Southwest Bancorp, Inc. today reported net income of $4.5 million, or $0.31 per diluted share for the fourth quarter 2007, compared to $6.5 million, or $0.44 per diluted share for the fourth quarter 2006.
Net income for the twelve months ended December 31, 2007 was $21.4 million, or $1.46 per diluted share, compared to $26.0 million, or $1.79 per diluted share. At December 31, 2007, total assets were $2.6 billion.
Rick Green, President and Chief Executive Officer, stated, “2007 was a year of significant strategic achievements but disappointing earnings. We achieved portfolio loan growth of $542.8 million, up 34%. This portfolio loan growth allowed us to overcome the continued decline in student lending, which now is only 3% of our total loans, and to achieve 23% annual growth in total loans (portfolio loans plus loans held for sale). Our total deposits grew 17%.