33%

Total Deposit Interest

$6,103

$8,566

$17,716

$22,029

Other Borrowing Interest

12,531

12,389

9,852

8,797

Total Interest Expense

18,634

20,955

27,568

30,826

Pre-tax Income

131,414

172,447

276,769

301,391

Interest Coverage (including deposit expense)

8.05x

9.23x

11.04x

10.78x

Interest Coverage (excluding deposit expense)

11.49x

14.92x

29.09x

35.26x

New Holding Company Subordinated Debt Expense (5.00%)

6,188

Pro Forma Interest Coverage (including deposit expense)

8.05x

9.23x

11.04x

8.98x

Pro Forma Interest Coverage (excluding deposit expense)

11.49x

14.92x

29.09x

20.70x

Pro Forma Bank-Level Equity Assuming 100% Downstreamed to Bank

Interest Coverage

40

Appendix

41

Historical Income Statement

(Dollar Values in Thousands)

For the Year Ended December 31,

Quarter Ended,

2011

2012

2013

2014

2015

2016Q1

Interest income

Non-purchased loans and leases

112,551

$    

115,108

$    

129,419

$    

162,567

$    

244,638

$    

87,010

$        

Purchased loans

66,867

62,074

59,930

98,212

134,745

29,023

Investment securities

Taxable

3,013

2,949

6,838

11,125

13,131

2,270

Tax-exempt

16,702

15,807

15,933

19,489

17,164

3,432

Deposits with banks and federal funds sold

36

8

33

56

41

6

Total interest income

199,169

195,946

212,153

291,449

409,719

121,741

Interest expense

Deposits

17,686

8,982

6,103

8,566

17,716

7,850

Repurchase agreements with customers

174

47

31

54

76

19

Other borrowings

10,835

10,723

10,780

10,642

6,111

302

Subordinated debentures

1,740

1,848

1,720

1,693

3,665

1,053

Total interest expense

30,435

21,600

18,634

20,955

27,568

9,224

Net interest income

168,734

174,346

193,519

270,494

382,151

112,517

Provision for loan and lease losses

11,775

11,745

12,075

16,915

19,415

2,017

Net interest income after provision for loan and lease losses

156,959

162,601

181,444

253,579

362,736

110,500

Non-interest income

Service charges on deposit accounts

18,094

19,400

21,644

26,609

28,698

7,657

Mortgage lending income

3,277

5,584

5,626

5,187

6,817

1,284

Trust income

3,206

3,455

4,096

5,592

5,903

1,507

BOLI income

2,307

2,767

4,529

5,184

10,084

2,861

(Amortization) accretion of FDIC loss share receivable, net

of FDIC clawback payable

10,141

7,375

7,171

(611)

--

--

Other income from purchased loans, net

6,432

10,645

13,153

14,803

26,126

3,052

Gains on sales of other assets

3,738

6,809

9,386

6,023

14,753

1,027

Gains on merger and acquisition transactions

65,708

2,403

5,163

4,667

--

--

Net gains on investment securities

933

457

161

144

5,481

--

Other

3,247

3,965

5,110

17,285

7,153

2,477

Total non-interest income

117,083

62,860

76,039

84,883

105,015

19,865

Non-interest expense

Salaries and employee benefits

56,262

59,028

64,825

76,884

87,953

23,362

Net occupancy and equipment

14,705

15,793

18,710

24,102

31,248

8,531

Other operating expenses

51,564

39,641

42,534

65,029

71,781

15,793

Total non-interest expense

122,531

114,462

126,069

166,015

190,982

47,686

Income before taxes

151,511

110,999

131,414

172,447

276,769

82,679

Provision for income taxes

50,208

33,935

40,149

53,859

94,455

30,984

Net income

101,303

77,064

91,265

118,588

182,314

51,695

Earnings attributable to noncontrolling interest

18

(20)

(28)

18

(61)

(7)

Net income available to common stockholders

101,321

$    

77,044

$      

91,237

$      

118,606

$    

182,253

$    

51,688

$        

Basic earnings per common share (actual)

2.96

$          

1.11

$          

1.27

$          

1.53

$          

2.10

$          

0.57

$            

Diluted earnings per common share (actual)

2.94

$          

1.10

$          

1.26

$          

1.52

$          

2.09

$          

0.57

$            

42

Historical Balance Sheet

(Dollar Values in Thousands)

For the Year Ended December 31,

Quarter Ended,

2011

2012

2013

2014

2015

2016Q1

ASSETS

   Cash and due from banks

58,247

$             

206,500

$          

195,094

$          

147,751

$          

89,122

$             

616,508

$          

   Interest earning deposits

680

1,467

881

2,452

1,866

6,253

   Cash and cash equivalents

58,927

207,967

195,975

150,203

90,988

622,761

   Investment securities - available for sale (“AFS”)

438,910

494,266

669,384

839,321

602,348

627,946

   Non-purchased loans and leases

1,880,483

2,115,834

2,632,565

3,979,870

6,528,634

7,591,339

   Purchased loans

811,721

637,773

724,514

1,147,947

1,806,037

1,678,351

   Allowance for loan and lease losses

(39,169)

(38,738)

(42,945)

(52,918)

(60,854)

(61,760)

   Net loans and leases

2,653,035

2,714,869

3,314,134

5,074,899

8,273,817

9,207,930

   Federal Deposit Insurance Corporation (“FDIC”) loss share receivable

279,045

152,198

71,854

--

--

--

   Premises and equipment, net

186,533

225,754

245,472

273,591

296,238

299,850

   Foreclosed assets

104,669

66,875

49,811

37,775

22,870

22,248

   Accrued interest receivable

12,868

13,201

14,359

20,192

25,499

33,327

   Bank owned life insurance (“BOLI”)

62,078

123,846

143,473

182,052

300,427

345,288

   Intangible assets, net

12,207

11,827

19,158

105,576

152,340

150,865

   Other, net

33,379

29,404

67,550

82,890

114,932

117,204

   Total assets

3,841,651

$       

4,040,207

$       

4,791,170

$       

6,766,499

$       

9,879,459

$       

11,427,419

$     

LIABILITIES AND STOCKHOLDERS' EQUITY

   Deposits

     Demand non-interest bearing

447,214

578,528

746,320

1,145,454

1,515,482

1,621,811

     Savings and interest bearing transaction

1,578,449

1,741,678

2,073,497

2,892,989

4,017,504

4,935,235

     Time

918,256

780,849

897,210

1,457,939

2,438,482

3,069,779

     Total deposits

2,943,919

3,101,055

3,717,027

5,496,382

7,971,468

9,626,825

   Repurchase agreements with customers

32,810

29,550

53,103

65,578

65,800

65,883

   Other borrowings

301,847

280,763

280,895

190,855

204,540

41,933

   Subordinated debentures

64,950

64,950

64,950

64,950

117,685

117,823

   FDIC clawback payable

24,645

25,169

25,897

--

--

--

   Accrued interest payable and other liabilities

45,507

27,614

16,768

36,892

52,172

63,705

   Total liabilities

3,413,678

3,529,101

4,158,640

5,854,657

8,411,665

9,916,169

   Stockholders' equity

     Preferred stock

--

--

--

--

--

--

     Common stock

345

353

737

799

906

907

     Additional paid-in capital

51,145

73,043

143,017

324,354

755,995

752,029

     Retained earnings

363,734

423,485

488,978

571,454

706,628

744,713

     Accumulated other comprehensive income

9,327

10,783

(3,672)

14,132

7,959

10,431

     Treasury stock

--

--

--

(2,349)

(6,857)

--

     Total stockholders' equity before noncontrolling interest

424,551

507,664

629,060

908,390

1,464,631

1,508,080

     Noncontrolling interest

3,422

3,442

3,470

3,452

3,163

3,170

     Total stockholders' equity

427,973

511,106

632,530

911,842

1,467,794

1,511,250

   Total liabilities and stockholders' equity

3,841,651

$       

4,040,207

$       

4,791,170

$       

6,766,499

$       

9,879,459

$       

11,427,419

$     

43

Non-GAAP Reconciliation

Bank of the Ozarks, Inc.

Return on Average Tangible Common Stockholders' Equity

Quarter Ended

12/31/2008

12/31/2009

12/31/2010

12/31/2011

12/31/2012

12/31/2013

12/31/2014

12/31/2015

3/31/2016

Net Income Available To Common Stockholders

34,474

$   

36,826

$   

64,001

$   

101,321

$   

77,044

$     

91,237

$   

118,606

$ 

182,253

$   

51,688

$            

Average Common Stockholders Equity Before

   Noncontrolling Interest

213,271

$ 

267,768

$ 

296,035

$ 

374,664

$   

458,595

$   

560,351

$ 

786,430

$ 

1,217,475

$

1,484,657

$      

Less Average Intangible Assets:

   Goodwill

(5,231)

(5,243)

(5,243)

(5,243)

(5,243)

(5,243)

(51,793)

(118,013)

(125,448)

   Core Deposit And Bank Charter Intangibles,

     Net Of Accumulated Amortization

(515)

(368)

(1,621)

(5,932)

(5,989)

(9,661)

(21,651)

(28,660)

(26,164)

Total Average Intangibles

(5,746)

(5,611)

(6,864)

(11,175)

(11,232)

(14,904)

(73,444)

(146,673)

(151,612)

Average Tangible Common Stockholders' Equity

207,525

$ 

262,157

$ 

289,171

$ 

363,489

$   

447,363

$   

545,447

$ 

712,986

$ 

1,070,802

$

1,333,045

$      

Return On Average Common Stockholders' Equity

16.16%

13.75%

21.62%

27.04%

16.80%

16.28%

15.08%

14.97%

14.00%

Return On Average Tangible Common Stockholders' Equity

16.61%

14.05%

22.13%

27.87%

17.25%

16.73%

16.64%

17.02%

15.59%

Years Ended