Buzz on BOZ

We hear things are going good for Bank of the Ozarks since it entered the Northwest Arkansas market about 14 months ago. Word is that the northwest division is larger than some of the bank’s more “mature” markets.

Doug Parker, BOZ executive vice president and its Northwest Arkansas division head, said the bank is already looking past its announced four-year plan to have 12 branches open in the two-county area (Benton and Washington counties), and is starting to sniff around at possible locations in Lowell, Bethel Heights and even Siloam Springs.

“Loan growth has been great, deposits have been great,” Parker said, noting that his seven lenders have been going gangbusters.

Commercial growth has “exceeded expectations” he said, and there is a “healthy pipeline” to carry BOZ’s area offices through the end of the year.

BOZ isn’t planning an extensive ATM network until its branches are built out, Parker said. But there is one in the University of Arkansas student union building.

As of June 30, 2005 — the only data available for BOZ in this market — the one Benton County BOZ office had $4.06 million in deposits and the one Washington County BOZ office had $15.25 million in deposits.