Bank of the Ozarks sees 2018 non-purchased lown growth exceeding 2017
Management said, "As we have stated in recent conference calls, we expect that our 2018 growth in non-purchased loans will exceed our record $3.13B annual growth in non-purchased loans in 2017. While it is early to make comments about 2019, based on our plans and our positive momentum, we expect our volume of non-purchased loan growth in 2019 to exceed 2018's growth." The company added, " Purchased loan runoff was an expected headwind to our overall growth in the quarter just ended, and it will continue to be a headwind to overall growth until we make our next acquisition. In the interim, the magnitude of that headwind should diminish as the purchased loan portfolio continues to decrease as a percentage of our total earning assets." The company sees its effective tax rate for 2018 at 25%-27%. Says will be "disciplined" in its acquisition strategy. The bank anticipates its name change to Bank OZK will take effect on or about July 16.