Bank of the Ozarks stock takes a hit on executive's departure | Arkansas Blog

Friday, July 28, 2017

Bank of the Ozarks stock takes a hit on executive's departure

Posted By on Fri, Jul 28, 2017 at 3:20 PM

click to enlarge download.jpg
Bank of the Ozarks' stock price dropped about 12 percent today, to $41.74 in a recent trade, on news of the resignation of Dan Thomas as vice chairman and president of the real estate specialties group. Reports by both Reuters and the Motley Fool suggested that the bank's construction and development loan portfolio might have something to do with events.

Stephens Inc. downgraded the stock from "overweight" to "equal weight" on what an analyst said was concern about the sustainability of growth.

The bank announced Thomas' departure in a regulatory filing and said his departure should have no material impact on the company. Nonetheless, investors seemed concerned, though at least one analyst said the drop presented a buying opportunity.

Thomas had been at the bank 14 years.

According to Reuters, the real estate group accounted for 70 percent of the bank's loans, 50 percent of revenue and 61 percent of loan growth the last year. Motley Fool noted that construction/land development loans had grown from $1.5 billion at the end of 2014 to $5.3 billion at the end of 2016.

The article said 36 percent of the bank's loan portfolio was in such loans, a higher percentage than other regional banks.

Tags: , ,



Subscribe to this thread:

Add a comment

More by Max Brantley

  • Is the legislature 'routinely corrupt'? A few dozen examples say yes.

    Is the Arkansas legislature routinely corrupt? In the Arkansas Democrat-Gazette today, one  legislator wrote in the op-ed section that it is not while Michael Wickline reported a powerful argument in favor on page one. And I list a lot more.
    • Sep 23, 2018
  • Saturday's open line includes Kavanaugh news and a stunning political ad

    Here's the open line. For entertainment, if you have one minute, watch this political ad against  Republican Rep. Paul Gosar of Arizona. Wait for it.   In other news: It appears the hearing is on for Christine Blasey Ford to talk about Brett Kavanaugh's alleged sexual assault of her when she was 15 and he was an older high school student.
    • Sep 22, 2018
  • Remembering an ‘enemy of the people’ of 1957

    David Margolick pays tribute today in a New York Times op-ed to Jerry Dhonau, the former Arkansas Gazette editorial writer who died recently. He invoked a modern theme.
    • Sep 22, 2018
  • More »

Readers also liked…

  • Tom Cotton's influence on Trump's new security chief

    U.S. Sen. Tom Cotton is getting credit for pushing President Donald Trump to select Lt. Gen. H.R. McMaster as his national security adviser, Politico reports.
    • Feb 21, 2017
  • LR Police Chief Buckner in running for Charleston, S.C. job

    KATV reports that Little Rock Police Chief Kenton Buckner is one of five finalists for the job of police chief in Charleston, S.C., and will be visit Charleston next week as part of the process.
    • Feb 2, 2018
  • Campus gun bill clears committee

    The so-called compromise amendment that will allow anyone 25 or older with a training certificate carry a concealed weapon on public college campuses was approved in a Senate committee this afternoon.
    • Feb 21, 2017


Most Viewed

Most Recent Comments


© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation