Market Overview

Bank of the Ozarks to Acquire Bancshares of Houston, Texas for Approximately $23M

LITTLE ROCK, Ark.--(BUSINESS WIRE)--

Bank of the Ozarks, Inc. (NASDAQ: OZRK) announced today that it has
entered into a definitive agreement and plan of merger (“Agreement”)
with Bancshares, Inc. (“Bancshares”) in Houston, Texas. According to the
terms of the Agreement, Bank of the Ozarks, Inc. (“Company”) will
acquire all of the outstanding common stock of Bancshares in a
transaction valued at approximately $23 million, subject to potential
adjustments. Closing of the transaction is expected to be accretive to
the Company's diluted earnings per common share immediately thereafter.

Bancshares is headquartered in Houston, Texas, and operates eight
offices through OMNIBANK, N.A. (“OMNIBANK”), its wholly-owned bank
subsidiary, including three offices in Houston, one office in San
Antonio, two offices in

See full press release

Posted-In: News Guidance Offerings Buybacks Asset Sales Management M&A Global

 

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