The signs are up, the systems are updated, and the staffers have mostly mastered the Bank of the Ozarks’ new name.
The transition of the Arkansas-based bank to its new moniker, Bank OZK, has gone well, according to Ryan Tanner, the bank’s Wilmington market president.
“We were official [as Bank OZK] as of July 16,” Tanner said. “It was almost a soft transition. We converted everything inside the bank-documents, mailings and so forth- and just recently, before [Hurricane Florence], we were able to get the old Bank of the Ozarks signs down. We’re now Bank OZK on the exterior: we’re up and we’re lit.”
Tanner calls the new name “distinctive and bold. It may stick in your head and we like that. It stands out.”
The name change, according to bank officials, was designed to free the bank from the limitations of a name tied to a specific geographic region.
“Bank of the Ozarks’ presence and brand have evolved in recent decades from an Arkansas community bank into a much larger regional bank with national lending businesses,” the bank’s website states.
The site also says that since going public in 1997, the bank’s total assets have grown from $307 million to $22.04 billion (as of March this year) and it has expanded to 254 offices in 10 states.
Throughout its footprint, Bank OZK is investing a “huge amount of money” in increasing its technological capabilities to make it easy for its customers to bank digitally Tanner said, adding that the Wilmington branch is trying to diversify and pick up additional operating accounts.”