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Southwest Bancorp, Inc.

Southwest Bancorp, Inc. (OKSB)

28.45
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(0.00%)
Closed March 29 04:00PM
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Current Price
28.45
Bid
28.30
Ask
28.45
Volume
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0.00 Day's Range 0.00
0.00 52 Week Range 0.00
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OKSB Discussion

View Posts
Hedgebunny Hedgebunny 12 years ago
WOW KEV!!! STOKED BRO! WINNER!!!

***** WOW MAN, this stock trades at over 10 dollars per share bro!!!!!!!! THAT"S JUST NAR NAR !!! I bet you only like dollar stocks huh? BRO, you ever speculated about buying stock that trades in the pennies or sub pennies per share???? I bet it would have to be something JUST UNREAL GREAT to get you interested in a penny stock, when your able to play DOLLAR STOCK in my opinion of speculations...... WOW BRO, IMPRESSIVE MAN!!!! HEY, if you ever have any PICKS with PENNY stocks in the sub penny let me know ????? KEV, i bet a talented individual of your caliber probably thinks penny stocks are for SUCKERS, and the real money is in dollar stocks huh????
HEY KEV, if you're ever interested in any CHEAP SUB PENNY STOCKS with Low OS structures of a few million let me know maybe????? Anything your interested in bro, i want to be interested in, just my own opinion of speculations....... Yeahhhh Stoked!!!! lol lol lol.....
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Kev2128 Kev2128 12 years ago
Southwest Bancorp Inc. Completes Repurchase of Capital Purchase Program Securities.

Southwest Bancorp, Inc. (Nasdaq:OKSB) (Nasdaq:OKSBP), ("Southwest"), announced the completion of the repurchase of all $70.0 million of its preferred securities (the "Series B Preferred") sold to the Department of the Treasury in December 2008. The Series B Preferred was issued under the Treasury's Capital Purchase Program ("CPP").

Rick Green, President and CEO, stated, "Completing this repurchase has been a top priority for us. It follows several other achievements, including significant improvements in profitability and credit quality, the termination of formal and informal agreements with federal regulators, and the resumption of regular distributions on Southwest's trust preferred securities."

All funds for the repurchase were internally generated. Southwest and each of its banking subsidiaries remain well capitalized after the repurchase. Southwest will take a one-time, non-cash equity charge of approximately $1.2 million in the third quarter of 2012 to reflect accelerated accretion of the remaining discount on the Series B Preferred. Prior to the repurchase, dividends on the repurchased Series B Preferred, which reduced net income available to common shareholders, were approximately $1.1 million per quarter.

Southwest Bancorp and Subsidiaries


Southwest is the bank holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). Southwest was organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At June 30, 2012 Southwest had total assets of $2.3 billion, deposits of $1.8 billion, and shareholders' equity of $314.6 million.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

Caution About Forward-Looking Statements


Southwest makes forward-looking statements in this news release that are subject to risks and uncertainties. Southwest intends these statements to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include:

View data
-- Statements of Southwest's goals, intentions, and expectations;
-- Estimates of risks and of future costs and benefits;
-- Expectations regarding Southwest's future financial performance and the
financial performance of our operating segments;
-- Expectations regarding regulatory actions;
-- Expectations regarding Southwest's ability to utilize tax loss benefits;
-- Assessments of loan quality, probable loan losses, and the amount and
timing of loan payoffs;
-- Estimates of the value of assets held for sale or available for sale;
and
-- Statements of Southwest's ability to achieve financial and other goals.



-- Statements of Southwest's goals, intentions, and expectations; -- Estimates of risks and of future costs and benefits; -- Expectations regarding Southwest's future financial performance and the financial performance of our operating segments; -- Expectations regarding regulatory actions; -- Expectations regarding Southwest's ability to utilize tax loss benefits; -- Assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs; -- Estimates of the value of assets held for sale or available for sale; and -- Statements of Southwest's ability to achieve financial and other goals.

These forward-looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters. These other matters include, among other things, the direct and indirect effects of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest's past growth and performance do not necessarily indicate Southwest's future results. For other factors, risks, and uncertainties that could cause actual results to differ materially from estimates and projections contained in forward-looking statements, please read the "Risk Factors" contained in Southwest's reports to the Securities and Exchange Commission.

The cautionary statements in this release also identify important factors and possible events that involve risk and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements speak only as of the date on which the statements were made. Southwest does not intend, and undertakes no obligation, to update or revise any forward-looking statements contained in this release, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting such statements, except as required by law.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Southwest Bancorp, Inc.

(Logo: http://media.primezone.com/cache/13093/int/8863.jpg)

CONTACT: For additional information:
Rick Green
President & CEO
Priscilla J. Barnes
Senior EVP & COO
(405) 372-2230
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Underdog Underdog 12 years ago
Hi Kev been real busy for the last few days. The other plays do look good but Im going to go with XRMB for A while. Hope all is well.
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Underdog Underdog 12 years ago
Hay Kev remember you asked me my oppinion about TRON? Well check it out today!WOW pretty good. Delete after reading if you want.
👍️0
Kev2128 Kev2128 12 years ago
Q2 earnings of $0.15 have been announced, beating analyst estimates by $0.00.

Southwest Bancorp Inc. Reports Net Income of $4.1 Million for the Second Quarter of 2012Font size: A | A | A
8:00 AM ET 7/18/12 | GlobeNewswire
Southwest Bancorp, Inc. (Nasdaq:OKSB) (Nasdaq:OKSBP), ("Southwest"), today reported earnings for the second quarter of 2012 of $4.1 million, compared to a loss of ($3.0) million for the second quarter of 2011. Net income available to common shareholders was $3.0 million, or $0.15 per diluted share for the second quarter of 2012, compared to a net loss available to common shareholders of ($4.0) million, or ($0.21) per diluted share for the second quarter of 2011.

Southwest reported earnings for the first half of 2012 of $9.3 million, compared to a loss of ($0.5) million for the first half of 2011. Net income available to common shareholders was $7.1 million, or $0.37 per diluted share, for the first half of 2012, compared to a net loss available to common shareholders of ($2.6) million, or ($0.13) per diluted share, for the first half of 2011.

Rick Green, President and CEO, stated, "Our second quarter was one of continued profitability and regulatory achievements. We are pleased that the total of nonperforming assets plus potential problem loans is down and loan losses continue to decline. These factors, in addition to our smaller loan portfolio, reduced the required loan loss provision, which contributed to our performance. The reduction in loans also resulted in a decrease in net interest income. While we anticipate that further portfolio decreases may occur, we are working to stabilize loan revenue and volume by generating new loans prudently and profitably by focusing on customers in our primary markets.

"As of June 30, 2012, the capital ratios of Southwest and each of its banking subsidiaries continued to substantially exceed the ratios for regulatory classification as "well-capitalized", our nonperforming assets were 2.51% of our noncovered portfolio loans, and our allowance for loan losses was 2.92% of noncovered portfolio loans."

Mr. Green also noted, "We have continued to achieve our regulatory goals. In May 2012, the Office of the Comptroller of the Currency released Stillwater National from the formal regulatory agreement and the individual minimum capital agreement entered in January 2010. Earlier this month, with the consent of the Federal Reserve Bank of Kansas City, we terminated supervisory resolutions that we had adopted at its request in July 2009. Termination of these actions will reduce our regulatory burdens.

"We earlier announced our intention to bring current all dividends on our trust preferred securities and our Series B Preferred Stock owned by the Department of the Treasury. We now have brought current all the trust preferred securities and will bring the Series B Preferred Stock current in the next several days in accordance with its terms.

"Our Series B Preferred Stock carries with it significant burdens, and its dividend rate is scheduled to increase from 5% to 9% after 2013. With the termination of our regulatory agreements and resolutions and our payment of all dividends due, we now have as a top priority the redemption of our Series B Preferred Stock.

"Earlier this year, we reported that I plan to retire as President and CEO in January 2013. I am glad to report that our Board of Directors has made significant progress in identifying President and CEO candidates, has narrowed the field to a pool of highly-qualified finalists, and is proceeding to find the best fit expeditiously."

Key items for the quarter were as follows:

Unless otherwise indicated, the following discussion excludes "covered" assets, which are subject to loss sharing agreements with the FDIC. For information on covered versus noncovered assets, please see the accompanying unaudited financial statement and tables.

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-- Nonperforming loans were $20.7 million, 1.38% of portfolio loans, as of June 30, 2012, an increase of $6.3 million from $14.4 million, 0.92% of portfolio loans, as of March 31, 2012. This increase is primarily the result of one healthcare related loan in our Texas market. -- Nonperforming assets were $38.0 million, or 2.51% of portfolio loans and other real estate, as of June 30, 2012, an increase of $4.2 million (12%) from $33.8 million, or 2.12% of portfolio loans and other real estate, as of March 31, 2012. The increase in nonperforming assets during the second quarter of 2012 is attributable to placing $12.2 million in loans on nonaccrual, offset in part by the receipt of $3.8 million in resolutions and payments on nonperforming loans, the receipt of $1.1 million from sales of other real estate, net charge-offs of $2.2 million in nonperforming loans, and the recognition of impairments in other real estate assets of $1.0 million, which resulted in the Kansas Banking segment second quarter loss. -- Potential problem loans were $111.1 million as of June 30, 2012, a decrease of $15.2 million (12%) from $126.3 million as of March 31, 2012. The decrease in potential problem loans resulted from $15.9 million in resolutions and paydowns, $11.8 million in movement to nonaccrual, and $8.6 million in upgrades, offset in part by the identification of $21.1 million in additional potential problem loans. -- The allowance for loan losses was $43.8 million at June 30, 2012, a decrease of $1.2 million (3%) from March 31, 2012. The allowance for loan losses to portfolio loans was 2.92% as of June 30, 2012 compared to 2.87% as of March 31, 2012. The allowance for loan losses to nonperforming loans was 211.43% as of June 30, 2012 compared to 312.14% as of March 31, 2012. -- Portfolio loans decreased $72.2 million (5%) from March 31, 2012. The decline was anticipated due in part to the change in our lending focus away from larger average size loans. -- The capital ratios of Southwest and each of its banking subsidiaries, as of June 30, 2012, met the criteria for regulatory classification as "well-capitalized". Southwest's total regulatory capital was $404.3 million, for a total risk-based capital ratio of 23.52%, and Tier 1 capital was $382.3 million, for a Tier 1 risk-based capital ratio of 22.24%. Southwest's capital exceeded the minimum to be classified as "well-capitalized" by $232.3 million. Stillwater National Bank, Southwest's principal banking subsidiary, had total regulatory capital of $329.2 million, for a total risk-based capital ratio of 21.42%, and Tier 1 capital of $294.7 million, for a Tier 1 risk-based capital ratio of 19.17%. Stillwater National Bank exceeded the minimum to be classified as "well-capitalized" by $175.5 million. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators. -- At June 30, 2012, the holding company had $22.3 million in available cash.

Financial Overview



Condition: At June 30, 2012 total assets were $2.3 billion, down $113.2 million, or 5%, from December 31, 2011, and total loans were $1.6 billion, down $210.1 million, or 12%, from December 31, 2011.

At June 30, 2012 the noncovered allowance for loan losses was $43.8 million, a decrease of 1% from December 31, 2011. The noncovered allowance for loan losses to noncovered portfolio loans was 2.92% as of June 30, 2012 compared to 2.62% as of December 31, 2011.

Investment securities increased $65.0 million, or 24%, to $340.4 million as of June 30, 2012, from $275.4 million as of December 31, 2011. The increase is primarily the result of a $31.5 million, or 17%, increase in government agency guaranteed residential mortgage-backed securities, a $19.4 million, or 30%, increase in U.S. government and agency securities, a $12.7 million, or 48%, increase in municipal securities, and $1.2 million in other mortgage-backed securities. The investment portfolio is managed to provide safety, liquidity, and collateral for public funds and borrowings. Southwest plans to continue to invest in treasury, U.S. agency, and high grade municipal securities. The investment portfolio continues to be managed in compliance with the current investment policy, including the average duration of the portfolio not exceeding four years.

Total core funding, which includes all non-brokered deposits and sweep repurchase agreements, comprised 98% of total funding as of June 30, 2012, compared to 94% at December 31, 2011. Core funding by segment is as follows as of June 30, 2012 and December 31, 2011, respectively: $1,359.6 million and $1,426.2 million in Oklahoma banking, $155.1 million and $156.2 million in Texas banking, $273.2 million and $273.6 million in Kansas banking, and $27.4 million and $3.9 million in the secondary market and other operations segments. Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 2% of total funding at June 30, 2012, compared to 6% at December 31, 2011. Please see Table 7 for details on these non-GAAP financial measures.

Second Quarter Results:

Summary: For the second quarter of 2012, net income available to common shareholders was $3.0 million, compared to a net loss available to common shareholders of ($4.0) million for the second quarter of 2011. The $7.0 million increase in our net income available to common shareholders from second quarter 2011 is the result of a $20.1 million decrease in the provision for loan losses, offset in part by a $5.2 million decrease in net interest income, a $6.0 million increase in income tax expense, and a $1.8 million increase in noninterest expense.

The second quarter 2012 effective tax rate was 37.12%.

Net Interest Income: Net interest income totaled $19.7 million for the second quarter of 2012, compared to $25.0 million for the second quarter of 2011, a decrease of $5.2 million, or 21%, and to $20.8 million for the first quarter of 2012, a decrease of $1.1 million, or 5%. Lower average loan volume was the primary cause of each of these decreases. Net interest margin was 3.71% for the second quarter of 2012, compared to 3.79% for the second quarter of 2011 and 3.82% for the first quarter of 2012.

Provision for Loan Losses and Net Charge-offs: The provision for loan losses totaled $32,000 for the second quarter of 2012, compared to $20.1 million for second quarter of 2011 and $1.7 million for the first quarter of 2012. Net charge-offs totaled $1.2 million, or 0.31% (annualized) of average portfolio loans for the second quarter of 2012, compared to $26.9 million, or 4.76% (annualized) of average portfolio loans for the second quarter of 2011 and $1.3 million, or 0.32% (annualized) of average portfolio loans for the first quarter of 2012. The provision for loan losses is the amount of expense that is required to maintain the allowance for losses at an appropriate level based upon the inherent risks in the loan portfolio after the effects of net charge-offs for the period.

Noninterest Income: Noninterest income totaled $3.6 million for the second quarter of 2012, compared to $3.6 million for the second quarter of 2011 and $3.5 million for the first quarter of 2012.

Noninterest Expense: Noninterest expense totaled $16.8 million for the second quarter of 2012, compared to $15.0 million for the second quarter of 2011 and $14.3 million for the first quarter of 2012.

The $1.8 million increase from second quarter of 2011 consists of a $2.0 million increase in general and administrative expense, which is primarily the result of the prior year settlement of Oklahoma state tax claims for less than the amount accrued, a $0.4 million increase in personnel expense, and a $0.3 million increase in the provision for unfunded loan commitments, offset in part by a $0.5 million decrease in other real estate expense, a $0.2 million decrease in FDIC and other insurance expense, and a $0.1 million decrease in occupancy expense.

The $2.5 million increase from first quarter of 2012 consists of a $1.7 million increase in other real estate expense due to the fair value write-down of properties and increased expenses, a $0.4 million increase in general and administrative expense due to a second quarter write-down of an investment carried at cost, and a $0.3 million increase in the provision for unfunded loan commitments.

Year-to-date Results:

Summary: Net income available to common shareholders was $7.1 million as of June 30, 2012, compared to a net loss available to common shareholders of ($2.6) million as of June 30, 2011. The $9.7 million increase in our net income available to common shareholders from 2011 is the result of a $27.4 million decrease in the provision for loan losses and a $0.3 million increase in noninterest income, offset in part by a $9.8 million decrease in net interest income, a $7.6 million increase in income tax expense, and a $0.5 million increase in noninterest expense.

The year-to-date effective tax rate was 37.33% as of June 30, 2012.

Net Interest Income: Net interest income totaled $40.6 million for the first six months of 2012, compared to $50.4 million for the first six months of 2011, a decrease of $9.8 million, or 19%. Lower loan volume was the primary cause of this decrease. Year-to-date net interest margin was 3.77%, compared to 3.78% for 2011.

Provision for Loan Losses and Net Charge-offs: The provision for loan losses totaled $1.7 million for the first six months of 2012, compared to $29.2 million for the first six months of 2011. Net charge-offs totaled $2.5 million, or 0.32% (annualized) of average portfolio loans year-to-date as of June 30, 2012, compared to $39.8 million, or 3.49% (annualized) of average portfolio loans for the same period 2011. The provision for loan losses is the amount of expense that is required to maintain the allowance for losses at an appropriate level based upon the inherent risks in the loan portfolio after the effects of net charge-offs for the period.

Noninterest Income: Noninterest income totaled $7.1 million for the first six months of 2012, compared to $6.9 million for the first six months of 2011. The increase in noninterest income was primarily the result of a $0.5 million increase in gain on sale of loans, offset in part by a $0.3 million decline in service charges and fees.

Noninterest Expense: Noninterest expense totaled $31.1 million for the first six months of 2012, compared to $30.6 million for the first six months of 2011. The increase consists of a $1.6 million increase in general and administrative expense, which is primarily the result of the prior year settlement of Oklahoma state tax claims for less than the amount accrued, a $0.4 million increase in the provision for unfunded loan commitments, and a $0.1 million increase in personnel expense, offset in part by a $0.7 million decrease in FDIC and other insurance expense, a $0.6 million decrease in other real estate expense, and a $0.3 million decrease in occupancy expense.

Southwest Bancorp and Subsidiaries



Southwest is the bank holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At June 30, 2012 we had total assets of $2.3 billion, deposits of $1.8 billion, and shareholders' equity of $314.6 million.

Our area of expertise focuses on the special financial needs of healthcare and health professionals, businesses and their managers and owners, and commercial and commercial real estate borrowers. We established a strategic focus on healthcare lending in 1974. We provide credit and other services, such as deposits, cash management, and document imaging for physicians and other healthcare practitioners to start or develop their practices and finance the development and purchase of medical offices, clinics, surgical care centers, hospitals, and similar facilities. As of June 30, 2012, approximately $536.1 million, or 35%, of our noncovered loans were loans to individuals and businesses in the healthcare industry. We conduct regular market reviews of our current and potential healthcare lending and the appropriate concentrations within healthcare based upon economic and regulatory conditions.

We also focus on commercial real estate mortgage and construction credits. We do not focus on one-to-four family residential development loans or "spec" residential property credits. Additionally, subprime residential lending has never been a part of our business strategy, and our exposure to subprime mortgage loans and subprime lenders is minimal. One-to-four family mortgages account for less than 5% of total noncovered loans. As of June 30, 2012 approximately $1.1 billion, or 75%, of our noncovered loans were commercial real estate mortgage and construction loans, including $361.5 million of loans to individuals and businesses in the healthcare industry.

Southwest's common stock is traded on the NASDAQ Global Select Market under the symbol OKSB. Southwest's public trust preferred securities are traded on the NASDAQ Global Select Market under the symbol OKSBP.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

Caution About Forward-Looking Statements



We make forward-looking statements in this news release that are subject to risks and uncertainties. We intend these statements to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include:

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-- Statements of Southwest's goals, intentions, and expectations; -- Estimates of risks and of future costs and benefits; -- Expectations regarding our future financial performance and the financial performance of our operating segments; -- Expectations regarding regulatory actions; -- Expectations regarding our ability to utilize tax loss benefits; -- Assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs; -- Estimates of the value of assets held for sale or available for sale; and -- Statements of our ability to achieve financial and other goals.

These forward-looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters. These other matters include, among other things, the direct and indirect effects of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest's past growth and performance do not necessarily indicate our future results. For other factors, risks, and uncertainties that could cause actual results to differ materially from estimates and projections contained in forward-looking statements, please read the "Risk Factors" contained in Southwest's reports to the Securities and Exchange Commission.

The cautionary statements in this release also identify important factors and possible events that involve risk and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements speak only as of the date on which the statements were made. We do not intend, and undertake no obligation, to update or revise any forward-looking statements contained in this release, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting such statements, except as required by law.

Southwest is required under generally accepted accounting principles to evaluate subsequent events and their impact, if any, on its financial statements as of June 30, 2012 through the date its financial statements are filed with the Securities and Exchange Commission. The June 30, 2012 financial statements included in this release will be adjusted if necessary to properly reflect the impact of subsequent events on estimates used to prepare those statements.

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Financial Tables Unaudited Financial Highlights Table 1 Unaudited Consolidated Statements of Financial Condition Table 2 Unaudited Consolidated Statements of Operations Table 3 Unaudited Average Balances, Yields, and Rates-Quarterly Table 4 Unaudited Average Balances, Yields, and Rates-Year-to-Date Table 5 Unaudited Quarterly Summary Loan Data Table 6 Unaudited Quarterly Summary Financial Data Table 7 Unaudited Quarterly Supplemental Analytical Data Table 8

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Table SOUTHWEST BANCORP, INC. 1 UNAUDITED FINANCIAL HIGHLIGHTS (Dollars in thousands, except per share) Second Quarter First Quarter --------------------------------- -------------------------------- ------------------ QUARTERLY HIGHLIGHTS % % 2012 2011 Change 2012 Change ---------- ---------- -------- ---------- ------ Operations Net interest income $ 19,747 $ 24,985 (21)% $ 20,849 (5)% Provision for loan losses 32 20,140 (100) 1,716 (98) Noninterest income 3,601 3,604 -- 3,514 2 Noninterest expense 16,769 14,980 12 14,309 17 Income (loss) before taxes 6,547 (6,531) (200) 8,338 (21) Taxes on income 2,430 (3,561) (168) 3,127 (22) Net income (loss) 4,117 (2,970) (239) 5,211 (21) Net income (loss) available to common shareholders 3,011 (4,027) (175) 4,119 (27) Diluted earnings per share 0.15 (0.21) (171) 0.21 (29) Balance Sheet Total assets 2,269,720 2,660,495 (15) 2,273,861 (0) Loans held for sale 23,996 37,204 (36) 38,765 (38) Noncovered portfolio loans 1,498,708 2,156,096 (30) 1,570,866 (5) Covered portfolio loans 30,712 46,153 (33) 33,314 (8) Total deposits 1,788,379 2,094,236 (15) 1,806,780 (1) Total shareholders' equity 314,600 376,930 (17) 311,643 1 Book value per common share 12.64 15.89 (20) 12.50 1 Key Ratios Net interest margin 3.71% 3.79% 3.82% Efficiency ratio 71.82 52.40 58.73 Total capital to risk-weighted assets 23.52 20.20 22.49 Nonperforming loans to portfolio loans - noncovered 1.38 7.01 0.92 Shareholders' equity to total assets 13.86 14.17 13.71 Tangible common equity to tangible assets* 10.56 11.38 10.42 Return on average assets (annualized) 0.72 (0.43) 0.89 Return on average common equity (annualized) 4.92 (5.11) 6.84 Return on average tangible common equity (annualized)** 5.06 (5.22) 7.03 --------------------------------------------------------------------------------------- YEAR-TO-DATE HIGHLIGHTS Six Months -------------------------------- % 2012 2011 Change ---------- ---------- -------- Operations Net interest income $ 40,596 $ 50,406 (19)% Provision for loan losses 1,748 29,190 (94) Noninterest income 7,115 6,853 4 Noninterest expense 31,078 30,605 2 Income (loss) before taxes 14,885 (2,536) (687) Taxes on income 5,557 (2,027) (374) Net income (loss) 9,328 (509) (1,933) Net income (loss) available to common shareholders 7,130 (2,619) (372) Diluted earnings per share 0.37 (0.13) (385) Balance Sheet Total assets 2,269,720 2,660,495 (15) Loans held for sale 23,996 37,204 (36) Noncovered portfolio loans 1,498,708 2,156,096 (30) Covered portfolio loans 30,712 46,153 (33) Total deposits 1,788,379 2,094,236 (15) Total shareholders' equity 314,600 376,930 (17) Book value per common share 12.64 15.89 (20) Key Ratios Net interest margin 3.77 % 3.78 % Efficiency ratio (GAAP-based) 65.14 53.45 Total capital to risk-weighted assets 23.52 20.20 Nonperforming loans to portfolio loans - noncovered 1.38 7.01 Shareholders' equity to total assets 13.86 14.17 Tangible common equity to tangible assets* 10.56 11.38 Return on average assets 0.81 (0.04) Return on average common equity 5.87 (1.67) Return on average tangible common equity** 6.04 (1.71) --------------------------------------------------------------------------------------- Balance sheet amounts and ratios are as of period end unless otherwise noted. * This is a Non-GAAP financial measure. Please see Table 8 for a reconciliation to the most directly comparable GAAP based measure. ** This is a Non-GAAP financial measure. Please see accompanying tables for additional financial information.

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SOUTHWEST BANCORP, INC. Table 2 UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Dollars in thousands, except per share) December June 30, 31, June 30, 2012 2011 2011 ----------- ----------- ----------- Assets Cash and due from banks $ 39,539 $ 30,247 $ 26,368 Interest-bearing deposits 236,336 199,642 41,733 ----------- ----------- ----------- Cash and cash equivalents 275,875 229,889 68,101 Securities held to maturity (fair values of $13,735, $15,885, $15,461, respectively) 12,962 15,252 15,419 Securities available for sale (amortized cost of $320,929, $253,869,$248,004, respectively) 327,416 260,100 252,734 Loans held for sale 23,996 38,695 37,204 Noncovered loans receivable 1,498,708 1,687,178 2,156,096 Less: Allowance for loan losses (43,807) (44,233) (54,575) ----------- ----------- ----------- Net noncovered loans receivable 1,454,901 1,642,945 2,101,521 Covered loans receivable (includes loss share: $8,096, $10,073, and $12,101, respectively) 30,712 37,615 46,153 Less: Allowance for loan losses (91) (451) -- ----------- ----------- ----------- Net covered loans receivable 30,621 37,164 46,153 Net loans receivable 1,485,522 1,680,109 2,147,674 Accrued interest receivable 7,014 7,176 7,973 Income tax receivable 24,974 28,666 11,393 Premises and equipment, net 22,436 22,700 23,158 Noncovered other real estate 17,263 19,844 38,956 Covered other real estate 3,825 4,529 3,806 Goodwill 6,811 6,811 6,811 Other intangible assets, net 4,760 4,857 5,069 Other assets 56,866 64,245 42,197 ----------- ----------- ----------- Total assets $ 2,269,720 $ 2,382,873 $ 2,660,495 =========== =========== =========== Liabilities Deposits: Noninterest-bearing demand $ 421,083 $ 400,985 $ 389,027 Interest-bearing demand 119,929 105,905 124,346 Money market accounts 361,839 423,181 465,269 Savings accounts 35,610 33,406 29,586 Time deposits of $100,000 or more 431,317 487,907 570,116 Other time deposits 418,601 469,998 515,892 ----------- ----------- ----------- Total deposits 1,788,379 1,921,382 2,094,236 Accrued interest payable 831 3,689 1,574 Other liabilities 15,470 12,174 9,110 Other borrowings 68,477 56,479 96,682 Subordinated debentures 81,963 81,963 81,963 ----------- ----------- ----------- Total liabilities 1,955,120 2,075,687 2,283,565 Shareholders' equity Serial preferred stock; 2,000,000 shares authorized; 70,000 shares issued and outstanding 68,837 68,455 68,084 Common stock -- $1 par value; 40,000,000 shares authorized; 19,447,202, 19,444,213, 19,439,167 shares issued and outstanding, respectively 19,447 19,444 19,439 Additional paid-in capital 98,899 98,932 99,005 Retained earnings 125,373 118,244 188,174 Accumulated other comprehensive income 2,044 2,111 2,228 ----------- ----------- ----------- Total shareholders' equity 314,600 307,186 376,930 ----------- ----------- ----------- Total liabilities and shareholders' equity $ 2,269,720 $ 2,382,873 $ 2,660,495 =========== =========== ===========

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SOUTHWEST BANCORP, INC. Table 3 UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share) For the three months For the six months ended June 30, ended June 30, ------------------- ------------------- 2012 2011 2012 2011 -------- --------- -------- --------- Interest income Loans $ 21,708 $ 29,478 $ 45,085 $ 60,017 Investment securities 2,139 1,864 4,085 3,610 Other interest-earning assets 193 130 377 270 -------- --------- -------- --------- Total interest income 24,040 31,472 49,547 63,897 Interest expense Interest-bearing deposits 2,542 4,531 5,438 9,664 Other borrowings 222 494 446 991 Subordinated debentures 1,529 1,462 3,067 2,836 -------- --------- -------- --------- Total interest expense 4,293 6,487 8,951 13,491 -------- --------- -------- --------- Net interest income 19,747 24,985 40,596 50,406 Provision for loan losses 32 20,140 1,748 29,190 -------- --------- -------- --------- Net interest income after provision for loan losses 19,715 4,845 38,848 21,216 Noninterest income Service charges and fees 2,931 3,231 5,858 6,109 Gain on sales of loans 582 401 1,117 595 Gain on investment securities 35 -- 35 -- Other noninterest income (loss) 53 (28) 105 149 -------- --------- -------- --------- Total noninterest income 3,601 3,604 7,115 6,853 Noninterest expense Salaries and employee benefits 7,354 6,974 14,601 14,489 Occupancy 2,635 2,703 5,180 5,507 FDIC and other insurance 699 937 1,482 2,180 Other real estate, net 2,059 2,602 2,431 3,038 General and administrative 4,022 1,764 7,384 5,391 -------- --------- -------- --------- Total noninterest expense 16,769 14,980 31,078 30,605 -------- --------- -------- --------- Income (loss) before taxes 6,547 (6,531) 14,885 (2,536) Taxes on income 2,430 (3,561) 5,557 (2,027) -------- --------- -------- --------- Net income (loss) $ 4,117 $ (2,970) $ 9,328 $ (509) -------- --------- -------- --------- Net income (loss) available to common shareholders $ 3,011 $ (4,027) $ 7,130 $ (2,619) ======== ========= ======== ========= Basic earnings per common share $ 0.15 $ (0.21) $ 0.37 $ (0.13) Diluted earnings per common share 0.15 (0.21) 0.37 (0.13) Common dividends declared per share -- -- -- --

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SOUTHWEST BANCORP, INC. Table 4 UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - QUARTERLY (Dollars in thousands) For the three months ended June 30, -------------------------------------------------------------------- 2012 2011 --------------------------------- --------------------------------- Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate ----------- -------- ---------- ----------- -------- ---------- Assets Noncovered loans $ 1,565,342 $ 21,125 5.43% $ 2,250,678 $ 28,551 5.09% Covered loans 31,853 583 7.36 47,427 927 7.84 Investment securities 339,435 2,139 2.53 266,344 1,864 2.81 Other interest-earning assets 202,040 193 82,898 130 ----------- -------- 0.38 ----------- -------- 0.63 Total interest-earning assets 2,138,670 24,040 4.52 2,647,347 31,472 4.77 Other assets 147,822 99,803 ----------- ----------- Total assets $ 2,286,492 $ 2,747,150 =========== =========== Liabilities and Shareholders' Equity Interest-bearing demand deposits $ 120,648 $ 59 0.20% $ 112,942 $ 103 0.37% Money market accounts 356,758 234 0.26 490,559 582 0.48 Savings accounts 34,632 13 0.15 29,154 10 0.14 Time deposits 880,007 2,236 1,165,606 3,836 ----------- -------- 1.02 ----------- -------- 1.32 Total interest-bearing deposits 1,392,045 2,542 0.73 1,798,261 4,531 1.01 Other borrowings 59,754 222 1.49 87,991 494 2.25 Subordinated debentures 81,963 1,529 81,963 1,462 ----------- -------- 7.46 ----------- -------- 7.13 Total interest-bearing liabilities 1,533,762 4,293 1.13 6,487 1.32 -------- ---------- 1,968,215 -------- ---------- Noninterest-bearing demand deposits 387,057 369,700 Other liabilities 50,696 25,066 Shareholders' equity 314,977 384,169 ----------- ----------- Total liabilities and shareholders' equity $ 2,286,492 $ 2,747,150 =========== =========== Net interest income and spread $ 19,747 3.39% $ 24,985 3.45% ======== ========== ======== ========== Net interest margin (1) 3.71% 3.79% ========== ========== Average interest-earning assets to average interest-bearing liabilities 139.44% 134.50% =========== =========== (1) Net interest margin = annualized net interest income / average interest-earning assets

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SOUTHWEST BANCORP, INC. Table 5 UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - YEAR-TO-DATE (Dollars in thousands) For the six months ended June 30, -------------------------------------------------------------------- 2012 2011 --------------------------------- --------------------------------- Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate ----------- -------- ---------- ----------- -------- ---------- Assets Noncovered loans $ 1,614,980 $ 43,848 5.46% $ 2,288,570 $ 58,206 5.13% Covered loans 33,951 1,237 7.33 49,449 1,811 7.39 Investment securities 327,180 4,085 2.51 261,391 3,610 2.79 Other interest-earning assets 191,839 377 87,770 270 ----------- -------- 0.40 ----------- -------- 0.62 Total interest-earning assets 2,167,950 49,547 4.60 2,687,180 63,897 4.80 Other assets 153,370 95,825 ----------- ----------- Total assets $ 2,321,320 $ 2,783,005 =========== =========== Liabilities and Shareholders' Equity Interest-bearing demand deposits $ 120,626 $ 129 0.22% $ 112,693 $ 227 0.41% Money market accounts 375,289 520 0.28 490,931 1,259 0.52 Savings accounts 34,609 26 0.15 28,451 26 0.18 Time deposits 905,900 4,763 1,206,650 8,152 ----------- -------- 1.06 ----------- -------- 1.36 Total interest-bearing deposits 1,436,424 5,438 0.76 1,838,725 9,664 1.06 Other borrowings 57,301 446 1.57 89,088 991 2.24 Subordinated debentures 81,963 3,067 81,963 2,836 ----------- -------- 7.48 ----------- -------- 6.92 Total interest-bearing liabilities 1,575,688 8,951 1.14 13,491 1.35 -------- ---------- 2,009,776 -------- ---------- Noninterest-bearing demand deposits 383,008 367,444 Other liabilities 49,692 22,445 Shareholders' equity 312,932 383,340 ----------- ----------- Total liabilities and shareholders' equity $ 2,321,320 $ 2,783,005 =========== =========== Net interest income and spread $ 40,596 3.46% $ 50,406 3.45% ======== ========== ======== ========== Net interest margin (1) 3.77% 3.78% ========== ========== Average interest-earning assets to average interest-bearing liabilities 137.59% 133.71% =========== =========== (1) Net interest margin = annualized net interest income / average interest-earning assets

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SOUTHWEST BANCORP, INC. Table 6 UNAUDITED QUARTERLY SUMMARY LOAN DATA (Dollars in thousands, except per share) ------------------------ -------------------------------------------------- 2012 2011 ------------------------ -------------------------------------------------- Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- LOAN COMPOSITION Noncovered: Real estate mortgage: Commercial $ 931,239 $ 996,486 $ 1,028,561 $ 1,169,010 $ 1,262,753 $ 1,302,164 One-to-four family residential 74,390 76,287 80,375 85,272 87,407 87,286 Real estate construction Commercial 211,098 222,678 227,098 348,053 372,576 403,635 One-to-four family residential 4,184 3,814 4,987 25,527 26,400 26,758 Commercial 263,085 273,324 346,266 367,241 404,229 416,392 Installment and consumer: Guaranteed student loans 5,153 5,276 5,396 5,547 5,600 5,700 Other 33,555 31,766 33,190 32,946 34,335 36,493 ----------- ----------- ----------- ----------- ----------- ----------- Total noncovered loans, including held for sale 1,522,704 1,609,631 1,725,873 2,033,596 2,193,300 2,278,428 Less allowance for loan losses (43,807) (45,023) (44,233) (64,698) (54,575) (61,285) ----------- ----------- ----------- ----------- ----------- ----------- Total noncovered loans, net $ 1,478,897 $ 1,564,608 $ 1,681,640 $ 1,968,898 $ 2,138,725 $ 2,217,143 =========== =========== =========== =========== =========== =========== Covered: Real estate mortgage: Commercial $ 21,472 $ 22,607 $ 23,686 $ 23,201 $ 26,976 $ 28,929 One-to-four family residential 5,432 5,766 7,072 7,378 8,113 8,192 Real estate construction Commercial 1,627 2,344 3,746 5,987 6,001 6,144 One-to-four family residential -- -- -- -- 172 281 Commercial 2,033 2,401 2,841 4,286 4,461 5,021 Installment and consumer: 148 196 270 357 430 550 ----------- ----------- ----------- ----------- ----------- ----------- Total covered loans 30,712 33,314 37,615 41,209 46,153 49,117 Less allowance for loan losses (91) (60) (451) -- -- -- ----------- ----------- ----------- ----------- ----------- ----------- Total covered loans, net $ 30,621 $ 33,254 $ 37,164 $ 41,209 $ 46,153 $ 49,117 =========== =========== =========== =========== =========== =========== LOANS BY SEGMENT Oklahoma banking $ 597,506 $ 642,700 $ 688,592 $ 770,306 $ 834,189 $ 838,006 Texas banking 596,262 636,540 665,010 845,485 911,134 953,123 Kansas banking 198,404 202,050 238,468 252,302 260,431 272,685 Out of market 137,248 122,890 132,723 166,810 196,495 226,383 ----------- ----------- ----------- ----------- ----------- ----------- Subtotal 1,529,420 1,604,180 1,724,793 2,034,903 2,202,249 2,290,197 Secondary market 23,996 38,765 38,695 39,902 37,204 37,348 ----------- ----------- ----------- ----------- ----------- ----------- Total loans $ 1,553,416 $ 1,642,945 $ 1,763,488 $ 2,074,805 $ 2,239,453 $ 2,327,545 =========== =========== =========== =========== =========== =========== NONPERFORMING LOANS BY TYPE Construction & development $ 3,608 $ 3,768 $ 3,877 $ 68,554 $ 73,487 $ 68,183 Commercial real estate 4,932 6,821 4,667 56,234 60,857 47,986 Commercial 10,878 2,209 3,374 6,080 15,224 16,633 One-to-four family residential 1,125 1,508 1,491 1,706 1,457 2,634 Consumer 176 118 140 152 153 27 ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans - noncovered $ 20,719 $ 14,424 $ 13,549 $ 132,726 $ 151,178 $ 135,463 =========== =========== =========== =========== =========== =========== NONPERFORMING LOANS BY SEGMENT Oklahoma banking $ 2,305 $ 2,864 $ 3,699 $ 14,932 $ 18,870 $ 13,443 Texas banking 11,526 2,258 83 95,191 91,449 87,122 Kansas banking 6,214 8,617 9,070 7,976 9,725 7,924 Out of market 674 685 697 14,627 31,134 26,974 ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans - noncovered $ 20,719 $ 14,424 $ 13,549 $ 132,726 $ 151,178 $ 135,463 =========== =========== =========== =========== =========== =========== OTHER REAL ESTATE BY TYPE Construction & development $ 2,585 $ 3,542 $ 3,542 $ 38,927 $ 12,588 $ 6,304 Commercial real estate 14,129 14,854 15,464 24,364 16,300 23,890 One-to-four family residential 549 933 838 7,494 10,068 10,873 ----------- ----------- ----------- ----------- ----------- ----------- Total other real estate - noncovered $ 17,263 $ 19,329 $ 19,844 $ 70,785 $ 38,956 $ 41,067 =========== =========== =========== =========== =========== =========== OTHER REAL ESTATE BY SEGMENT Oklahoma banking $ 6,178 $ 6,273 $ 6,178 $ 8,709 $ 2,613 $ 4,616 Texas banking 9,162 9,846 9,846 35,270 17,398 18,652 Kansas banking 1,923 3,210 3,210 12,390 14,539 12,848 Out of market -- -- 610 14,416 4,406 4,951 ----------- ----------- ----------- ----------- ----------- ----------- Total other real estate - noncovered $ 17,263 $ 19,329 $ 19,844 $ 70,785 $ 38,956 $ 41,067 =========== =========== =========== =========== =========== =========== POTENTIAL PROBLEM LOANS BY TYPE Construction & development $ 25,563 $ 33,907 $ 43,607 $ 75,867 $ 111,032 $ 111,204 Commercial real estate 71,537 67,654 55,873 162,692 140,079 85,833 Commercial 12,753 23,506 32,477 37,027 38,850 19,940 One-to-four family residential 1,230 1,253 1,082 1,108 1,210 429 ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem loans - noncovered $ 111,083 $ 126,320 $ 133,039 $ 276,694 $ 291,171 $ 217,406 =========== =========== =========== =========== =========== =========== POTENTIAL PROBLEM LOANS BY SEGMENT Oklahoma banking $ 37,320 $ 32,761 $ 27,481 $ 54,310 $ 42,565 $ 30,678 Texas banking 58,021 78,961 83,035 163,973 183,486 114,506 Kansas banking 3,118 1,893 836 14,530 11,289 19,472 Out of market 12,624 12,705 21,687 43,881 53,831 52,750 ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem loans - noncovered $ 111,083 $ 126,320 $ 133,039 $ 276,694 $ 291,171 $ 217,406 =========== =========== =========== =========== =========== =========== Continued SOUTHWEST BANCORP, INC. Table 6 UNAUDITED QUARTERLY SUMMARY LOAN DATA Continued (Dollars in thousands, except per share) ------------------------ -------------------------------------------------- 2012 2011 ------------------------ -------------------------------------------------- Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- OUT OF MARKET LOANS Net balance out of market loans: Arizona $ 39,449 $ 34,749 $ 26,372 $ 35,978 $ 49,977 $ 57,657 Iowa 23,022 23,130 26,494 26,626 26,695 26,759 Ohio 11,502 12,650 12,741 9,367 9,568 9,963 California 9,922 10,252 10,530 10,737 9,814 9,984 Kentucky 9,455 517 488 490 492 494 South Carolina 7,320 -- -- -- -- -- Tennessee 6,310 6,368 6,427 6,484 6,550 6,606 Florida 6,240 6,269 6,421 6,374 10,582 7,600 Louisiana 4,974 4,931 5,336 5,644 5,963 8,018 New Mexico 3,714 3,715 15,215 21,019 21,092 28,226 Other 15,340 20,309 22,699 44,091 55,762 71,076 ----------- ----------- ----------- ----------- ----------- ----------- Total out of market loans $ 137,248 $ 122,890 $ 132,723 $ 166,810 $ 196,495 $ 226,383 =========== =========== =========== =========== =========== =========== Nonperforming out of market loans: Florida $ 287 $ 293 $ 299 $ 305 $ 1,479 $ 1,479 Arizona 256 261 267 8,441 16,745 10,316 Colorado 131 131 131 746 4,909 880 New Mexico -- -- -- 5,135 5,135 11,827 Alabama -- -- -- -- 157 172 Other -- -- -- -- 2,709 2,300 ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming out of market loans $ 674 $ 685 $ 697 $ 14,627 $ 31,134 $ 26,974 =========== =========== =========== =========== =========== =========== Potential problem out of market loans: Iowa $ 11,970 $ 12,035 $ -- $ -- $ -- $ -- New Mexico -- -- 11,542 11,589 11,635 -- Arizona -- -- 9,463 10,287 14,865 25,242 California 559 570 578 593 9,423 9,575 Florida 95 100 104 108 116 -- Colorado -- -- -- 17,034 13,500 17,933 Alabama -- -- -- 4,270 4,292 -- ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem out of market loans $ 12,624 $ 12,705 $ 21,687 $ 43,881 $ 53,831 $ 52,750 =========== =========== =========== =========== =========== =========== ALLOWANCE ACTIVITY Balance, beginning of period $ 45,083 $ 44,684 $ 64,698 $ 54,575 $ 61,285 $ 65,229 Charge offs 2,229 1,936 99,604 16,067 27,562 13,392 Recoveries 1,012 619 1,305 1,564 712 398 ----------- ----------- ----------- ----------- ----------- ----------- Net charge offs 1,217 1,317 98,299 14,503 26,850 12,994 Provision for loan losses 32 1,716 78,285 24,626 20,140 9,050 ----------- ----------- ----------- ----------- ----------- ----------- Balance, end of period $ 43,898 $ 45,083 $ 44,684 $ 64,698 $ 54,575 $ 61,285 =========== =========== =========== =========== =========== =========== NET CHARGE OFFS BY TYPE Construction & development $ (85) $ (42) $ 41,513 $ 7,177 $ 10,847 $ 1,012 Commercial real estate 91 14 50,070 5,702 7,593 7,290 Commercial 1,228 1,211 6,434 1,469 7,999 4,337 One-to-four family residential (105) 123 1 55 165 58 Consumer 88 11 281 100 246 297 ----------- ----------- ----------- ----------- ----------- ----------- Total net charge offs by type $ 1,217 $ 1,317 $ 98,299 $ 14,503 $ 26,850 $ 12,994 =========== =========== =========== =========== =========== =========== NET CHARGE OFFS BY SEGMENT Oklahoma banking $ (204) $ 1,070 $ 13,210 $ 1,058 $ 1,442 $ 1,593 Texas banking 1,139 229 64,370 7,386 9,163 4,502 Kansas banking 324 166 8,872 361 1,791 372 Out of market (42) (148) 11,847 5,698 14,454 6,527 ----------- ----------- ----------- ----------- ----------- ----------- Total net charge offs by segment $ 1,217 $ 1,317 $ 98,299 $ 14,503 $ 26,850 $ 12,994 =========== =========== =========== =========== =========== =========== SOUTHWEST BANCORP, INC. Table 7 UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA (Dollars in thousands, except per share) ------------------------ -------------------------------------------------- 2012 2011 ------------------------ -------------------------------------------------- Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- NET INCOME (LOSS) BY SEGMENT Oklahoma banking $ 4,497 $ 3,158 $ (5,586) $ 7 $ 5,290 $ 3,435 Texas banking 1,435 3,161 (35,435) (6,455) 1,575 1,079 Kansas banking (424) 1,239 (7,533) (612) 971 131 Out of market 693 (570) (7,857) (1,947) (9,039) (924) ----------- ----------- ----------- ----------- ----------- ----------- Subtotal 6,201 6,988 (56,411) (9,007) (1,203) 3,721 Secondary market 124 286 144 90 127 (13) Other operations (2,208) (2,063) (1,994) (608) (1,894) (1,247) ----------- ----------- ----------- ----------- ----------- ----------- Net income (loss) $ 4,117 $ 5,211 $ (58,261) $ (9,525) $ (2,970) $ 2,461 =========== =========== =========== =========== =========== =========== PER SHARE DATA Basic earnings per common share $ 0.15 $ 0.21 $ (3.05) $ (0.54) $ (0.21) $ 0.07 Diluted earnings per common share 0.15 0.21 (3.05) (0.54) (0.21) 0.07 Book value per common share 12.64 12.50 12.28 15.37 15.89 16.02 Tangible book value per share* 12.29 12.15 11.93 15.02 15.54 15.67 COMMON STOCK Shares issued and outstanding 19,447,202 19,445,913 19,444,213 19,441,577 19,439,167 19,438,290 OTHER FINANCIAL DATA Investment securities $ 340,378 $ 333,860 $ 275,352 $ 269,599 $ 268,153 $ 258,436 Loans held for sale 23,996 38,765 38,695 39,902 37,204 37,348 Noncovered portfolio loans 1,498,708 1,570,866 1,687,178 1,993,694 2,156,096 2,241,080 Total noncovered loans 1,522,704 1,609,631 1,725,873 2,033,596 2,193,300 2,278,428 Covered portfolio loans 30,712 33,314 37,615 41,209 46,153 49,117 Total assets 2,269,720 2,273,861 2,382,873 2,572,492 2,660,495 2,779,028 Total deposits 1,788,379 1,806,780 1,921,382 2,022,253 2,094,236 2,218,571 Other borrowings 68,477 55,139 56,479 86,583 96,682 85,332 Subordinated debentures 81,963 81,963 81,963 81,963 81,963 81,963 Total shareholders' equity 314,600 311,643 307,186 367,024 376,930 379,350 Mortgage servicing portfolio 305,465 301,378 295,492 285,886 283,083 281,271 INTANGIBLE ASSET DATA Goodwill $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 Core deposit intangible 2,785 2,906 3,030 3,155 3,285 3,420 Mortgage servicing rights 1,975 1,952 1,825 1,808 1,781 1,718 Nonmortgage servicing rights -- -- 2 3 3 3 ----------- ----------- ----------- ----------- ----------- ----------- Total intangible assets $ 11,571 $ 11,669 $ 11,668 $ 11,777 $ 11,880 $ 11,952 =========== =========== =========== =========== =========== =========== Intangible amortization expense $ 282 $ 296 $ 252 $ 226 $ 222 $ 361 ----------- ----------- ----------- ----------- ----------- ----------- DEPOSIT COMPOSITION Non-interest bearing demand $ 421,083 $ 395,141 $ 400,985 $ 388,365 $ 389,027 $ 369,013 Interest-bearing demand 119,929 119,759 105,905 98,270 124,346 112,731 Money market accounts 361,839 349,419 423,181 461,546 465,269 486,770 Savings accounts 35,610 34,679 33,406 31,319 29,586 28,440 Time deposits of $100,000 or more 431,317 464,876 487,907 551,914 570,116 669,817 Other time deposits 418,601 442,906 469,998 490,839 515,892 551,800 ----------- ----------- ----------- ----------- ----------- ----------- Total deposits** $ 1,788,379 $ 1,806,780 $ 1,921,382 $ 2,022,253 $ 2,094,236 $ 2,218,571 =========== =========== =========== =========== =========== =========== OFFICES AND EMPLOYEES FTE Employees 430 435 435 437 437 424 Branches 23 23 23 23 23 23 Loan production offices 2 2 2 2 2 2 Assets per employee $ 5,278 $ 5,227 $ 5,478 $ 5,887 $ 6,088 $ 6,554 *This is a Non-GAAP based financial measure. **Calculation of Non-brokered Deposits and Core Funding (Non-GAAP Financial Measures) Total deposits $ 1,788,379 $ 1,806,780 $ 1,921,382 $ 2,022,253 $ 2,094,236 $ 2,218,571 Less: Brokered time deposits 12,238 13,307 14,974 46,838 52,407 122,124 Other brokered deposits 4,420 6,529 78,236 105,483 105,392 112,033 ----------- ----------- ----------- ----------- ----------- ----------- Non-brokered deposits $ 1,771,721 $ 1,786,944 $ 1,828,172 $ 1,869,932 $ 1,936,437 $ 1,984,414 ----------- ----------- ----------- ----------- ----------- ----------- Plus: Sweep repurchase agreements 43,477 30,139 31,482 40,305 30,636 27,214 ----------- ----------- ----------- ----------- ----------- ----------- Core funding $ 1,815,198 $ 1,817,083 $ 1,859,654 $ 1,910,237 $ 1,967,073 $ 2,011,628 =========== =========== =========== =========== =========== =========== Balance sheet amounts are as of period end unless otherwise noted. SOUTHWEST BANCORP, INC. Table 8 UNAUDITED QUARTERLY SUPPLEMENTAL ANALYTICAL DATA (Dollars in thousands, except per share) ------------------------ -------------------------------------------------- 2012 2011 ------------------------ -------------------------------------------------- Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- PERFORMANCE RATIOS Return on average assets (annualized) 0.72% 0.89% (8.96)% (1.43)% (0.43)% 0.35% Return on average common equity (annualized) 4.92 6.84 (79.48) (13.42) (5.11) 1.81 Return on average tangible common equity (annualized)* 5.06 7.03 (81.35) (13.72) (5.22) 1.85 Net interest margin (annualized) 3.71 3.82 3.62 3.77 3.79 3.78 Effective tax rate 37.12 37.50 38.49 35.23 54.53 38.40 Efficiency ratio 71.82 58.73 164.47 64.07 52.40 54.50 NONPERFORMING ASSETS Noncovered: Nonaccrual loans $ 20,474 $ 14,324 $ 13,506 $ 132,268 $ 151,135 $ 134,934 90 days past due and accruing 245 100 43 458 43 529 ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans 20,719 14,424 13,549 132,726 151,178 135,463 Other real estate 17,263 19,329 19,844 70,785 38,956 41,067 ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming assets $ 37,982 $ 33,753 $ 33,393 $ 203,511 $ 190,134 $ 176,530 =========== =========== =========== =========== =========== =========== Performing restructured $ 328 $ 1,700 $ 1,017 $ 1,026 $ 3,191 $ 2,166 ----------- ----------- ----------- ----------- ----------- ----------- Potential problem loans $ 111,083 $ 126,320 $ 133,039 $ 276,694 $ 291,171 $ 217,406 ----------- ----------- ----------- ----------- ----------- ----------- Covered: Nonaccrual loans $ 6,067 $ 7,015 $ 7,128 $ 7,065 $ 9,800 $ 9,809 90 days past due and accruing -- -- -- 610 -- -- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans 6,067 7,015 7,128 7,675 9,800 9,809 Other real estate 3,825 4,694 4,529 5,350 3,806 4,016 ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming assets $ 9,892 $ 11,709 $ 11,657 $ 13,025 $ 13,606 $ 13,825 =========== =========== =========== =========== =========== =========== Performing restructured $ 1,701 $ -- $ -- $ -- $ -- $ -- ----------- ----------- ----------- ----------- ----------- ----------- Potential problem loans $ 1,573 $ 553 $ 912 $ 2,015 $ 2,731 $ 3,444 ----------- ----------- ----------- ----------- ----------- ----------- ASSET QUALITY RATIOS Net loan charge-offs to average portfolio loans (annualized) 0.31% 0.32% 19.78% 2.70% 4.76% 2.25% Noncovered: Nonperforming assets to portfolio loans and other real estate 2.51% 2.12% 1.96% 9.86% 8.66% 7.74% Nonperforming loans to portfolio loans 1.38 0.92 0.80 6.66 7.01 6.04 Allowance for loan losses to portfolio loans 2.92 2.87 2.62 3.25 2.53 2.73 Allowance for loan losses to nonperforming loans 211.43 312.14 326.47 48.75 36.10 45.24 Covered: Nonperforming assets to portfolio loans and other real estate 28.64% 30.81% 27.66% 27.98% 27.23% 26.02% Nonperforming loans to portfolio loans 19.75 21.06 18.95 18.62 21.23 19.97 Allowance for loan losses to portfolio loans 0.30 0.18 1.20 -- -- -- Allowance for loan losses to nonperforming loans 1.50 0.86 6.33 -- -- -- CAPITAL RATIOS Average total shareholders' equity to average assets 13.78% 13.19% 14.14% 14.39% 13.98% 13.57% Leverage ratio 16.84 16.20 14.50 16.47 16.25 15.95 Tier 1 capital to risk-weighted assets 22.24 21.21 19.51 19.54 18.93 18.49 Total capital to risk-weighted assets 23.52 22.49 20.78 20.81 20.20 19.77 Tangible common equity to tangible assets*** 10.56 10.42 9.76 11.38 11.38 10.99 REGULATORY CAPITAL DATA Tier I capital $ 382,262 $ 378,949 $ 374,552 $ 433,628 $ 444,106 $ 447,803 Total capital 404,251 401,808 398,945 461,929 473,950 478,713 Total risk adjusted assets 1,719,057 1,786,282 1,920,075 2,219,271 2,346,596 2,421,752 Average total assets 2,269,639 2,339,784 2,562,094 2,633,000 2,733,561 2,807,518 *This is a Non-GAAP based financial measure. ***Calculation of Tangible Capital to Tangible Assets (Non-GAAP Financial Measure) Total shareholders' equity $ 314,600 $ 311,643 $ 307,186 $ 367,024 $ 376,930 $ 379,350 Less: Goodwill 6,811 6,811 6,811 6,811 6,811 6,811 Preferred stock 68,837 68,644 68,455 68,268 68,084 67,902 ----------- ----------- ----------- ----------- ----------- ----------- Tangible common equity $ 238,952 $ 236,188 $ 231,920 $ 291,945 $ 302,035 $ 304,637 =========== =========== =========== =========== =========== =========== Total assets $ 2,269,720 $ 2,273,861 $ 2,382,873 $ 2,572,492 $ 2,660,495 $ 2,779,028 Less goodwill 6,811 6,811 6,811 6,811 6,811 6,811 ----------- ----------- ----------- ----------- ----------- ----------- Tangible assets $ 2,262,909 $ 2,267,050 $ 2,376,062 $ 2,565,681 $ 2,653,684 $ 2,772,217 =========== =========== =========== =========== =========== =========== Tangible common equity to tangible assets 10.56% 10.42% 9.76% 11.38% 11.38% 10.99% Balance sheet amounts and ratios are as of period end unless otherwise noted.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Southwest Bancorp, Inc.

(Logo: http://media.primezone.com/cache/13093/int/8863.jpg)

CONTACT: Rick Green
President & CEO
Priscilla J. Barnes
Senior EVP & COO
(405) 372-2230
👍️0
Underdog Underdog 12 years ago
http://ih.advfn.com/p.php?pid=nmona&article=53505246
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Underdog Underdog 12 years ago
Good job Kev. Good to see you making money.
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Kev2128 Kev2128 12 years ago
Southwest Bancorp Inc. Announces Distribution on Trust Preferred and Common Securities.

5:30 PM ET 5/29/12 | GlobeNewswire
Southwest Bancorp, Inc., (Nasdaq:OKSB) (Nasdaq:OKSBP), ("Southwest") announced today the declaration of a distribution of $2.73 per security on the preferred and common securities, liquidation amount $25.00 per security, issued by Southwest Capital Trust (the "Trust"). The distributions are payable on June 15, 2012 to holders of record as of June 1, 2012, pursuant to the terms of the Trust's Amended and Restated Declaration of Trust dated July 2, 2008.

Information regarding the payment and record dates and distribution amounts for distributions after June 15, 2012 will be posted on Southwest's website, www.OKSB.com, at the "Dividends" tab.

Southwest is the holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At March 31, 2012 we had total assets of $2.3 billion, deposits of $1.8 billion, and shareholders' equity of $311.6 million.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Southwest Bancorp, Inc.

(Logo: http://media.primezone.com/cache/13093/int/8863.jpg)

CONTACT: Rick Green
President & CEO
Priscilla J. Barnes
Senior EVP & COO
(405) 372-2230
👍️0
Kev2128 Kev2128 12 years ago
Southwest Bancorp Inc. Reports Organizational Changes.
4:10 PM ET 4/4/12 | GlobeNewswire
Southwest Bancorp, Inc. (Nasdaq:OKSB) (Nasdaq:OKSBP) ("Southwest" or the "Company"), parent bank holding company of Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas, is pleased to announce the promotion and appointment of three executive managers identified below.

Rick Green, President, Chief Executive Officer, and Vice Chairman stated, "We are very fortunate to be able to strengthen our management team through the organizational changes announced today. The officers whose appointments are announced today are highly effective managers identified from both inside and outside Southwest. Each of them is a seasoned banker or banking lawyer. Each also played a critical role in our $300 million in asset sales in the fourth quarter of 2011, which positions Southwest for the future."

In the fourth quarter of 2011, Southwest closed on the sale of approximately $300 million in loans and other real estate. At year-end 2011, primarily as a result of these asset sales, Southwest had substantially improved its credit quality while maintaining a level of capital well above regulatory requirements.

Priscilla Barnes, age 55, has been promoted to Senior Executive Vice President and Chief Operating Officer, reporting to the President and Chief Executive Officer Rick Green. She has a proven, consistent track record of management achievements over her seven years at Southwest, and played a crucial role in improving our credit quality, including providing executive management of the fourth quarter 2011 asset sales. Ms. Barnes previously served as Executive Vice President and Chief Credit Officer of Southwest, Stillwater National, and Bank of Kansas. She has thirty-two years of bank experience including service as a banker, bank director, and federal banking regulator, among others.

Brent Bates, age 37, has been promoted to Executive Vice President and Chief Credit Officer. He previously served as Senior Vice President and Senior Credit Officer of Stillwater National. From 2003 until joining us in September 2011, Mr. Bates held various credit-related positions at Arvest Bank, Oklahoma City, OK, including Vice President and Manager of Commercial Credit Analysis, Commercial Loan and Bond Workout Officer, and Senior Loan Review Officer. He also served nearly five years as a safety and soundness bank examiner for the Federal Reserve Bank of Kansas City as well as the Texas Department of Banking. He was the principal manager for the Company's fourth quarter asset sales.

Rusty LaForge, age 37, joined us on April 2, 2012, as Executive Vice President and General Counsel. He most recently was an attorney with McAfee & Taft, serving as the practice group leader for the firm's Banking and Financial Institutions practice group, where he concentrated on regulatory and transactional matters affecting banks, bank holding companies, and other financial firms. He served as principal legal counsel for the Company's fourth quarter asset sales.

Each of these appointments is subject to the customary after the fact regulatory review, which we are confident will be successfully completed in the near future.

Chief Executive Officer

Mr. Green further announced that he and the board of directors have begun a search for his successor CEO. "The appointments announced today position the Company well going forward. I would like for two of my last accomplishments at Southwest to be leaving a strong management team in place as well as finding a successor CEO who is ready to lead Southwest into the future. My goal has always been to retire at age 65, and I believe this is an opportune time to start that process. Southwest is well-positioned to capitalize on the opportunities ahead with improved credit quality and capital that substantially exceeds regulatory standards."

Mr. Green and Southwest's board of directors will conduct a national search and have engaged a search firm, Fraser Keating Associates, LLC, to assist in identifying a successor President and CEO for Southwest. Mr. Green will continue to serve as CEO, will work with Southwest's board of directors to ensure the successful identification of a successor CEO and, once a successor CEO is named, will facilitate in the transition of executive responsibilities. Mr. Green intends to fully retire in January 2013, provided a successor is in place at that time.

Robert Rodgers, Chairman of the Board, said, "On behalf of the Board, I would like to express our appreciation for the many years of dedicated service Rick has provided to the Company. We believe that the recent decisions and restructurings within Southwest under Rick's leadership have positioned the Company to attract an experienced, well-qualified individual to replace our long-time, respected CEO."

Rick Green was appointed the Chief Executive Officer of Southwest effective January 1, 1999. Mr. Green previously served as Chief Operating Officer, President of the Central Oklahoma division, and Executive Vice President of Stillwater National. Among his many achievements are the development of the Company's healthcare specialty, which accounted for over $600 million of our loans at year-end 2011; growing the Company to over $2 billion in total assets; establishment and development of Stillwater National's Oklahoma City operations; and expansion into Texas and Kansas.

Ms. Barnes, the Company's new Chief Operating Officer, stated, "Rick has positioned the Company well to capitalize on the opportunities ahead. On behalf of all Southwest employees, we thank Rick for his many years of service as we prepare for the future of the Company under new leadership."

Southwest Bancorp and Subsidiaries

Southwest is the bank holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At December 31, 2011 we had total assets of $2.4 billion, deposits of $1.9 billion, and shareholders' equity of $307.2 million.

Southwest's common stock is traded on the NASDAQ Global Select Market under the symbol OKSB. Southwest's public trust preferred securities are traded on the NASDAQ Global Select Market under the symbol OKSBP.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

Caution About Forward-Looking Statements

We make forward-looking statements in this news release that are subject to risks and uncertainties. We intend these statements to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include, among others:

View data
-- Statements of Southwest's goals, intentions, and expectations; -- Estimates of risks and of future costs and benefits; -- Expectations regarding our future financial performance and the financial performance of our operating segments; -- Expectations regarding regulatory actions; -- Expectations regarding our ability to utilize tax loss benefits; -- Assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs; -- Estimates of the value of assets held for sale or available for sale; and -- Statements of our ability to achieve financial and other goals.

These forward-looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters. These other matters include, among other things, the direct and indirect effects of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest's past growth and performance do not necessarily indicate our future results. For other factors, risks, and uncertainties that could cause actual results to differ materially from estimates and projections contained in forward-looking statements, please read the "Risk Factors" contained in Southwest's reports to the Securities and Exchange Commission.

The cautionary statements in this release also identify important factors and possible events that involve risk and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements speak only as of the date on which the statements were made. We do not intend to, and undertake no obligation to, update or revise any forward-looking statements contained in this release, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting such statements, except as required by law.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Southwest Bancorp, Inc.

CONTACT: Rick Green
President & CEO
Laura Robertson
EVP & CFO
(405) 372-2230
Contact for Search Inquiries Only:
Fraser Keating Associates, LLC
Anne F. Keating, Principal
AKeating@FraserKeating.com
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Underdog Underdog 12 years ago
Southwest Bancorp Inc. Reports Organizational Changes

This news looks good to me ,but yet OKSB dropped 3.65%. But it was A down market day today also.
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d0lphint0m d0lphint0m 12 years ago
Jim, thanks for the post but I am not going to post on that board any longer. Egotism and egoism puts me in a bad frame of mind. If you wish to communicate please PM your email address.
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Kev2128 Kev2128 12 years ago
Oh yeah buddy!
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Underdog Underdog 12 years ago
OKSB making some real nice gains. What A beautiful trend too.
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Kev2128 Kev2128 12 years ago
Southwest Bancorp Inc. Reports Fourth Quarter and 2011 Results.

8:00 AM ET 1/24/12 | GlobeNewswire
Southwest Bancorp, Inc. (Nasdaq:OKSB) (Nasdaq:OKSBP), ("Southwest"), today reported a net loss available to common shareholders of ($59.3) million, or ($3.05) per diluted share for the fourth quarter of 2011, compared to net income available to common shareholders of $3.3 million, or $0.17 per diluted share for the fourth quarter of 2010. Fourth quarter results in 2011 include the pretax loss of ($101.0) million resulting from the sale of nonperforming assets and potential problem loans.

The net loss available to common shareholders for the year ended December 31, 2011 was ($72.5) million, or ($3.73) per diluted share, compared to net income available to common shareholders for the year ended December 31, 2010 of $12.8 million, or $0.71 per diluted share.

"We ended the year with successful sales of approximately $300 million of loans and other real estate," Rick Green, President and CEO, stated. "Approximately $170 million of the total were nonperforming assets. The remaining assets sold were classified worse than "pass" in our credit risk system or were pass assets related to other assets sold. These sales immediately and substantially reduced our nonperforming assets and potential problem loans. We believe this action is a major step toward achieving our goals."

Background

"We began 2011 with continued high levels of nonperforming and potential problem assets. In the spring of 2011, we reorganized and strengthened our credit, loan review and workout functions. During the year, we had success in resolving credits, but downgrades and new problem assets, mainly driven by real estate appraisal decreases, kept our total levels of unresolved credits unsatisfactorily high. The levels significantly affected our earnings.

"Faced with these facts, management and the Board of Directors considered our alternatives for bringing nonperforming and potential problem assets to healthier levels:

Do we take action to eliminate the pool of higher risk loans by selling a substantial amount of nonperforming and potential problem loans to immediately reduce the risk and improve our future prospects?

or

Do we continue to "work out" these loans over some unknown period and with uncertain earnings impact?"

Decision

"Southwest's Board of Directors carefully considered the potential costs and benefits to Southwest and its shareholders, in consultation with financial and legal advisors and management. The Board also considered the substantial regulatory capital cushions which made significant near-term sales possible. Based on their analysis, the Board concluded that sale of assets in the near-term was in the best interests of Southwest's shareholders. The sales were completed in December 2011."

Result

"Although the result was a loss for 2011, we start 2012 with significantly improved credit quality and regulatory capital ratios that exceed "well capitalized" standards.

"We are looking forward to 2012. With our improved balance sheet, we will continue to focus on our commercial banking operations serving our primary markets in Oklahoma, Texas, and Kansas. We have renewed strength in our credit and lending areas and plan to stabilize loan revenue by generating new loans prudently and profitably."

"Southwest is driven to return to sustained profitability, to resume payment of dividends on trust preferred securities, preferred stock, and common stock, and to once again produce reliable and attractive returns for our shareholders."

Key items for the quarter were as follows:

Credit Quality (noncovered assets):

View data
-- During the fourth quarter, Southwest sold nonperforming loans, potential problem loans, other related loans and other real estate with an aggregate carrying value, before transfer to assets held for sale, of $301.6 million, of which $169.1 million were nonperforming assets. Southwest recognized $88.6 million in net charge-offs as a result of the sales transactions. The loan sales caused Southwest to increase the provision for loan losses in the quarter by $74.9 million. -- Nonperforming loans were $13.5 million or 0.80% of portfolio loans as of December 31, 2011, a decrease of $119.2 million (90%) from $132.7 million at September 30, 2011. Excluding the loan sale, nonperforming loans would have decreased by $7.4 million in the fourth quarter of 2011. The allowance for loan losses to nonperforming loans was 326.47% as of December 31, 2011 compared to 48.75% as of September 30, 2011. Nonperforming assets were $33.4 million or 1.96% of portfolio loans and other real estate as of December 31, 2011, a decrease of $170.1 million (84%) from $203.5 million or 9.86% of portfolio loans and other real estate as of September 30, 2011. -- Potential problem loans were $133.0 million as of December 31, 2011, a decrease of $143.7 million (52%) from $276.7 million as of September 30, 2011. Excluding the loan sale, potential problem loans would have decreased by $13.2 million in the fourth quarter of 2011. -- The allowance for loan losses to portfolio loans was 2.62% as of December 31, 2011 compared to 3.25% as of September 30, 2011. The decrease was primarily due to the loan sale and the related reduction in nonperforming and potential problem loans discussed above. -- The provision for loan losses was $77.8 million for the fourth quarter of 2011, while net charge-offs were $98.3 million. For the third quarter of 2011, the provision for loan losses and net charge-offs were $24.6 million and $14.5 million, respectively. Excluding the loan sale impact, the provision for loan losses and net charge-offs for the fourth quarter of 2011 would have been approximately $6.2 million and $9.7 million, respectively.

Capital Position and Liquidity:

View data
-- As of December 31, 2011, Southwest and each of its banking subsidiaries met the criteria for regulatory classification as "well-capitalized". Southwest's total regulatory capital was $398.9 million, for a total risk-based capital ratio of 20.78%, and Tier 1 capital was $374.6 million, for a Tier 1 risk-based capital ratio of 19.51%. Southwest's capital exceeded the minimum to be classified as "well-capitalized" by $206.9 million. Stillwater National Bank, Southwest's principal banking subsidiary, had total regulatory capital of $323.4 million, for a total risk-based capital ratio of 18.83%, and Tier 1 capital of $286.7 million, for a Tier 1 risk-based capital ratio of 16.69%. Stillwater National Bank exceeded the minimum to be classified as "well-capitalized" by $108.8 million. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators. Stillwater National Bank's leverage and total risk-based capital ratios also exceeded the individual minimum ratios agreed to with the Comptroller of the Currency of 8.50% and 12.50%. -- In July 2011, Southwest determined to defer future payments of interest on its debentures and dividends on related trust preferred securities and to defer payments of dividends on its Series B Preferred Securities issued under the U.S. Treasury Department's Capital Purchase Program. The terms of the debentures and trust preferred securities allow Southwest to increase or decrease the deferral period without default or penalty. -- As of December 31, 2011, the holding company has $29.0 million in available cash.

Financial Overview



Condition: Total assets were $2.4 billion and total loans were $1.8 billion at December 31, 2011, a decrease of 16% and 27%, respectively, from December 31, 2010.

At December 31, 2011 the allowance for loan losses was $44.7 million, a decrease of 32% from December 31, 2010.

Total core funding, which includes all non-brokered time deposits and sweep repurchase agreements, comprised 94% of total funding, compared to 86% at December 31, 2010. Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 6% of total funding at December 31, 2011, compared to 14% at December 31, 2010. Please see Table 7 for details on these non-GAAP financial measures.

Year-to-date Results:

Summary: The net loss available to common shareholders was ($72.5) million as of December 31, 2011, compared to net income available to common shareholders of $12.8 million as of December 31, 2010. The $85.3 million decrease in our net income available to common shareholders from 2010 is the result of a $96.5 million increase in the provision for loan losses, a $26.6 million increase in noninterest expense, an $11.0 million decrease in net interest income, and a $4.5 million decrease in noninterest income, offset in part by a $53.4 million decrease in income tax expense.

On June 28, 2011, Southwest entered into a settlement agreement with the Oklahoma State Tax Commission (the "Commission") with respect to certain claims by the Commission. Southwest had previously recorded reserves against these claims. As a result of the settlement agreement, Southwest paid the sum of $4.8 million to the Commission and recorded a gain of $2.6 million, net of tax effect, upon reversal of excess reserves.

The year-to-date calculated effective tax rate is 39.00% and results in a tax benefit.

Net Interest Income: Net interest income totaled $96.3 million for 2011, compared to $107.3 million for 2010, a decrease of $11.0 million, or 10%. Year-to-date net interest margin was 3.74%, compared to 3.67% for 2010. Included in 2011 year-to-date net interest income was a net reduction of $1.6 million resulting from interest reversals on nonaccrual loans, which includes reversals relating to the nonaccrual loans sold in the fourth quarter, offset by the year-to-date adjustments of the discount accretion on loans and the loss share receivable. Included in 2010 year-to-date net interest income was $1.0 million of net recoveries from the resolution of nonperforming loans and additional discount accretion on loans and loss share receivable, offset in part by interest reversals on nonaccrual loans. The net effects of these adjustments on net interest margin were a 6 basis point decrease and a 3 basis point increase, respectively.

Provision for Loan Losses and Net Charge Offs: The provision for loan losses totaled $132.1 million for 2011, compared to $35.6 million for 2010. Net charge-offs totaled $152.6 million, or 7.01% (annualized) of average portfolio loans year-to-date as of December 31, 2011, compared to $32.7 million, or 1.29% (annualized) of average portfolio loans as of December 31, 2010. Excluding the fourth quarter loan sales impact, the provision for loan losses and net charge-offs would have been approximately $60.0 million and $64.1 million, respectively.

Noninterest Income: Noninterest income totaled $14.0 million for 2011, compared to $18.6 million for 2010. The decrease in noninterest income was primarily the result of a $2.7 million decline in gain on investment securities, a $1.1 million decline in gain on sale of loans, mainly from declined student loan sales, a $0.5 million decline in other noninterest income, and a $0.3 million decline in service charges and fees.

Noninterest Expense: Noninterest expense totaled $90.2 million for 2011, compared to $63.6 million for 2010. The increase consists of a $28.6 million increase in other real estate expense, which includes the fair value adjustment for the assets sold in the fourth quarter, and a $0.3 million increase in general and administrative expense, offset in part by a $1.9 million decrease in FDIC and other insurance expense and a $0.4 million decrease in occupancy expense.

Fourth Quarter Results:

Summary: For the fourth quarter of 2011, Southwest incurred a net loss available to common shareholders of ($59.3) million, compared to net income available to common shareholders of $3.3 million in the fourth quarter of 2010 and a net loss available to common shareholders of ($10.6) million in the third quarter of 2011. The decrease from the fourth quarter of 2010 was the result of a $71.0 million increase in the provision for loan losses, a $25.1 million increase in noninterest expense, a $5.1 million decrease in net interest income, and a $0.5 million decrease in noninterest income, offset in part by a $39.1 million decrease in income taxes. The decrease from the third quarter of 2011 was the result of a $53.7 million increase in the provision for loan losses, a $24.2 million increase in noninterest expense, and a $2.1 million decrease in net interest income, offset in part by a $31.3 million decrease in income taxes.

For the fourth quarter of 2011, the calculated effective tax rate is 38.49% and results in a tax benefit.

Net Interest Income: Net interest income totaled $21.9 million for the fourth quarter of 2011, compared to $27.0 million for the fourth quarter of 2010, a decrease of $5.1 million, or 19%, and $24.0 million for the third quarter of 2011, a decrease of $2.1 million, or 9%. Net interest margin was 3.62% for the fourth quarter of 2011, compared to 3.82% for the fourth quarter of 2010 and 3.77% for the third quarter of 2011. Included in the fourth quarter of 2011 net interest margin was a net reduction of $1.2 million, resulting from interest reversals on nonaccrual loans, primarily from the fourth quarter loan sale, offset by the quarterly adjustments of the discount accretion on loans and the loss share receivable. Included in the fourth quarter of 2010 was a net recovery of $0.5 million from the resolution of nonperforming loans and the quarterly adjustment of the discount accretion on loans and the loss share receivable. Included in the third quarter of 2011 was a net reduction of $0.3 million resulting from interest reversals on nonaccrual loans offset by the quarterly adjustments of the discount accretion on loans and the loss share receivable. The net effects of these adjustments on the net interest margins were a 19 basis point decrease, a 7 basis point increase, and a 5 basis point decrease for each quarter, respectively.

Provision for Loan Losses and Net Charge-Offs: The provision for loan losses totaled $78.3 million for the fourth quarter of 2011, compared to $7.3 million for the fourth quarter of 2010 and $24.6 million for the third quarter of 2011. Net charge-offs totaled $98.3 million, or 19.78% (annualized) of average portfolio loans for the fourth quarter of 2011, compared to $14.5 million, or 2.35% (annualized) of average portfolio loans for the fourth quarter of 2010 and $14.5 million, or 2.70% (annualized) of average portfolio loans for the third quarter of 2011. Excluding the fourth quarter loan sales impact, the provision for loan losses and net charge-offs would have been approximately $6.2 million and $9.7 million, respectively.

Noninterest Income: Noninterest income totaled $3.6 million for the fourth quarter of 2011, compared to $4.1 million for the fourth quarter of 2010 and $3.6 million for the third quarter of 2011. The decrease in noninterest income from the fourth quarter of 2010 was primarily the result of a $0.3 million decrease in service charges and fees.

Noninterest Expense: Noninterest expense totaled $41.9 million for the fourth quarter of 2011, compared to $16.8 million for the fourth quarter of 2010 and $17.7 million for the third quarter of 2011. The increase from fourth quarter 2010 consisted of a $25.1 million increase in other real estate expense, which includes the loss on assets sold during the quarter of $23.6 million, and a $0.4 million increase in general and administrative expense, offset in part by a $0.5 million decrease in FDIC and other insurance expense. The increase from third quarter 2011 consisted of a $24.9 million increase in other real estate expense, offset in part by a $0.6 million decrease in general and administrative expense.

Southwest Bancorp and Subsidiaries



Southwest is the bank holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At December 31, 2011 we had total assets of $2.4 billion, deposits of $1.9 billion, and shareholders' equity of $307.2 million.

Our area of expertise focuses on the special financial needs of healthcare and health professionals, businesses and their managers and owners, and commercial and commercial real estate borrowers. We established a strategic focus on healthcare lending in 1974. We provide credit and other services, such as deposits, cash management, and document imaging for physicians and other healthcare practitioners to start or develop their practices and finance the development and purchase of medical offices, clinics, surgical care centers, hospitals, and similar facilities. As of December 31, 2011, approximately $614.7 million, or 36%, of our noncovered loans were loans to individuals and businesses in the healthcare industry. We conduct regular market reviews of our current and potential healthcare lending and the appropriate concentrations within healthcare based upon economic and regulatory conditions.

We also focus on commercial real estate mortgage and construction credits. We do not focus on one-to-four family residential development loans or "spec" residential property credits. Additionally, subprime residential lending has never been a part of our business strategy, and our exposure to subprime mortgage loans and subprime lenders is minimal. One-to-four family mortgages account for less than 5% of total noncovered loans. As of December 31, 2011 approximately $1.3 billion, or 73%, of our noncovered loans were commercial real estate mortgage and construction loans, including $381.1 million of loans to individuals and businesses in the healthcare industry.

Southwest's common stock is traded on the NASDAQ Global Select Market under the symbol OKSB. Southwest's public trust preferred securities are traded on the NASDAQ Global Select Market under the symbol OKSBP.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

Caution About Forward-Looking Statements



We make forward-looking statements in this news release that are subject to risks and uncertainties. We intend these statements to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include:

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-- Statements of Southwest's goals, intentions, and expectations; -- Estimates of risks and of future costs and benefits; -- Expectations regarding our future financial performance and the financial performance of our operating segments; -- Expectations regarding our ability to utilize tax loss benefits; -- Assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs; -- Estimates of the value of assets held for sale or available for sale; and -- Statements of our ability to achieve financial and other goals.

These forward-looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters. These other matters include, among other things, the direct and indirect effects of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest's past growth and performance do not necessarily indicate our future results. For other factors, risks, and uncertainties that could cause actual results to differ materially from estimates and projections contained in forward-looking statements, please read the "Risk Factors" contained in Southwest's reports to the Securities and Exchange Commission.

The cautionary statements in this release also identify important factors and possible events that involve risk and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements speak only as of the date on which the statements were made. We do not intend, and undertake no obligation, to update or revise any forward-looking statements contained in this release, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting such statements, except as required by law.

Southwest is required under generally accepted accounting principles to evaluate subsequent events and their impact, if any, on its financial statements as of December 31, 2011 through the date its financial statements are filed with the Securities and Exchange Commission. The December 31, 2011 financial statements included in this release will be adjusted if necessary to properly reflect the impact of subsequent events on estimates used to prepare those statements.

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Financial Tables Unaudited Financial Highlights Table 1 Unaudited Consolidated Statements of Financial Condition Table 2 Unaudited Consolidated Statements of Operations Table 3 Unaudited Average Balances, Yields, and Rates-Quarterly Table 4 Unaudited Average Balances, Yields, and Rates-Year-to-Date Table 5 Unaudited Quarterly Summary Loan Data Table 6 Unaudited Quarterly Summary Financial Data Table 7 Unaudited Quarterly Supplemental Analytical Data Table 8

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SOUTHWEST BANCORP, INC. Table 1 UNAUDITED FINANCIAL HIGHLIGHTS (Dollars in thousands, except per share) Fourth Quarter Third Quarter -------------------------------- -------------------------------- --------------------- QUARTERLY HIGHLIGHTS % % 2011 2010 Change 2011 Change ---------- ---------- -------- ---------- --------- Operations Net interest income $ 21,901 $ 26,970 (19)% $ 24,025 (9)% Provision for loan losses 78,285 7,265 978 24,626 218 Noninterest income 3,576 4,089 (13) 3,589 -- Noninterest expense 41,903 16,811 149 17,693 137 Income (loss) before taxes (94,711) 6,983 (1,456) (14,705) 544 Taxes on income (36,450) 2,675 (1,463) (5,180) 604 Net income (loss) (58,261) 4,308 (1,452) (9,525) 512 Net income (loss) available to common shareholders (59,340) 3,257 (1,922) (10,589) 460 Diluted earnings per share (3.05) 0.17 (1,894) (0.54) 465 Balance Sheet Total assets 2,382,873 2,820,541 (16) 2,572,492 (7) Loans held for sale 38,695 35,194 10 39,902 (3) Noncovered portfolio loans 1,687,178 2,331,293 (28) 1,933,694 (13) Covered portfolio loans 37,615 53,628 (30) 41,209 (9) Total deposits 1,921,382 2,252,728 (15) 2,022,253 (5) Total shareholders' equity 307,186 377,812 (19) 367,024 (16) Book value per common share 12.28 15.97 (23) 15.37 (20) Key Ratios Net interest margin 3.62% 3.82% 3.77% Efficiency ratio 164.47 54.13 64.07 Total capital to risk-weighted assets 20.78 19.06 20.81 Nonperforming loans to portfolio loans - noncovered 0.80 4.59 6.66 Shareholders' equity to total assets 12.89 13.40 14.27 Tangible common equity to tangible assets* 9.76 10.78 11.38 Return on average assets (annualized) (8.96) 0.59 (1.43) Return on average common equity (annualized) (79.48) 4.11 (13.42) Return on average tangible common equity (annualized)** (81.35) 4.21 (13.72) ----------------------------------------------------------------------------------------- YEAR-TO-DATE HIGHLIGHTS Twelve Months -------------------------------- % 2011 2010 Change ---------- ---------- -------- Operations Net interest income $ 96,332 $ 107,331 (10)% Provision for loan losses 132,101 35,560 271 Noninterest income 14,018 18,564 (24) Noninterest expense 90,201 63,633 42 Income (loss) before taxes (111,952) 26,702 (519) Taxes on income (43,657) 9,738 (548) Net income (loss) (68,295) 16,964 (503) Net income (loss) available to common shareholders (72,548) 12,777 (668) Diluted earnings per share (3.73) 0.71 (625) Balance Sheet Total assets 2,382,873 2,820,541 (16) Loans held for sale 38,695 35,194 10 Noncovered portfolio loans 1,687,178 2,331,293 (28) Covered portfolio loans 37,615 53,628 (30) Total deposits 1,921,382 2,252,728 (15) Total shareholders' equity 307,186 377,812 (19) Book value per common share 12.28 15.97 (23) Key Ratios Net interest margin 3.74 % 3.67 % Efficiency ratio (GAAP-based) 81.74 50.54 Total capital to risk-weighted assets 20.78 19.06 Nonperforming loans to portfolio loans - noncovered 0.80 4.59 Shareholders' equity to total assets 12.89 13.40 Tangible common equity to tangible assets* 9.76 10.78 Return on average assets (2.53) 0.57 Return on average common equity (23.40) 4.37 Return on average tangible common equity** (23.93) 4.48 ----------------------------------------------------------------------------------------- Balance sheet amounts and ratios are as of period end unless otherwise noted. * This is a Non-GAAP financial measure. Please see Table 8 for a reconciliation to the most directly comparable GAAP based measure. ** This is a Non-GAAP financial measure. Please see accompanying tables for additional financial information.

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SOUTHWEST BANCORP, INC. Table 2 UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Dollars in thousands, except per share) December December 31, 31, 2011 2010 ----------- ----------- Assets Cash and due from banks $ 30,247 $ 26,478 Interest-bearing deposits 199,642 41,018 ----------- ----------- Cash and cash equivalents 229,889 67,496 Securities held to maturity (fair values of $15,885, $14,029, respectively) 15,252 14,304 Securities available for sale (amortized cost of $253,869, $246,649, respectively) 260,100 248,221 Loans held for sale 38,695 35,194 Noncovered loans receivable 1,687,178 2,331,293 Less: Allowance for loan losses (44,233) (65,229) ----------- ----------- Net noncovered loans receivable 1,642,945 2,266,064 Covered loans receivable (includes loss share of $10,073, $14,370, respectively) 37,615 53,628 Less: Allowance for loan losses (451) -- ----------- ----------- Net covered loans receivable 37,164 53,628 Net loans receivable 1,680,109 2,319,692 Accrued interest receivable 7,176 8,590 Income tax receivable 28,666 -- Premises and equipment, net 22,700 23,772 Noncovered other real estate 19,844 37,722 Covered other real estate 4,529 4,187 Goodwill 6,811 6,811 Other intangible assets, net 4,857 5,371 Other assets 64,245 49,181 ----------- ----------- Total assets $ 2,382,873 $ 2,820,541 =========== =========== Liabilities Deposits: Noninterest-bearing demand $ 400,985 $ 377,182 Interest-bearing demand 105,905 92,584 Money market accounts 423,181 495,253 Savings accounts 33,406 26,665 Time deposits of $100,000 or more 487,907 694,565 Other time deposits 469,998 566,479 ----------- ----------- Total deposits 1,921,382 2,252,728 Accrued interest payable 3,689 1,577 Income tax payable -- 2,878 Other liabilities 12,174 8,981 Other borrowings 56,479 94,602 Subordinated debentures 81,963 81,963 ----------- ----------- Total liabilities 2,075,687 2,442,729 Shareholders' equity Serial preferred stock; 2,000,000 shares authorized; 70,000 shares issued and outstanding 68,455 67,724 Common stock -- $1 par value; 40,000,000 shares authorized; 19,444,213, 19,421,900, shares issued and outstanding, respectively 19,444 19,422 Additional paid-in capital 98,932 98,894 Retained earnings 118,244 190,793 Accumulated other comprehensive income 2,111 979 ----------- ----------- Total shareholders' equity 307,186 377,812 ----------- ----------- Total liabilities and shareholders' equity $ 2,382,873 $ 2,820,541 =========== ===========

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SOUTHWEST BANCORP, INC. Table 3 UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share) For the three months For the twelve months ended December 31, ended December 31, -------------------- --------------------- 2011 2010 2011 2010 ---------- -------- ---------- --------- Interest income Loans $ 25,333 $ 32,831 $ 113,223 $ 133,918 Investment securities 1,584 1,724 6,973 8,148 Other interest-earning assets 148 131 549 741 ---------- -------- ---------- --------- Total interest income 27,065 34,686 120,745 142,807 Interest expense Interest-bearing deposits 3,318 5,920 16,793 28,267 Other borrowings 339 514 1,799 2,079 Subordinated debentures 1,507 1,282 5,821 5,130 ---------- -------- ---------- --------- Total interest expense 5,164 7,716 24,413 35,476 ---------- -------- ---------- --------- Net interest income 21,901 26,970 96,332 107,331 Provision for loan losses 78,285 7,265 132,101 35,560 ---------- -------- ---------- --------- Net interest income (loss) after provision for loan losses (56,384) 19,705 (35,769) 71,771 Noninterest income Service charges and fees 2,849 3,144 12,075 12,404 Gain on sales of loans 637 682 1,658 2,736 Gain on investment securities -- 15 -- 2,661 Other noninterest income 90 248 285 763 ---------- -------- ---------- --------- Total noninterest income 3,576 4,089 14,018 18,564 Noninterest expense Salaries and employee benefits 7,657 7,516 29,880 29,916 Occupancy 2,614 2,717 10,815 11,171 FDIC and other insurance 858 1,333 3,862 5,788 Other real estate, net 26,369 1,255 30,852 2,218 General and administrative 4,405 3,990 14,792 14,540 ---------- -------- ---------- --------- Total noninterest expense 41,903 16,811 90,201 63,633 ---------- -------- ---------- --------- Income (loss) before taxes (94,711) 6,983 (111,952) 26,702 Taxes on income (36,450) 2,675 (43,657) 9,738 ---------- -------- ---------- --------- Net income (loss) $ (58,261) $ 4,308 $ (68,295) $ 16,964 ========== ======== ========== ========= Net income (loss) available to common shareholders $ (59,340) $ 3,257 $ (72,548) $ 12,777 ========== ======== ========== ========= Basic earnings per common share $ (3.05) $ 0.17 $ (3.73) $ 0.71 Diluted earnings per common share (3.05) 0.17 (3.73) 0.71 Common dividends declared per share -- -- -- --

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SOUTHWEST BANCORP, INC. Table 4 UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - QUARTERLY (Dollars in thousands) For the three months ended December 31, -------------------------------------------------------------------- 2011 2010 --------------------------------- --------------------------------- Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate ----------- -------- ---------- ----------- -------- ---------- Assets Noncovered loans $ 1,973,320 $ 24,473 4.92% $ 2,417,584 $ 31,933 5.24% Covered loans 39,010 860 8.75 58,755 898 6.06 Investment securities 264,011 1,584 2.38 253,664 1,724 2.70 Other interest-earning assets 123,532 148 71,638 131 ----------- -------- 0.48 ----------- -------- 0.73 Total interest-earning assets 2,399,873 27,065 4.47 2,801,641 34,686 4.91 Other assets 178,904 81,735 ----------- ----------- Total assets $ 2,578,777 $ 2,883,376 =========== =========== Liabilities and Shareholders' Equity Interest-bearing demand deposits $ 98,167 $ 53 0.21% $ 85,967 $ 85 0.39% Money market accounts 471,059 388 0.33 508,110 885 0.69 Savings accounts 32,032 12 0.15 25,885 17 0.26 Time deposits 994,519 2,865 1,316,536 4,933 ----------- -------- 1.14 ----------- -------- 1.49 Total interest-bearing deposits 1,595,777 3,318 0.82 1,936,498 5,920 1.21 Other borrowings 70,952 339 1.90 96,267 514 2.12 Subordinated debentures 81,963 1,507 81,963 1,282 ----------- -------- 7.35 ----------- -------- 6.26 Total interest-bearing liabilities 1,748,692 5,164 1.17 7,716 1.45 -------- ---------- 2,114,728 -------- ---------- Noninterest-bearing demand deposits 400,435 367,761 Other liabilities 65,093 19,252 Shareholders' equity 364,557 381,635 ----------- ----------- Total liabilities and shareholders' equity $ 2,578,777 $ 2,883,376 =========== =========== Net interest income and spread $ 21,901 3.30% $ 26,970 3.46% ======== ========== ======== ========== Net interest margin (1) 3.62% 3.82% ========== ========== Average interest-earning assets to average interest-bearing liabilities 137.24% 132.48% =========== =========== (1) Net interest margin = annualized net interest income / average interest-earning assets

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SOUTHWEST BANCORP, INC. Table 5 UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - YEAR-TO-DATE (Dollars in thousands) For the twelve months ended December 31, ---------------------------------------------------------------------- 2011 2010 ---------------------------------- ---------------------------------- Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate ----------- --------- ---------- ----------- --------- ---------- Assets Noncovered loans $ 2,168,458 $ 109,839 5.07% $ 2,504,684 $ 129,314 5.16% Covered loans 45,449 3,384 7.45 68,758 4,604 6.70 Investment securities 264,006 6,973 2.64 245,411 8,148 3.32 Other interest-earning assets 96,753 549 103,792 741 ----------- --------- 0.57 ----------- --------- 0.71 Total interest-earning assets 2,574,666 120,745 4.69 2,922,645 142,807 4.89 Other assets 121,416 76,099 ----------- ----------- Total assets $ 2,696,082 $ 2,998,744 =========== =========== Liabilities and Shareholders' Equity Interest-bearing demand deposits $ 108,808 $ 382 0.35% $ 98,589 $ 468 0.47% Money market accounts 483,373 2,154 0.45 508,583 3,911 0.77 Savings accounts 29,862 49 0.16 25,609 64 0.25 Time deposits 1,117,483 14,208 1,479,287 23,824 ----------- --------- 1.27 ----------- --------- 1.61 Total interest-bearing deposits 1,739,526 16,793 0.97 2,112,068 28,267 1.34 Other borrowings 84,738 1,799 2.12 96,141 2,079 2.16 Subordinated debentures 81,963 5,821 81,963 5,130 ----------- --------- 7.10 ----------- --------- 6.26 Total interest-bearing liabilities 1,906,227 24,413 1.28 35,476 1.55 --------- ---------- 2,290,172 --------- ---------- Noninterest-bearing demand deposits 377,780 330,998 Other liabilities 33,991 18,039 Shareholders' equity 378,084 359,535 ----------- ----------- Total liabilities and shareholders' equity $ 2,696,082 $ 2,998,744 =========== =========== Net interest income and spread $ 96,332 3.41% $ 107,331 3.34% ========= ========== ========= ========== Net interest margin (1) 3.74% 3.67% ========== ========== Average interest-earning assets to average interest-bearing liabilities 135.07% 127.62% =========== =========== (1) Net interest margin = annualized net interest income / average interest-earning assets

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SOUTHWEST BANCORP, INC. Table 6 UNAUDITED QUARTERLY SUMMARY LOAN DATA (Dollars in thousands, except per share) ------------------------------------------------------------------------------------------------------ 2011 2010 -------------------------------------------------- -------------------------------------------------- Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- LOAN COMPOSITION Noncovered: -------------- Real estate mortgage: Commercial $ 1,028,561 $ 1,169,010 $ 1,262,753 $ 1,302,164 $ 1,310,464 $ 1,271,278 $ 1,251,709 $ 1,230,009 One-to-four family residential 80,375 85,272 87,407 87,286 89,800 109,980 106,814 111,185 Real estate construction Commercial 227,098 348,053 372,576 403,635 441,265 527,773 589,590 630,472 One-to-four family residential 4,987 25,527 26,400 26,758 27,429 30,527 35,129 34,996 Commercial 346,266 367,241 404,229 416,392 452,626 463,132 471,004 487,074 Installment and consumer: Guaranteed student loans 5,396 5,547 5,600 5,700 5,843 5,960 7,389 10,199 Other 33,190 32,946 34,335 36,493 39,060 39,014 39,328 38,048 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total noncovered loans, including held for sale 1,725,873 2,033,596 2,193,300 2,278,428 2,366,487 2,447,664 2,500,963 2,541,983 Less allowance for loan losses (44,233) (64,698) (54,575) (61,285) (65,229) (72,418) (67,055) (65,168) ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total noncovered loans, net $ 1,681,640 $ 1,968,898 $ 2,138,725 $ 2,217,143 $ 2,301,258 $ 2,375,246 $ 2,433,908 $ 2,476,815 =========== =========== =========== =========== =========== =========== =========== =========== Covered: -------------- Real estate mortgage: Commercial $ 23,686 $ 23,201 $ 26,976 $ 28,929 $ 30,997 $ 33,428 $ 36,107 $ 37,487 One-to-four family residential 7,072 7,378 8,113 8,192 9,122 10,071 10,277 10,843 Real estate construction Commercial 3,746 5,987 6,001 6,144 6,840 7,464 8,190 11,173 One-to-four family residential -- -- 172 281 439 1,823 3,853 5,273 Commercial 2,841 4,286 4,461 5,021 5,554 6,816 8,487 10,807 Installment and consumer: 270 357 430 550 676 956 1,092 1,326 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total covered loans 37,615 41,209 46,153 49,117 53,628 60,558 68,006 76,909 Less allowance for loan losses (451) -- -- -- -- -- -- -- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total covered loans, net $ 37,164 $ 41,209 $ 46,153 $ 49,117 $ 53,628 $ 60,558 $ 68,006 $ 76,909 =========== =========== =========== =========== =========== =========== =========== =========== LOANS BY SEGMENT Oklahoma banking $ 688,592 $ 770,306 $ 834,189 $ 838,006 $ 871,393 $ 890,598 $ 914,004 $ 926,870 Texas banking 665,010 845,485 911,134 953,123 982,845 1,024,863 1,041,228 1,063,511 Kansas banking 238,468 252,302 260,431 272,685 289,642 309,240 329,157 342,596 Out of market 132,723 166,810 196,495 226,383 241,041 248,653 258,965 260,329 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Subtotal 1,724,793 2,034,903 2,202,249 2,290,197 2,384,921 2,473,354 2,543,354 2,593,306 Secondary market 38,695 39,902 37,204 37,348 35,194 34,868 25,615 25,586 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total loans $ 1,763,488 $ 2,074,805 $ 2,239,453 $ 2,327,545 $ 2,420,115 $ 2,508,222 $ 2,568,969 $ 2,618,892 =========== =========== =========== =========== =========== =========== =========== =========== NONPERFORMING LOANS BY TYPE Construction & development $ 3,877 $ 68,554 $ 73,487 $ 68,183 $ 67,571 $ 88,590 $ 75,079 $ 54,648 Commercial real estate 4,667 56,234 60,857 47,986 30,510 34,448 25,413 28,520 Commercial 3,374 6,080 15,224 16,633 6,977 6,180 2,614 4,100 One-to-four family residential 1,491 1,706 1,457 2,634 1,984 6,401 8,843 10,552 Consumer 140 152 153 27 41 42 255 42 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans - noncovered $ 13,549 $ 132,726 $ 151,178 $ 135,463 $ 107,083 $ 135,661 $ 112,204 $ 97,862 =========== =========== =========== =========== =========== =========== =========== =========== NONPERFORMING LOANS BY SEGMENT Oklahoma banking $ 3,699 $ 14,932 $ 18,870 $ 13,443 $ 9,726 $ 9,937 $ 6,041 $ 7,638 Texas banking 83 95,191 91,449 87,122 55,431 74,581 48,873 41,303 Kansas banking 9,070 7,976 9,725 7,924 6,923 14,126 18,593 15,603 Out of market 697 14,627 31,134 26,974 35,003 37,017 38,697 33,318 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans - noncovered $ 13,549 $ 132,726 $ 151,178 $ 135,463 $ 107,083 $ 135,661 $ 112,204 $ 97,862 =========== =========== =========== =========== =========== =========== =========== =========== OTHER REAL ESTATE BY TYPE Construction & development $ 3,542 $ 38,927 $ 12,588 $ 6,304 $ 5,579 $ 9,349 $ 1,625 $ 1,441 Commercial real estate 15,464 24,364 16,300 23,890 20,750 19,053 19,444 12,320 One-to-four family residential 838 7,494 10,068 10,873 11,393 7,321 6,565 5,048 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total other real estate - noncovered $ 19,844 $ 70,785 $ 38,956 $ 41,067 $ 37,722 $ 35,723 $ 27,634 $ 18,809 =========== =========== =========== =========== =========== =========== =========== =========== OTHER REAL ESTATE BY SEGMENT Oklahoma banking $ 6,178 $ 8,709 $ 2,613 $ 4,616 $ 4,814 $ 4,108 $ 3,547 $ 3,665 Texas banking 9,846 35,270 17,398 18,652 15,810 14,651 10,352 4,376 Kansas banking 3,210 12,390 14,539 12,848 13,182 12,218 8,989 9,198 Out of market 610 14,416 4,406 4,951 3,916 4,746 4,746 1,570 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total other real estate - noncovered $ 19,844 $ 70,785 $ 38,956 $ 41,067 $ 37,722 $ 35,723 $ 27,634 $ 18,809 =========== =========== =========== =========== =========== =========== =========== =========== POTENTIAL PROBLEM LOANS BY TYPE Construction & development $ 43,607 $ 75,867 $ 111,032 $ 111,204 $ 94,765 $ 111,401 $ 101,455 $ 132,546 Commercial real estate 55,873 162,692 140,079 85,833 101,629 97,694 107,538 111,989 Commercial 32,477 37,027 38,850 19,940 36,142 27,119 32,843 30,582 One-to-four family residential 1,082 1,108 1,210 429 589 608 354 764 Consumer -- -- -- -- 15 22 27 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem loans - noncovered $ 133,039 $ 276,694 $ 291,171 $ 217,406 $ 233,140 $ 236,844 $ 242,217 $ 275,912 =========== =========== =========== =========== =========== =========== =========== =========== POTENTIAL PROBLEM LOANS BY SEGMENT Oklahoma banking $ 27,481 $ 54,310 $ 42,565 $ 30,678 $ 36,170 $ 58,230 $ 47,686 $ 47,147 Texas banking 83,035 163,973 183,486 114,506 144,357 116,049 145,684 168,717 Kansas banking 836 14,530 11,289 19,472 20,232 19,737 1,754 5,175 Out of market 21,687 43,881 53,831 52,750 32,381 42,828 47,093 54,873 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem loans - noncovered $ 133,039 $ 276,694 $ 291,171 $ 217,406 $ 233,140 $ 236,844 $ 242,217 $ 275,912 =========== =========== =========== =========== =========== =========== =========== =========== Continued SOUTHWEST BANCORP, INC. Table 6 UNAUDITED QUARTERLY SUMMARY LOAN DATA Continued (Dollars in thousands, except per share) ------------------------------------------------------------------------------------------------------ 2011 2010 -------------------------------------------------- -------------------------------------------------- Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- OUT OF MARKET LOANS Net balance out of market loans: -------------- Iowa $ 26,494 $ 26,626 $ 26,695 $ 26,759 $ 26,836 $ 28,953 $ 25,035 $ 25,108 Arizona 26,372 35,978 49,977 57,657 65,615 68,887 65,770 66,428 New Mexico 15,215 21,019 21,092 28,226 28,710 29,188 29,514 29,732 Ohio 12,741 9,367 9,568 9,963 10,420 10,666 10,786 10,293 California 10,530 10,737 9,814 9,984 9,906 10,169 10,554 10,560 Tennessee 6,427 6,484 6,550 6,606 6,784 6,837 6,898 6,967 Florida 6,421 6,374 10,582 7,600 7,627 7,622 7,531 7,635 Louisiana 5,336 5,644 5,963 8,018 8,651 9,223 9,788 10,354 Arkansas 5,192 3,848 2,549 1,502 3,162 3,283 9,218 9,409 Colorado 5,162 23,234 24,187 28,422 28,619 30,160 31,509 32,793 Other (16 states included) 12,833 17,499 29,518 41,646 44,711 43,665 52,362 51,050 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total out of market loans $ 132,723 $ 166,810 $ 196,495 $ 226,383 $ 241,041 $ 248,653 $ 258,965 $ 260,329 =========== =========== =========== =========== =========== =========== =========== =========== Nonperforming out of market loans: -------------- Florida $ 299 $ 305 $ 1,479 $ 1,479 $ 1,479 $ 1,479 $ 1,486 $ 1,486 Arizona 267 8,441 16,745 10,316 17,061 19,145 19,576 11,834 Colorado 131 746 4,909 880 1,235 1,239 1,255 521 New Mexico -- 5,135 5,135 11,827 11,827 11,827 11,827 11,827 Tennessee -- -- -- -- 30 32 33 35 Alabama -- -- 157 172 192 192 195 195 Other -- -- 2,709 2,300 3,179 3,103 4,325 7,420 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming out of market loans $ 697 $ 14,627 $ 31,134 $ 26,974 $ 35,003 $ 37,017 $ 38,697 $ 33,318 =========== =========== =========== =========== =========== =========== =========== =========== Potential problem out of market loans: -------------- New Mexico $ 11,542 $ 11,589 $ 11,635 $ -- $ -- $ -- $ -- $ -- Arizona 9,463 10,287 14,865 25,242 14,986 15,608 10,648 18,428 California 578 593 9,423 9,575 -- 9,825 9,950 9,950 Florida 104 108 116 -- -- -- -- -- Iowa -- -- -- -- -- -- 9,100 9,100 Colorado -- 17,034 13,500 17,933 17,395 17,395 17,395 17,395 Alabama -- 4,270 4,292 -- -- -- -- -- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem out of market loans $ 21,687 $ 43,881 $ 53,831 $ 52,750 $ 32,381 $ 42,828 $ 47,093 $ 54,873 =========== =========== =========== =========== =========== =========== =========== =========== ALLOWANCE ACTIVITY, Noncovered Balance, beginning of period $ 64,698 $ 54,575 $ 61,285 $ 65,229 $ 72,418 $ 67,055 $ 65,168 $ 62,413 Charge offs 99,604 16,067 27,562 13,392 14,720 7,006 6,168 6,545 Recoveries 1,305 1,564 712 398 266 381 279 769 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Net charge offs 98,299 14,503 26,850 12,994 14,454 6,625 5,889 5,776 Provision for loan losses 77,834 24,626 20,140 9,050 7,265 11,988 7,776 8,531 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Balance, end of period $ 44,233 $ 64,698 $ 54,575 $ 61,285 $ 65,229 $ 72,418 $ 67,055 $ 65,168 =========== =========== =========== =========== =========== =========== =========== =========== NET CHARGE OFFS BY TYPE Construction & development $ 41,513 $ 7,177 $ 10,847 $ 1,012 $ 11,613 $ 1,641 $ 4,126 $ 2,920 Commercial real estate 50,070 5,702 7,593 7,290 1,351 1,582 515 919 Commercial 6,434 1,469 7,999 4,337 1,214 1,318 1,081 1,148 One-to-four family residential 1 55 165 58 149 1,589 119 558 Consumer 281 100 246 297 127 495 48 231 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total net charge offs by type $ 98,299 $ 14,503 $ 26,850 $ 12,994 $ 14,454 $ 6,625 $ 5,889 $ 5,776 =========== =========== =========== =========== =========== =========== =========== =========== NET CHARGE OFFS BY SEGMENT Oklahoma banking $ 13,210 $ 1,058 $ 1,442 $ 1,593 $ 1,616 $ 1,960 $ 371 $ 1,815 Texas banking 64,370 7,386 9,163 4,502 10,485 2,219 4,726 3,734 Kansas banking 8,872 361 1,791 372 64 823 482 1,077 Out of market 11,847 5,698 14,454 6,527 2,289 1,623 310 (850) ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total net charge offs by segment $ 98,299 $ 14,503 $ 26,850 $ 12,994 $ 14,454 $ 6,625 $ 5,889 $ 5,776 =========== =========== =========== =========== =========== =========== =========== ===========

View data
SOUTHWEST BANCORP, INC. Table 7 UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA (Dollars in thousands, except per share) ------------------------------------------------------------------------------------------------------ 2011 2010 -------------------------------------------------- -------------------------------------------------- Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- NET INCOME (LOSS) BY SEGMENT Oklahoma banking $ (5,586) $ 7 $ 5,290 $ 3,435 $ 4,205 $ 3,399 $ 4,387 $ 2,857 Texas banking (35,435) (6,455) 1,575 1,079 4,001 (1,801) 757 1,685 Kansas banking (7,533) (612) 971 131 293 (306) 940 (322) Out of market (7,857) (1,947) (9,039) (924) (3,674) 494 (477) 1,750 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Subtotal (56,411) (9,007) (1,203) 3,721 4,825 1,786 5,607 5,970 Secondary market 144 90 127 (13) 444 173 83 310 Other operations (1,994) (608) (1,894) (1,247) (961) 1,914 (1,279) (1,908) ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Net income (loss) $ (58,261) $ (9,525) $ (2,970) $ 2,461 $ 4,308 $ 3,873 $ 4,411 $ 4,372 =========== =========== =========== =========== =========== =========== =========== =========== PER SHARE DATA Basic earnings per common share $ (3.05) $ (0.54) $ (0.21) $ 0.07 $ 0.17 $ 0.15 $ 0.19 $ 0.23 Diluted earnings per common share (3.05) (0.54) (0.21) 0.07 0.17 0.15 0.19 0.23 Book value per common share 12.28 15.37 15.89 16.02 15.97 15.93 15.88 16.79 Tangible book value per share* 11.93 15.02 15.54 15.67 15.62 15.58 15.53 16.33 COMMON STOCK Shares issued and outstanding 19,444,213 19,441,577 19,439,167 19,438,290 19,421,900 19,395,675 19,388,797 14,779,711 OTHER FINANCIAL DATA Investment securities $ 275,352 $ 269,599 $ 268,153 $ 258,436 $ 262,525 $ 240,844 $ 247,108 $ 241,693 Loans held for sale 38,695 39,902 37,204 37,348 35,194 34,868 25,615 25,586 Noncovered portfolio loans 1,687,178 1,993,694 2,156,096 2,241,080 2,331,293 2,412,796 2,475,348 2,516,397 Total noncovered loans 1,725,873 2,033,596 2,193,300 2,278,428 2,366,487 2,447,664 2,500,963 2,541,983 Covered portfolio loans 37,615 41,209 46,153 49,117 53,628 60,558 68,006 76,909 Total assets 2,382,873 2,572,492 2,660,495 2,779,028 2,820,541 2,905,275 3,010,835 3,074,923 Total deposits 1,921,382 2,022,253 2,094,236 2,218,571 2,252,728 2,345,648 2,444,939 2,554,165 Other borrowings 56,479 86,583 96,682 85,332 94,602 82,506 93,036 103,620 Subordinated debentures 81,963 81,963 81,963 81,963 81,963 81,963 81,963 81,963 Total shareholders' equity 307,186 367,024 376,930 379,350 377,812 376,576 375,319 315,341 Mortgage servicing portfolio 295,492 285,886 283,083 281,271 278,146 261,266 249,632 241,224 INTANGIBLE ASSET DATA Goodwill $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 Core deposit intangible 3,030 3,155 3,285 3,420 3,557 3,693 3,830 3,967 Mortgage servicing rights 1,825 1,808 1,781 1,718 1,810 1,661 1,589 1,603 Nonmortgage servicing rights 2 3 3 3 4 4 5 5 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total intangible assets $ 11,668 $ 11,777 $ 11,880 $ 11,952 $ 12,182 $ 12,169 $ 12,235 $ 12,386 =========== =========== =========== =========== =========== =========== =========== =========== Intangible amortization expense $ 252 $ 226 $ 222 $ 361 $ 402 $ 392 $ 350 $ 359 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- DEPOSIT COMPOSITION Non-interest bearing demand $ 400,985 $ 388,365 $ 389,027 $ 369,013 $ 377,182 $ 329,655 $ 326,721 $ 317,896 Interest-beari ng demand 105,905 98,270 124,346 112,731 92,584 86,153 102,218 119,757 Money market accounts 423,181 461,546 465,269 486,770 495,253 518,422 510,549 506,659 Savings accounts 33,406 31,319 29,586 28,440 26,665 25,556 25,321 25,871 Time deposits of $100,000 or more 487,907 551,914 570,116 669,817 694,565 795,303 861,110 944,871 Other time deposits 469,998 490,839 515,892 551,800 566,479 590,559 619,020 639,111 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total deposits** $ 1,921,382 $ 2,022,253 $ 2,094,236 $ 2,218,571 $ 2,252,728 $ 2,345,648 $ 2,444,939 $ 2,554,165 =========== =========== =========== =========== =========== =========== =========== =========== OFFICES AND EMPLOYEES FTE Employees 435 437 437 424 432 440 447 455 Branches 23 23 23 23 23 23 23 24 Loan production offices 2 2 2 2 2 2 2 2 Assets per employee $ 5,478 $ 5,887 $ 6,088 $ 6,554 $ 6,529 $ 6,603 $ 6,736 $ 6,758 -------------- *This is a Non-GAAP based financial measure. **Calculation of Non-brokered Deposits and Core Funding (Non-GAAP Financial Measures) Total deposits $ 1,921,382 $ 2,022,253 $ 2,094,236 $ 2,218,571 $ 2,252,728 $ 2,345,648 $ 2,444,939 $ 2,554,165 Less: Brokered time deposits 14,974 46,838 52,407 122,124 145,240 226,238 279,027 359,571 Other brokered deposits 78,236 105,483 105,392 112,033 117,532 129,096 126,643 124,969 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Non-brokered deposits $ 1,828,172 $ 1,869,932 $ 1,936,437 $ 1,984,414 $ 1,989,956 $ 1,990,314 $ 2,039,269 $ 2,069,625 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Plus: Sweep repurchase agreements 31,482 40,305 30,636 27,214 26,492 22,211 22,700 33,192 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Core funding $ 1,859,654 $ 1,910,237 $ 1,967,073 $ 2,011,628 $ 2,016,448 $ 2,012,525 $ 2,061,969 $ 2,102,817 =========== =========== =========== =========== =========== =========== =========== =========== Balance sheet amounts are as of period end unless otherwise noted. SOUTHWEST BANCORP, INC. Table 8 UNAUDITED QUARTERLY SUPPLEMENTAL ANALYTICAL DATA (Dollars in thousands, except per share) ------------------------------------------------------------------------------------------------------ 2011 2010 -------------------------------------------------- -------------------------------------------------- Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- PERFORMANCE RATIOS Return on average assets (annualized) (8.96)% (1.43)% (0.43)% 0.35% 0.59% 0.52% 0.58% 0.57% Return on average common equity (annualized) (79.48) (13.42) (5.11) 1.81 4.11 3.57 4.64 5.42 Return on average tangible common equity (annualized)* (81.35) (13.72) (5.22) 1.85 4.21 3.65 4.75 5.58 Net interest margin (annualized) 3.62 3.77 3.79 3.78 3.82 3.63 3.65 3.59 Total dividends declared to net income (0.92) (9.24) (29.46) 35.56 20.31 22.59 19.84 20.02 Effective tax rate 38.49 35.23 54.53 38.40 38.31 28.02 38.29 39.19 Efficiency ratio 164.47 64.07 52.40 54.50 54.13 47.02 51.97 49.25 NONPERFORMING ASSETS Noncovered: -------------- Nonaccrual loans $ 13,506 $ 132,268 $ 151,135 $ 134,934 $ 106,566 $ 135,209 $ 111,871 $ 97,858 90 days past due and accruing 43 458 43 529 517 452 333 4 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperformin g loans 13,549 132,726 151,178 135,463 107,083 135,661 112,204 97,862 Other real estate 19,844 70,785 38,956 41,067 37,722 35,723 27,634 18,809 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperformin g assets $ 33,393 $ 203,511 $ 190,134 $ 176,530 $ 144,805 $ 171,384 $ 139,838 $ 116,671 =========== =========== =========== =========== =========== =========== =========== =========== Performing restructured $ 1,017 $ 1,026 $ 3,191 $ 2,166 $ 2,177 $ 5,334 $ 5,525 $ 5,650 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Potential problem loans $ 133,039 $ 276,694 $ 291,171 $ 217,406 $ 233,140 $ 236,844 $ 242,217 $ 275,912 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Covered: -------------- Nonaccrual loans $ 7,128 $ 7,065 $ 9,800 $ 9,809 $ 10,806 $ 7,906 $ 14,504 $ 16,192 90 days past due and accruing -- 610 -- -- -- 1,871 130 356 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperformin g loans 7,128 7,675 9,800 9,809 10,806 9,777 14,634 16,548 Other real estate 4,529 5,350 3,806 4,016 4,187 4,448 4,352 4,489 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperformin g assets $ 11,657 $ 13,025 $ 13,606 $ 13,825 $ 14,993 $ 14,225 $ 18,986 $ 21,037 =========== =========== =========== =========== =========== =========== =========== =========== Potential problem loans $ 912 $ 2,015 $ 2,731 $ 3,444 $ 3,495 $ 6,413 $ 6,184 $ 6,620 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- ASSET QUALITY RATIOS Net loan charge-offs to average portfolio loans (annualized) 19.78% 2.70% 4.76% 2.25% 2.35% 1.05% 0.92% 0.90% Noncovered: -------------- Nonperforming assets to portfolio loans and other real estate 1.96% 9.86% 8.66% 7.74% 6.11% 7.00% 5.59% 4.60% Nonperforming loans to portfolio loans 0.80 6.66 7.01 6.04 4.59 5.62 4.53 3.89 Allowance for loan losses to portfolio loans 2.62 3.25 2.53 2.73 2.80 3.00 2.71 2.59 Allowance for loan losses to nonperforming loans 326.47 48.75 36.10 45.24 60.91 53.38 59.76 66.59 Covered: -------------- Nonperforming assets to portfolio loans and other real estate 27.66% 27.98% 27.23% 26.02% 25.93% 21.88% 26.24% 25.84% Nonperforming loans to portfolio loans 18.95 18.62 21.23 19.97 20.15 16.14 21.52 21.52 Allowance for loan losses to portfolio loans 1.64 -- -- -- -- -- -- -- Allowance for loan losses to nonperforming loans 6.33 -- -- -- -- -- -- -- CAPITAL RATIOS Average total shareholders' equity to average assets 14.14% 14.39% 13.98% 13.57% 13.24% 12.85% 11.78% 10.18% Leverage ratio 14.62 16.47 16.25 15.95 15.55 14.96 14.48 12.32 Tier 1 capital to risk-weighted assets 19.51 19.54 18.93 18.49 17.78 17.17 16.50 14.00 Total capital to risk-weighted assets 20.78 20.81 20.20 19.77 19.06 18.45 17.78 15.28 Tangible common equity to tangible assets*** 9.76 11.38 11.38 10.99 10.78 10.43 10.02 7.87 REGULATORY CAPITAL DATA Tier I capital $ 374,552 $ 433,628 $ 444,106 $ 447,803 $ 445,966 $ 442,188 $ 438,973 $ 381,280 Total capital 398,945 461,929 473,950 478,713 477,930 475,040 472,971 415,955 Total risk adjusted assets 1,920,075 2,219,271 2,346,596 2,421,752 2,507,867 2,574,746 2,659,886 2,722,628 Average total assets 2,562,094 2,633,000 2,733,561 2,807,518 2,867,114 2,955,779 3,032,328 3,094,756 -------------- *This is a Non-GAAP based financial measure. ***Calculation of Tangible Capital to Tangible Assets (Non-GAAP Financial Measure) Total shareholders ' equity $ 307,186 $ 367,024 $ 376,930 $ 379,350 $ 377,812 $ 376,576 $ 375,319 $ 315,341 Less: Goodwill 6,811 6,811 6,811 6,811 6,811 6,811 6,811 6,811 Preferred stock 68,455 68,268 68,084 67,902 67,724 67,548 67,375 67,205 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Tangible common equity $ 231,920 $ 291,945 $ 302,035 $ 304,637 $ 303,277 $ 302,217 $ 301,133 $ 241,325 =========== =========== =========== =========== =========== =========== =========== =========== Total assets $ 2,382,873 $ 2,572,492 $ 2,660,495 $ 2,779,028 $ 2,820,541 $ 2,905,275 $ 3,010,835 $ 3,074,923 Less goodwill 6,811 6,811 6,811 6,811 6,811 6,811 6,811 6,811 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Tangible assets $ 2,376,062 $ 2,565,681 $ 2,653,684 $ 2,772,217 $ 2,813,730 $ 2,898,464 $ 3,004,024 $ 3,068,112 =========== =========== =========== =========== =========== =========== =========== =========== Tangible common equity to tangible assets 9.76% 11.38% 11.38% 10.99% 10.78% 10.43% 10.02% 7.87% Balance sheet amounts and ratios are as of period end unless otherwise noted.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Southwest Bancorp, Inc.

CONTACT: Rick Green
President & CEO
Laura Robertson
EVP & CFO
(405) 372-2230
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jimHorse jimHorse 12 years ago
Adjusted book value after the nonperforming asset sale is 12.28! That means we've got another +70% to go before we even get back to book value...
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jimHorse jimHorse 12 years ago
I like the sound of this:

Although the result was a loss for 2011, we start 2012 with significantly improved credit quality and regulatory capital ratios that exceed "well capitalized" standards.

We are looking forward to 2012. With our improved balance sheet, we will continue to focus on our commercial banking operations serving our primary markets in Oklahoma, Texas, and Kansas. We have renewed strength in our credit and lending areas and plan to stabilize loan revenue by generating new loans prudently and profitably.

Southwest is driven to return to sustained profitability, to resume payment of dividends on trust preferred securities, preferred stock, and common stock, and to once again produce reliable and attractive returns for our shareholders.

Looks like 2012 should be a good year!
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Underdog Underdog 12 years ago
Nice upward trend here.
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Underdog Underdog 12 years ago
Every day Kev. I dont own any right now but I have this on my watch and Im following OKSB closely.
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Kev2128 Kev2128 12 years ago
Underdog, you still here with OKSB buddy?
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Underdog Underdog 12 years ago
Wow It sure did. Mery Christmas to you and all the OKSBs.
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Kev2128 Kev2128 12 years ago
Even though it was a short day. OKSB did pretty good!
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jimHorse jimHorse 12 years ago
I think we've still got a ways to go from here. Yahoo lists the book value for OKSB at $15.37. And how many other American bank holding companies with a market cap similar to OKSB can claim that they wiped over $300 million of non-performing assets off the balance sheet this past year? Don't forget, this stock was trading over $14 earlier this year BEFORE they sold those bad assets. Now they have dropped that dead weight, and with no European exposure, who knows how high it will fly???
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Underdog Underdog 12 years ago
Looks like you got your answer too. OKSB is making some nice gains.
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Underdog Underdog 12 years ago
Yep I was definatly A nice day for OKSB.
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jimHorse jimHorse 12 years ago
Looks like you've got your answer! Wonder where it will go from here as the word gets out?
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Underdog Underdog 12 years ago
Good job Kev. Looks like A OKSB made A smart move to get rid of the toxic loans. I wonder if this news will move the stock?
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Kev2128 Kev2128 12 years ago
Updated the latest PR in the sticky notes.
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Kev2128 Kev2128 12 years ago
Southwest Bancorp Inc. Reports Sale of Nonperforming Assets and Potential Problem Loans.

6:00 PM ET 12/14/11 | GlobeNewswire
Southwest Bancorp, Inc. (Nasdaq:OKSB) (Nasdaq:OKSBP), ("Southwest"), today announced that it:

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-- Sold nonperforming loans, potential problem loans, and other real estate with a carrying value before transfer to assets held for sale, of approximately $300.3 million; and -- Sold related other loans with a carrying value before transfer to assets held for sale of $1.3 million.

These sales produce a net, pre-tax loss of $101.2 million for the transaction to be recorded in the fourth quarter of 2011. Southwest expects that its capital levels and those of its banking subsidiaries will continue to substantially exceed regulatory standards for well-capitalized institutions and individual minimum capital ratios.

Rick Green, President and Chief Executive Officer, stated, "These sales immediately and substantially reduce our nonperforming assets and potential problem loans. We believe this action is a major step toward achieving our goals of reducing problem assets, returning to sustained profitability, resuming dividends, and producing reliable and attractive returns for our shareholders.

Southwest's Board of Directors decided to enter these agreements after careful consideration of the potential costs and benefits to Southwest and its shareholders and consultation with financial and legal advisors and management. This included consideration of the estimated costs and benefits of continuing the workout process for these assets over time versus the estimated costs and benefits of their immediate resolution by sale."

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-------------------------- ----------------------------------------------- ---------- Carrying Amounts of Loans Prior to Transfer to Loans Held for Sale ----------------------------------------------- Customer Unpaid Potential Principal (Dollars in thousands) Nonperforming Problem Pass Total Balance -------------------------- ------------- ---------- -------- ---------- ---------- Real estate mortgage: Commercial $ 45,484 $ 106,960 $ -- $ 152,444 $ 162,302 One-to-four family residential 66 -- -- 66 75 Rest estate construction: Commercial 45,190 21,060 -- 66,250 82,362 One-to-four family residential 17,941 -- -- 17,941 22,441 Commercial -- 3,226 1,327 4,553 6,320 Other loans -- -- -- -- -- Other real estate 60,397 -- -- 60,397 -- -------------------------- ------------- ---------- -------- ---------- ---------- Total $ 169,078 $ 131,246 $ 1,327 $ 301,651 $ 273,500 ========================== ============= ========== ======== ========== ==========

Potential problem loans are performing loans which are not included in the past due, nonaccrual, or restructured categories, but for which known information about possible credit problems cause management to be uncertain as to the ability of the borrowers to comply with the present loan repayment terms.

For reference, following is information regarding our noncovered loan portfolio at September 30, 2011.

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-------------------------- --------------------------------------- Noncovered Loan Portfolio as of September 30, 2011 Potential (Dollars in thousands) Total Loans Nonperforming Problem -------------------------- ------------ ------------- ---------- Real estate mortgage: Commercial $ 1,169,010 $ 56,234 $ 162,692 One-to-four family residential 85,272 1,706 1,108 Rest estate construction: Commercial 348,053 49,775 75,523 One-to-four family residential 25,527 18,779 344 Commercial 367,241 6,080 37,027 Other loans 38,493 152 -- Other real estate -- 70,785 -- -------------------------- ------------ ------------- ---------- Total $ 2,033,596 $ 203,511 $ 276,694 ========================== ============ ============= ==========

Additional information regarding the effects of the loan and asset sales will be provided in Southwest's 2011 annual earnings release.

The asset sales were made pursuant to a bulk asset sale agreement with SW Loan Portfolio Holdings, L.P. and its affiliates and individual sales of loans under separate agreements with unaffiliated parties. SW Loan Portfolio Holdings L.P. is not an affiliate of Southwest, and Southwest did not retain any interest in the loans or real estate sold.

Stifel Nicolaus was the exclusive financial advisor and McAfee & Taft was the legal advisor to Southwest in connection with the asset sales.

Southwest Bancorp and Subsidiaries



Southwest is the bank holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At September 30, 2011 we had total assets of $2.6 billion, deposits of $2.0 billion, and shareholders' equity of $367.0 million.

Southwest's common stock is traded on the NASDAQ Global Select Market under the symbol OKSB. Southwest's public trust preferred securities are traded on the NASDAQ Global Select Market under the symbol OKSBP.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

Caution About Forward-Looking Statements



We make forward-looking statements in this new release that are subject to risks and uncertainties. We intend these statements to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include:

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-- Statements of our goals, intentions, and expectations: -- Estimates of risks and of future costs and benefits; -- Expectations regarding our future financial performance and the financial performance of our operating segments; -- Assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs; -- Estimates of the value of assets held for sale or available for sale; and -- Statements of our ability to achieve financial and other goals.

These forward-looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters. These other matters include, among other things, the direct and indirect effects of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest's past growth and performance do not necessarily indicate its future results. For other factors, risks, and uncertainties that could cause actual results to differ materially from estimates and projections contained in forward-looking statements, please read the "Risk Factors" contained in Southwest's reports to the Securities and Exchange Commission.

The cautionary statements in this release also identify important factors and possible events that involve risk and uncertainties that could cause our actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements speak only as of the date on which the statements were made. We do not intend, and undertake no obligation, to update or revise any forward-looking statements contained in this release, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting such statements, except as required by law.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Southwest Bancorp, Inc.

CONTACT: Rick Green
President & CEO
Laura Robertson
EVP & CFO
(405) 372-2230
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Underdog Underdog 12 years ago
Thanks boss. LOL
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Kev2128 Kev2128 12 years ago
Glad to have you as a mod here underdog.
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Underdog Underdog 12 years ago
OKSB is in A nice looking uptrend.
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Underdog Underdog 12 years ago
Hay Kev thanks for the well wishes. My trip went well. Had A blast. I did lose money in Reno but after running over A just hit dear and having no damage I feel lucky. Take care.
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Underdog Underdog 12 years ago
Good and cheap penny brokers are getting harder to find. Ive gotta run Kev catcha later. OKSB
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Kev2128 Kev2128 12 years ago
Yeah zecco is not penny stock friendly! I also had them at the beginning of the year and got rid of them!
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Underdog Underdog 12 years ago
LOL Yep!!!! Zecco But not any more. I am switching to Choicetrade for my discount/penny broker. There format is kinda wierd but I getting used to it.
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Kev2128 Kev2128 12 years ago
Don't tell me you have Zecco?
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Underdog Underdog 12 years ago
Hi yah kev.No I wished I could have played that last bounce but I had to miss it. Im watching this pps drop now. But in the middle of switching brokers too. Hope I can catch this next bottom bounce. LOL Take care bro.
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Kev2128 Kev2128 12 years ago
Hey underdog! You still with this one here?
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Underdog Underdog 12 years ago
I will be watching. I like to play the bottom bounces.
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Kev2128 Kev2128 12 years ago
Wow yeah! This thing is going to touch the 52 weeks low at 3.75 probably tomorrow!



Open 4.31
Previous Close 4.66
52 - Week Range 3.751 - 14.82
10/4/11 - 2/10/11
Avg Volume (10 days)95,258
P/E (Trailing 12 mo.)26.20x
EPS (Trailing 12 mo.) 0.17784
Next Earnings Date10/20/11
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Kev2128 Kev2128 12 years ago
Southwest Bancorp misses by $0.37
6:14 AM ET 10/20/11 | Briefing.com
Reports Q3 (Sep) loss of $0.54 per share, $0.37 worse than the Capital IQ Consensus Estimate of ($0.17). Co states losses were primarily the result of significantly increased provisions for loan losses and other problem loan related costs. These increases are generally due to continued weakness in the economy and commercial real estate values in particular. The provision for loan losses totaled $24.6 mln for the third quarter of 2011, compared to $12.0 mln for the third quarter of 2010 and $20.1 mln for the second quarter of 2011. Net charge-offs totaled $14.5 mln, or 2.70% (annualized) of average portfolio loans for the third quarter of 2011, compared to $6.6 mln, or 1.05% (annualized) of average portfolio loans for the third quarter of 2010 and $26.9 mln, or 4.76% (annualized) of average portfolio loans for the second quarter of 2011.
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Kev2128 Kev2128 12 years ago
Southwest Bancorp Inc. Reports Third Quarter 2011 ResultsFont
6:00 AM ET 10/20/11 | GlobeNewswire
Southwest Bancorp, Inc. (Nasdaq:OKSB) (Nasdaq:OKSBP) ("Southwest") today reported a net loss available to common shareholders of $10.6 million, or $0.54 per diluted share for the third quarter of 2011, compared to net income available to common shareholders of $2.8 million, or $0.15 per diluted share for the third quarter of 2010, and to a net loss available to common shareholders of $4.0 million, or $0.21 per diluted share for the second quarter of 2011. The net loss available to common shareholders for the nine months ended September 30, 2011 was $13.2 million, or $0.68 per diluted share, compared to net income available to common shareholders for the nine months ended September 30, 2010 of $9.5 million, or $0.55 per diluted share.

Rick Green, President and CEO, stated, "Our losses were primarily the result of significantly increased provisions for loan losses and other problem loan related costs. These increases are generally due to continued weakness in the economy and commercial real estate values in particular.

"We continue to focus on the identification and resolution of problem and potential problem credits, and we have taken important additional steps this year to improve our lending, banking, and credit functions. In July 2011, we named a new Chief Banking Officer who is responsible for the lending, deposit, and treasury services and a new Chief Credit Officer who has authority over the credit and work-out functions. Both of these new positions report directly to me. We have bolstered our credit analysis and work-out staff with additional experienced and aggressive officers.

"However, we are not satisfied with the pace of our resolution of problem and potential problem assets. Accordingly, we have undertaken a disciplined analysis of all alternatives available to accelerate the resolution process in the near-term. That analysis is continuing, while our enhanced work-out process proceeds.

"Our goals are vital and simple to state. They are to:

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-- "Promptly identify and resolve problem and potential problem assets, until we achieve and maintain acceptable levels; -- "Focus on being a thriving, commercial bank serving our healthy, core markets in Oklahoma, Texas, and Kansas; -- "Return to sustained profitability; -- "Resume dividends on our trust preferred securities, preferred stock, and common stock; and -- "Produce reliable and attractive returns for our shareholders."

Third Quarter 2011 Key Notes

Loans and Credit Quality:

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-- Noncovered loans decreased by $332.9 million, or 14%, from year-end and $414.1 million, or 17%, from September 30, 2010. This decrease included a reduction of the commercial real estate mortgage and construction concentration to $1.5 billion, or 75%, of noncovered loans at September 30, 2011. Healthcare credits at quarter-end totaled $624.1 million, or 31%, of noncovered loans, including $387.9 million of healthcare related commercial real estate mortgage and construction loans. -- Noncovered loans segmented by the market of the collateral location were as follows: $845.5 million in Texas, $770.3 million in Oklahoma, $252.3 million in Kansas, and $166.8 million in out of market states. The out of market loans consists of thirty-four states in the following categories: $100.4 million in commercial real estate, $39.3 million in construction & development, $21.1 million in commercial & industrial, $3.6 million in residential real estate, and $2.4 million in consumer. -- Nonperforming assets increased to $203.5 million and 9.86% of noncovered portfolio loans and other real estate from $190.1 million and 8.66% of noncovered portfolio loans and other real estate at June 30, 2011 and from $144.8 million and 6.11% of noncovered portfolio loans and other real estate at December 31, 2010. In the first nine months of 2011 the migration of nonperforming assets consisted of: $154.1 million placed on nonaccrual, $14.4 million returned to accrual status, $47.6 million charged-off, $2.4 million of other real estate fair value impairments, $48.9 million transferred from nonperforming loans to other real estate, $18.0 million received in resolutions and payments on nonperforming loans, and $13.1 million received from sales of other real estate. Nonperforming healthcare assets were $15.7 million, or 8%, of total nonperforming assets. -- Nonperforming loans consisted of $68.6 million in construction & development, $56.2 million in commercial real estate, $6.1 million in commercial & industrial, $1.7 million in residential real estate, and $0.1 million in consumer. Nonperforming loans by location were as follows: $95.2 million in Texas, $14.9 million in Oklahoma, $14.6 million in out of market states, and $8.0 million in Kansas. -- Other real estate consisted of $38.9 million in construction & development, $24.4 million in commercial real estate, and $7.5 million in residential real estate. Other real estate by location was as follows: $35.3 million in Texas, $14.4 million in out of market states, $12.4 million in Kansas, and $8.7 million in Oklahoma. -- Impaired loans had a carrying value of $204.5 million versus an unpaid principal value of $230.6 million. Impaired loans with a specific allowance allocation had a carrying value of $115.5 million versus an unpaid principal value of $125.0 million. -- The allowance for loan losses was 3.25% of noncovered portfolio loans, compared to 2.80% at year-end 2010 and 3.00% at September 30, 2010. The allowance on specifically allocated impaired loans was 14.41% of carrying value and 13.31% of unpaid principal. -- Quarterly net charge-offs totaled $14.5 million and consisted of $7.2 million in construction & development, $5.7 million in commercial real estate, $1.5 million in commercial & industrial, and $0.1 million in residential real estate & consumer. The net charge-offs were in the following locations: $7.4 million in Texas, $5.7 million in out of market states, $1.0 million in Oklahoma, and $0.4 million in Kansas. -- Potential problem loans were $276.7 million, up $43.6 million, or 19%, from year-end, and $39.9 million, or 17%, from September 30, 2010. These loans consisted of $162.7 million in commercial real estate, $75.9 million in construction & development, $37.0 million in commercial & industrial, and $1.1 million in residential real estate. Potential problem loans by location were as follows: $164.0 million in Texas, $54.3 million in Oklahoma, $43.9 million in out of market states, and $14.5 million in Kansas.

Capital Position and Liquidity:

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-- As of September 30, 2011, Southwest and each of its banking subsidiaries met the criteria for regulatory classification as "well-capitalized". Southwest's total regulatory capital was $461.9 million, for a total risk-based capital ratio of 20.81%, and Tier 1 capital was $433.6 million, for a Tier 1 risk-based capital ratio of 19.54%. Southwest's capital exceeded the minimum to be classified as "well-capitalized" by $240.0 million. Stillwater National Bank, Southwest's principal banking subsidiary, had total regulatory capital of $383.8 million, for a total risk-based capital ratio of 19.14%, and Tier 1 capital of $343.2 million, for a Tier 1 risk-based capital ratio of 17.12%. Stillwater National Bank exceeded the minimum to be classified as "well-capitalized" by $133.2 million. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators. Stillwater National Bank's leverage and total risk-based capital ratios also substantially exceeded the individual minimum ratios agreed to with the Comptroller of the Currency of 8.50% and 12.50%. -- In July, we determined to defer future payments of interest on our debentures and dividends on related trust preferred securities and to defer payments of dividends on our Series B Preferred Securities issued under the U.S. Treasury Department's Capital Purchase Program. The terms of our debentures and trust preferred securities allow us to increase or decrease the deferral period without default or penalty. -- As of September 30, 2011, the holding company has $29.2 million in cash.

Financial Overview

Condition: Total assets were $2.6 billion and total loans were $2.1 billion at September 30, 2011, a decrease of 9% and 14%, respectively, from December 31, 2010.

At September 30, 2011 the allowance for loan losses was $64.7 million, a decrease of 11% and 1% from September 30, 2010 and December 31, 2010, respectively.

Total core funding, which includes all non-brokered time deposits and sweep repurchase agreements, comprised 91% of total funding, compared to 90% at June 30, 2011 and 86% at December 31, 2010. Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 9% of total funding compared to 10% at June 30, 2011 and 14% at December 31, 2010. Please see Table 7 for details on these non-GAAP financial measures.

Year-to-date Results:

Summary: The net loss available to common shareholders was $13.2 million as of September 30, 2011, compared to net income available to common shareholders of $9.5 million as of September 30, 2010. The $22.7 million decrease in our net income available to common shareholders from 2010 is the result of a $25.5 million increase in the provision for loan losses, a $5.9 million decrease in net interest income, a $4.0 million decrease in noninterest income, and a $1.5 million increase in noninterest expense, offset in part by a $14.3 million decrease in income tax expense.

On June 28, 2011, Southwest entered into a settlement agreement with the Oklahoma State Tax Commission (the "Commission") with respect to certain claims by the Commission. Southwest had previously recorded reserves against these claims. As a result of the settlement agreement, Southwest paid the sum of $4.8 million to the Commission and recorded a gain of $2.6 million, net of tax effect, upon reversal of excess reserves. The year-to-date calculated effective tax rate is 41.80% and results in a tax benefit; however, when the discreet items are excluded, the effective tax rate year-to-date is 38.90%, also resulting in a tax benefit. Discreet items include the reversal of excess tax reserves in the second quarter and the provision to return adjustment in the third quarter.

Net Interest Income: Net interest income totaled $74.4 million for the first nine months of 2011, compared to $80.4 million for the first nine months of 2010, a decrease of $5.9 million, or 7%. Year-to-date net interest margin was 3.78%, compared to 3.63% in 2010. Included in 2011 year-to-date net interest income was a net reduction of $0.4 million resulting from interest reversals on nonaccrual loans offset by the year-to-date adjustments of the discount accretion on loans and the loss share receivable. Included in 2010 year-to-date net interest income was $0.5 million of net recoveries from the resolution of nonperforming loans and additional discount accretion on loans and loss share receivable, offset in part by interest reversals on nonaccrual loans. The net effects of these adjustments on net interest margin were a 2 basis point decrease and a 3 basis point increase, respectively.

Provision for Loan Losses and Net Charge Offs: The provision for loan losses totaled $53.8 million for the first nine months of 2011, compared to $28.3 million for the first nine months of 2010. Net charge-offs totaled $54.3 million, or 3.24% (annualized) of average portfolio loans year-to-date as of September 30, 2011, compared to $18.3 million, or 0.95% (annualized) of average portfolio loans for the same period in the prior year.

As of September 30, 2011, sixteen relationships accounted for $45.5 million in charge-offs, of which $26.1 million were on six out of market relationships. At September 30, 2011, total out of market commercial real estate and construction loans was $139.7 million, of which $51.0 million were internally rated substandard or doubtful.

Noninterest Income: Noninterest income totaled $10.4 million for the first nine months of 2011, compared to $14.5 million for the first nine months of 2010. The decrease in noninterest income was primarily the result of a $2.6 million decline in gain on investment securities, a $1.0 million decline in gain on sale of loans, mainly from declined student loan sales, and a $0.3 million decline in other noninterest income.

Noninterest Expense: Noninterest expense totaled $48.3 million for the first nine months of 2011, compared to $46.8 million for the first nine months of 2010. The increase consists of a $3.5 million increase in other real estate expense and a $1.6 million increase in provision for unfunded loan commitments due to increased loss ratios, offset in part by a $1.8 million decrease in other general and administrative expense, primarily from the settlement of Oklahoma state tax claims for less than the amount accrued, a $1.5 million decrease in FDIC and other insurance expense, and a $0.3 million decrease in occupancy expense.

Third Quarter Results:

Summary: For the third quarter of 2011, Southwest incurred a net loss available to common shareholders of $10.6 million, compared to net income available to common shareholders of $2.8 million in the third quarter of 2010 and a net loss available to common shareholders of $4.0 million in the second quarter of 2011. The decrease from the third quarter of 2010 was the result of a $12.6 million increase in the provision for loan losses, a $2.7 million decrease in noninterest income, a $2.4 million decrease in net interest income, and a $2.3 million increase in noninterest expense, offset in part by a $6.7 million decrease in income taxes. The decrease from the second quarter of 2011 was the result of a $4.5 million increase in the provision for loan losses, a $2.7 million increase in noninterest expense, and a $1.0 million decrease in net interest income, offset in part by a $1.6 million decrease in income taxes.

For the third quarter of 2011, the calculated effective tax rate is 35.23% and results in a tax benefit; however, when discreet items are excluded, the effective tax rate for the third quarter is 36.94%, also resulting in a tax benefit. Discreet items included the provision to return adjustment in the third quarter.

Net Interest Income: Net interest income totaled $24.0 million for the third quarter of 2011, compared to $26.5 million for the third quarter of 2010, a decrease of $2.4 million, or 9%, and $25.0 million for the second quarter of 2011, a decrease of $1.0 million, or 4%. Net interest margin was 3.77% for the third quarter of 2011, compared to 3.63% for the third quarter of 2010 and 3.79% for the second quarter of 2011. Included in the net interest margins were net reductions of $0.3 million, $0.3 million, and $0.2 million, respectively for each quarter, resulting from interest reversals on nonaccrual loans offset by the quarterly adjustments of the discount accretion on loans and the loss share receivable. The net effects of these adjustments on the net interest margins were a 5 basis point decrease, a 5 basis point decrease, and a 3 basis point decrease for each quarter, respectively.

Provision for Loan Losses and Net Charge-Offs: The provision for loan losses totaled $24.6 million for the third quarter of 2011, compared to $12.0 million for the third quarter of 2010 and $20.1 million for the second quarter of 2011. Net charge-offs totaled $14.5 million, or 2.70% (annualized) of average portfolio loans for the third quarter of 2011, compared to $6.6 million, or 1.05% (annualized) of average portfolio loans for the third quarter of 2010 and $26.9 million, or 4.76% (annualized) of average portfolio loans for the second quarter of 2011.

For the third quarter of 2011, eight relationships accounted for $12.9 million in charge-offs, of which $5.5 million were on four out of market relationships.

Noninterest Income: Noninterest income totaled $3.6 million for the third quarter of 2011, compared to $6.3 million for the third quarter of 2010 and $3.6 million for the second quarter of 2011. The decrease in noninterest income from the third quarter of 2010 was primarily the result of a $2.6 million decrease in gain on investment securities.

Noninterest Expense: Noninterest expense totaled $17.7 million for the third quarter of 2011, compared to $15.4 million for the third quarter of 2010 and $15.0 million for the second quarter of 2011. The increase from third quarter 2010 consisted of a $1.2 million increase in other real estate expense and a $0.6 million increase in provision for unfunded loan commitments, a $0.6 million increase in other general and administrative expense, and a $0.5 million increase in personnel expense, offset in part by a $0.5 million decrease in FDIC and other insurance expense. The increase from second quarter 2011 consisted of a $3.1 million increase in other general and administrative expense, primarily from the second quarter settlement of Oklahoma state tax claims for less than the amount accrued, and a $0.8 million increase in personnel expense, offset in part by a $1.2 million decrease in other real estate expense.

Southwest Bancorp and Subsidiaries

Southwest is the bank holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At September 30, 2011 we had total assets of $2.6 billion, deposits of $2.0 billion, and shareholders' equity of $367.0 million.

Our area of expertise focuses on the special financial needs of healthcare and health professionals, businesses and their managers and owners, and commercial and commercial real estate borrowers. We established a strategic focus on healthcare lending in 1974. We provide credit and other services, such as deposits, cash management, and document imaging for physicians and other healthcare practitioners to start or develop their practices and finance the development and purchase of medical offices, clinics, surgical care centers, hospitals, and similar facilities. As of September 30, 2011, approximately $624.1 million, or 31%, of our noncovered loans were loans to individuals and businesses in the healthcare industry. We conduct regular market reviews of our current and potential healthcare lending and the appropriate concentrations within healthcare based upon economic and regulatory conditions.

We also focus on commercial real estate mortgage and construction credits. We do not focus on one-to-four family residential development loans or "spec" residential property credits. Additionally, subprime residential lending has never been a part of our business strategy, and our exposure to subprime mortgage loans and subprime lenders is minimal. One-to-four family mortgages account for less than 5% of total noncovered loans. As of September 30, 2011 approximately $1.5 billion, or 75%, of our noncovered loans were commercial real estate mortgage and construction loans, including $387.9 million of loans to individuals and businesses in the healthcare industry.

Southwest's common stock is traded on the NASDAQ Global Select Market under the symbol OKSB. Southwest's public trust preferred securities are traded on the NASDAQ Global Select Market under the symbol OKSBP.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

Forward-Looking Statements

This earnings release includes forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include: statements of Southwest's goals, intentions, and expectations; estimates of risks and of future costs and benefits; expectations regarding future financial performance of Southwest and its operating segments; assessments of loan quality, probable loan losses, collateral values and the amount and timing of loan payoffs; liquidity, contractual obligations, off-balance sheet risk, and market or interest rate risk; estimates of value of acquired assets, deposits, and other liabilities; and statements of Southwest's ability to achieve financial and other goals. These forward-looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; and a variety of other matters. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest's past growth and performance do not necessarily indicate our future results.

Southwest is required under generally accepted accounting principles to evaluate subsequent events and their impact, if any, on its financial statements as of September 30, 2011 through the date its financial statements are filed with the Securities and Exchange Commission. The September 30, 2011 financial statements included in this release will be adjusted if necessary to properly reflect the impact of subsequent events on estimates used to prepare those statements.

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Financial Tables Unaudited Financial Highlights Table 1 Unaudited Consolidated Statements of Financial Condition Table 2 Unaudited Consolidated Statements of Operations Table 3 Unaudited Average Balances, Yields, and Rates-Quarterly Table 4 Unaudited Average Balances, Yields, and Rates-Year-to-Date Table 5 Unaudited Quarterly Summary Loan Data Table 6 Unaudited Quarterly Summary Financial Data Table 7 Unaudited Quarterly Supplemental Analytical Data Table 8

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SOUTHWEST BANCORP, INC. Table 1 UNAUDITED FINANCIAL HIGHLIGHTS (Dollars in thousands, except per share) Third Quarter Second Quarter -------------------------------- ------------------------------ --------------------- QUARTERLY HIGHLIGHTS % % 2011 2010 Change 2011 Change ---------- ---------- ------ ---------- --------- Operations Net interest income $ 24,025 $ 26,452 (9)% $ 24,985 (4)% Provision for loan losses 24,626 11,988 105 20,140 22 Noninterest income 3,589 6,335 (43) 3,604 -- Noninterest expense 17,693 15,418 15 14,980 18 Income (loss) before taxes (14,705) 5,381 (373) (6,531) 125 Taxes on income (5,180) 1,508 (444) (3,561) 45 Net income (loss) (9,525) 3,873 (346) (2,970) 221 Net income (loss) available to common shareholders (10,589) 2,825 (475) (4,027) 163 Diluted earnings per share (0.54) 0.15 (460) (0.21) 157 Balance Sheet Total assets 2,572,492 2,905,275 (11) 2,660,495 (3) Loans held for sale 39,902 34,868 14 37,204 7 Noncovered portfolio loans 1,933,694 2,412,796 (20) 2,156,096 (10) Covered portfolio loans 41,209 60,558 (32) 46,153 (11) Total deposits 2,022,253 2,345,648 (14) 2,094,236 (3) Total shareholders' equity 367,024 376,576 (3) 376,930 (3) Book value per common share 15.37 15.93 (4) 15.89 (3) Key Ratios Net interest margin 3.77% 3.63% 3.79% Efficiency ratio 64.07 47.02 52.40 Total capital to risk-weighted assets 20.81 18.45 20.20 Nonperforming loans to portfolio loans - noncovered 6.66 5.62 7.01 Shareholders' equity to total assets 14.27 12.96 14.17 Tangible common equity to tangible assets* 11.38 10.43 11.38 Return on average assets (annualized) (1.43) 0.52 (0.43) Return on average common equity (annualized) (13.42) 3.57 (5.11) Return on average tangible common equity (annualized)** (13.72) 3.65 (5.22) --------------------------------------------------------------------------------------- YEAR-TO-DATE HIGHLIGHTS Nine Month ------------------------------ % 2011 2010 Change ---------- ---------- ------ Operations Net interest income $ 74,431 $ 80,361 (7)% Provision for loan losses 53,816 28,295 90 Noninterest income 10,442 14,475 (28) Noninterest expense 48,298 46,822 3 Income (loss) before taxes (17,241) 19,719 (187) Taxes on income (7,207) 7,063 (202) Net income (loss) (10,034) 12,656 (179) Net income (loss) available to common shareholders (13,208) 9,520 (239) Diluted earnings per share (0.68) 0.55 (224) Balance Sheet Total assets 2,572,492 2,905,275 (11) Loans held for sale 39,902 34,868 14 Noncovered portfolio loans 1,933,694 2,412,796 (20) Covered portfolio loans 41,209 60,558 (32) Total deposits 2,022,253 2,345,648 (14) Total shareholders' equity 367,024 376,576 (3) Book value per common share 15.37 15.93 (4) Key Ratios Net interest margin 3.78% 3.63% Efficiency ratio (GAAP-based) 56.91 49.37 Total capital to risk-weighted assets 20.81 18.45 Nonperforming loans to portfolio loans - noncovered 6.66 5.62 Shareholders' equity to total assets 14.27 12.96 Tangible common equity to tangible assets* 11.38 10.43 Return on average assets (0.49) 0.56 Return on average common equity (5.61) 4.47 Return on average tangible common equity** (5.74) 4.58 --------------------------------------------------------------------------------------- Balance sheet amounts and ratios are as of period end unless otherwise noted. * This is a Non-GAAP financial measure. Please see Table 8 for a reconciliation to the most directly comparable GAAP based measure. ** This is a Non-GAAP financial measure. Please see accompanying tables for additional financial information.

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SOUTHWEST BANCORP, INC. Table 2 UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Dollars in thousands, except per share) September, December September, 30 31, 30 2011 2010 2010 ----------- ----------- ----------- Assets Cash and due from banks $ 27,501 $ 26,478 $ 22,851 Interest-bearing deposits 89,099 41,018 66,607 ----------- ----------- ----------- Cash and cash equivalents 116,600 67,496 89,458 Securities held to maturity (fair values of $15,805, $14,029, $9,185, respectively) 15,398 14,304 9,093 Securities available for sale (amortized cost of $247,094, $246,649, $226,323, respectively) 254,201 248,221 231,751 Loans held for sale 39,902 35,194 34,868 Noncovered loans receivable 1,993,694 2,331,293 2,412,796 Less: Allowance for loan losses (64,698) (65,229) (72,418) ----------- ----------- ----------- Net noncovered loans receivable 1,928,996 2,266,064 2,340,378 Covered loans receivable (includes loss share: $10,976, $14,370, and $17,922, respectively) 41,209 53,628 60,558 ----------- ----------- ----------- Net loans receivable 1,970,205 2,319,692 2,400,936 Accrued interest receivable 8,035 8,590 9,663 Income tax receivable 12,509 -- -- Premises and equipment, net 22,706 23,772 25,075 Noncovered other real estate 70,785 37,722 35,723 Covered other real estate 5,350 4,187 4,448 Goodwill 6,811 6,811 6,811 Other intangible assets, net 4,966 5,371 5,358 Other assets 45,024 49,181 52,091 ----------- ----------- ----------- Total assets $ 2,572,492 $ 2,820,541 $ 2,905,275 =========== =========== =========== Liabilities Deposits: Noninterest-bearing demand $ 388,365 $ 377,182 $ 329,655 Interest-bearing demand 98,270 92,584 86,153 Money market accounts 461,546 495,253 518,422 Savings accounts 31,319 26,665 25,556 Time deposits of $100,000 or more 551,914 694,565 795,303 Other time deposits 490,839 566,479 590,559 ----------- ----------- ----------- Total deposits 2,022,253 2,252,728 2,345,648 Accrued interest payable 2,507 1,577 2,457 Income tax payable -- 2,878 6,603 Other liabilities 12,162 8,981 9,522 Other borrowings 86,583 94,602 82,506 Subordinated debentures 81,963 81,963 81,963 ----------- ----------- ----------- Total liabilities 2,205,468 2,442,729 2,528,699 Shareholders' equity Serial preferred stock; 2,000,000 shares authorized; 70,000 shares issued and outstanding 68,268 67,724 67,548 Common stock -- $1 par value; 40,000,000 shares authorized; 19,441,577, 19,421,900, 19,395,675 shares issued and outstanding, respectively 19,442 19,422 19,396 Additional paid-in capital 98,981 98,894 98,750 Retained earnings 177,584 190,793 187,535 Accumulated other comprehensive income 2,749 979 3,347 ----------- ----------- ----------- Total shareholders' equity 367,024 377,812 376,576 ----------- ----------- ----------- Total liabilities and shareholders' equity $ 2,572,492 $ 2,820,541 $ 2,905,275 =========== =========== ===========

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SOUTHWEST BANCORP, INC. Table 3 UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share) For the three months For the nine months ended September 30, ended September 30, -------------------- --------------------- 2011 2010 2011 2010 ---------- -------- ---------- --------- Interest income Loans $ 27,873 $ 32,824 $ 87,890 $ 101,087 Investment securities 1,779 2,079 5,389 6,424 Other interest-earning assets 131 180 401 610 ---------- -------- ---------- --------- Total interest income 29,783 35,083 93,680 108,121 Interest expense Interest-bearing deposits 3,811 6,802 13,475 22,347 Other borrowings 469 524 1,460 1,565 Subordinated debentures 1,478 1,305 4,314 3,848 ---------- -------- ---------- --------- Total interest expense 5,758 8,631 19,249 27,760 ---------- -------- ---------- --------- Net interest income 24,025 26,452 74,431 80,361 Provision for loan losses 24,626 11,988 53,816 28,295 ---------- -------- ---------- --------- Net interest income (loss) after provision for loan losses (601) 14,464 20,615 52,066 Noninterest income Service charges and fees 3,117 2,994 9,226 9,260 Gain on sales of loans 426 653 1,021 2,054 Gain on investment securities -- 2,605 -- 2,646 Other noninterest income 46 83 195 515 ---------- -------- ---------- --------- Total noninterest income 3,589 6,335 10,442 14,475 Noninterest expense Salaries and employee benefits 7,734 7,183 22,223 22,400 Occupancy 2,694 2,835 8,201 8,454 FDIC and other insurance 824 1,347 3,004 4,455 Other real estate, net 1,445 228 4,483 963 General and administrative 4,996 3,825 10,387 10,550 ---------- -------- ---------- --------- Total noninterest expense 17,693 15,418 48,298 46,822 ---------- -------- ---------- --------- Income (loss) before taxes (14,705) 5,381 (17,241) 19,719 Taxes on income (5,180) 1,508 (7,207) 7,063 ---------- -------- ---------- --------- Net income (loss) $ (9,525) $ 3,873 $ (10,034) $ 12,656 ========== ======== ========== ========= Net income (loss) available to common shareholders $ (10,589) $ 2,825 $ (13,208) $ 9,520 ========== ======== ========== ========= Basic earnings per common share $ (0.54) $ 0.15 $ (0.68) $ 0.55 Diluted earnings per common share (0.54) 0.15 (0.68) 0.55 Common dividends declared per share -- -- -- --

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SOUTHWEST BANCORP, INC. Table 4 UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - QUARTERLY (Dollars in thousands) For the three months ended September 30, -------------------------------------------------------------------- 2011 2010 --------------------------------- --------------------------------- Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate ----------- -------- ---------- ----------- -------- ---------- Assets Noncovered loans $ 2,127,291 $ 27,160 5.07% $ 2,477,413 $ 31,791 5.09% Covered loans 44,018 713 6.43 65,999 1,033 6.21 Investment securities 269,143 1,779 2.62 246,838 2,079 3.34 Other interest-earning assets 87,649 131 99,500 180 ----------- -------- 0.59 ----------- -------- 0.72 Total interest-earning assets 2,528,101 29,783 4.67 2,889,750 35,083 4.82 Other assets 121,115 76,570 ----------- ----------- Total assets $ 2,649,216 $ 2,966,320 =========== =========== Liabilities and Shareholders' Equity Interest-bearing demand deposits $ 111,805 $ 102 0.36% $ 93,481 $ 111 0.47% Money market accounts 480,817 507 0.42 515,754 976 0.75 Savings accounts 30,467 11 0.14 25,306 15 0.24 Time deposits 1,065,019 3,191 1,428,247 5,700 ----------- -------- 1.19 ----------- -------- 1.58 Total interest-bearing deposits 1,688,108 3,811 0.93 2,062,788 6,802 1.31 Other borrowings 89,964 469 2.07 93,136 524 2.23 Subordinated debentures 81,963 1,478 81,963 1,305 ----------- -------- 7.21 ----------- -------- 6.37 Total interest-bearing liabilities 1,860,035 5,758 1.23 8,631 1.53 -------- ---------- 2,237,887 -------- ---------- Noninterest-bearing demand deposits 375,465 330,321 Other liabilities 32,447 16,960 Shareholders' equity 381,269 381,152 ----------- ----------- Total liabilities and shareholders' equity $ 2,649,216 $ 2,966,320 =========== =========== Net interest income and spread $ 24,025 3.44% $ 26,452 3.29% ======== ========== ======== ========== Net interest margin (1) 3.77% 3.63% ========== ========== Average interest-earning assets to average interest-bearing liabilities 135.92% 129.13% =========== =========== (1) Net interest margin = annualized net interest income / average interest-earning assets

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SOUTHWEST BANCORP, INC. Table 5 UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - YEAR-TO-DATE (Dollars in thousands) For the nine months ended September 30, -------------------------------------------------------------------- 2011 2010 --------------------------------- --------------------------------- Average Average Average Average Balance Interest Yield/Rate Balance Interest Yield/Rate ----------- -------- ---------- ----------- -------- ---------- Assets Noncovered loans $ 2,234,219 $ 85,366 5.11% $ 2,533,490 $ 97,381 5.14% Covered loans 47,619 2,524 7.09 72,676 3,706 6.82 Investment securities 264,004 5,389 2.73 242,629 6,424 3.54 Other interest-earning assets 87,729 401 114,629 610 ----------- -------- 0.61 ----------- -------- 0.71 Total interest-earning assets 2,633,571 93,680 4.76 2,963,424 108,121 4.88 Other assets 102,042 74,199 ----------- ----------- Total assets $ 2,735,613 $ 3,037,623 =========== =========== Liabilities and Shareholders' Equity Interest-bearing demand deposits $ 112,394 $ 329 0.39% $ 102,843 $ 383 0.50% Money market accounts 487,522 1,766 0.48 508,742 3,026 0.80 Savings accounts 29,131 37 0.17 25,515 47 0.25 Time deposits 1,158,922 11,343 1,534,135 18,891 ----------- -------- 1.31 ----------- -------- 1.65 Total interest-bearing deposits 1,787,969 13,475 1.05 2,171,235 22,347 1.38 Other borrowings 89,384 1,460 2.18 96,099 1,565 2.18 Subordinated debentures 81,963 4,314 81,963 3,848 ----------- -------- 7.02 ----------- -------- 6.26 Total interest-bearing liabilities 1,959,316 19,249 1.31 27,760 1.58 -------- ---------- 2,349,297 -------- ---------- Noninterest-bearing demand deposits 370,145 318,609 Other liabilities 23,510 17,629 Shareholders' equity 382,642 352,088 ----------- ----------- Total liabilities and shareholders' equity $ 2,735,613 $ 3,037,623 =========== =========== Net interest income and spread $ 74,431 3.45% $ 80,361 3.30% ======== ========== ======== ========== Net interest margin (1) 3.78% 3.63% ========== ========== Average interest-earning assets to average interest-bearing liabilities 134.41% 126.14% =========== =========== (1) Net interest margin = annualized net interest income / average interest-earning assets

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SOUTHWEST BANCORP, INC. Table 6 UNAUDITED QUARTERLY SUMMARY LOAN DATA (Dollars in thousands, except per share) ----------------------------------------------------------------------------------------- 2011 2010 ------------------------------------- -------------------------------------------------- Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- LOAN COMPOSITION Noncovered: --------------------------- Real estate mortgage: Commercial $ 1,169,010 $ 1,262,753 $ 1,302,164 $ 1,310,464 $ 1,271,278 $ 1,251,709 $ 1,230,009 One-to-four family residential 85,272 87,407 87,286 89,800 109,980 106,814 111,185 Real estate construction Commercial 348,053 372,576 403,635 441,265 527,773 589,590 630,472 One-to-four family residential 25,527 26,400 26,758 27,429 30,527 35,129 34,996 Commercial 367,241 404,229 416,392 452,626 463,132 471,004 487,074 Installment and consumer: Guaranteed student loans 5,547 5,600 5,700 5,843 5,960 7,389 10,199 Other 32,946 34,335 36,493 39,060 39,014 39,328 38,048 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total noncovered loans, including held for sale 2,033,596 2,193,300 2,278,428 2,366,487 2,447,664 2,500,963 2,541,983 Less allowance for loan losses (64,698) (54,575) (61,285) (65,229) (72,418) (67,055) (65,168) ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total noncovered loans, net $ 1,968,898 $ 2,138,725 $ 2,217,143 $ 2,301,258 $ 2,375,246 $ 2,433,908 $ 2,476,815 =========== =========== =========== =========== =========== =========== =========== Covered: --------------------------- Real estate mortgage: Commercial $ 23,201 $ 26,976 $ 28,929 $ 30,997 $ 33,428 $ 36,107 $ 37,487 One-to-four family residential 7,378 8,113 8,192 9,122 10,071 10,277 10,843 Real estate construction Commercial 5,987 6,001 6,144 6,840 7,464 8,190 11,173 One-to-four family residential -- 172 281 439 1,823 3,853 5,273 Commercial 4,286 4,461 5,021 5,554 6,816 8,487 10,807 Installment and consumer: 357 430 550 676 956 1,092 1,326 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total covered loans $ 41,209 $ 46,153 $ 49,117 $ 53,628 $ 60,558 $ 68,006 $ 76,909 =========== =========== =========== =========== =========== =========== =========== LOANS BY SEGMENT Oklahoma banking $ 770,306 $ 834,189 $ 838,006 $ 871,393 $ 890,598 $ 914,004 $ 926,870 Texas banking 845,485 911,134 953,123 982,845 1,024,863 1,041,228 1,063,511 Kansas banking 252,302 260,431 272,685 289,642 309,240 329,157 342,596 Out of market 166,810 196,495 226,383 241,041 248,653 258,965 260,329 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Subtotal 2,034,903 2,202,249 2,290,197 2,384,921 2,473,354 2,543,354 2,593,306 Secondary market 39,902 37,204 37,348 35,194 34,868 25,615 25,586 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total loans $ 2,074,805 $ 2,239,453 $ 2,327,545 $ 2,420,115 $ 2,508,222 $ 2,568,969 $ 2,618,892 =========== =========== =========== =========== =========== =========== =========== NONPERFORMING LOANS BY TYPE Construction & development $ 68,554 $ 73,487 $ 68,183 $ 67,571 $ 88,590 $ 75,079 $ 54,648 Commercial real estate 56,234 60,857 47,986 30,510 34,448 25,413 28,520 Commercial 6,080 15,224 16,633 6,977 6,180 2,614 4,100 One-to-four family residential 1,706 1,457 2,634 1,984 6,401 8,843 10,552 Consumer 152 153 27 41 42 255 42 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans - noncovered $ 132,726 $ 151,178 $ 135,463 $ 107,083 $ 135,661 $ 112,204 $ 97,862 =========== =========== =========== =========== =========== =========== =========== NONPERFORMING LOANS BY SEGMENT Oklahoma banking $ 14,932 $ 18,870 $ 13,443 $ 9,726 $ 9,937 $ 6,041 $ 7,638 Texas banking 95,191 91,449 87,122 55,431 74,581 48,873 41,303 Kansas banking 7,976 9,725 7,924 6,923 14,126 18,593 15,603 Out of market 14,627 31,134 26,974 35,003 37,017 38,697 33,318 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans - noncovered $ 132,726 $ 151,178 $ 135,463 $ 107,083 $ 135,661 $ 112,204 $ 97,862 =========== =========== =========== =========== =========== =========== =========== OTHER REAL ESTATE BY TYPE Construction & development $ 38,927 $ 12,588 $ 6,304 $ 5,579 $ 9,349 $ 1,625 $ 1,441 Commercial real estate 24,364 16,300 23,890 20,750 19,053 19,444 12,320 One-to-four family residential 7,494 10,068 10,873 11,393 7,321 6,565 5,048 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total other real estate - noncovered $ 70,785 $ 38,956 $ 41,067 $ 37,722 $ 35,723 $ 27,634 $ 18,809 =========== =========== =========== =========== =========== =========== =========== OTHER REAL ESTATE BY SEGMENT Oklahoma banking $ 8,709 $ 2,613 $ 4,616 $ 4,814 $ 4,108 $ 3,547 $ 3,665 Texas banking 35,270 17,398 18,652 15,810 14,651 10,352 4,376 Kansas banking 12,390 14,539 12,848 13,182 12,218 8,989 9,198 Out of market 14,416 4,406 4,951 3,916 4,746 4,746 1,570 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total other real estate - noncovered $ 70,785 $ 38,956 $ 41,067 $ 37,722 $ 35,723 $ 27,634 $ 18,809 =========== =========== =========== =========== =========== =========== =========== POTENTIAL PROBLEM LOANS BY TYPE Construction & development $ 75,867 $ 111,032 $ 111,204 $ 94,765 $ 111,401 $ 101,455 $ 132,546 Commercial real estate 162,692 140,079 85,833 101,629 97,694 107,538 111,989 Commercial 37,027 38,850 19,940 36,142 27,119 32,843 30,582 One-to-four family residential 1,108 1,210 429 589 608 354 764 Consumer -- -- -- 15 22 27 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem loans - noncovered $ 276,694 $ 291,171 $ 217,406 $ 233,140 $ 236,844 $ 242,217 $ 275,912 =========== =========== =========== =========== =========== =========== =========== POTENTIAL PROBLEM LOANS BY SEGMENT Oklahoma banking $ 54,310 $ 42,565 $ 30,678 $ 36,170 $ 58,230 $ 47,686 $ 47,147 Texas banking 163,973 183,486 114,506 144,357 116,049 145,684 168,717 Kansas banking 14,530 11,289 19,472 20,232 19,737 1,754 5,175 Out of market 43,881 53,831 52,750 32,381 42,828 47,093 54,873 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem loans - noncovered $ 276,694 $ 291,171 $ 217,406 $ 233,140 $ 236,844 $ 242,217 $ 275,912 =========== =========== =========== =========== =========== =========== =========== Continued SOUTHWEST BANCORP, INC. Table 6 UNAUDITED QUARTERLY SUMMARY LOAN DATA Continued (Dollars in thousands, except per share) ----------------------------------------------------------------------------------------- 2011 2010 ------------------------------------- -------------------------------------------------- Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- OUT OF MARKET LOANS Net balance out of market loans: --------------------------- Arizona $ 35,978 $ 49,977 $ 57,657 $ 65,615 $ 68,887 $ 65,770 $ 66,428 Iowa 26,626 26,695 26,759 26,836 28,953 25,035 25,108 Colorado 23,234 24,187 28,422 28,619 30,160 31,509 32,793 New Mexico 21,019 21,092 28,226 28,710 29,188 29,514 29,732 California 10,737 9,814 9,984 9,906 10,169 10,554 10,560 Ohio 9,367 9,568 9,963 10,420 10,666 10,786 10,293 Tennessee 6,484 6,550 6,606 6,784 6,837 6,898 6,967 Florida 6,374 10,582 7,600 7,627 7,622 7,531 7,635 Louisiana 5,644 5,963 8,018 8,651 9,223 9,788 10,354 Alabama 4,306 4,443 4,479 4,520 5,027 5,065 5,100 Other (24 states included) 17,041 27,624 38,669 43,353 41,921 56,515 55,359 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total out of market loans $ 166,810 $ 196,495 $ 226,383 $ 241,041 $ 248,653 $ 258,965 $ 260,329 =========== =========== =========== =========== =========== =========== =========== Nonperforming out of market loans: --------------------------- Arizona $ 8,441 $ 16,745 $ 10,316 $ 17,061 $ 19,145 $ 19,576 $ 11,834 Colorado 746 4,909 880 1,235 1,239 1,255 521 New Mexico 5,135 5,135 11,827 11,827 11,827 11,827 11,827 Tennessee -- -- -- 30 32 33 35 Florida 305 1,479 1,479 1,479 1,479 1,486 1,486 Alabama -- 157 172 192 192 195 195 Other (24 states included) -- 2,709 2,300 3,179 3,103 4,325 7,420 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming out of market loans $ 14,627 $ 31,134 $ 26,974 $ 35,003 $ 37,017 $ 38,697 $ 33,318 =========== =========== =========== =========== =========== =========== =========== Potential problem out of market loans: --------------------------- Arizona $ 10,287 $ 14,865 $ 25,242 $ 14,986 $ 15,608 $ 10,648 $ 18,428 Iowa -- -- -- -- -- 9,100 9,100 Colorado 17,034 13,500 17,933 17,395 17,395 17,395 17,395 New Mexico 11,589 11,635 -- -- -- -- -- California 593 9,423 9,575 -- 9,825 9,950 9,950 Florida 108 116 -- -- -- -- -- Alabama 4,270 4,292 -- -- -- -- -- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total potential problem out of market loans $ 43,881 $ 53,831 $ 52,750 $ 32,381 $ 42,828 $ 47,093 $ 54,873 =========== =========== =========== =========== =========== =========== =========== ALLOWANCE ACTIVITY Balance, beginning of period $ 54,575 $ 61,285 $ 65,229 $ 72,418 $ 67,055 $ 65,168 $ 62,413 Charge offs 16,067 27,562 13,392 14,720 7,006 6,168 6,545 Recoveries 1,564 712 398 266 381 279 769 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Net charge offs 14,503 26,850 12,994 14,454 6,625 5,889 5,776 Provision for loan losses 24,626 20,140 9,050 7,265 11,988 7,776 8,531 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Balance, end of period $ 64,698 $ 54,575 $ 61,285 $ 65,229 $ 72,418 $ 67,055 $ 65,168 =========== =========== =========== =========== =========== =========== =========== NET CHARGE OFFS BY TYPE Construction & development $ 7,177 $ 10,847 $ 1,012 $ 11,613 $ 1,641 $ 4,126 $ 2,920 Commercial real estate 5,702 7,593 7,290 1,351 1,582 515 919 Commercial 1,469 7,999 4,337 1,214 1,318 1,081 1,148 One-to-four family residential 55 165 58 149 1,589 119 558 Consumer 100 246 297 127 495 48 231 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total net charge offs by type $ 14,503 $ 26,850 $ 12,994 $ 14,454 $ 6,625 $ 5,889 $ 5,776 =========== =========== =========== =========== =========== =========== =========== NET CHARGE OFFS BY SEGMENT Oklahoma banking $ 1,058 $ 1,442 $ 1,593 $ 1,616 $ 1,960 $ 371 $ 1,815 Texas banking 7,386 9,163 4,502 10,485 2,219 4,726 3,734 Kansas banking 361 1,791 372 64 823 482 1,077 Out of market 5,698 14,454 6,527 2,289 1,623 310 (850) ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total net charge offs by segment $ 14,503 $ 26,850 $ 12,994 $ 14,454 $ 6,625 $ 5,889 $ 5,776 =========== =========== =========== =========== =========== =========== =========== SOUTHWEST BANCORP, INC. Table 7 UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA (Dollars in thousands, except per share) ----------------------------------------------------------------------------------------- 2011 2010 ------------------------------------- -------------------------------------------------- Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- NET INCOME (LOSS) BY SEGMENT Oklahoma banking $ 7 $ 5,290 $ 3,435 $ 4,205 $ 3,399 $ 4,387 $ 2,857 Texas banking (6,455) 1,575 1,079 4,001 (1,801) 757 1,685 Kansas banking (612) 971 131 293 (306) 940 (322) Out of market (1,947) (9,039) (924) (3,674) 494 (477) 1,750 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Subtotal (9,007) (1,203) 3,721 4,825 1,786 5,607 5,970 Secondary market 90 127 (13) 444 173 83 310 Other operations (608) (1,894) (1,247) (961) 1,914 (1,279) (1,908) ----------- ----------- ----------- ----------- ----------- ----------- ----------- Net income (loss) $ (9,525) $ (2,970) $ 2,461 $ 4,308 $ 3,873 $ 4,411 $ 4,372 =========== =========== =========== =========== =========== =========== =========== PER SHARE DATA Basic earnings per common share $ (0.54) $ (0.21) $ 0.07 $ 0.17 $ 0.15 $ 0.19 $ 0.23 Diluted earnings per common share (0.54) (0.21) 0.07 0.17 0.15 0.19 0.23 Book value per common share 15.37 15.89 16.02 15.97 15.93 15.88 16.79 Tangible book value per share* 15.02 15.54 15.67 15.62 15.58 15.53 16.33 COMMON STOCK Shares issued and outstanding 19,441,577 19,439,167 19,438,290 19,421,900 19,395,675 19,388,797 14,779,711 OTHER FINANCIAL DATA Investment securities $ 269,599 $ 268,153 $ 258,436 $ 262,525 $ 240,844 $ 247,108 $ 241,693 Loans held for sale 39,902 37,204 37,348 35,194 34,868 25,615 25,586 Noncovered portfolio loans 1,993,694 2,156,096 2,241,080 2,331,293 2,412,796 2,475,348 2,516,397 Total noncovered loans 2,033,596 2,193,300 2,278,428 2,366,487 2,447,664 2,500,963 2,541,983 Covered portfolio loans 41,209 46,153 49,117 53,628 60,558 68,006 76,909 Total assets 2,572,492 2,660,495 2,779,028 2,820,541 2,905,275 3,010,835 3,074,923 Total deposits 2,022,253 2,094,236 2,218,571 2,252,728 2,345,648 2,444,939 2,554,165 Other borrowings 86,583 96,682 85,332 94,602 82,506 93,036 103,620 Subordinated debentures 81,963 81,963 81,963 81,963 81,963 81,963 81,963 Total shareholders' equity 367,024 376,930 379,350 377,812 376,576 375,319 315,341 Mortgage servicing portfolio 285,886 283,083 281,271 278,146 261,266 249,632 241,224 INTANGIBLE ASSET DATA Goodwill $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 Core deposit intangible 3,155 3,285 3,420 3,557 3,693 3,830 3,967 Mortgage servicing rights 1,808 1,781 1,718 1,810 1,661 1,589 1,603 Nonmortgage servicing rights 3 3 3 4 4 5 5 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total intangible assets $ 11,777 $ 11,880 $ 11,952 $ 12,182 $ 12,169 $ 12,235 $ 12,386 =========== =========== =========== =========== =========== =========== =========== Intangible amortization expense $ 226 $ 222 $ 361 $ 402 $ 392 $ 350 $ 359 ----------- ----------- ----------- ----------- ----------- ----------- ----------- DEPOSIT COMPOSITION Non-interest bearing demand $ 388,365 $ 389,027 $ 369,013 $ 377,182 $ 329,655 $ 326,721 $ 317,896 Interest-bearing demand 98,270 124,346 112,731 92,584 86,153 102,218 119,757 Money market accounts 461,546 465,269 486,770 495,253 518,422 510,549 506,659 Savings accounts 31,319 29,586 28,440 26,665 25,556 25,321 25,871 Time deposits of $100,000 or more 551,914 570,116 669,817 694,565 795,303 861,110 944,871 Other time deposits 490,839 515,892 551,800 566,479 590,559 619,020 639,111 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total deposits** $ 2,022,253 $ 2,094,236 $ 2,218,571 $ 2,252,728 $ 2,345,648 $ 2,444,939 $ 2,554,165 =========== =========== =========== =========== =========== =========== =========== OFFICES AND EMPLOYEES FTE Employees 437 437 424 432 440 447 455 Branches 23 23 23 23 23 23 24 Loan production offices 2 2 2 2 2 2 2 Assets per employee $ 5,887 $ 6,088 $ 6,554 $ 6,529 $ 6,603 $ 6,736 $ 6,758 --------------------------- *This is a Non-GAAP based financial measure. **Calculation of Non-brokered Deposits and Core Funding (Non-GAAP Financial Measures) Total deposits $ 2,022,253 $ 2,094,236 $ 2,218,571 $ 2,252,728 $ 2,345,648 $ 2,444,939 $ 2,554,165 Less: Brokered time deposits 46,838 52,407 122,124 145,240 226,238 279,027 359,571 Other brokered deposits 105,483 105,392 112,033 117,532 129,096 126,643 124,969 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Non-brokered deposits $ 1,869,932 $ 1,936,437 $ 1,984,414 $ 1,989,956 $ 1,990,314 $ 2,039,269 $ 2,069,625 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Plus: Sweep repurchase agreements 40,305 30,636 27,214 26,492 22,211 22,700 33,192 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Core funding $ 1,910,237 $ 1,967,073 $ 2,011,628 $ 2,016,448 $ 2,012,525 $ 2,061,969 $ 2,102,817 =========== =========== =========== =========== =========== =========== =========== Balance sheet amounts are as of period end unless otherwise noted. SOUTHWEST BANCORP, INC. Table 8 UNAUDITED QUARTERLY SUPPLEMENTAL ANALYTICAL DATA (Dollars in thousands, except per share) ----------------------------------------------------------------------------------------- 2011 2010 ------------------------------------- -------------------------------------------------- Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 ----------- ----------- ----------- ----------- ----------- ----------- ----------- PERFORMANCE RATIOS Return on average assets (annualized) (1.43)% (0.43)% 0.35% 0.59% 0.52% 0.58% 0.57% Return on average common equity (annualized) (13.42) (5.11) 1.81 4.11 3.57 4.64 5.42 Return on average tangible common equity (annualized)* (13.72) (5.22) 1.85 4.21 3.65 4.75 5.58 Net interest margin (annualized) 3.77 3.79 3.78 3.82 3.63 3.65 3.59 Total dividends declared to net income (9.24) (29.46) 35.56 20.31 22.59 19.84 20.02 Effective tax rate 35.23 54.53 38.40 38.31 28.02 38.29 39.19 Efficiency ratio 64.07 52.40 54.50 54.13 47.02 51.97 49.25 NONPERFORMING ASSETS Noncovered: --------------------------- Nonaccrual loans $ 132,268 $ 151,135 $ 134,934 $ 106,566 $ 135,209 $ 111,871 $ 97,858 90 days past due and accruing 458 43 529 517 452 333 4 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans 132,726 151,178 135,463 107,083 135,661 112,204 97,862 Other real estate 70,785 38,956 41,067 37,722 35,723 27,634 18,809 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming assets $ 203,511 $ 190,134 $ 176,530 $ 144,805 $ 171,384 $ 139,838 $ 116,671 =========== =========== =========== =========== =========== =========== =========== Performing restructured $ 1,026 $ 3,191 $ 2,166 $ 2,177 $ 5,334 $ 5,525 $ 5,650 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Potential problem loans $ 276,694 $ 291,171 $ 217,406 $ 233,140 $ 236,844 $ 242,217 $ 275,912 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Covered: --------------------------- Nonaccrual loans $ 7,065 $ 9,800 $ 9,809 $ 10,806 $ 7,906 $ 14,504 $ 16,192 90 days past due and accruing 610 -- -- -- 1,871 130 356 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming loans 7,675 9,800 9,809 10,806 9,777 14,634 16,548 Other real estate 5,350 3,806 4,016 4,187 4,448 4,352 4,489 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Total nonperforming assets $ 13,025 $ 13,606 $ 13,825 $ 14,993 $ 14,225 $ 18,986 $ 21,037 =========== =========== =========== =========== =========== =========== =========== Potential problem loans $ 2,015 $ 2,731 $ 3,444 $ 3,495 $ 6,413 $ 6,184 $ 6,620 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ASSET QUALITY RATIOS Net loan charge-offs to average portfolio loans (annualized) 2.70% 4.76% 2.25% 2.35% 1.05% 0.92% 0.90% Noncovered: --------------------------- Nonperforming assets to portfolio loans and other real estate 9.86% 8.66% 7.74% 6.11% 7.00% 5.59% 4.60% Nonperforming loans to portfolio loans 6.66 7.01 6.04 4.59 5.62 4.53 3.89 Allowance for loan losses to portfolio loans 3.25 2.53 2.73 2.80 3.00 2.71 2.59 Allowance for loan losses to nonperforming loans 48.75 36.10 45.24 60.91 53.38 59.76 66.59 Covered: --------------------------- Nonperforming assets to portfolio loans and other real estate 27.98% 27.23% 26.02% 25.93% 21.88% 26.24% 25.84% Nonperforming loans to portfolio loans 18.62 21.23 19.97 20.15 16.14 21.52 21.52 CAPITAL RATIOS Average total shareholders' equity to average assets 14.39% 13.98% 13.57% 13.24% 12.85% 11.78% 10.18% Leverage ratio 16.47 16.25 15.95 15.55 14.96 14.48 12.32 Tier 1 capital to risk-weighted assets 19.54 18.93 18.49 17.78 17.17 16.50 14.00 Total capital to risk-weighted assets 20.81 20.20 19.77 19.06 18.45 17.78 15.28 Tangible common equity to tangible assets*** 11.38 11.38 10.99 10.78 10.43 10.02 7.87 REGULATORY CAPITAL DATA Tier I capital $ 433,628 $ 444,106 $ 447,803 $ 445,966 $ 442,188 $ 438,973 $ 381,280 Total capital 461,929 473,950 478,713 477,930 475,040 472,971 415,955 Total risk adjusted assets 2,219,271 2,346,596 2,421,752 2,507,867 2,574,746 2,659,886 2,722,628 Average total assets 2,633,000 2,733,561 2,807,518 2,867,114 2,955,779 3,032,328 3,094,756 --------------------------- *This is a Non-GAAP based financial measure. ***Calculation of Tangible Capital to Tangible Assets (Non-GAAP Financial Measure) Total shareholders' equity $ 367,024 $ 376,930 $ 379,350 $ 377,812 $ 376,576 $ 375,319 $ 315,341 Less: Goodwill 6,811 6,811 6,811 6,811 6,811 6,811 6,811 Preferred stock 68,268 68,084 67,902 67,724 67,548 67,375 67,205 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Tangible common equity $ 291,945 $ 302,035 $ 304,637 $ 303,277 $ 302,217 $ 301,133 $ 241,325 =========== =========== =========== =========== =========== =========== =========== Total assets $ 2,572,492 $ 2,660,495 $ 2,779,028 $ 2,820,541 $ 2,905,275 $ 3,010,835 $ 3,074,923 Less goodwill 6,811 6,811 6,811 6,811 6,811 6,811 6,811 ----------- ----------- ----------- ----------- ----------- ----------- ----------- Tangible assets $ 2,565,681 $ 2,653,684 $ 2,772,217 $ 2,813,730 $ 2,898,464 $ 3,004,024 $ 3,068,112 =========== =========== =========== =========== =========== =========== =========== Tangible common equity to tangible assets 11.38% 11.38% 10.99% 10.78% 10.43% 10.02% 7.87% Balance sheet amounts and ratios are as of period end unless otherwise noted.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Southwest Bancorp, Inc.

CONTACT: Rick Green
President & CEO
Laura Robertson
EVP & CFO
(405) 372-2230
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Underdog Underdog 12 years ago
Look what A little bad news can do. LOL Is it time to buy yet?
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Kev2128 Kev2128 12 years ago
Yup got pretty good volume today!
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Underdog Underdog 12 years ago
Wow OKSB is trending up pretty nice. Up 10% today alone.
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Underdog Underdog 12 years ago
Good morning.Wow that was A long post. LOL But A real good read.So far today we are up. I like it.
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Kev2128 Kev2128 12 years ago
The last OKSB insider buy occurred when TEUBNER RUSSELL WILLIAM purchased a total of 10,000 shares on September 12, 2011. In the last 4 years insiders have on average purchased 6,354 shares each year.
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Kev2128 Kev2128 12 years ago
Southwest Bancorp Inc. Reports Second Quarter 2011 Results Future Interest and Dividend Deferrals

STILLWATER, Okla., Jul 25, 2011 (GlobeNewswire via COMTEX) -- Southwest Bancorp, Inc. (Nasdaq:OKSB) (Nasdaq:OKSBP), ("Southwest"), today reported a net loss available to common shareholders of $4.0 million, or $0.21 per diluted share for the second quarter of 2011, compared to net income available to common shareholders of $3.4 million, or $0.19 per diluted share for the second quarter of 2010, and $1.4 million, or $0.07 per diluted share for the first quarter of 2011. The net loss available to common shareholders for the six months ended June 30, 2011 was $2.6 million, or $0.13 per diluted share, compared to net income available to common shareholders for the six months ended June 30, 2010 of $6.7 million, or $0.41 per diluted share.
Second Quarter 2011 Results:

Rick Green, Southwest Bancorp's President and Chief Executive Officer, stated, "This was a challenging quarter for Southwest and Stillwater National Bank. We recorded a net loss year-to-date and for the second quarter of 2011, mainly as a result of new appraisals received on collateral dependent commercial real estate loans from states outside of our home markets of Oklahoma, Texas, and Kansas. Those effects were partially offset by our settlement of certain tax matters, described later in this release, as well as our stable net interest margins and expense control.

"We continue to focus on the resolution of problem assets. Nonperforming assets increased to $190.1 million and 8.66% of noncovered portfolio loans and other real estate from $176.5 million and 7.74% of noncovered portfolio loans and other real estate at March 31, 2011 and from $144.8 million and 6.11% of noncovered portfolio loans and other real estate at December 31, 2010. Our noncovered nonperforming assets were up from year-end, primarily due to an increase in nonperforming loans. The dollar amount of other real estate was up from year-end as well; however, the composition has changed as our resolution process continues. In the first six months of 2011 we placed $104.9 million on nonaccrual, but returned $8.4 million to accrual status, charged-off $35.5 million, wrote down $1.7 million on other real estate, transferred $13.3 million from nonperforming loans to other real estate, and received $3.5 million in resolutions and payments on nonperforming loans and $10.8 million from sales of other real estate. At quarter-end our potential problem loans were $291.2 million, up $58.0 million, or 25%, from year-end, and $49.0 million, or 20%, from June 30, 2010. We believe that levels of nonperforming loans and potential problem loans are likely to fluctuate up and down as the process continues.

"Our noncovered loans decreased by $173.2 million, or 7%, from year-end and $307.7 million, or 12%, from June 30, 2010. This decrease allowed us to reduce our commercial real estate mortgage and construction concentration to $1.6 billion, or 75%, of noncovered loans at June 30, 2011. Our healthcare credits at quarter-end totaled $670.6 million, or 31%, of noncovered loans, including $407.3 million of healthcare related commercial real estate mortgage and construction loans. Nonperforming healthcare assets at quarter-end were $20.6 million, or 11%, of total nonperforming assets. Approximately 81% of our nonperforming assets are in the more stable markets of Oklahoma, Texas, and Kansas.

"At June 30, 2011, the allowance for loan losses was 2.53% of noncovered portfolio loans, compared to 2.80% at year-end 2010 and 2.71% at June 30, 2010.

"The economy has not yet recovered, but we continue to be encouraged by the performance of the economies of our principal markets in Oklahoma, Texas, and Kansas and continue to make loans in each of our markets with an emphasis on healthcare lending and carefully controlled real estate collateralized credits.

"Lending and Credit Reorganization. Earlier this year we made significant organizational changes designed to improve our lending and credit functions. We continue to implement those changes. On July 11, following a thorough executive search process, we announced the Board of Directors' appointment of John Danielson as Executive Vice President and Chief Banking Officer, and Priscilla Barnes as Executive Vice President and Chief Credit Officer, each reporting to me.

"As Chief Banking Officer, John is responsible for the lending, deposit, and treasury services of Southwest's banking subsidiaries, Stillwater National Bank and Bank of Kansas, and for their banking offices in Oklahoma, Texas, and Kansas. John previously served as President of SNB-San Antonio, a division of Stillwater National. He has 25 years of banking industry experience. Before joining Southwest in 2006, John served as a regional banking manager for Compass Bank and Bank of America.

"As Chief Credit Officer, Priscilla is responsible for credit functions, including lending policy, credit analysis, credit approvals, risk rating accuracy, training, and workouts. She formerly served as interim Chief Credit Officer. Priscilla has over 31 years of banking industry experience and is a former Federal Reserve Bank examiner. She has been with Southwest since 2005.

"Regulatory Capital. As of June 30, 2011, Southwest exceeded all applicable regulatory capital requirements. Southwest and each of its banking subsidiaries met the criteria for regulatory classification as "well-capitalized". Southwest's total regulatory capital was $474.0 million, for a total risk-based capital ratio of 20.20%, and Tier 1 capital was $444.1 million, for a Tier 1 risk-based capital ratio of 18.93%. Southwest's capital exceeded the minimum to be classified as "well-capitalized" by $239.3 million. Stillwater National Bank, Southwest's principal banking subsidiary, had total regulatory capital of $393.8 million, for a total risk-based capital ratio of 18.50%, and Tier 1 capital of $351.8 million, for a Tier 1 risk-based capital ratio of 16.53%. Stillwater National Bank exceeded the minimum to be classified as "well-capitalized" by $127.7 million. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators. Stillwater National Bank's leverage and total risk-based capital ratios also substantially exceeded the individual minimum ratios agreed to with the Comptroller of the Currency of 8.50% and 12.50%.

"Increased Core Funding Percentage. At June 30, 2011, total core funding, which includes all non-brokered time deposits and sweep repurchase agreements, comprised 90% of total funding, compared to 87% at March 31, 2011 and 86% at December 31, 2010. Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 10% of total funding compared to 13% at March 31, 2011 and 14% at December 31, 2010. Please see Table 6 for details on these non-GAAP financial measures.

"Future Interest and Dividend Deferrals. In July, we determined to defer future payments of interest on our debentures and dividends on related trust preferred securities and to defer payments of dividends on our Series A Preferred Securities issued under the U.S. Treasury Department's Capital Purchase Program. The terms of our debentures and trust preferred securities allow us to increase or decrease the deferral period without default or penalty. However, we plan to resume payments of dividends and debenture interest as soon as we achieve sufficient improvement in earnings and asset quality levels. We have taken important steps to help us achieve those goals. For further information, please see "Subsequent Event-Deferral of Interest and Dividend Payments" later in this release.

Please review the following discussion and the attached financial tables for important additional information regarding our financial condition and performance."

Financial Overview


Condition: Total assets were $2.7 billion and total loans were $2.2 billion at June 30, 2011, a decrease of 6% and 7%, respectively, from December 31, 2010.
At June 30, 2011 the allowance for loan losses was $54.6 million, a decrease of 19% and 16% from June 30, 2010 and December 31, 2010, respectively, and represented 2.53% of noncovered portfolio loans versus 2.71% and 2.80% at June 30, 2010 and December 31, 2010, respectively. The methodology used to determine the appropriate amount of the allowance for loan losses at a particular time includes consideration of risk factors related to Southwest and to our markets including regular assessments of national and local economic conditions and trends. Provisions for loan losses are recorded in the amount necessary to maintain the allowance at the level management deems appropriate.

Excluding assets subject to loss sharing agreements with the FDIC ("covered assets"), nonperforming assets, consisting of nonaccrual loans, loans past due by 90 days or more and still accruing, and other real estate, were $190.1 million and 8.66% of noncovered portfolio loans and other real estate as of June 30, 2011, up $45.3 million from December 31, 2010. A breakdown of noncovered portfolio loans and noncovered nonperforming assets at June 30, 2011 by type is shown in the following table:

Noncovered Noncovered Percentage of
total
portfolio nonperforming noncovered

nonperforming
(dollars in thousands) loans assets assets
------------ ------------- -------------
Real estate construction $ 384,924 $ 73,486 38.65%
Commercial real estate 1,249,560 60,858 32.01
Commercial 404,081 15,224 8.00
Residential real estate
mortgages 83,196 1,457 0.77
Other consumer loans 34,335 153 0.08

Other real estate -- 38,956 20.49
------------ ------------- -------------

Total $ 2,156,096 $ 190,134 100.00%
============ ============= =============

Excluding covered loans, nonaccrual loans were $151.1 million as of June 30, 2011, an increase of $44.6 million, or 42%, from December 31, 2010, and an increase of $39.3 million, or 35%, from June 30, 2010. These loans are carried at their estimated collectible amounts and no longer accrue interest. Noncovered loans 90 days or more past due were less than $0.1 million as of June 30, 2011. These loans are deemed to have sufficient collateral and are in the process of collection.
Impaired loans, which include nonaccrual and restructured loans, are evaluated on an individual basis using the discounted present value of expected cash flows, the fair value of collateral, or the market value of the loan, and a specific allowance is recorded to reflect the appropriate net realizable value. Collateral dependent loans are evaluated for impairment based upon the fair value of the collateral. Charge-offs against the allowance for impaired loans are made when and to the extent amounts are deemed uncollectible. Independent appraisals on real estate collateral securing loans are obtained at origination. New appraisals are obtained periodically and following discovery of factors that may significantly affect the value of the collateral. Appraisals typically are received within 30 days of request. Results of appraisals on nonperforming and potential problem loans are reviewed promptly upon receipt and considered in the determination of the allowance for loan losses. Southwest is not aware of any significant time lapses in the process that have resulted, or would result in, a significant delay in determination of a credit weakness, the identification of a loan as nonperforming, or the measure of an impairment.

Performing loans that have been restructured to provide a reduction or deferral of interest or principal due to a weakening in the financial position of the borrower were $3.2 million and $2.2 million at June 30, 2011 and December 31, 2010, respectively.

Excluding covered loans, performing loans considered potential problem loans, which are not included in the past due or nonaccrual categories but for which known information about possible credit problems cause management to be uncertain as to the continued ability of the borrowers to comply with the present loan repayment terms in future periods, amounted to $291.2 million at June 30, 2011, an increase of $58.0 million from December 31, 2010 and $49.0 million from June 30, 2010. Potential problem loans are subject to continuing management attention and are considered by management in determining the level of the allowance for loan losses.

Year-to-date Results:

Summary: The net loss available to common shareholders was $2.6 million as of June 30, 2011, compared to net income available to common shareholders of $6.7 million as of June 30, 2010. The $9.3 million decrease in our net income available to common shareholders from 2010 is the result of a $12.9 million increase in the provision for loan losses, a $3.5 million decrease in net interest income, and a $1.3 million decrease in noninterest income, offset in part by a $7.6 million decrease in income tax expense and a $0.8 million decrease in noninterest expense.

On June 28, 2011, Southwest entered into a settlement agreement with the Oklahoma State Tax Commission (the "Commission") with respect to certain claims by the Commission. Southwest had previously recorded reserves against these claims. As a result of the settlement agreement, Southwest paid the sum of $4.8 million to the Commission and recorded a gain of $2.6 million, net of tax effect, upon reversal of excess reserves. The year-to-date calculated effective tax rate is 79.93%; however, when the effect of the reversal of the excess tax reserves in the second quarter is excluded, the effective tax rate year-to-date is 43.60%.

Net Interest Income: Net interest income totaled $50.4 million for the first six months of 2011, compared to $53.9 million for the first six months of 2010, a decrease of $3.5 million, or 6%. Year-to-date net interest margin was 3.78%, compared to 3.62% in 2010. Included in 2011 year-to-date net interest income was a net reduction of $0.1 million resulting from interest reversals on nonaccrual loans offset by the year-to-date adjustments of the discount accretion on loans and the loss share receivable. Included in 2010 year-to-date net interest income was $0.8 million of net recoveries from the resolution of nonperforming loans, additional discount accretion on loans and loss share receivable, offset in part by interest reversals on nonaccrual loans. The net effects of these adjustments on net interest margin were a 1 basis point decrease and a 5 basis point increase, respectively.

Provision for Loan Losses and Net Charge Offs: The provision for loan losses totaled $29.2 million for the first six months of 2011, compared to $16.3 million for the first six months of 2010. Net charge-offs totaled $39.8 million, or 3.49% (annualized) of average portfolio loans year-to-date as of June 30, 2011, compared to $11.7 million, or 0.91% (annualized) of average portfolio loans for the same period in the prior year.

A significant reason for the increase in the year-to-date provision was an unanticipated decline in collateral value of collateral dependent commercial real estate loans in markets other than our primary markets of Oklahoma, Texas, and Kansas. As of June 30, 2011, eleven relationships accounted for $32.5 million in charge-offs, of which $20.6 million were on four out of market relationships. At June 30, 2011, total out of market commercial real estate and construction loans was $158.4 million, of which $75.9 million were internally rated substandard or doubtful.

Noninterest Income: Noninterest income totaled $6.9 million for the first six months of 2011, compared to $8.1 million for the first six months of 2010. The decrease in noninterest income was primarily the result of a $0.8 million decline in gain on sale of loans, mainly from declined student loan sales, and a $0.3 million decline in other noninterest income.

Noninterest Expense: Noninterest expense totaled $30.6 million for the first six months of 2011, compared to $31.4 million for the first six months of 2010. The decrease consists of a $2.4 million decrease in other general and administrative expense, primarily from the settlement of Oklahoma state tax claims for less than the amount accrued, a $0.9 million decrease in FDIC and other insurance expense, and a $0.7 million decrease in personnel expense, primarily as a result of a decrease in the profit sharing contribution, offset in part by a $2.3 million increase in other real estate expense and a $1.1 million increase in provision for unfunded loan commitments.

Second Quarter Results:

Summary: For the second quarter of 2011, Southwest incurred a net loss available to common shareholders of $4.0 million, compared to net income available to common shareholders of $3.4 million in the second quarter of 2010 and $1.4 million in the first quarter of 2011. The decrease from the second quarter of 2010 was the result of a $12.4 million increase in the provision for loan losses, a $2.1 million decrease in net interest income, and a $0.4 million decrease in noninterest income, offset in part by a $6.3 million decrease in income taxes and a $1.2 million decrease in noninterest expense. The decrease from the first quarter of 2011 was the result of an $11.1 million increase in the provision for loan losses and a $0.4 million decrease in net interest income, offset in part by a $5.1 million decrease in income taxes, a $0.6 million decrease in noninterest expense, and a $0.4 million increase in noninterest income.

For the second quarter of 2011, the calculated effective tax rate is 54.53%; however, when the reversal of the excess tax reserves is excluded, the effective tax rate for the second quarter is 41.46%.

Net Interest Income: Net interest income totaled $25.0 million for the second quarter of 2011, compared to $27.1 million for the second quarter of 2010, a decrease of $2.1 million, or 8%, and $25.4 million for the first quarter of 2011, a decrease of $0.4 million, or 2%. Net interest margin was 3.79% for the second quarter of 2011, compared to 3.65% for the second quarter of 2010 and 3.78% for the first quarter of 2011. Included in the second quarter of 2011 net interest margin was a net reduction of $0.2 million resulting from interest reversal on nonaccrual loans offset by the quarterly adjustment of the discount accretion on loans and the loss share receivable. Included in the second quarter 2010 net interest margin was a net recovery of $0.5 million from the quarterly adjustment of the discount accretion on loans and loss share receivable. Included in the first quarter of 2011 net interest margin was a net recovery of $0.1 million from the quarterly adjustment of the discount accretion on loans and the loss share receivable offset by interest reversals on nonaccrual loans. The net effects of these adjustments on net interest margin were a 3 basis point decrease, a 6 basis point increase, and a 1 basis point increase for each quarter, respectively.

Provision for Loan Losses and Net Charge-Offs: The provision for loan losses totaled $20.1 million for the second quarter of 2011, compared to $7.8 million for the second quarter of 2010 and $9.1 million for the first quarter of 2011. Net charge-offs totaled $26.9 million, or 4.76% (annualized) of average portfolio loans for the second quarter of 2011, compared to $5.9 million, or 0.92% (annualized) of average portfolio loans for the second quarter of 2010 and $13.0 million, or 2.25% (annualized) of average portfolio loans for the first quarter of 2011.

A significant reason for the increased provision for the second quarter was an unanticipated decline in collateral value of collateral dependent commercial real estate loans in markets other than our primary markets of Oklahoma, Texas, and Kansas. For the second quarter of 2011, eight relationships accounted for $23.0 million in charge-offs, of which $13.6 million were on three out of market relationships.

Noninterest Income: Noninterest income totaled $3.6 million for the second quarter of 2011, compared to $4.0 million for the second quarter of 2010 and $3.2 million for the first quarter of 2011. The decrease in noninterest income from the second quarter of 2010 was primarily the result of a $0.4 million decrease in other noninterest income. The increase from the first quarter of 2011 was primarily the result of a $0.4 million increase in service charges and fees.

Noninterest Expense: Noninterest expense totaled $15.0 million for the second quarter of 2011, compared to $16.1 million for the second quarter of 2010 and $15.6 million for the first quarter of 2011. The decrease from second quarter 2010 consisted of a $2.4 million decrease in other general and administrative expense, primarily from the settlement of Oklahoma state tax claims for less than the amount accrued, a $0.7 million decrease in personnel expense, primarily as a result of a decrease in the profit sharing contribution, and a $0.6 million decrease in FDIC and other insurance expense, offset in part by a $2.0 million increase in other real estate expense and a $0.6 million increase in provision for unfunded loan commitments. The decrease from first quarter 2011 consisted of a $2.0 million decrease in other general and administrative expense, a $0.5 million decrease in personnel expense, and a $0.3 million decrease in FDIC and other insurance expense, offset in part by a $2.2 million increase in other real estate expense.

Southwest Bancorp and Subsidiaries


Southwest is the bank holding company for Stillwater National Bank and Trust Company ("Stillwater National") and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker(R). We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At June 30, 2011 we had total assets of $2.7 billion, deposits of $2.1 billion, and shareholders' equity of $376.9 million.
Our area of expertise focuses on the special financial needs of healthcare and health professionals, businesses and their managers and owners, and commercial and commercial real estate borrowers. We established a strategic focus on healthcare lending in 1974. We provide credit and other services, such as deposits, cash management, and document imaging for physicians and other healthcare practitioners to start or develop their practices and finance the development and purchase of medical offices, clinics, surgical care centers, hospitals, and similar facilities. As of June 30, 2011, approximately $670.6 million, or 31%, of our noncovered loans were loans to individuals and businesses in the healthcare industry.

We also focus on commercial real estate mortgage and construction credits. We do not focus on one-to-four family residential development loans or "spec" residential property credits. Additionally, subprime residential lending has never been a part of our business strategy, and our exposure to subprime mortgage loans and subprime lenders is minimal. One-to-four family mortgages account for less than 5% of total noncovered loans. As of June 30, 2011 approximately $1.6 billion, or 75%, of our noncovered loans were commercial real estate mortgage and construction loans, including $407.3 million of loans to individuals and businesses in the healthcare industry.

We operate six offices in Texas, eleven offices in Oklahoma, and eight offices in Kansas. At June 30, 2011 our Texas segment accounted for $911.1 million, or 41% of total portfolio loans, followed by $834.2 million, or 38%, from our Oklahoma segment, $260.4 million, or 12%, from our Kansas segment, and $196.5 million, or 9%, from our other states segment.

Southwest's common stock is traded on the NASDAQ Global Select Market under the symbol OKSB. Southwest's public trust preferred securities are traded on the NASDAQ Global Select Market under the symbol OKSBP.

The Southwest Bancorp, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8074

Subsequent Event-Deferral of Interest and Dividend Payments


In July 2011, Southwest Bancorp, Inc. ("Southwest") determined to suspend payments of interest on its three issues of outstanding debentures effective August 1, 2011, and dividends on the related trust preferred securities.
The terms of the debentures allow Southwest to defer payments of interest for up to 20 consecutive quarterly periods without default or penalty. These terms also allow Southwest to resume payments at the end of any deferral period, or to extend the deferral up to the maximum 20 quarters in total. No deferral can extend past the maturity date of the debenture.

We plan to resume payments of dividends and debenture interest as soon as we achieve sufficient improvement in earnings and asset quality levels. We are taking important steps to help us achieve those goals. These included:

-- Capital Levels. Capital levels for Southwest and each of its bank
subsidiaries well exceed all applicable capital standards. We increased
and maintained our capital ratios by (a) sale of capital securities,
including public securities offerings in mid-2008 and 2010, and the sale
of preferred securities to the Treasury Department in late 2008, (b) net
quarterly earnings, and (c) intentional reduction of our loan portfolio.


-- Earnings. We had a net loss this quarter and year-to-date, but this
follows a long-record of successive quarterly earnings. Our interest
margins and net interest income are solid, and we remain one of the most
efficient banking organizations in terms of operating expense control.


-- Asset Quality. Our problem assets and potential problem assets are too
high. The keys to improvement in our net income are improvement in asset
quality and reduction in loan loss provision expense. To that end this
year we have (a) substantially reorganized our lending and credit
functions to increase their independence and improve oversight; (b)
installed a new Chief Credit Officer in the second quarter reporting
directly to the CEO with authority over the entire credit and work-out
functions; (c) began staffing up credit and work-out areas with
experienced bankers; (d) increased our emphasis on timely and accurate
loan grading and consistency among our third party loan review firm, our
internal credit function, and federal regulators' grading guidelines;
and (e) begun a special review of larger problem credits.


Interest will continue to accrue on the debentures, and dividends will continue to accrue on the related trust preferred securities while we work toward resuming payments.
Southwest's trust preferred securities were issued by the following subsidiary trusts: Southwest Capital Trust II, which trades on the NASDAQ Global Select Market under the symbol "OKSBP"; OKSB Statutory Trust I; and SBI Capital Trust II. At June 30, 2011, $82.0 million of debentures were outstanding.

In addition, Southwest has determined to defer payment of dividends on its Series A Preferred Securities issued under the U.S. Treasury Department's Capital Purchase Program, effective for the next dividend payment, due August 15, 2011. Dividends on the Preferred Securities may not be paid while interest on Southwest's debentures has been deferred, but will continue to accrue. At June 30, 2011, $70.0 million of Preferred Securities were outstanding.

The deferrals on interest and dividends are intended to preserve liquidity at the holding company level, which may be used to inject funds in its bank subsidiaries or for other corporate purposes. Because the interest on the debentures, the dividends on the related trust preferred securities, and the dividends on the Preferred Securities will continue to accrue, these deferrals are not expected to have any significant effect on the net income or net income available to common shareholders of Southwest. During the year ended December 31, 2010, total interest expense on the debentures, which is deductible for income tax purposes, totaled $5.1 million, and dividends on the Preferred Securities, which are not deductible for income tax purposes, totaled $3.5 million.

Forward-Looking Statements


This earnings release includes forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include: statements of Southwest's goals, intentions, and expectations; estimates of risks and of future costs and benefits; expectations regarding future financial performance of Southwest and its operating segments; assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs; liquidity, contractual obligations, off-balance sheet risk, and interest rate risk; estimates of value of acquired assets, deposits, and other liabilities; and statements of Southwest's ability to achieve financial and other goals. These forward-looking statements are subject to significant uncertainties, because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws and regulations and accounting principles; and a variety of other matters. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest's past growth and performance do not necessarily indicate our future results.
Southwest is required under generally accepted accounting principles to evaluate subsequent events and their impact, if any, on its financial statements as of June 30, 2011 through the date its financial statements are filed with the Securities and Exchange Commission. The June 30, 2011 financial statements included in this release will be adjusted if necessary to properly reflect the impact of subsequent events on estimates used to prepare those statements.


Financial Tables
Unaudited Financial Highlights Table 1
Unaudited Consolidated Statements of Financial
Condition Table 2
Unaudited Consolidated Statements of Operations Table 3
Unaudited Average Balances, Yields, and
Rates-Quarterly Table 4
Unaudited Average Balances, Yields, and
Rates-Year-to-Date Table 5
Unaudited Quarterly Summary Financial Data Table 6
Unaudited Quarterly Supplemental Analytical Data Table 7


SOUTHWEST BANCORP, INC. Table 1
UNAUDITED FINANCIAL HIGHLIGHTS
(Dollars in thousands, except
per share)

Second Quarter First Quarter
-------------------------------- ------------------------------ ---------------------
QUARTERLY HIGHLIGHTS % %

2011 2010 Change 2011 Change
---------- ---------- ------ ---------- ---------
Operations
Net interest income $ 24,985 $ 27,108 (8)% $ 25,421 (2)%
Provision for loan losses 20,140 7,776 159 9,050 123
Noninterest income 3,604 3,962 (9) 3,249 11
Noninterest expense 14,980 16,146 (7) 15,625 (4)
Income (loss) before taxes (6,531) 7,148 (191) 3,995 (263)
Taxes on income (3,561) 2,737 (230) 1,534 (332)
Net income (loss) (2,970) 4,411 (167) 2,461 (221)
Net income (loss) available to
common shareholders (4,027) 3,366 (220) 1,408 (386)
Diluted earnings per share (0.21) 0.19 (211) 0.07 (400)
Balance Sheet
Total assets 2,660,495 3,010,835 (12) 2,779,028 (4)
Loans held for sale 37,204 25,615 45 37,348 (0)
Noncovered portfolio loans 2,156,096 2,475,348 (13) 2,241,080 (4)
Covered portfolio loans 46,153 68,006 (32) 49,117 (6)
Total deposits 2,094,236 2,444,939 (14) 2,218,571 (6)
Total shareholders' equity 376,930 375,319 -- 379,350 (1)
Book value per common share 15.89 15.88 -- 16.02 (1)
Key Ratios
Net interest margin 3.79% 3.65% 3.78%
Efficiency ratio 52.40 51.97 54.50
Total capital to risk-weighted
assets 20.20 17.78 19.77
Nonperforming loans to
portfolio loans - noncovered 7.01 4.53 6.04
Shareholders' equity to total
assets 14.17 12.47 13.65
Tangible common equity to
tangible assets* 11.38 10.02 10.99
Return on average assets
(annualized) (0.43) 0.58 0.35
Return on average common equity
(annualized) (5.11) 4.64 1.81
Return on average tangible
common equity (annualized)** (5.22) 4.75 1.85


---------------------------------------------------------------------------------------

YEAR-TO-DATE HIGHLIGHTS Six Months
------------------------------
%

2011 2010 Change
---------- ---------- ------
Operations
Net interest income $ 50,406 $ 53,909 (6)%
Provision for loan losses 29,190 16,307 79
Noninterest income 6,853 8,140 (16)
Noninterest expense 30,605 31,404 (3)
Income (loss) before taxes (2,536) 14,338 (118)
Taxes on income (2,027) 5,555 (136)
Net income (loss) (509) 8,783 (106)
Net income (loss) available to
common
shareholders (2,619) 6,695 (139)
Diluted earnings per share (0.13) 0.41 (132)
Balance Sheet
Total assets 2,660,495 3,010,835 (12)
Loans held for sale 37,204 25,615 45
Noncovered portfolio loans 2,156,096 2,475,348 (13)
Covered portfolio loans 46,153 68,006 (32)
Total deposits 2,094,236 2,444,939 (14)
Total shareholders' equity 376,930 375,319 --
Book value per common share 15.89 15.88 --
Key Ratios
Net interest margin 3.78 % 3.62 %
Efficiency ratio (GAAP-based) 53.45 50.61
Total capital to risk-weighted
assets 20.20 17.78
Nonperforming loans to
portfolio loans - noncovered 7.01 4.53
Shareholders' equity to total
assets 14.17 12.47
Tangible common equity to
tangible assets* 11.38 10.02
Return on average assets (0.04) 0.58
Return on average common equity (1.67) 5.00
Return on average tangible
common equity** (1.71) 5.13


---------------------------------------------------------------------------------------
Balance sheet amounts and ratios are as of period end unless otherwise noted.
* This is a Non-GAAP financial measure. Please see Table 7 for a reconciliation to the
most directly comparable GAAP based measure.
** This is a Non-GAAP financial measure.

Please see accompanying tables for additional financial information.


SOUTHWEST BANCORP, INC. Table 2
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands, except per share)

December
June 30, 31, June 30,

2011 2010 2010
----------- ----------- -----------
Assets
Cash and due from banks $ 26,368 $ 26,478 $ 23,442

Interest-bearing deposits 41,733 41,018 101,848
----------- ----------- -----------
Cash and cash equivalents 68,101 67,496 125,290
Securities held to maturity
(fair values of $15,461,
$14,029, $6,731, respectively) 15,419 14,304 6,670
Securities available for sale
(amortized cost of $248,004,
$246,649, $232,097,
respectively) 252,734 248,221 240,438
Loans held for sale 37,204 35,194 25,615
Noncovered loans receivable 2,156,096 2,331,293 2,475,348

Less: Allowance for loan losses (54,575) (65,229) (67,055)
----------- ----------- -----------
Net noncovered loans
receivable 2,101,521 2,266,064 2,408,293
Covered loans receivable
(includes loss share: $12,101,
$14,370, and $18,663,
respectively) 46,153 53,628 68,006
----------- ----------- -----------
Net loans receivable 2,147,674 2,319,692 2,476,299
Accrued interest receivable 7,973 8,590 9,589
Income tax receivable 11,393 -- --
Premises and equipment, net 23,158 23,772 25,560
Noncovered other real estate 38,956 37,722 27,634
Covered other real estate 3,806 4,187 4,352
Goodwill 6,811 6,811 6,811
Other intangible assets, net 5,069 5,371 5,424

Other assets 42,197 49,181 57,153
----------- ----------- -----------

Total assets $ 2,660,495 $ 2,820,541 $ 3,010,835
=========== =========== ===========

Liabilities
Deposits:
Noninterest-bearing demand $ 389,027 $ 377,182 $ 326,721
Interest-bearing demand 124,346 92,584 102,218
Money market accounts 465,269 495,253 510,549
Savings accounts 29,586 26,665 25,321
Time deposits of $100,000 or
more 570,116 694,565 861,110

Other time deposits 515,892 566,479 619,020
----------- ----------- -----------
Total deposits 2,094,236 2,252,728 2,444,939
Accrued interest payable 1,574 1,577 2,567
Income tax payable -- 2,878 4,053
Other liabilities 9,110 8,981 8,958
Other borrowings 96,682 94,602 93,036

Subordinated debentures 81,963 81,963 81,963
----------- ----------- -----------
Total liabilities 2,283,565 2,442,729 2,635,516

Shareholders' equity
Serial preferred stock;
2,000,000 shares authorized;
70,000 shares issued and
outstanding 68,084 67,724 67,375
Common stock -- $1 par value;
40,000,000 shares authorized;
19,439,167, 19,421,900,
19,388,797 shares issued and
outstanding, respectively 19,439 19,422 19,389
Additional paid-in capital 99,005 98,894 98,712
Retained earnings 188,174 190,793 184,710
Accumulated other comprehensive
income 2,228 979 5,133
----------- ----------- -----------

Total shareholders' equity 376,930 377,812 375,319
----------- ----------- -----------
Total liabilities and
shareholders' equity $ 2,660,495 $ 2,820,541 $ 3,010,835
=========== =========== ===========


SOUTHWEST BANCORP, INC. Table 3
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share)

For the three
months For the six months

ended June 30, ended June 30,
------------------- --------------------

2011 2010 2011 2010
--------- -------- --------- ---------
Interest income
Loans $ 29,478 $ 33,891 $ 60,017 $ 68,263
Investment securities 1,864 2,175 3,610 4,345

Other interest-earning assets 130 213 270 430
--------- -------- --------- ---------
Total interest income 31,472 36,279 63,897 73,038

Interest expense
Interest-bearing deposits 4,531 7,371 9,664 15,545
Other borrowings 494 524 991 1,041

Subordinated debentures 1,462 1,276 2,836 2,543
--------- -------- --------- ---------

Total interest expense 6,487 9,171 13,491 19,129
--------- -------- --------- ---------

Net interest income 24,985 27,108 50,406 53,909


Provision for loan losses 20,140 7,776 29,190 16,307
--------- -------- --------- ---------

Net interest income after
provision for loan losses 4,845 19,332 21,216 37,602

Noninterest income
Service charges and fees 3,231 3,170 6,109 6,266
Gain on sales of loans 401 416 595 1,401
Gain on investment securities -- 34 -- 41
Other noninterest income
(loss) (28) 342 149 432
--------- -------- --------- ---------
Total noninterest income 3,604 3,962 6,853 8,140

Noninterest expense
Salaries and employee benefits 6,974 7,637 14,489 15,217
Occupancy 2,703 2,836 5,507 5,619
FDIC and other insurance 937 1,521 2,180 3,108
Other real estate, net 2,602 629 3,038 735

General and administrative 1,764 3,523 5,391 6,725
--------- -------- --------- ---------

Total noninterest expense 14,980 16,146 30,605 31,404
--------- -------- --------- ---------
Income (loss) before taxes (6,531) 7,148 (2,536) 14,338

Taxes on income (3,561) 2,737 (2,027) 5,555
--------- -------- --------- ---------

Net income (loss) $ (2,970) $ 4,411 $ (509) $ 8,783
========= ======== ========= =========
Net income (loss) available to
common shareholders $ (4,027) $ 3,366 $ (2,619) $ 6,695
========= ======== ========= =========

Basic earnings per common share $ (0.21) $ 0.19 $ (0.13) $ 0.41
Diluted earnings per common
share (0.21) 0.19 (0.13) 0.41
Common dividends declared per
share -- -- -- --


SOUTHWEST BANCORP, INC. Table 4
UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - QUARTERLY
(Dollars in thousands)


For the three months ended June 30,
--------------------------------------------------------------------

2011 2010
--------------------------------- ---------------------------------
Average Average Average Average

Balance Interest Yield/Rate Balance Interest Yield/Rate
----------- -------- ---------- ----------- -------- ----------
Assets
Noncovered loans $ 2,250,678 $ 28,551 5.14% $ 2,534,565 $ 32,610 5.22%
Covered loans 47,427 927 7.93 72,121 1,281 7.20
Investment securities 266,344 1,864 2.81 239,712 2,175 3.64
Other interest-earning
assets 82,898 130 129,188 213
----------- -------- 0.63 ----------- -------- 0.66
Total interest-earning
assets 2,647,347 31,472 4.77 2,975,586 36,279 4.89

Other assets 99,803 67,454
----------- -----------

Total assets $ 2,747,150 $ 3,043,040
=========== ===========

Liabilities and
Shareholders' Equity
Interest-bearing demand
deposits $ 112,942 $ 103 0.37% $ 107,693 $ 140 0.52%
Money market accounts 490,559 582 0.48 505,863 1,037 0.82
Savings accounts 29,154 10 0.14 25,615 16 0.25

Time deposits 1,165,606 3,836 1,527,074 6,178
----------- -------- 1.32 ----------- -------- 1.62
Total interest-bearing
deposits 1,798,261 4,531 1.01 2,166,245 7,371 1.36
Other borrowings 87,991 494 2.25 97,909 524 2.15

Subordinated debentures 81,963 1,462 81,963 1,276
----------- -------- 7.13 ----------- -------- 6.23
Total interest-bearing
liabilities 1,968,215 6,487 1.32 9,171 1.57
-------- ---------- 2,346,117 -------- ----------

Noninterest-bearing
demand deposits 369,700 321,651
Other liabilities 25,066 16,921

Shareholders' equity 384,169 358,351
----------- -----------
Total liabilities and
shareholders' equity $ 2,747,150 $ 3,043,040
=========== ===========

Net interest income and
spread $ 24,985 3.45% $ 27,108 3.32%
======== ========== ======== ==========

Net interest margin (1) 3.79% 3.65%
========== ==========
Average interest-earning
assets to average
interest-bearing
liabilities 134.50% 126.83%
=========== ===========

(1) Net interest margin = annualized net interest income / average interest-earning assets


SOUTHWEST BANCORP, INC. Table 5
UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES - YEAR-TO-DATE
(Dollars in thousands)


For the six months ended June 30,
--------------------------------------------------------------------

2011 2010
--------------------------------- ---------------------------------
Average Average Average Average

Balance Interest Yield/Rate Balance Interest Yield/Rate
----------- -------- ---------- ----------- -------- ----------
Assets
Noncovered loans $ 2,288,570 $ 58,206 5.16% $ 2,560,937 $ 65,591 5.19%
Covered loans 49,449 1,811 7.43 77,055 2,672 7.03
Investment securities 261,391 3,610 2.79 240,489 4,345 3.64
Other interest-earning
assets 87,770 270 122,319 430
----------- -------- 0.62 ----------- -------- 0.71
Total interest-earning
assets 2,687,180 63,897 4.80 3,000,800 73,038 4.91

Other assets 95,825 73,314
----------- -----------

Total assets $ 2,783,005 $ 3,074,114
=========== ===========

Liabilities and
Shareholders' Equity
Interest-bearing demand
deposits $ 112,693 $ 227 0.41% $ 107,602 $ 272 0.51%
Money market accounts 490,931 1,259 0.52 505,178 2,050 0.82
Savings accounts 28,451 26 0.18 25,622 32 0.25

Time deposits 1,206,650 8,152 1,588,142 13,191
----------- -------- 1.36 ----------- -------- 1.67
Total interest-bearing
deposits 1,838,725 9,664 1.06 2,226,544 15,545 1.41
Other borrowings 89,088 991 2.24 97,604 1,041 2.15

Subordinated debentures 81,963 2,836 81,963 2,543
----------- -------- 6.92 ----------- -------- 6.21
Total interest-bearing
liabilities 2,009,776 13,491 1.35 19,129 1.60
-------- ---------- 2,406,111 -------- ----------

Noninterest-bearing
demand deposits 367,444 312,717
Other liabilities 22,445 17,971

Shareholders' equity 383,340 337,315
----------- -----------
Total liabilities and
shareholders' equity $ 2,783,005 $ 3,074,114
=========== ===========

Net interest income and
spread $ 50,406 3.45% $ 53,909 3.31%
======== ========== ======== ==========

Net interest margin (1) 3.78% 3.62%
========== ==========
Average interest-earning
assets to average
interest-bearing
liabilities 133.71% 124.72%
=========== ===========

(1) Net interest margin = annualized net interest income / average interest-earning assets


SOUTHWEST BANCORP, INC. Table 6
UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA
(Dollars in thousands, except per share)


----------------------------------------------------------------------------

2011 2010
------------------------ --------------------------------------------------

Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31
----------- ----------- ----------- ----------- ----------- -----------
OPERATIONS
Interest income:
Loans $ 29,478 $ 30,539 $ 32,831 $ 32,824 $ 33,891 $ 34,372
Investment securities 1,864 1,746 1,724 2,079 2,175 2,170

Other interest-earning assets 130 140 131 180 213 217
----------- ----------- ----------- ----------- ----------- -----------
Total interest income 31,472 32,425 34,686 35,083 36,279 36,759
Interest expense:
Interest bearing demand
deposits 103 124 85 111 140 132
Money market accounts 582 677 885 976 1,037 1,013
Savings accounts 10 16 17 15 16 16
Time deposits of $100,000 or
more 2,077 2,349 2,703 3,128 3,517 4,024

Other time deposits 1,759 1,967 2,230 2,572 2,661 2,989
----------- ----------- ----------- ----------- ----------- -----------
Total interest-bearing
deposits 4,531 5,133 5,920 6,802 7,371 8,174
Other borrowings 494 497 514 524 524 517

Subordinated debentures 1,462 1,374 1,282 1,305 1,276 1,267
----------- ----------- ----------- ----------- ----------- -----------

Total interest expense 6,487 7,004 7,716 8,631 9,171 9,958
----------- ----------- ----------- ----------- ----------- -----------
Net interest income 24,985 25,421 26,970 26,452 27,108 26,801
Provision for loan losses 20,140 9,050 7,265 11,988 7,776 8,531
Noninterest income:
Service charges and fees 3,231 2,878 3,144 2,994 3,170 3,096
Gain on sales of loans 401 194 682 653 416 985
Gain on investment securities -- -- 15 2,605 34 7
Other noninterest income
(loss) (28) 177 248 83 342 90
----------- ----------- ----------- ----------- ----------- -----------
Total noninterest income 3,604 3,249 4,089 6,335 3,962 4,178
Noninterest expense:
Salaries and employee
benefits 6,974 7,515 7,516 7,183 7,637 7,580
Occupancy 2,703 2,804 2,717 2,835 2,836 2,783
FDIC and other insurance 937 1,243 1,333 1,347 1,521 1,587
Other real estate, net 2,602 436 1,255 228 629 106
Provision for unfunded loan
commitments 128 (55) (332) (294) (512) (465)
Other general and
administrative 1,636 3,682 4,322 4,119 4,035 3,667
----------- ----------- ----------- ----------- ----------- -----------

Total noninterest expense 14,980 15,625 16,811 15,418 16,146 15,258
----------- ----------- ----------- ----------- ----------- -----------
Income (loss) before taxes (6,531) 3,995 6,983 5,381 7,148 7,190

Taxes on income (3,561) 1,534 2,675 1,508 2,737 2,818
----------- ----------- ----------- ----------- ----------- -----------

Net income (loss) $ (2,970) $ 2,461 $ 4,308 $ 3,873 $ 4,411 $ 4,372
=========== =========== =========== =========== =========== ===========
Net income (loss) available
to common shareholders (4,027) $ 1,408 $ 3,257 $ 2,825 $ 3,366 $ 3,329
=========== =========== =========== =========== =========== ===========
PER SHARE DATA
Basic earnings per common
share $ (0.21) $ 0.07 $ 0.17 $ 0.15 $ 0.19 $ 0.23
Diluted earnings per common
share (0.21) 0.07 0.17 0.15 0.19 0.23
Book value per common share 15.89 16.02 15.97 15.93 15.88 16.79
Tangible book value per
share* 15.54 15.67 15.62 15.58 15.53 16.33
COMMON STOCK
Shares issued and outstanding 19,439,167 19,438,290 19,421,900 19,395,675 19,388,797 14,779,711
OTHER FINANCIAL DATA
Investment securities $ 268,153 $ 258,436 $ 262,525 $ 240,844 $ 247,108 $ 241,693
Loans held for sale 37,204 37,348 35,194 34,868 25,615 25,586
Noncovered portfolio loans 2,156,096 2,241,080 2,331,293 2,412,796 2,475,348 2,516,397
Total noncovered loans 2,193,300 2,278,428 2,366,487 2,447,664 2,500,963 2,541,983
Covered portfolio loans 46,153 49,117 53,628 60,558 68,006 76,909
Total assets 2,660,495 2,779,028 2,820,541 2,905,275 3,010,835 3,074,923
Total deposits 2,094,236 2,218,571 2,252,728 2,345,648 2,444,939 2,554,165
Other borrowings 96,682 85,332 94,602 82,506 93,036 103,620
Subordinated debentures 81,963 81,963 81,963 81,963 81,963 81,963
Total shareholders' equity 376,930 379,350 377,812 376,576 375,319 315,341
Mortgage servicing portfolio 283,083 281,271 278,146 261,266 249,632 241,224
INTANGIBLE ASSET DATA
Goodwill $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811 $ 6,811
Core deposit intangible 3,285 3,420 3,557 3,693 3,830 3,967
Mortgage servicing rights 1,781 1,718 1,810 1,661 1,589 1,603

Nonmortgage servicing rights 3 3 4 4 5 5
----------- ----------- ----------- ----------- ----------- -----------

Total intangible assets $ 11,880 $ 11,952 $ 12,182 $ 12,169 $ 12,235 $ 12,386
=========== =========== =========== =========== =========== ===========
Intangible amortization
expense $ 222 $ 361 $ 402 $ 392 $ 350 $ 359
----------- ----------- ----------- ----------- ----------- -----------
Continued
____________________
*This is a Non-GAAP based financial measure.


SOUTHWEST BANCORP, INC. Table 6
UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA Continued
(Dollars in thousands, except per share)


----------------------------------------------------------------------------

2011 2010
------------------------ --------------------------------------------------

Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31
----------- ----------- ----------- ----------- ----------- -----------
LOAN COMPOSITION
Noncovered
Real estate mortgage:
Commercial $ 1,262,753 $ 1,302,164 $ 1,310,464 $ 1,271,278 $ 1,251,709 $ 1,230,009
One-to-four family
residential 87,407 87,286 89,800 109,980 106,814 111,185
Real estate construction
Commercial 372,576 403,635 441,265 527,773 589,590 630,472
One-to-four family
residential 26,400 26,758 27,429 30,527 35,129 34,996
Commercial 404,229 416,392 452,626 463,132 471,004 487,074
Installment and consumer:
Guaranteed student loans 5,600 5,700 5,843 5,960 7,389 10,199

Other 34,335 36,493 39,060 39,014 39,328 38,048
----------- ----------- ----------- ----------- ----------- -----------
Total noncovered loans,
including held for sale 2,193,300 2,278,428 2,366,487 2,447,664 2,500,963 2,541,983
Less allowance for loan
losses (54,575) (61,285) (65,229) (72,418) (67,055) (65,168)
----------- ----------- ----------- ----------- ----------- -----------

Total noncovered loans, net $ 2,138,725 $ 2,217,143 $ 2,301,258 $ 2,375,246 $ 2,433,908 $ 2,476,815
=========== =========== =========== =========== =========== ===========
Covered
Real estate mortgage:
Commercial $ 26,976 $ 28,929 $ 30,997 $ 33,428 $ 36,107 $ 37,487
One-to-four family
residential 8,113 8,192 9,122 10,071 10,277 10,843
Real estate construction
Commercial 6,001 6,144 6,840 7,464 8,190 11,173
One-to-four family
residential 172 281 439 1,823 3,853 5,273
Commercial 4,461 5,021 5,554 6,816 8,487 10,807

Installment and consumer: 430 550 676 956 1,092 1,326
----------- ----------- ----------- ----------- ----------- -----------

Total covered loans $ 46,153 $ 49,117 $ 53,628 $ 60,558 $ 68,006 $ 76,909
=========== =========== =========== =========== =========== ===========
DEPOSIT COMPOSITION
Non-interest bearing demand $ 389,027 $ 369,013 $ 377,182 $ 329,655 $ 326,721 $ 317,896
Interest-bearing demand 124,346 112,731 92,584 86,153 102,218 119,757
Money market accounts 465,269 486,770 495,253 518,422 510,549 506,659
Savings accounts 29,586 28,440 26,665 25,556 25,321 25,871
Time deposits of $100,000 or
more 570,116 669,817 694,565 795,303 861,110 944,871

Other time deposits 515,892 551,800 566,479 590,559 619,020 639,111
----------- ----------- ----------- ----------- ----------- -----------

Total deposits** $ 2,094,236 $ 2,218,571 $ 2,252,728 $ 2,345,648 $ 2,444,939 $ 2,554,165
=========== =========== =========== =========== =========== ===========
LOANS BY SEGMENT
Oklahoma banking $ 834,189 $ 838,006 $ 871,393 $ 890,598 $ 914,004 $ 926,870
Texas banking 911,134 953,123 982,845 1,024,863 1,041,228 1,063,511
Kansas banking 260,431 272,685 289,642 309,240 329,157 342,596

Other states banking 196,495 226,383 241,041 248,653 258,965 260,329
----------- ----------- ----------- ----------- ----------- -----------
Subtotal 2,202,249 2,290,197 2,384,921 2,473,354 2,543,354 2,593,306

Secondary market 37,204 37,348 35,194 34,868 25,615 25,586
----------- ----------- ----------- ----------- ----------- -----------

Total loans $ 2,239,453 $ 2,327,545 $ 2,420,115 $ 2,508,222 $ 2,568,969 $ 2,618,892
=========== =========== =========== =========== =========== ===========
NET INCOME (LOSS) BY SEGMENT
Oklahoma banking $ 5,290 $ 3,435 $ 4,205 $ 3,399 $ 4,387 $ 2,857
Texas banking 1,575 1,079 4,001 (1,801) 757 1,685
Kansas banking 971 131 293 (306) 940 (322)

Other states banking (9,039) (924) (3,674) 494 (477) 1,750
----------- ----------- ----------- ----------- ----------- -----------
Subtotal (1,203) 3,721 4,825 1,786 5,607 5,970
Secondary market 127 (13) 444 173 83 310

Other operations (1,894) (1,247) (961) 1,914 (1,279) (1,908)
----------- ----------- ----------- ----------- ----------- -----------

Net income (loss) $ (2,970) $ 2,461 $ 4,308 $ 3,873 $ 4,411 $ 4,372
=========== =========== =========== =========== =========== ===========
OFFICES AND EMPLOYEES
FTE Employees 437 424 432 440 447 455
Branches 23 23 23 23 23 24
Loan production offices 2 2 2 2 2 2
Assets per employee $ 6,088 $ 6,554 $ 6,529 $ 6,603 $ 6,736 $ 6,758
____________________
**Calculation of Non-brokered Deposits and Core Funding (Non-GAAP Financial Measures)
Total deposits $ 2,094,236 $ 2,218,571 $ 2,252,728 $ 2,345,648 $ 2,444,939 $ 2,554,165
Less:
Brokered time deposits 52,407 122,124 145,240 226,238 279,027 359,571

Other brokered deposits 105,392 112,033 117,532 129,096 126,643 124,969
----------- ----------- ----------- ----------- ----------- -----------

Non-brokered deposits $ 1,936,437 $ 1,984,414 $ 1,989,956 $ 1,990,314 $ 2,039,269 $ 2,069,625
----------- ----------- ----------- ----------- ----------- -----------
Plus:
Sweep repurchase
agreements 30,636 27,214 26,492 22,211 22,700 33,192
----------- ----------- ----------- ----------- ----------- -----------

Core funding $ 1,967,073 $ 2,011,628 $ 2,016,448 $ 2,012,525 $ 2,061,969 $ 2,102,817
=========== =========== =========== =========== =========== ===========

Balance sheet amounts are as of period end unless otherwise noted.


SOUTHWEST BANCORP, INC. Table 7
UNAUDITED QUARTERLY SUPPLEMENTAL ANALYTICAL DATA
(Dollars in thousands, except per share)


----------------------------------------------------------------------------

2011 2010
------------------------ --------------------------------------------------

Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31
----------- ----------- ----------- ----------- ----------- -----------
PERFORMANCE RATIOS
Return on average assets
(annualized) (0.43)% 0.35% 0.59% 0.52% 0.58% 0.57%
Return on average common
equity (annualized) (5.11) 1.81 4.11 3.57 4.64 5.42
Return on average tangible
common equity (annualized)* (5.22) 1.85 4.21 3.65 4.75 5.58
Net interest margin
(annualized) 3.79 3.78 3.82 3.63 3.65 3.59
Total dividends declared to
net income (29.46) 35.56 20.31 22.59 19.84 20.02
Effective tax rate 54.53 38.40 38.31 28.02 38.29 39.19
Efficiency ratio 52.40 54.50 54.13 47.02 51.97 49.25
NONPERFORMING ASSETS
Noncovered
Nonaccrual loans $ 151,135 $ 134,934 $ 106,566 $ 135,209 $ 111,871 $ 97,858

90 days past due and accruing 43 529 517 452 333 4
----------- ----------- ----------- ----------- ----------- -----------
Total nonperforming loans 151,178 135,463 107,083 135,661 112,204 97,862

Other real estate 38,956 41,067 37,722 35,723 27,634 18,809
----------- ----------- ----------- ----------- ----------- -----------

Total nonperforming assets $ 190,134 $ 176,530 $ 144,805 $ 171,384 $ 139,838 $ 116,671
=========== =========== =========== =========== =========== ===========

Performing restructured $ 3,191 $ 2,166 $ 2,177 $ 5,334 $ 5,525 $ 5,650
----------- ----------- ----------- ----------- ----------- -----------

Potential problem loans $ 291,171 $ 217,406 $ 233,140 $ 236,844 $ 242,217 $ 275,912
----------- ----------- ----------- ----------- ----------- -----------
Covered
Nonaccrual loans $ 9,800 $ 9,809 $ 10,806 $ 7,906 $ 14,504 $ 16,192

90 days past due and accruing -- -- -- 1,871 130 356
----------- ----------- ----------- ----------- ----------- -----------
Total nonperforming loans 9,800 9,809 10,806 9,777 14,634 16,548

Other real estate 3,806 4,016 4,187 4,448 4,352 4,489
----------- ----------- ----------- ----------- ----------- -----------

Total nonperforming assets $ 13,606 $ 13,825 $ 14,993 $ 14,225 $ 18,986 $ 21,037
=========== =========== =========== =========== =========== ===========

Potential problem loans $ 2,731 $ 3,444 $ 3,495 $ 6,413 $ 6,184 $ 6,620
----------- ----------- ----------- ----------- ----------- -----------
ALLOWANCE ACTIVITY
Balance, beginning of period $ 61,285 $ 65,229 $ 72,418 $ 67,055 $ 65,168 $ 62,413
Charge offs 27,562 13,392 14,720 7,006 6,168 6,545

Recoveries 712 398 266 381 279 769
----------- ----------- ----------- ----------- ----------- -----------
Net charge offs 26,850 12,994 14,454 6,625 5,889 5,776

Provision for loan losses 20,140 9,050 7,265 11,988 7,776 8,531
----------- ----------- ----------- ----------- ----------- -----------

Balance, end of period $ 54,575 $ 61,285 $ 65,229 $ 72,418 $ 67,055 $ 65,168
=========== =========== =========== =========== =========== ===========
ASSET QUALITY RATIOS
Net loan charge-offs to
average portfolio loans
(annualized) 4.76% 2.25% 2.35% 1.05% 0.92% 0.90%
Noncovered
Nonperforming assets to
portfolio loans and other
real estate 8.66% 7.74% 6.11% 7.00% 5.59% 4.60%
Nonperforming loans to
portfolio loans 7.01 6.04 4.59 5.62 4.53 3.89
Allowance for loan losses to
portfolio loans 2.53 2.73 2.80 3.00 2.71 2.59
Allowance for loan losses to
nonperforming loans 36.10 45.24 60.91 53.38 59.76 66.59
Covered
Nonperforming assets to
portfolio loans and other
real estate 27.23% 26.02% 25.93% 21.88% 26.24% 25.84%
Nonperforming loans to
portfolio loans 21.23 19.97 20.15 16.14 21.52 21.52
CAPITAL RATIOS
Average total shareholders'
equity to average assets 13.98% 13.57% 13.24% 12.85% 11.78% 10.18%
Leverage ratio 16.25 15.95 15.55 14.96 14.48 12.32
Tier 1 capital to
risk-weighted assets 18.93 18.49 17.78 17.17 16.50 14.00
Total capital to
risk-weighted assets 20.20 19.77 19.06 18.45 17.78 15.28
Tangible common equity to
tangible assets*** 11.38 10.99 10.78 10.43 10.02 7.87
REGULATORY CAPITAL DATA
Tier I capital $ 444,106 $ 447,803 $ 445,966 $ 442,188 $ 438,973 $ 381,280
Total capital 473,950 478,713 477,930 475,040 472,971 415,955
Total risk adjusted assets 2,346,596 2,421,752 2,507,867 2,574,746 2,659,886 2,722,628
Average total assets 2,733,561 2,807,518 2,867,114 2,955,779 3,032,328 3,094,756
____________________
*This is a Non-GAAP based financial measure.
***Calculation of Tangible Capital to Tangible Assets (Non-GAAP Financial Measure)
Total shareholders' equity $ 376,930 $ 379,350 $ 377,812 $ 376,576 $ 375,319 $ 315,341
Less:
Goodwill 6,811 6,811 6,811 6,811 6,811 6,811

Preferred stock 68,084 67,902 67,724 67,548 67,375 67,205
----------- ----------- ----------- ----------- ----------- -----------

Tangible common equity $ 302,035 $ 304,637 $ 303,277 $ 302,217 $ 301,133 $ 241,325
=========== =========== =========== =========== =========== ===========
Total assets $ 2,660,495 $ 2,779,028 $ 2,820,541 $ 2,905,275 $ 3,010,835 $ 3,074,923

Less goodwill 6,811 6,811 6,811 6,811 6,811 6,811
----------- ----------- ----------- ----------- ----------- -----------

Tangible assets $ 2,653,684 $ 2,772,217 $ 2,813,730 $ 2,898,464 $ 3,004,024 $ 3,068,112
=========== =========== =========== =========== =========== ===========
Tangible common equity to
tangible assets 11.38% 10.99% 10.78% 10.43% 10.02% 7.87%

Balance sheet amounts and ratios are as of period end unless otherwise noted.

This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Southwest Bancorp, Inc.

By Staff

CONTACT: CONTACT: Rick Green
President & CEO
Laura Robertson
EVP & CFO
(405) 372-2230

(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Banks
SUBJECT CODE: EARNINGS
BANKING
Earnings Releases and Operating Results
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Kev2128 Kev2128 12 years ago
No problem!
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Underdog Underdog 12 years ago
Way cool bro! Thanks again.
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