Bank OZK (OZK) (previously Bank of the Ozarks) has announced an offering of new non cumulative preferrred stock.
Terms of the issue will be typical–non cumulative with an optional redemption date about 5 years out. The issue will be qualified.
The permanent ticker will be OZKAP when it hits the NASDAQ after a likely short stint on the OTC market.
The preliminary prospectus can be found here.
You will find all of their filings here (not on the SEC Edgar system) since they are regulated by the FDIC>
EarlyBird was right on this one and posits some yield talk in the 4.75% area.
13 thoughts on “Bank OZK to Offer Preferred Shares”
FINRA OTC ~ OZKKV
Priced at 4.5/8
I was hoping it would stick at 4.75. If this ig rated or split or junk?
Never heard of this bank, but they have a $5B+ market cap and raise the dividend every quarter…..hmmmmm…..very interesting.
Daddy–me either–but they have about $26 billion in assets.
Tim, has a temporary symbol for OZKAP been announced?
Just announced: OZKKV
Bank OZK Little Rock Ark Series A Non-Cum Perp Preferred Stock
Schwab is listing it, although no sales are indicated. I put an order in and will see what happens tomorrow.
I see that 10k shares at 25.03 sold. I threw in a lowball 24.90 for open tomorrow. I doubt it will snag a bite.
This was called “Bank of the Ozarks”, has been around for over a century. Renamed as they grew/expanded geographically.
I owned it when it was “Bank of the Ozarks” back when. Can’t remember why I sold it, but did make a profit on it. Very solid outfit.