Southwest Bancorp Reports Earnings

Southwest Bancorp, Inc. has reported net income of $4.2 million, or $0.28 per diluted share for the second quarter 2008, compared to $6.8 million, or $0.47 per diluted share for the second quarter of 2007.

Net income for the six months ended June 30, 2008 was $9.4 million, or $0.64 per diluted share, compared to $11.3 million, or $0.77 per diluted share, for the prior year. At June 30, 2008, total assets were $2.8 billion.

“Our strategy continued to produce loan growth through the second quarter. Our portfolio loans grew $236.3 million, up 11%, from year-end 2007, led by increases in healthcare and other commercial real estate lending and commercial lending in Oklahoma and Texas. Texas portfolio loans grew $97.8 million, or 13%, and Oklahoma portfolio loans grew $89.9 million, or 10%, from year-end 2007. Construction loans decreased by $58.2 million, or 8%, from year-end 2007,” said Rick Green, President and Chief Executive Officer.



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