Bank OZK authorizes $200 million stock repurchase program
The Bank OZK headquarters in west Little Rock.
Bank OZK announced Monday (June 29) that its board of directors has approved a stock repurchase program authorizing the purchase of up to $200 million of outstanding common stock.
The stock repurchase program has received all necessary regulatory approvals and will become effective July 1, 2026, upon the expiration of the bank’s current stock repurchase program, and will remain in effect through July 1, 2027, unless extended or shortened by the board.
Under the program, Bank OZK may repurchase shares of its common stock from time to time at prevailing market prices, through open market or privately negotiated transactions, or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934.
The stock repurchase program does not obligate the bank to repurchase any particular amount of common stock, and the program may be suspended, modified or discontinued at any time.
Under the previously approved stock repurchase program that expires on July 1, 2026, the bank has repurchased 3.89 million shares of common stock for $176.6 million for an average price per share of $45.34.
Bank OZK stock (NASDAQ: BOZK) closed trading Monday at $51.63 per share.