Bank of the Ozarks CEO George Gleason announced plans for the bank's new headquarters at a news conference in Little Rock on Tuesday.
Construction of the 247,00-square-foot building will begin by the end of 2017 and is expected to be completed in late 2019, according to a news release. It will occupy a 44-acre site at The Ranch off Cantrell Road in west Little Rock.
The five-story office building will be more than twice the size of the bank's current headquarters at 17901 Chenal Parkway. The bank plans to maintain that building as well its data center in downtown Little Rock.
The new headquarters will accommodate 800 to 900 employees, according to the release.
"[It] will allow us to grow and expand as needed for many years to come," Gleason said at the news conference at the state Capitol, where he was joined by Gov. Asa Hutchinson, Little Rock Mayor Mark Stodola and Arkansas Economic Development Commission officials.
The Arkansas Democrat-Gazette first reported on the new headquarters in January, but the official announcement was made Tuesday.
The bank had about two dozen employees when Gleason bought the company in 1979. The bank now has branches in nine states and nearly 2,500 employees. The CEO said he chose to keep the headquarters in Little Rock despite offers from other cities.
"Our growth is clearly driven by our people," Gleason said.
Stodola said he hopes the bank's expansion will attract people to the city and fuel Little Rock's growth.
"All this spells great, great opportunity for this city," he said.