Bank of the Ozarks earnings beat predictions by analysts.(Public Company Reports)

Bank of the Ozarks Inc. on Monday reported record earnings of $9.5 million for the second quarter of 2009, despite slightly lower loan demand.

Earnings of 56 cents per share beat the average prediction of analysts following BOZ by 3 cents per share and compared favorably to the 51 cents per share recorded in the second quarter of 2008.

For the six months ended June 30, net income totaled $18.8 million, a 14.8 percent increase from the first six months of 2008.

"During the quarter just ended, our net interest margin continued to improve, income from service charges on deposit accounts improved from both the preceding quarter and the comparable quarter last year, mortgage lending income was the best since 2003, and trust income was a quarterly record," CEO George Glenson said in the announcement. "We also benefited from significant net gains on sales of investment securities."

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