Southwest Bancorp (OKSB) 8-K Southwest Bancorp Reports First Quarter 2008 Earnings per Share of $0.36

EXHIBIT 99

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

Southwest Bancorp Reports First Quarter 2008 Earnings per Share of $0.36

     April 17, 2008, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market—OKSB), (“Southwest”), today reported net income of $5.2 million, or $0.36 per diluted share for the first quarter 2008, up $0.05 or 16% from the first and fourth quarter of 2007. At March 31, 2008, total assets were $2.7 billion.

     Rick Green, President and Chief Executive Officer, stated, “Our strategic vision includes growth from existing and additional offices in Oklahoma and in carefully selected markets in Texas and other states with emphasis on healthcare and health professionals, businesses and their managers and owners, commercial and commercial real estate borrowers, careful expansion of our community banking operations, and increases in stable funding sources at reasonable cost.

     “Our strategy produced significant loan growth in the first quarter. Our portfolio loans grew $142.0 million, up 7%, from year-end 2007, led by increases in healthcare and other commercial real estate lending in Oklahoma and Texas. A portion of the net growth was the result of a first quarter reduction in the customary levels of early payoffs of commercial real estate and commercial loans, which we believe reflected a decrease in competition for refinancings from conduits and other non-depository lenders. We anticipate seeing movement toward more traditional unscheduled payoff levels, and currently expect somewhat slower net loan growth in the remainder of 2008.

     “The positive earnings effect of our loan growth continued to be offset by the significant margin squeeze that began last year. Quarterly net interest margin of 3.45% was down 89 basis points from first quarter 2007. As a result, net interest income declined $907,000, or 4%. We also increased our provision for loan losses by $375,000, or 20%, in the first quarter of 2008 compared to the same quarter in 2007. Other significant factors in the first quarter comparisons include the VISA USA public offering completed in the quarter, which added $1.8 million in income before taxes, a $1.1 million increase in salary and employee benefits expenses, and a $2.6 million decrease in general and administrative expense, largely due to last year’s ATM-related write-off.

     “The validity of our strategic decision not to rely on any significant amounts of residential mortgages and not to make subprime loans was reinforced by market events. Subprime lending has never been a part of our strategy and one to four family mortgages account for less than 5% of our portfolio.”

     Please see the following discussion and financial tables and the disclosures under the heading “Forward-Looking Statements” on page 3.

Financial Overview

     Condition.Total assets were $2.7 billion at March 31, 2008, an increase of 4% from $2.6 billion at December 31, 2007. At March 31, 2008 total loans were $2.4 billion, versus $2.2 billion at December 31, 2007. Non-performing assets to total assets were 1.21% at March 31, 2008 compared to 1.43% at March 31, 2007 and 1.26% at December 31, 2007. Of total non-performing assets, 38.8% are commercial real estate loans, 37.4% are commercial loans, 10.3% is other real estate owned, 8.4% are real estate construction loans, 4.9% are residential real estate mortgages, and other consumer loans are less than 1%. The allowance for loan losses as a percentage of portfolio loans was 1.31% at March 31, 2008, versus 1.66% at March 31, 2007 and 1.38% at December 31, 2007.

NASDAQ: OKSB

Southwest Bancorp Reports First Quarter 2008 Earnings per Share of $0.36

     Total deposits were $2.1 billion at March 31, 2008, up $36.3 million from December 31, 2007. On March 31, 2008, 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.

     First Quarter Results. Net interest income totaled $21.8 million for the first quarter of 2008, compared to $22.7 million for the first quarter of 2007. Net interest margin was 3.45% for the first quarter of 2008 compared to 3.89% for the fourth quarter of 2007 and 4.34% for the first quarter of 2007. The decrease in net interest income and net interest margin is the result of Southwest’s interest rate sensitivity position and the margin squeeze produced by governmental actions designed to lower market interest rates in the wake of the subprime and liquidity crisis. Yields on earning assets decreased by 143 basis points from the first quarter 2007, while rates paid on interest bearing liabilities decreased by only 73 basis points.

     The provision for loan losses totaled $2.2 million for the first quarter of 2008, compared to $1.9 million for the first quarter of 2007. Net charge offs totaled $1.9 million, or 0.33% (annualized) of portfolio loans at March 31, 2008, compared to $1.4 million, or 0.35% (annualized) of portfolio loans at March 31, 2007.

     Noninterest income totaled $4.7 million for the first quarter of 2008, compared to $3.3 million for the same quarter of 2007. The increase in noninterest income from 2007 was mainly the result of a $1.7 million increase in gain on investment securities, due mainly from shares redeemed in connection with the VISA public offering, and a $222,000 increase in service charges and fees, offset in part by decreases in gains from the sale of loans of $368,000 and other noninterest income of $173,000.

     Noninterest expense decreased $1.0 million from the first quarter 2007 to the first quarter of 2008 to $15.8 million. The decrease consists of a $1.1 million increase in salaries and employee benefits, a $330,000 increase in FDIC and other insurance, a $79,000 increase in other real estate expense, and a $55,000 increase in occupancy expense, offset by a $2.6 million decrease in general and administrative expenses, which reflects last year’s $2.5 million ATM-related write-off and includes the provision for unfunded loan commitments.

     The efficiency ratio for the first quarter of 2008 improved to 59.69%, from 64.60% for the first quarter of 2007.

     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 write-off of the $2.5 million receivable. The financial statements also reflect related legal expenses incurred by Southwest of $61,000 during the first quarter of 2008 and approximately $785,000 during the year 2007 of which $300,000 was incurred in the first quarter 2007. Southwest filed its proof of loss with the insurer on August 6, 2007 and has no further information with which to update its estimate of ultimate recovery.

     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. In March 2008, VISA completed an initial public offering. This transaction allowed VISA to place part of the cash proceeds into an escrow which will be utilized to pay litigation and settlement expenses. Southwest’s portion of this escrow is approximately $566,000 which is reflected in the first quarter 2008 financial statements as a reduction to general and administrative expense and related payable established in the fourth quarter 2007. These amounts are an estimate and further adjustments 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,

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NASDAQ: OKSB

Southwest Bancorp Reports First Quarter 2008 Earnings per Share of $0.36

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.

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 loan growth, performing and 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, the effects on general economic conditions in our market of recent subprime and other consumer lending problems, 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.

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NASDAQ: OKSB

Southwest Bancorp Reports First Quarter 2008 Earnings per Share of $0.36

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
Summary Financial Data by Quarter-2008 and 2007	Table 5
Supplemental Analytical Data by Quarter-2008 and 2007	Table 6

4

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

	First Quarter									Fourth Quarter
							%						%
QUARTERLY HIGHLIGHTS	2008			2007			Change			2007			Change
Operations
Net interest income	$	21,807		$	22,714			(4	)%	$	23,507			(7	)%
Provision for loan losses		2,236			1,861			20			2,464			(9	)
Noninterest income		4,714			3,340			41			4,100			15
Noninterest expense		15,830			16,831			(6	)		17,673			(10	)
Income before taxes		8,455			7,362			15			7,470			13
Taxes on income		3,247			2,862			13			2,949			10
Net income		5,208			4,500			16			4,521			15
Diluted earnings per share		0.36			0.31			16			0.31			16
Balance Sheet
Total assets		2,671,842			2,194,179			22			2,564,537			4
Loans held for sale		66,364			108,025			(39	)		66,275			0
Portfolio loans		2,287,606			1,667,195			37			2,145,557			7
Total deposits		2,094,927			1,803,181			16			2,058,818			2
Total shareholders’ equity		225,417			201,777			12			217,609			4
Book value per share		15.52			14.14			10			15.16			2
Key Ratios
Net interest margin		3.45	%		4.34	%					3.89	%
Efficiency ratio (GAAP-based)		59.69			64.60						64.02
Nonperforming loans to total loans		1.23			1.66						1.34
Shareholders’ equity to total assets		8.44			9.20						8.49
Return on average assets		0.80			0.83						0.72
Return on average equity		9.42			9.04						8.24

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

	March 31,			December 31,			March 31,
	2008			2007			2007
Assets
Cash and due from banks	$	37,569		$	45,678		$	29,542
Federal funds sold		—			—			69,700
Cash and cash equivalents		37,569			45,678			99,242
Investment securities:
Held to maturity. Fair value: $8,411 $5,838 $4,286		8,339			5,838			4,332
Available for sale. Amortized cost: $212,937 $236,707 $258,678		216,272			237,358			257,329
Federal Reserve and FHLB Stock, at cost		13,216			13,116			12,445
Loans held for sale		66,364			66,275			108,025
Loans receivable		2,287,606			2,145,557			1,667,195
Less: Allowance for loan losses		(29,950	)		(29,584	)		(27,728	)
Net loans receivable		2,257,656			2,115,973			1,639,467
Accrued interest receivable		15,631			23,117			21,774
Premises and equipment, net		24,006			24,323			21,945
Other real estate owned		3,328			2,679			1,869
Goodwill		7,071			7,064			1,213
Other intangible assets, net		4,205			4,580			2,981
Other assets		18,185			18,297			23,557
Total assets	$	2,671,842		$	2,564,298		$	2,194,179
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	248,315		$	257,067		$	251,777
Interest-bearing demand		71,450			63,323			63,741
Money market accounts		553,850			541,950			394,668
Savings accounts		13,808			13,032			11,196
Time deposits of $100,000 or more		690,421			690,985			646,668
Other time deposits		517,083			492,222			435,131
Total deposits		2,094,927			2,058,579			1,803,181
Accrued interest payable		8,520			11,441			11,764
Income tax payable		4,647			1,766			—
Other liabilities		9,425			10,154			7,852
Other borrowings		282,513			218,356			123,212
Subordinated debentures		46,393			46,393			46,393
Total liabilities		2,446,425			2,346,689			1,992,402
Shareholders’ equity
Common stock — $1 par value; 20,000,000 shares authorized; 14,658,042 shares issued		14,658			14,658			14,658
Paid in capital		45,784			46,478			46,314
Retained earnings		165,318			161,482			148,574
Accumulated other comprehensive gain (loss)		2,064			408			(826	)
Treasury stock, at cost, 133,605 300,833 385,632 shares		(2,407	)		(5,417	)		(6,943	)
Total shareholders’ equity		225,417			217,609			201,777
Total liabilities and shareholders’ equity	$	2,671,842		$	2,564,298		$	2,194,179

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

	For the three months
	ended March 31,
	2008		2007
Interest income
Loans	$	40,610	$	40,286
Investment securities		2,336		2,679
Other interest-earning assets		28		65
Total interest income		42,974		43,030
Interest expense
Interest-bearing deposits		18,254		17,223
Other borrowings		2,029		2,131
Subordinated debentures		884		962
Total interest expense		21,167		20,316
Net interest income		21,807		22,714
Provision for loan losses		2,236		1,861
Net interest income after provision for loan losses		19,571		20,853
Noninterest income
Service charges and fees		2,457		2,235
Gain on sales of loans		840		1,208
Gain (loss) on investment securities		1,245		(448	)
Other noninterest income		172		345
Total noninterest income		4,714		3,340
Noninterest expense
Salaries and employee benefits		9,222		8,125
Occupancy		2,458		2,403
FDIC and other insurance		453		123
Other real estate, net		10		(69	)
General and administrative		3,687		6,249
Total noninterest expenses		15,830		16,831
Income before taxes		8,455		7,362
Taxes on income		3,247		2,862
Net income	$	5,208	$	4,500
Basic earnings per common share	$	0.36	$	0.32
Diluted earnings per common share		0.36		0.31
Cash dividends declared per share		0.0950		0.0925

Table 4

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

	For the three months ended March 31,
	2008								2007
	Average					Average			Average					Average
	Balance			Interest		Yield/Rate			Balance			Interest		Yield/Rate
Assets
Loans	$	2,304,966		$	40,610		7.09	%	$	1,846,844		$	40,286		8.85	%
Investment securities		236,575			2,336		3.97			272,139			2,679		3.99
Other interest-earning assets		2,763			28		4.08			5,210			65		5.06
Total interest-earning assets		2,544,304			42,974		6.79			2,124,193			43,030		8.22
Other assets		73,166								81,727
Total assets	$	2,617,470							$	2,205,920
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits	$	72,734		$	141		0.78	%	$	60,462		$	81		0.54	%
Money market accounts		546,034			4,528		3.34			371,496			3,962		4.33
Savings accounts		13,463			22		0.66			11,106			20		0.73
Time deposits		1,208,782			13,563		4.51			1,078,439			13,160		4.95
Total interest-bearing deposits		1,841,013			18,254		3.99			1,521,503			17,223		4.59
Other borrowings		238,811			2,029		3.42			175,514			2,131		4.92
Subordinated debentures		46,393			884		7.54			46,393			962		8.29
Total interest-bearing liabilities		2,126,217			21,167		4.00			1,743,410			20,316		4.73
Noninterest-bearing demand deposits		247,241								238,532
Other liabilities		21,756								22,080
Shareholders’ equity		222,256								201,898
Total liabilities and shareholders’ equity	$	2,617,470							$	2,205,920
Net interest income and spread				$	21,807		2.79	%				$	22,714		3.49	%
Net interest margin (1)							3.45	%							4.34	%
Average interest-earning assets to average interest-bearing liabilities		119.66	%							121.84	%

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

SOUTHWEST BANCORP, INC.	Table 5
UNAUDITED SUMMARY FINANCIAL DATA
(Dollars in thousands except per share)

	2008		2007
	Mar. 31		Dec. 31		Sep. 30			Jun. 30			Mar. 31
OPERATIONS
Interest income:
Loans	$	40,610	$	43,549	$	42,346		$	39,578		$	40,286
Investment securities		2,336		2,713		2,816			2,847			2,679
Other interest-earning assets		28		35		39			115			65
Total interest income		42,974		46,297		45,201			42,540			43,030
Interest expense:
Interest bearing demand deposits		141		94		82			98			81
Money market accounts		4,528		5,370		5,589			4,743			3,962
Savings accounts		22		22		24			21			20
Time deposits of $100,000 or more		7,865		7,873		7,445			7,781			8,132
Other time deposits		5,698		5,840		5,684			5,250			5,028
Total interest-bearing deposits		18,254		19,199		18,824			17,893			17,223
Other borrowings		2,029		2,620		1,715			1,089			2,131
Subordinated debentures		884		971		986			975			962
Total interest expense		21,167		22,790		21,525			19,957			20,316
Net interest income		21,807		23,507		23,676			22,583			22,714
Provision for loan losses		2,236		2,464		2,149			2,107			1,861
Other income:
Service charges and fees		2,457		2,831		2,548			2,306			2,235
Gain on sales of loans		840		783		548			800			1,208
Gain (loss) on investment securities		1,245		5		108			1,919			(448	)
Other noninterest income		172		481		452			429			345
Total other income		4,714		4,100		3,656			5,454			3,340
Other expense:
Salaries and employee benefits		9,222		9,838		8,966			8,358			8,125
Occupancy		2,458		2,540		2,514			2,388			2,403
FDIC and other insurance		453		225		134			140			123
Other real estate, net		10		64		(12	)		(41	)		(69	)
Unfunded loan commitment		145		368		675			151			(65	)
Other general and administrative		3,542		4,638		3,885			3,812			6,314
Total other expenses		15,830		17,673		16,162			14,808			16,831
Income before taxes		8,455		7,470		9,021			11,122			7,362
Taxes on income		3,247		2,949		3,505			4,281			2,862
Net income	$	5,208	$	4,521	$	5,516		$	6,841		$	4,500
PER SHARE DATA
Basic earnings per common share	$	0.36	$	0.32	$	0.38		$	0.48		$	0.32
Diluted earnings per common share		0.36		0.31		0.38			0.47			0.31
Cash dividends declared per share		0.0950		0.0925		0.0925			0.0925			0.0925
Book value per share		15.52		15.16		14.92			14.53			14.14
Tangible book value per share		15.03		14.66		14.45			14.44			14.05
Weighted average shares outstanding:
Basic earnings per common share		14,413,686		14,353,910		14,335,008			14,299,111			14,263,698
Diluted		14,608,190		14,584,878		14,612,732			14,644,863			14,642,913
OTHER FINANCIAL DATA
Investment securities	$	237,827	$	256,312	$	293,222		$	278,034		$	274,106
Loans held for sale		66,364		66,275		78,417			73,011			108,025
Portfolio loans		2,287,606		2,145,557		1,933,223			1,769,528			1,667,195
Total loans		2,353,970		2,211,832		2,011,640			1,842,539			1,775,220
Total assets		2,671,842		2,564,298		2,386,852			2,196,005			2,194,179
Total deposits		2,094,927		2,058,579		1,912,719			1,823,806			1,803,181
Other borrowings		282,513		218,356		190,847			95,561			123,212
Subordinated debentures		46,393		46,393		46,393			46,393			46,393
Total shareholders’ equity		225,417		217,609		213,838			208,185			201,777
Mortgage servicing portfolio		145,028		141,680		136,294			134,444			134,259
Continued

SOUTHWEST BANCORP, INC.	Table 5
UNAUDITED SUMMARY FINANCIAL DATA	Continued
(Dollars in thousands except per share)

	2008			2007
	Mar. 31			Dec. 31			Sep. 30			Jun. 30			Mar. 31
PERFORMANCE RATIOS
Return on average assets		0.80	%		0.72	%		0.96	%		1.28	%		0.83	%
Return on average equity		9.42			8.24			10.29			13.26			9.04
Return on average tangible equity		9.94			8.86			10.88			13.70			9.23
Net interest margin		3.45			3.89			4.23			4.35			4.34
Dividends declared to net income		26.37			29.37			24.04			19.37			29.32
Effective tax rate		38.40			39.48			38.85			38.49			38.88
Efficiency ratio		59.69			64.02			59.13			52.82			64.60
ASSET QUALITY RATIOS
Nonperforming assets to total loans and other real estate owned		1.37	%		1.46	%		1.53	%		1.40	%		1.76	%
Nonperforming loans to total loans		1.23			1.34			1.45			1.32			1.66
Net loan charge-offs to average total loans		0.33			0.22			0.39			0.40			0.31
Allowance for loan losses to total loans		1.27			1.34			1.41			1.52			1.56
Allowance for loan losses to portfolio loans		1.31			1.38			1.46			1.59			1.66
Allowance for loan losses to nonperforming loans		103.49			100.04			97.32			115.65			94.18
CAPITAL RATIOS
Average total shareholders’ equity to average assets		8.49	%		8.80	%		9.30	%		9.64	%		9.15	%
Leverage ratio		9.91			10.23			10.92			11.73			11.12
Tier 1 capital to risk-weighted assets		9.47			9.71			10.49			11.84			12.44
Total capital to risk-weighted assets		10.72			10.97			11.76			13.13			13.68
SEGMENT LOANS*
Oklahoma banking	$	943,331		$	876,085		$	844,859		$	804,906		$	766,990
Texas banking		797,700			759,389			644,749			567,236			507,384
Kansas banking		287,339			282,846			251,131			198,228			206,405
Other states banking		259,236			227,237			192,484			199,158			186,416
Subtotal		2,287,606			2,145,557			1,933,223			1,769,528			1,667,195
Secondary market		66,364			66,275			78,417			73,011			108,025
Total loans	$	2,353,970		$	2,211,832		$	2,011,640		$	1,842,539		$	1,775,220
SEGMENT NET INCOME*
Oklahoma banking	$	2,503		$	3,080		$	3,759		$	4,820		$	4,278
Texas banking		2,406			1,701			1,638			1,568			1,643
Kansas banking		458			82			243			326			208
Other states banking		969			225			768			930			240
Subtotal		6,336			5,088			6,408			7,644			6,369
Secondary market		(174	)		114			33			197			753
Other operations		(954	)		(681	)		(925	)		(1,000	)		(2,622	)
Total net income	$	5,208		$	4,521		$	5,516		$	6,841		$	4,500
OFFICES AND EMPLOYEES
FTE Employees		467			489			484			457			443
ATM’s		40			43			43			38			39
Branches		17			17			17			15			15
Loan production offices		3			3			3			3			3
Assets per employee	$	5,721		$	5,244		$	4,932		$	4,805		$	4,953

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

*

In first quarter 2008, Southwest changed its segment disclosures to report Texas, Kansas and Other states separately. Portfolio loans are allocated based upon the state of the borrower, or the location of the real estate in the case of real estate loans. Loans included in the “Other states banking” segment are portfolio loans attributable to states other than Oklahoma, Texas, or Kansas, and primarily consist of healthcare and commercial real estate credits. These out of state loans are administered by offices in Oklahoma, Texas, or Kansas.

SOUTHWEST BANCORP, INC.	Table 6
UNAUDITED SUPPLEMENTAL ANALYTICAL DATA
(Dollars in thousands except per share)

	2008			2007
	Mar. 31			Dec. 31			Sep. 30			Jun. 30			Mar. 31
LOAN COMPOSITION
Real estate mortgage:
Commercial	$	846,757		$	750,047		$	608,409		$	564,813		$	582,440
One-to-four family residential		110,938			111,085			112,407			90,916			83,312
Real estate construction		744,090			724,929			659,214			617,993			517,199
Commercial		544,183			521,501			517,658			465,588			457,838
Installment and consumer:
Guaranteed student loans		63,706			61,555			73,810			68,117			101,905
Other		44,296			42,715			40,142			35,112			32,526
Total loans, including held for sale		2,353,970			2,211,832			2,011,640			1,842,539			1,775,220
Less allowance for loan losses		(29,950	)		(29,584	)		(28,314	)		(28,054	)		(27,728	)
Total loans, net	$	2,324,020		$	2,182,248		$	1,983,326		$	1,814,485		$	1,747,492
By statement of condition category:
Loans held for sale:
Student loans	$	63,706		$	61,555		$	73,810		$	68,117		$	101,905
One-to-four family residential		1,417			3,442			3,293			3,382			4,113
Other		1,241			1,278			1,314			1,512			2,007
Total loans held for sale		66,364			66,275			78,417			73,011			108,025
Portfolio loans		2,287,606			2,145,557			1,933,223			1,769,528			1,667,195
Total loans before allowance	$	2,353,970		$	2,211,832		$	2,011,640		$	1,842,539		$	1,775,220
DEPOSIT COMPOSITION
Non-interest bearing demand	$	248,315		$	257,067		$	261,634		$	248,285		$	251,777
Interest-bearing demand		71,450			63,323			63,145			63,758			63,741
Money market accounts		553,850			541,950			505,192			487,096			394,668
Savings accounts		13,808			13,032			14,830			11,017			11,196
Time deposits of $100,000 or more		690,421			690,985			580,850			571,584			646,668
Other time deposits		517,083			492,222			487,068			442,066			435,131
Total deposits	$	2,094,927		$	2,058,579		$	1,912,719		$	1,823,806		$	1,803,181
NONPERFORMING ASSETS
Nonaccrual loans	$	26,134		$	19,534		$	26,291		$	22,633		$	26,978
90 days past due and accruing		2,807			10,037			2,803			1,625			2,462
Total nonperforming loans		28,941			29,571			29,094			24,258			29,440
Other real estate loans		3,328			2,679			1,654			1,508			1,869
Total nonperforming assets	$	32,269		$	32,250		$	30,748		$	25,766		$	31,309
Potential nonperforming loans	$	69,588		$	61,633		$	70,389		$	69,595		$	52,335
ALLOWANCE ACTIVITY
Balance, beginning of period	$	29,584		$	28,314		$	28,054		$	27,728		$	27,293
Charge offs		2,044			1,290			2,105			1,875			1,728
Recoveries		174			96			216			94			302
Net charge offs		1,870			1,194			1,889			1,781			1,426
Provision for loan losses		2,236			2,464			2,149			2,107			1,861
Balance, end of period	$	29,950		$	29,584		$	28,314		$	28,054		$	27,728
REGULATORY CAPITAL DATA
Tier I capital	$	258,272		$	251,980		$	248,961		$	251,460		$	244,862
Total capital		292,567			284,730			279,031			278,799			269,513
Total risk adjusted assets		2,728,622			2,595,090			2,374,152			2,123,862			1,967,001
COMMON STOCK
Issued		14,658,042			14,658,042			14,658,042			14,658,042			14,658,042
Less treasury shares		(133,605	)		(300,833	)		(321,991	)		(329,570	)		(385,632	)
Outstanding shares		14,524,437			14,357,209			14,336,051			14,328,472			14,272,410
INTANGIBLE ASSET DATA
Goodwill	$	7,071		$	7,064		$	6,742		$	1,213		$	1,213
Core deposit intangible		2,893			3,053			2,879			1,466			1,531
Mortgage servicing rights		1,290			1,503			1,431			1,428			1,413
Nonmortgage servicing rights		22			24			25			32			37
Total intangible assets	$	11,276		$	11,644		$	11,077		$	4,139		$	4,194
Intangible amortization expense	$	257		$	159		$	161		$	165		$	162

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