Bank of the Ozarks expects to open a loan production office in New York,
New York on July 5, 2013. This office will be an extension of Bank of
the Ozarks’ successful Dallas-based Real Estate Specialties Group.
Richard Smith, Executive Vice President, will lead the New York office.
Dan Thomas, Vice Chairman, Chief Lending Officer, and President of the
Real Estate Specialties Group commented, “On many of the Real Estate
Specialties Group’s transactions, the equity dollars, subordinated debt
or mezzanine financing comes from New York sources. As we’ve worked with
these sources over the years, it became apparent that having staff on
the ground in New York would allow us to better serve our existing
relationships and capitalize on future business opportunities.”
The Real Estate Specialties Group of Bank of the Ozarks opened in
Dallas, Texas in 2003 and is focused on the origination and servicing of
quality loans collateralized by all types of commercial real estate in
markets across the United States. The Real Estate Specialties Group
already operates two satellite offices, one in Austin, Texas which
opened in January 2012 and one in Atlanta, Georgia which opened in July
2012. Bank of the Ozarks has received all regulatory approvals for the
New York loan production office.
Richard Smith is a 25 year real estate veteran of the New York area.
Smith has held senior lending positions in New York, working for banks,
finance and investment companies. His expertise spans across all aspects
of real estate finance including construction lending, bridge lending,
mezzanine lending and loan administration. He received a bachelor’s
degree and a Masters of Business Administration from Adelphi University
in New York. Smith joined the Dallas office of Bank of the Ozarks’ Real
Estate Specialties Group last month.
Bank of the Ozarks, Inc. is a bank holding company with $3.95 billion in
total assets as of March 31, 2013 and trades on the NASDAQ Global Select
Market under the symbol “OZRK.” The Company owns a state-chartered
subsidiary bank that conducts banking operations through 117 offices in
Arkansas, Georgia, Texas, Florida, North Carolina, Alabama and South
Carolina. The New York loan production office will be Bank of the
Ozarks’ 118th office. The Company may be contacted at (501)
978-2265 or P. O. Box 8811, Little Rock, Arkansas 72231-8811. The
Company’s website is: www.bankozarks.com.
Copyright Business Wire 2013