Bank OZK announces record 2Q net

Bank OZK announced record second-quarter earnings Thursday afternoon, with net income up nearly 200% from a year ago.

The bank posted a net income of $150.5 million, rocketing from $50.3 million a year ago. Earnings per share was $1.16, up from 39 cents a year ago.

OZK noted it reduced its provisions to cover credit allowances to $307.6 million, down from $377.3 million at the end of 2020.

It reported net interest income of $240.7 million, a $24.2 million or 11.2% increase from the second quarter of 2020, and a $6.1 million, or 2.6% not annualized increase from the first quarter of 2021.

“We are pleased to report record results for the quarter just ended,” Chairman and CEO George Gleason said in a release. “Our strong capital and liquidity, our disciplined credit culture and our exceptional team have us well positioned for the future.”