Bank of the Ozarks has agreed to buy about 44 acres at The Ranch on Arkansas 10 in west Little Rock to build a new headquarters.
Bank of the Ozarks will pay about $12.7 million for the property, where it will build a headquarters to support the bank's growth.
Since 1995, Bank of the Ozarks has occupied and outgrown three different headquarters in Little Rock, George Gleason, the bank's chairman and chief executive officer, said in a statement.
In 1995, the bank leased about 3,500 square feet in the 40-story TCBY Tower, now the Simmons First National Bank Tower. In June 1998, it moved to a 40,000-square-foot building at 12615 Chenal Parkway.
It moved to its current location, with 92,616 square feet, at 17901 Chenal Parkway in December 2008. The headquarters at The Ranch, with 180,000 square feet, is scheduled to open in 2018.
There are about 215 employees at the current location. It is expected to reach its capacity of about 270 employees in 2017.
-- David Smith