Bank of the Ozarks, Inc. Seeks Shareholder Approval to Increase Authorized Shares for Two-for-One Stock Split

LITTLE ROCK, Ark.--(BUSINESS WIRE)--Sept. 16, 2003--Bank of the Ozarks, Inc. (NASDAQ: OZRK) today announced that the Company's Board of Directors has approved a two-for-one split of the Company's common stock. The stock split is subject to approval by stockholders of an amendment to the Company's Articles of Incorporation to increase the number of authorized shares.

The Company will effect the stock split in the form of a stock dividend by issuing one additional share of common stock for each outstanding share of common stock. The Company expects the record date for the stock split to be November 26, 2003, with an effective date of December 10, 2003. The stock split will double the total number of its outstanding shares of common stock.

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In order to complete the stock split, the Company's stockholders will be asked to approve an amendment to its Articles of Incorporation to increase the authorized shares of common stock. The Company will seek approval of the amendment at a special meeting of its stockholders. The Company will file a preliminary proxy statement with the Securities and Exchange Commission in connection with the special meeting and intends to mail a definitive proxy statement and notice of special meeting to the Company's stockholders in early October. The special meeting is expected to be held on December 9, 2003, with the exact timing dependent on the completion and review of necessary filings with the Securities and Exchange Commission.

Bank of the Ozarks, Inc. is a bank holding company with $1.2 billion in total assets as of June 30, 2003 and trades on the NASDAQ National Market under the symbol "OZRK." The Company owns a state-chartered subsidiary bank that conducts operations through 39 banking offices in 24 communities throughout northern, western and central Arkansas and loan production offices in Mountain Home, Arkansas, Charlotte, North Carolina, and Dallas and Frisco, Texas. The Company may be contacted at (501) 978-2265 or P.O. Box 8811, Little Rock, AR 72231. The Company's website is www.bankozarks.com.