Southwest Bancorp (OKSB) 8-K Southwest Bancorp Reports Fourth Quarter 2007 Earnings per Share of $0.31

Exhibit 99

	For additional information:
		Rick Green
		President & CEO
		Kerby E. Crowell
		EVP & CFO
For Immediate Release		(405) 372-2230

Southwest Bancorp Reports Fourth Quarter 2007 Earnings per Share of $0.31

     January 22, 2008, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (Nasdaq Global Select Market—OKSB), (“Southwest”), 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%.

     “Most of our loan growth was the result of our established strategy focused on healthcare, commercial real estate, and commercial banking in carefully selected growth markets. Strategically important Texas markets accounted for most of our portfolio loan growth. At year-end, Texas portfolio loans totaled $800.0 million, or 37% of the total. Our decision not to rely on any significant amount of residential mortgages and not to make subprime loans was reinforced by market events. Only 5% of our total loans are one to four family residential mortgages and subprime lending has never been a part of our business strategy.

     “Our 2007 earnings were positively affected by our substantial portfolio loan growth, as well as a $3.0 million decrease in the required provision for loan losses and a $1.9 million gain on the sale of shares received in a debt restructuring. But other factors led to an overall $4.6 million, or 18%, drop in annual net income. Governmental actions to lower market interest rates in the wake of the sub-prime crisis resulted in a significant decrease in our yields on earning assets, but high demand for deposits increased our borrowing costs. The resulting margin squeeze produced a slight drop in net interest income in spite of our significant increase in loans. We also had several unexpected costs during the year: the write off of the ATM cash shortage and related legal expenses totaling $3.3 million, as previously reported, and Stillwater National’s estimated share, as a VISA issuing bank, of VISA USA litigation costs of $713,000. Our operating expenses, particularly personnel cost which grew 14%, increased in support of our Texas and Kansas expansion and normal operations.”

Portfolio Loans by State

	2007			2006			2005
Oklahoma Banking		49	%		57	%		62	%
Texas Banking		37	%		30	%		26	%
Kansas Banking		14	%		13	%		12	%

NASDAQ: OKSB

Southwest Bancorp Reports Fourth Quarter 2007 Earnings per Share of $0.31

Loan Composition

	2007		Change			2006		Change			2005
Portfolio Loans	$	2,145,557		33.9	%	$	1,602,726		18.51	%	$	1,352,433
Loans Held For Sale		66,275		(64.8	%)		188,464		(50.9	%)		383,447
Total Loans	$	2,211,832		23.5	%	$	1,791,190		3.2	%	$	1,735,880

     Please see the following discussion and financial tables.

Financial Overview

     Condition.Total assets were $2.6 billion at December 31, 2007, an increase of 18% from $2.2 billion at December 31, 2006. At December 31, 2007 total loans were $2.2 billion, versus $1.8 billion at December 31, 2006. Excluding the Bank of Kansas acquisition, total loans grew $378.5 million, or 21%. Non-performing assets to total assets were 1.26% at December 31, 2007 compared to 1.44% at December 31, 2006 and 1.29% at September 30, 2007. Of total non-performing assets, 41.9% are commercial real estate loans, 37.1% are commercial loans, 9.0% are real estate construction loans, 8.3% is other real estate owned, 2.5% are residential real estate mortgages and 1.2% is other consumer loans. The allowance for loan losses as a percentage of total loans was 1.34% at December 31, 2007, versus 1.52% at December 31, 2006 and 1.41% at September 30, 2007.

     Total deposits were $2.1 billion at December 31, 2007, up from $1.8 billion at December 31, 2006. On December 31, 2007, Southwest exceeded all applicable regulatory capital requirements and each of its banking subsidiaries met the criteria for regulatory classification as “well-capitalized.” Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank or thrift regulators.

     Annual Results. Net interest income totaled $92.5 million 2007, compared to $92.8 million for 2006. Net interest margin was 4.19% for the year 2007 compared to 4.41% in 2006. Yields on earning assets decreased by 4 basis points over the prior year while our cost of funds increased by 32 basis points.

     The provision for loan losses for 2007 of $8.6 million, compared to $11.6 million in 2006. Net charge offs totaled $6.3 million, or .33% of average loans, in the year-ended December 31, 2007 versus net charge offs of $8.1 million, or .44% of average loans in the prior year.

     Noninterest income totaled $16.6 million in 2007, compared to $16.8 million for 2006. The slight decrease in noninterest income from 2006 was mainly the result of a $1.6 million or 14% decrease in service charges offset in part by a $1.3 million increase in gain on sale of investment securities.

     Noninterest expense for 2007 was $65.5 million versus $56.6 million in 2006. The increase from 2006 in noninterest expense consists mainly of a $4.4 million or 14% increase in personnel expense and a $5.0 million or 34% increase in general and administrative expenses, which includes the costs of the legal matters noted above and the provision for the reserve for unfunded loan commitments.

     The efficiency ratio was 60.05% in 2007, up from 51.67% in 2006. The year over year increase in the efficiency ratio was due to the combined effect of the increase in Southwest’s operating expenses, without commensurate increase in net interest income which was constrained by a lower net interest margin.

     Fourth Quarter Results.Net interest income totaled $23.5 million in the fourth quarter 2007, compared to $24.0 million for the fourth quarter 2006 and $23.7 million for the third quarter 2007. Net interest margin was 3.89% for the fourth quarter 2007 compared to 4.47% in the fourth quarter 2006, and 4.23% in the third quarter 2007. Yields on earning assets decreased by 66 basis points over the prior year quarter while our cost of funds decreased by only 11 basis points.

     The provision for loan losses in the fourth quarter 2007 of $2.5 million, compared to $2.6 million in the fourth quarter 2006 and $2.1 in the third quarter 2007. Net charge offs totaled $1.2 million, or 0.22% (annualized) of average loans, in the quarter ended December 31, 2007 versus net charge offs of $3.3 million, or 0.71%

2

NASDAQ: OKSB

Southwest Bancorp Reports Fourth Quarter 2007 Earnings per Share of $0.31

(annualized) of average loans in the prior year quarter and net charge offs of $1.9 million, or 0.39% (annualized) of average loans in the third quarter 2007.

     Noninterest income totaled $4.1 million in the fourth quarter 2007, compared to $4.3 million for the fourth quarter 2006 and $3.7 million for the third quarter 2007. The decrease in noninterest income from fourth quarter 2006 was mainly the result of decreased service charges and lower gains on the sales of securities and loans.

     Noninterest expense for the fourth quarter 2007 was $17.7 million versus $15.7 million in the same quarter of last year and $16.2 million for the third quarter 2007. The increase from fourth quarter 2006 in noninterest expense is mainly due to a $1.4 million or 17% increase in personnel expense and a $542,000 or 12% increase in general and administrative expenses.

     The efficiency ratio was 64.02 percent in the fourth quarter 2007, up from 55.28 percent in the prior year fourth quarter and 59.13 percent in the third quarter 2007. The year over year increase in the efficiency ratio was due to the combined effect of the increase in Southwest’s operating expenses, without commensurate increase in net interest income which was constrained by a lower net interest margin.

     Certain Legal Matters.As previously disclosed, in December 2006, an armored transportation company failed to deliver to Stillwater National Bank and Trust (“Stillwater National”) cash due to it from certain ATMs owned by one of its subsidiaries, Cash Source, Inc. (“CSI”). In the first quarter of 2007, Southwest recorded a complete write off of the $2.5 million receivable. The financial statements also reflect related legal expenses incurred by Southwest in 2007 of approximately $785,000. Southwest filed its proof of loss with the insurer on August 6, 2007.

     Stillwater National and other Visa USA member banks are obligated to share in costs resulting from litigation against Visa USA, including the costs of the November 9, 2007, settlement of an antitrust lawsuit brought by American Express and potential costs of certain other, pending litigation. In the fourth quarter of 2007, Southwest recorded approximately $713,000 as its estimated share of the settlement and other pending litigation expenses relating to these obligations. This amount is an estimate and further accruals may be required.

Southwest Bancorp and Subsidiaries

     Southwest Bancorp is the financial holding company for Stillwater National, Bank of Kansas (“SNB Kansas”), SNB Bank of Wichita (“SNB Wichita”), Healthcare Strategic Support, Inc., and Business Consulting Group, Inc. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit, and investment services, and specialized cash management, consulting, and other financial services from offices in Oklahoma City, Stillwater, Tulsa, and Chickasha, Oklahoma; Austin, Dallas, Houston and San Antonio, Texas; and Hutchinson, Kansas City, and Wichita, Kansas, and on the Internet, throughSNB DirectBanker^®.

     Southwest focuses on converting its strategic vision into long-term shareholder value. Our vision includes an established niche banking model focused on healthcare and commercial real estate financial services in Texas, Oklahoma, and Kansas and a community banking model focused on more traditional banking operations in those states. Southwest’s strategic growth goals include growth from existing and additional offices in carefully selected markets in Texas and other states with concentrations of healthcare and health professionals, businesses, and their managers and owners, and commercial and commercial real estate borrowers, and careful expansion of community banking operations.

     Southwest’s common stock is traded on the NASDAQ Global Select Market under the symbol OKSB.

3

NASDAQ: OKSB

Southwest Bancorp Reports Fourth Quarter 2007 Earnings per Share of $0.31

Forward-Looking Statements

     This Press Release includes forward-looking statements, such as: statements of Southwest’s goals, intentions, and expectations; estimates of risks and of future costs and benefits; assessments of the amount and timing of problem loan payoffs and loan losses; off-balance sheet risk and market risk; 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: future interest rates, market behavior, and other economic conditions; future laws and regulations; 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 its future results.

4

NASDAQ: OKSB

Southwest Bancorp Reports Fourth Quarter 2007 Earnings per Share of $0.31

Financial Tables

Financial Highlights	Table 1
Consolidated Statements of Financial Condition	Table 2
Consolidated Statements of Operations	Table 3
Average Balances, Yields, and Rates-Quarterly	Table 4
Average Balances, Yields, and Rates-Year-to-date	Table 5
Summary Financial Data by Quarter-2007 and 2006	Table 6
Supplemental Analytical Data by Quarter-2007 and 2006	Table 7

5 

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

	Fourth Quarter									Third Quarter
QUARTERLY HIGHLIGHTS							%						%
	2007			2006			Change			2007			Change
Operations
Net interest income	$	23,507		$	24,039			(2	)%	$	23,676			(1	)%
Provision for loan losses		2,464			2,567			(4	)		2,149			15
Noninterest income		4,100			4,344			(6	)		3,656			12
Noninterest expense		17,673			15,691			13			16,162			9
Income before taxes		7,470			10,125			(26	)		9,021			(17	)
Taxes on income		2,949			3,672			(20	)		3,505			(16	)
Net income		4,521			6,453			(30	)		5,516			(18	)
Diluted earnings per share		0.31			0.44			(30	)		0.38			(18	)
Balance Sheet
Total assets		2,564,537			2,170,628			18			2,386,852			7
Loans held for sale		66,275			188,464			(65	)		78,417			(15	)
Portfolio loans		2,145,557			1,602,726			34			1,933,223			11
Total deposits		2,058,818			1,765,611			17			1,912,719			8
Total shareholders’ equity		217,609			197,510			10			213,838			2
Book value per share		15.16			13.87			9			14.92			2
Key Ratios
Net interest margin		3.89	%		4.47	%					4.23	%
Efficiency ratio (GAAP-based)		64.02			55.28						59.13
Allowance to total loans		1.34			1.52						1.41
Nonperforming loans to total loans		1.34			1.64						1.45
Shareholders’ equity to total assets		8.49			9.10						8.96			��
Return on average assets		0.72			1.15						0.96
Return on average equity		8.24			13.06						10.29

YEAR-TO-DATE HIGHLIGHTS	Twelve Months
							%
	2007			2006			Change
Operations
Net interest income	$	92,480		$	92,838			0	%
Provision for loan losses		8,581			11,565			(26	)
Noninterest income		16,550			16,776			(1	)
Noninterest expense		65,474			56,643			16
Income before taxes		34,975			41,406			(16	)
Taxes on income		13,597			15,409			(12	)
Net income		21,378			25,997			(18	)
Diluted earnings per share		1.46			1.79			(18	)
Balance Sheet
Total assets		2,564,537			2,170,628			18
Loans held for sale		66,275			188,464			(65	)
Portfolio loans		2,145,557			1,602,726			34
Total deposits		2,058,818			1,765,611			17
Total shareholders’ equity		217,609			197,510			10
Book value per share		15.16			13.87			9
Key Ratios
Net interest margin		4.19	%		4.41	%
Efficiency ratio (GAAP-based)		60.05			51.67
Allowance to total loans		1.34			1.52
Nonperforming loans to total loans		1.34			1.64
Shareholders’ equity to total assets		8.49			9.10
Return on average assets		0.94			1.18
Return on average equity		10.19			13.99

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

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

	December 31,			December 31,
	2007			2006
Assets
Cash and due from banks	$	45,678		$	46,618
Federal funds sold		—			11,000
Cash and cash equivalents		45,678			57,618
Investment securities:
Held to maturity. Fair value: $5,838 $1,621		5,838			1,630
Available for sale. Amortized cost: $236,707 $258,742		237,358			255,904
Federal Reserve and FHLB Stock, at cost		13,116			12,315
Loans held for sale		66,275			188,464
Loans receivable		2,145,557			1,602,726
Less: Allowance for loan losses		(29,584	)		(27,293	)
Net loans receivable		2,115,973			1,575,433
Accrued interest receivable		23,117			24,269
Premises and equipment, net		24,323			21,818
Other real estate owned		2,679			1,873
Goodwill		7,542			1,213
Other intangible assets, net		4,341			3,069
Other assets		18,297			27,022
Total assets	$	2,564,537		$	2,170,628
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	257,067		$	254,415
Interest-bearing demand		63,323			55,396
Money market accounts		541,950			371,912
Savings accounts		13,032			11,273
Time deposits of $100,000 or more		691,224			648,664
Other time deposits		492,222			423,951
Total deposits		2,058,818			1,765,611
Accrued interest payable		11,441			13,260
Income tax payable		1,766			1,136
Other liabilities		10,154			8,624
Other borrowings		218,356			138,094
Subordinated debentures		46,393			46,393
Total liabilities		2,346,928			1,973,118
Shareholders’ equity
Common stock — $1 par value; 20,000,000 shares authorized; 14,658,042 shares issued		14,658			14,658
Paid in capital		46,478			45,901
Retained earnings		161,482			146,197
Accumulated other comprehensive income (loss)		408			(1,738	)
Treasury stock, at cost, 300,833 417,535 shares		(5,417	)		(7,508	)
Total shareholders’ equity		217,609			197,510
Total liabilities and shareholders’ equity	$	2,564,537		$	2,170,628

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

	For the three months				For the twelve months
	ended December 31,				ended December 31,
	2007		2006		2007			2006
Interest income
Loans	$	43,549	$	42,034	$	165,759		$	158,873
Investment securities		2,713		2,661		11,055			10,722
Other interest-earning assets		35		28		254			165
Total interest income		46,297		44,723		177,068			169,760
Interest expense
Interest-bearing deposits		19,199		17,117		73,139			63,102
Other borrowings		2,620		2,578		7,555			10,023
Subordinated debentures		971		989		3,894			3,797
Total interest expense		22,790		20,684		84,588			76,922
Net interest income		23,507		24,039		92,480			92,838
Provision for loan losses		2,464		2,567		8,581			11,565
Noninterest income
Service charges and fees		2,831		2,837		9,920			11,492
Gain on sales of loans		783		877		3,339			3,438
Gain on investment securities		5		525		1,584			251
Other noninterest income		481		105		1,707			1,595
Total noninterest income		4,100		4,344		16,550			16,776
Noninterest expense
Salaries and employee benefits		9,838		8,392		35,287			30,897
Occupancy		2,540		2,673		9,845			10,190
FDIC and other insurance		225		132		622			511
Other real estate, net		64		30		(58	)		286
General and administrative		5,006		4,464		19,778			14,759
Total noninterest expenses		17,673		15,691		65,474			56,643
Income before taxes		7,470		10,125		34,975			41,406
Taxes on income		2,949		3,672		13,597			15,409
Net income	$	4,521	$	6,453	$	21,378		$	25,997
Basic earnings per common share	$	0.32	$	0.45	$	1.49		$	1.84
Diluted earnings per common share		0.31		0.44		1.46			1.79
Cash dividends declared per share		0.0925		0.0825		0.3700			0.3300

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

	For the three months ended December 31,
	2007								2006
	Average					Average			Average						Average
	Balance			Interest		Yield/Rate			Balance			Interest			Yield/Rate
Assets
Loans	$	2,121,088		$	43,549		8.15	%	$	1,861,357		$	42,034			8.96	%
Investment securities		274,509			2,713		3.92			269,819			2,661			3.91
Other interest-earning assets		2,736			35		5.08			2,089			28			5.32
Total interest-earning assets		2,398,333			46,297		7.66			2,133,265			44,723			8.32
Other assets		76,755								84,126
Total assets	$	2,475,088							$	2,217,391
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits	$	61,061		$	94		0.61	%	$	55,633		$	62			0.44	%
Money market accounts		510,596			5,370		4.17			363,370			3,979			4.34
Savings accounts		13,694			22		0.64			10,855			20			0.73
Time deposits		1,121,143			13,713		4.85			1,069,062			13,056			4.85
Total interest-bearing deposits		1,706,494			19,199		4.46			1,498,920			17,117			4.53
Other borrowings		225,703			2,620		4.61			208,299			2,578			4.91
Subordinated debentures		46,393			971		8.37			46,393			989			8.53
Total interest-bearing liabilities		1,978,590			22,790		4.57			1,753,612			20,684			4.68
Noninterest-bearing demand deposits		255,651								245,254
Other liabilities		23,066								22,519
Shareholders’ equity		217,781								196,006
														��
Total liabilities and shareholders’ equity	$	2,475,088							$	2,217,391
Net interest income and spread				$	23,507		3.09	%				$	24,039			3.64	%
Net interest margin (1)							3.89	%								4.47	%
Average interest-earning assets to average interest-bearing liabilities		121.21	%							121.65	%

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

Table 5

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

	For the twelve months ended December 31,
	2007								2006
	Average					Average			Average					Average
	Balance			Interest		Yield/Rate			Balance			Interest		Yield/Rate
Assets
Loans	$	1,922,867		$	165,759		8.62	%	$	1,830,996		$	158,873		8.68	%
Investment securities		276,867			11,055		3.99			270,352			10,722		3.97
Other interest-earning assets		5,136			254		4.95			3,342			165		4.94
Total interest-earning assets		2,204,870			177,068		8.03			2,104,690			169,760		8.07
Other assets		74,555								90,405
Total assets	$	2,279,425							$	2,195,095
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits	$	62,038		$	355		0.57	%	$	56,984		$	282		0.49	%
Money market accounts		449,266			19,664		4.38			384,470			16,020		4.17
Savings accounts		12,274			87		0.71			9,734			50		0.51
Time deposits		1,071,788			53,033		4.95			1,046,945			46,750		4.47
Total interest-bearing deposits		1,595,366			73,139		4.58			1,498,133			63,102		4.21
Other borrowings		161,684			7,555		4.67			214,677			10,023		4.67
Subordinated debentures		46,393			3,894		8.39			46,393			3,797		8.18
Total interest-bearing liabilities		1,803,443			84,588		4.69			1,759,203			76,922		4.37
Noninterest-bearing demand deposits		244,459								229,680
Other liabilities		21,638								20,395
Shareholders’ equity		209,885								185,817
Total liabilities and shareholders’ equity	$	2,279,425							$	2,195,095
Net interest income and spread				$	92,480		3.34	%				$	92,838		3.70	%
Net interest margin (1)							4.19	%							4.41	%
Average interest-earning assets to average interest-bearing liabilities		122.26	%							119.64	%

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

Table 6

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

	2007											2006
	Dec. 31		Sep. 30			Jun. 30			Mar. 31			Dec. 31		Sep. 30			Jun. 30			Mar. 31
OPERATIONS
Interest income:
Loans	$	43,549	$	42,346		$	39,578		$	40,286		$	42,034	$	41,074		$	39,047		$	36,718
Investment securities		2,713		2,816			2,847			2,679			2,661		2,686			2,705			2,670
Other interest-earning assets		35		39			115			65			28		57			60			20
Total interest income		46,297		45,201			42,540			43,030			44,723		43,817			41,812			39,408
Interest expense:
Interest bearing demand deposits		94		82			98			81			62		79			78			63
Money market accounts		5,370		5,589			4,743			3,962			3,979		4,066			4,227			3,748
Savings accounts		22		24			21			20			20		19			6			5
Time deposits of $100,000 or more		7,873		7,445			7,781			8,132			8,121		8,106			7,478			6,182
Other time deposits		5,840		5,684			5,250			5,028			4,935		4,578			3,943			3,407
Total interest-bearing deposits		19,199		18,824			17,893			17,223			17,117		16,848			15,732			13,405
Other borrowings		2,620		1,715			1,089			2,131			2,578		2,281			2,275			2,889
Subordinated debentures		971		986			975			962			989		992			944			872
Total interest expense		22,790		21,525			19,957			20,316			20,684		20,121			18,951			17,166
Net interest income		23,507		23,676			22,583			22,714			24,039		23,696			22,861			22,242
Provision for loan losses		2,464		2,149			2,107			1,861			2,567		3,006			3,316			2,676
Noninterest income:
Service charges and fees		2,831		2,548			2,306			2,235			2,837		2,872			3,009			2,774
Gain on sales of loans		783		548			800			1,208			877		616			1,040			905
Gain (loss) on investment securities		5		108			1,919			(448	)		525		60			(71	)		(263	)
Other noninterest income		481		452			429			345			105		411			527			552
Total noninterest income		4,100		3,656			5,454			3,340			4,344		3,959			4,505			3,968
Noninterest expense:
Salaries and employee benefits		9,838		8,966			8,358			8,125			8,392		7,477			7,788			7,240
Occupancy		2,540		2,514			2,388			2,403			2,673		2,520			2,430			2,567
FDIC and other insurance		225		134			140			123			132		128			124			127
Other real estate, net		64		(12	)		(41	)		(69	)		30		122			26			108
Unfunded loan commitment reserve		368		675			151			(65	)		376		(45	)		75			(368	)
General and administrative		4,638		3,885			3,812			6,314			4,088		3,708			3,409			3,516
Total noninterest expenses		17,673		16,162			14,808			16,831			15,691		13,910			13,852			13,190
Income before taxes		7,470		9,021			11,122			7,362			10,125		10,739			10,198			10,344
Taxes on income		2,949		3,505			4,281			2,862			3,672		4,100			3,572			4,065
Net income	$	4,521	$	5,516		$	6,841		$	4,500		$	6,453	$	6,639		$	6,626		$	6,279
PER SHARE DATA
Basic earnings per common share	$	0.31	$	0.38		$	0.48		$	0.32		$	0.45	$	0.47		$	0.46		$	0.45
Diluted earnings per common share		0.31		0.38			0.47			0.31			0.44		0.46			0.45			0.44
Cash dividends declared per share		0.0925		0.0925			0.0925			0.0925			0.0825		0.0825			0.0825			0.0825
Book value per share		15.16		14.92			14.53			14.14			13.87		13.44			12.89			12.52
Tangible book value per share		14.63		14.45			14.44			14.05			13.78		13.37			12.88			12.51
Weighted average shares outstanding:
Basic		14,353,910		14,335,008			14,299,111			14,263,698			14,230,015		14,206,947			14,151,442			14,075,998
Diluted		14,584,878		14,612,732			14,644,863			14,642,913			14,562,343		14,533,573			14,470,954			14,406,911
OTHER FINANCIAL DATA
Investment securities	$	256,312	$	293,222		$	278,034		$	274,106		$	269,849	$	269,818		$	269,736		$	271,858
Loans held for sale		66,275		78,417			73,011			108,025			188,464		257,689			318,477			383,164
Portfolio loans		2,145,557		1,933,223			1,769,528			1,667,195			1,602,726		1,541,738			1,457,705			1,391,817
Total loans		2,211,832		2,011,640			1,842,539			1,775,220			1,791,190		1,799,427			1,776,182			1,774,981
Total assets		2,564,537		2,386,852			2,196,005			2,194,179			2,170,628		2,157,738			2,188,102			2,145,839
Total deposits		2,058,818		1,912,719			1,823,806			1,803,181			1,765,611		1,740,564			1,764,774			1,699,212
Other borrowings		218,356		190,847			95,561			123,212			138,094		157,740			170,904			203,616
Subordinated debentures		46,393		46,393			46,393			46,393			46,393		46,393			46,393			46,393
Total shareholders’ equity		217,609		213,838			208,185			201,777			197,510		191,231			182,700			176,945
Mortgage servicing portfolio		141,680		136,294			134,444			134,259			135,904		131,688			134,414			132,825
Continued

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

	2007												2006
	Dec. 31			Sep. 30			Jun. 30			Mar. 31			Dec. 31			Sep. 30			Jun. 30			Mar. 31
PERFORMANCE RATIOS
Return on average assets		0.72	%		0.96	%		1.28	%		0.83	%		1.15	%		1.20	%		1.21	%		1.17	%
Return on average equity		8.24			10.29			13.26			9.04			13.06			13.94			14.59			14.48
Return on average tangible equity		8.86			10.88			13.70			9.23			14.00			14.64			14.98			14.61
Net interest margin		3.89			4.23			4.35			4.34			4.47			4.47			4.36			4.34
Dividends declared to net income		29.37			24.04			19.37			29.32			18.20			17.68			17.63			18.54
Effective tax rate		39.48			38.85			38.49			38.88			36.27			38.18			35.03			39.30
Efficiency ratio		64.02			59.13			52.82			64.60			55.28			50.30			50.62			50.32
ASSET QUALITY RATIOS
Nonperforming assets to total loans and other real estate owned		1.46	%		1.53	%		1.40	%		1.76	%		1.74	%		1.83	%		1.61	%		1.82	%
Nonperforming loans to total loans		1.34			1.45			1.32			1.66			1.64			1.72			1.49			1.43
Net loan charge-offs to average total loans, annualized		0.22			0.39			0.40			0.31			0.71			0.28			0.38			0.39
Allowance for loan losses to total loans		1.34			1.41			1.52			1.56			1.52			1.56			1.48			1.39
Allowance for loan losses to nonperforming loans		100.04			97.32			115.65			94.18			92.97			90.52			99.67			97.80
CAPITAL RATIOS
Average total shareholders’ equity to average assets		8.80	%		9.30	%		9.64	%		9.15	%		8.84	%		8.62	%		8.31	%		8.08	%
Leverage ratio		10.22			10.92			11.73			11.12			10.91			10.84			10.58			10.37
Tier 1 capital to risk-weighted assets		9.69			10.49			11.84			12.44			12.25			12.53			12.54			12.62
Total capital to risk-weighted assets		10.95			11.76			13.13			13.68			13.50			13.80			13.80			13.87
SEGMENT LOANS
Oklahoma banking	$	1,039,002		$	981,373		$	936,360		$	890,503		$	912,862		$	889,453		$	844,047		$	846,045
Texas banking		800,000			677,494			613,470			550,357			487,505			450,489			418,669			363,774
Kansas banking		306,555			274,356			219,698			226,335			202,359			201,796			194,989			182,051
Subtotal		2,145,557			1,933,223			1,769,528			1,667,195			1,602,726			1,541,738			1,457,705			1,391,870
Secondary market		66,275			78,417			73,011			108,025			188,464			257,689			318,477			383,164
Other operations		—			—			—			—			—			—			—			(53	)
Total loans	$	2,211,832		$	2,011,640		$	1,842,539		$	1,775,220		$	1,791,190		$	1,799,427		$	1,776,182		$	1,774,981
SEGMENT NET INCOME*
Oklahoma banking	$	3,253		$	4,340		$	5,409		$	4,284		$	4,102		$	3,988		$	3,629		$	3,685
Texas banking		1,705			1,735			1,789			1,851			1,415			1,406			1,400			1,639
Kansas banking		130			333			446			234			(47	)		73			218			135
Subtotal		5,088			6,408			7,644			6,369			5,470			5,467			5,247			5,459
Secondary market		114			33			197			753			1,279			1,355			1,739			1,694
Other operations		(681	)		(925	)		(1,000	)		(2,622	)		(296	)		(183	)		(360	)		(874	)
Total net income	$	4,521		$	5,516		$	6,841		$	4,500		$	6,453		$	6,639		$	6,626		$	6,279
OFFICES AND EMPLOYEES
FTE Employees		489			484			457			443			429			430			409			390
ATM’s		43			43			38			39			125			302			296			297
Branches		17			17			15		��	15			15			15			13			13
Loan production offices		3			3			3			3			3			3			3			2
Assets per employee	$	5,244		$	4,932		$	4,805		$	4,953		$	5,060		$	5,018		$	5,350		$	5,502

Balance sheet amounts are as of period end unless otherwise noted.
*	In 2007, Southwest revised its methodology for presenting segment net income to reflect capital pricing.
	Segment net income for prior periods above has been adjusted to reflect this change.

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

	2007												2006
	Dec. 31			Sep. 30			Jun. 30			Mar. 31			Dec. 31			Sep. 30			Jun. 30			Mar. 31
LOAN COMPOSITION
Real estate mortgage:
Commercial	$	750,047		$	608,409		$	564,813		$	582,440		$	609,271		$	615,495		$	579,966		$	573,842
One-to-four family residential		111,085			112,407			90,916			83,312			91,441			94,966			97,513			91,007
Real estate construction		724,929			659,214			617,993			517,199			453,750			383,751			366,247			302,698
Commercial		521,501			517,658			465,588			457,838			424,189			421,173			389,525			401,820
Installment and consumer:
Guaranteed student loans		61,555			73,810			68,117			101,905			181,458			252,664			312,888			378,372
Other		42,715			40,142			35,112			32,526			31,081			31,378			30,043			27,242
Total loans, including held for sale		2,211,832			2,011,640			1,842,539			1,775,220			1,791,190			1,799,427			1,776,182			1,774,981
Less allowance for loan losses		(29,584	)		(28,314	)		(28,054	)		(27,728	)		(27,293	)		(28,064	)		(26,341	)		(24,760	)
Total loans, net	$	2,182,248		$	1,983,326		$	1,814,485		$	1,747,492		$	1,763,897		$	1,771,363		$	1,749,841		$	1,750,221
By statement of condition category:
Loans held for sale:
Student loans	$	61,555		$	73,810		$	68,117		$	101,905		$	181,458		$	252,664		$	312,888		$	378,372
One-to-four family residential		3,442			3,293			3,382			4,113			4,654			2,506			2,583			1,718
Other		1,278			1,314			1,512			2,007			2,352			2,519			3,006			3,074
Total loans held for sale		66,275			78,417			73,011			108,025			188,464			257,689			318,477			383,164
Portfolio loans		2,145,557			1,933,223			1,769,528			1,667,195			1,602,726			1,541,738			1,457,705			1,391,817
Total loans before allowance	$	2,211,832		$	2,011,640		$	1,842,539		$	1,775,220		$	1,791,190		$	1,799,427		$	1,776,182		$	1,774,981
DEPOSIT COMPOSITION
Non-interest bearing demand	$	257,067		$	261,634		$	248,285		$	251,777		$	254,415		$	245,335		$	235,649		$	229,979
Interest-bearing demand		63,323			63,145			63,758			63,741			55,396			58,037			62,114			58,188
Money market accounts		541,950			505,192			487,096			394,668			371,912			358,812			383,772			389,688
Savings accounts		13,032			14,830			11,017			11,196			11,273			10,931			8,895			9,233
Time deposits of $100,000 or more		691,224			580,850			571,584			646,668			648,664			646,849			678,660			637,574
Other time deposits		492,222			487,068			442,066			435,131			423,951			420,600			395,684			374,550
Total deposits	$	2,058,818		$	1,912,719		$	1,823,806		$	1,803,181		$	1,765,611		$	1,740,564		$	1,764,774		$	1,699,212
NONPERFORMING ASSETS
Nonaccrual loans	$	19,534		$	26,291		$	22,633		$	26,978		$	26,735		$	23,913		$	23,135		$	23,555
90 days past due and accruing		10,037			2,803			1,625			2,462			2,622			7,090			3,293			1,763
Total nonperforming loans		29,571			29,094			24,258			29,440			29,357			31,003			26,428			25,318
Other real estate owned		2,679			1,654			1,508			1,869			1,873			1,878			2,143			7,124
Total nonperforming assets	$	32,250		$	30,748		$	25,766		$	31,309		$	31,230		$	32,881		$	28,571		$	32,442
ALLOWANCE ACTIVITY
Balance, beginning of period	$	28,314		$	28,054		$	27,728		$	27,293		$	28,064		$	26,341		$	24,760		$	23,812
Charge offs		1,290			2,105			1,875			1,728			3,643			1,630			1,844			1,808
Recoveries		96			216			94			302			305			347			109			80
Net charge offs		1,194			1,889			1,781			1,426			3,338			1,283			1,735			1,728
Provision for loan losses		2,464			2,149			2,107			1,861			2,567			3,006			3,316			2,676
Balance, end of period	$	29,584		$	28,314		$	28,054		$	27,728		$	27,293		$	28,064		$	26,341		$	24,760
REGULATORY CAPITAL DATA
Tier I capital	$	251,741		$	248,961		$	251,460		$	244,862		$	241,399		$	237,421		$	231,721		$	225,595
Total capital		284,526			279,031			278,799			269,513			266,097			261,521			254,894			248,014
Total risk adjusted assets		2,597,295			2,374,152			2,123,862			1,967,001			1,968,119			1,894,750			1,847,635			1,788,001
COMMON STOCK
Issued		14,658,042			14,658,042			14,658,042			14,658,042			14,658,042			14,658,042			14,658,042			14,658,042
Less treasury shares		(300,833	)		(321,991	)		(329,570	)		(385,632	)		(417,535	)		(433,308	)		(484,774	)		(524,867	)
Outstanding shares		14,357,209			14,336,051			14,328,472			14,272,410			14,240,507			14,224,734			14,173,268			14,133,175
INTANGIBLE ASSET DATA
Goodwill	$	7,542		$	6,742		$	1,213		$	1,213		$	1,213		$	1,098		$	194		$	194
Core deposit intangible		2,814			2,879			1,466			1,531			1,595			1,659			—			—
Mortgage servicing rights		1,503			1,431			1,428			1,413			1,436			1,385			1,351			1,343
Nonmortgage servicing rights		24			25			32			37			38			25			48			53
Total intangible assets	$	11,883		$	11,077		$	4,139		$	4,194		$	4,282		$	4,167		$	1,593		$	1,590
Intangible amortization expense	$	159		$	161		$	165		$	162		$	162		$	143		$	95		$	93

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