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

LITTLE ROCK, Ark.--(BUSINESS WIRE)-- Bank of the Ozarks, Inc.

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