LITTLE ROCK, Ark. – A new headquarters for a locally-based bank will soon be under construction on the city's west side.
Officials with Bank of the Ozarks say a 44-acre site has been purchased at The Ranch along Highway 10.
On Tuesday, George Gleason, Chairman and Chief Executive Officer at Bank of the Ozarks, joined Governor Asa Hutchinson and Little Rock Mayor Mark Stodola in the Governor’s Conference Room at the State Capitol to formally announce the bank’s plans to build a new 247,000-square-foot corporate headquarters building.
The west Little Rock site will be used for initial development and future expansion, as needed over time, for its corporate headquarters campus to support the bank’s continued growth. Bank of the Ozarks expects to break ground for the initial building before the end of this year.
About 500 employees are expected to move into the building when construction is completed in late 2019 or early 2020, with capacity to accommodate 800 to 900 employees.
“Our home state has provided a talented and dedicated workforce, enabling our company to thrive and grow. Little Rock’s southern charm, abundant arts and entertainment venues, beautiful and natural setting and rich heritage also contribute to our ability to recruit exceptional talent at a national level. Our new campus in Little Rock will provide capacity for our company’s long-term growth over many years,” Gleason stated.
“Bank of the Ozarks is the largest bank headquartered in Arkansas and among the top 60 banks in the U.S. based on asset size. George Gleason is a great example of the entrepreneurial spirit in Arkansas,” said Governor Hutchinson. “Through hard work and an innovative plan for growth, he and his team have built a bank that has been ranked as the number one performing bank in the nation by several respected organizations each of the past seven years. The State of Arkansas is grateful to Bank of the Ozarks for this significant investment that will mean great job growth for Arkansas.”
The existing and future headquarters positions require employees with skills in accounting, finance, information systems, marketing, human resources, internal audit, risk management, facilities, legal, trust and tax areas.
“We’re very excited that Bank of the Ozarks chose to expand in Little Rock. Great companies attract the best and brightest workforce. The headquarters expansion will provide opportunities to grow our talent base even further. This announcement ensures Little Rock’s financial services sector will remain successful and vibrant for many years to come,” said John Riggs, Chairman of the Board of the Little Rock Regional Chamber of Commerce.
“In 1979, when George Gleason purchased Bank of the Ozarks at the age of 25, the bank had two dozen employees and three offices in Franklin County, Arkansas. Under his leadership the bank has grown to include 252 offices in 9 states with approximately 2,477 employees, and is among Fortune magazine’s fastest growing companies in the U.S.,” said Mayor Stodola. “Bank of the Ozarks moved its company headquarters to Little Rock in 1995 and has occupied and outgrown three different corporate headquarters in Little Rock. Although the bank has a national presence and their board of directors members reside or work in nine states across the US, they have resolved to remain in Little Rock with this major investment for the future. Their new campus development is a tremendous asset to the City of Little Rock.”
Bank of the Ozarks conducts banking operations through 252 offices in Arkansas, Georgia, Florida, North Carolina, Texas, Alabama, South Carolina, New York and California and had $20.06 billion in total assets as of June 30, 2017.
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