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2014 ANNUAL REPORT A Strong Platform for Growth Through a Combination of Organic Growth and Acquisitions, We Now Have 165 Offices in Nine States Bank of the Ozarks’ Office Locations Arkansas 81 Georgia 28 Texas 21 California North Carolina 16 Florida 11 Alabama 3 South Carolina 2 New York 2 California 1 Total 165 This report contains forward-looking statements and reflects management’s current views of future economic circumstances, industry conditions, Company performance and financial results. These forward-looking statements are subject to a number of factors and uncertainties which could cause the Company’s actual results and experience to materially differ from anticipated results and expectations expressed in such forward-looking statements. A description of certain factors which may affect operating results may be found in this annual report under “Part I—Forward-Looking Information” and under “Item 1A. Risk Factors.” All scenic photographs from Bank of the Ozarks’ trade area. New York North Carolina South Carolina Arkansas Alabama Georgia Texas Florida 1 A Long-Term Perspective The outstanding results we achieved in 2014 reflect our commitment to excellence and our focus on long-term goals. Our constant pursuit of adding new customers, building relationships, improving performance and enhancing efficiency has produced great results. The following graphs provide a long-term perspective. Our Company is focused on both growth and profitability. We have achieved excellent long-term growth in loans, leases and deposits, while our net income and diluted earnings per common share have grown at similar rates. 4 160 Net Income $118.6 3 120 (Millions) Over the past ten years, we have $ 101.3 achieved compounded annual Earnings Per $91.2 Common Share $77.0 growth rates of 16.4% in net 2 80 (Diluted) $64.0 income and 14.6% in diluted $ $1.47 1.52 earnings per common share. $ $ 1.26 $ 36.8 $ 1 40 $31.5 $31.7 $31.7 34.5 1.11 $25.9 $0.94 $ $0.47 $0.47 $0.47 $0.51 0.54 $0.39 0 0 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 8000 Loans and Leases, including Over the past ten years, our 6000 Purchased Loans $ (Millions) 5,128 loans and leases, including purchased loans, have grown 4000 $3,357 at a compounded annual rate $2,692 $2,754 $2,346 of 16.3% . $ $1,871 2,021 $1,904 2000 $1,677 $1,371 $1,135 0 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 8000 Deposits Over the past ten years, our 6000 (Millions) $ 5,496 deposits have grown at a compounded annual rate 4000 $3,717 of 14.8% . $3,101 $2,944 $2,541 $2,341 $2,045 $2,057 $2,029 $1,592 2000 $1,380 0 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 2 Net interest income is our largest revenue component, and income from service charges, trust 400 and mortgage lending have traditionally been key contributors to non-interest income. 300 Net Interest Income $ 270.5 Net interest income has grown (Millions) over the last ten years at a $193.5 $ compounded annual rate 200 $168.7 174.3 of 16.1% . $ $118.3 123.6 $98.7 $77.6 100 $68.6 $70.7 $60.6 0 40 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 30 Service Charge Income $26.6 Income from service charges on (Millions) $21.6 deposit accounts has grown at $19.4 20 $18.1 a compounded annual rate of $15.2 10.9% over the past ten years. $12.2 $12.0 $12.4 $ $10.2 10 $9.5 9.9 0 8 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 6 Trust Income $5.6 Over the past ten years, (Millions) trust income has grown at $4.1 a compounded annual rate $ 4 $ 3.5 3.4 $ $3.1 3.2 of 14.3% . $2.6 $2.2 $1.9 $1.7 2 $1.5 0 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 8 Mortgage Lending Income Mortgage lending is a valuable 6 (Millions) $5.6 $5.6 $5.2 service to our customers and an important source of non-interest $ 4 3.9 income, but it is cyclical in nature $3.3 $3.3 $3.3 $ 3.0 $2.9 $2.7 and varies with interest rate $2.2 and housing market conditions. 2 0 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 3 80 Efficiency Ratios 60 We have worked hard to become one of the most % % % 46.2% 47.1 46.3 46.6 % % % 45.3 45.3 43.4 % % efficient bank holding companies in the nation. 42.3 42.9 41.6 % 37.8 % 40 20 2.0 4.500 0 1.5 2004 2005 2006 2007 2008 2009 20102011 2012 20133.3752014 4 4 3 3 1.0 Charge-Off Ratios 2.250 We consider the net charge-off ratio as the 2.52% 2.55% FDIC Insured Financial Institutions ultimate measure of asset quality. Our net Bank of the Ozarks, Inc. % charge-off ratio has consistently compared 0.5 1.75 1.125 2 2 1.55 % favorably with the ratio for all FDIC insured 1.29 % 1.10 % institutions as a group. 0.81% * 0.69% * 0.69% 1 1 0.0 % 0.59% 0.000 0.56 % % % 0.49 % 0.45 0.49 0.39 % % 0.30 * 0.24 % 0.10 % 0.11 % 0.12 % 0.14 * 0.12 % * Source: Data from the FDIC Quarterly Banking Profile for 4Q14. 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 * Excludes0 purchased loans and net charge-offs related to such loans. 0 Nonperforming Nonperforming 3.06% 3.07%† †† Loans & Leases/ 1.24 % Assets/Total Assets %† Total Loans & Leases 2.67 1.88 %† 0.76 % 0.75 %† 0.70 %† % 0.57 %† 0.53%† 1.22 %† 0.43 %† % 0.87 0.34% 0.35% 0.33%† 0.81 0.25% 0.39% % % 0.36 0.18 % 0.24 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 Loans & Leases Maintaining good asset quality has been an Past Due 30 Days 2.68% or More/Total important factor in our historically strong growth Loans & Leases in net income. 1.99 % 2.01%† 1.53 %† 1.14 % %† 0.76 % 0.73 %† 0.79 0.60% %† 0.39% 0.45 † Excludes purchased loans except for their inclusion in total assets. †† Ratios from 2010–2013 have been recalculated to include foreclosed 2004 2005 2006 2007 2008 2009 20102011 2012 2013 2014 assets previously covered by FDIC loss share as nonperforming assets. 4 4 3 2 1 0 Our Senior Management Team George Gleason Chairman of the Board and Chief Executive Officer George Gleason has led the Company and its predecessors for 36 years. Mr. Gleason purchased Bank of Ozark, which then had approximately $28 million in total assets, in 1979. Since then, the Company has grown roughly 242 times its 1979 size. Dan Thomas Vice Chairman, Chief Lending Officer and President—Real Estate Specialties Group Dan Thomas has 30 years of experience in structuring, financing and managing commercial real estate transactions. He joined Bank of the Ozarks in 2003 and established the Real Estate Specialties Group, which handles many of the Company’s larger and more complex real estate transactions. The Real Estate Specialties Group has offices in Austin, Dallas and Houston, Texas; Atlanta, Georgia; New York, New York and Los Angeles, California. Greg McKinney Chief Financial Officer and Chief Accounting Officer Greg McKinney joined the Company in 2003 and oversees all corporate finance functions, mergers and acquisitions, the Company’s investment portfolio, loan review functions, facilities, compliance and human resources. Mr. McKinney has 23 years of accounting and financial reporting experience and is a Certified Public Accountant. Tyler Vance Chief Operating Officer and Chief Banking Officer Tyler Vance joined Bank of the Ozarks in 2006. He has 18 years of banking experience and is a Certified Public Accountant. Mr. Vance was named Chief Banking Officer in 2011 and Chief Operating Officer in 2013. Mr. Vance oversees a broad range of duties including retail banking, technology, deposit operations, marketing, training, public funds deposits, deposit pricing, internal audit, funds management and treasury management. Darrel Russell Chief Credit Officer and Chairman of the Directors’ Loan Committee Darrel Russell has 34 years of banking experience and has been with the Company since 1983. Mr. Russell was named Chief Credit Officer in 2011 and is responsible for the Company’s overall loan production and credit quality. Mr. Russell also serves as Chairman of the Directors’ Loan Committee. 5 Helen W. Brown Gene Holman General Counsel/Corporate Finance President, Mortgage Division Helen Brown joined the Company in 2013 and is Gene Holman has 40 years of mortgage responsible for oversight of legal matters affecting banking and real estate experience. He joined the Company with respect to corporate governance, the Company in 2004 as President of the mergers and acquisitions, federal securities laws Mortgage Division. and other regulatory matters. John Carter Dennis James Director of Community Bank Lending and Director of Mergers and Acquisitions Chairman of the Officers’ Loan Committee Dennis James joined the Company in 2005 and John Carter joined Bank of the Ozarks in 2009 has 42 years of experience in finance and and has 13 years of banking experience. Mr. management. Mr. James is responsible for leading Carter is responsible for providing strategic the Company’s merger and acquisition activity. leadership and direction regarding sound loan growth initiatives throughout the Company’s community bank footprint.

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