Ozarks discusses bid for failed bank

Little Rock, Ark.-based Bank of the Ozarks, which entered the Gulf Coast market in late 2010, nearly expanded its local presence last month — part of a larger aggressive growth plan.

The bank was one of at least four institutions that placed a bid with the Federal Deposit Insurance Corp. for Clearwater-based Old Harbor Bank, according to research firm SNL. The winning bid went to Boca Raton-based 1st United Bank, which agreed to share $155.6 million in Old Harbor loses with the FDIC.

The Florida Department of Financial Regulation closed Old Harbor Oct. 21, citing undercapitalization issues. Old Harbor was almost bought three months earlier, by Lakewood Ranch-based Community Bank, but a deal fell through.