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UPDATE: Bank of Ozarks to Pay $27.3M for Genala

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Bank of the Ozarks, Inc. (NASDAQ: OZRK) announced today that it has entered into a definitive agreement and plan of merger (“Agreement”) with Genala Banc, Inc. According to the terms of the Agreement, Bank of the Ozarks, Inc. (“Company”) will acquire all of the outstanding common stock of Genala Banc, Inc. in a transaction valued at approximately $27.3 million. Following closing, the transaction is expected to be accretive to the Company's book value per common share, tangible book value per common share and diluted earnings per common share.

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