Bank OZK Stays Committed To $3.2B Life Sciences Loan Book Despite Leasing Woes

Barchart · 10/18 02:50
Bank OZK, the Arkansas-based regional bank that has been the subject of scrutiny over its exposure to commercial real estate, is busy diversifying its portfolio to reduce the percentage of its total loans made to CRE, according to its third-quarter earnings. But its exposure to the sluggish life sciences asset class has remained static despite leasing challenges at the mega campuses it has financed. Bank OZK’s Q3 earnings reflected record net income and earnings per share, and it is working to reduce its share of commercial real estate lending, with its Real Estate Specialties Group, or RESG, accounting for 64% of its loan composition, down from...