Southwest Bancorp (OKSB) 8-K Southwest Bancorp Reports First Quarter 2009 Results; Portfolio Loans Grow $32 Million

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

Southwest Bancorp Reports First Quarter 2009 Results; Portfolio Loans Grow $32 Million

     April 16, 2009, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market—OKSB), (“Southwest”), today reported net income available to common shareholders of $296,000, or $0.02 per diluted share for the first quarter 2009, compared to $5.2 million, or $0.36 per diluted share for the first quarter of 2008, and $3.0 million, or $0.20 per diluted share for the fourth quarter of 2008. At March 31, 2009, total assets were $2.9 billion.

     “We know that 2009 will be a challenging year, but we continue to focus on our strategic goal of building long-term shareholder value as we work through these difficult times,” stated Rick Green, President and Chief Executive Officer.

     “During the first quarter, we continued to follow our strategic vision of prudent loan growth in carefully selected markets in Texas, Oklahoma and Kansas; careful expansion of our community banking operations; and continued our focus on building liquidity. In the quarter, we increased portfolio loans by $31.8 million, up 1%, from year-end 2008 and increased our core deposits by $105.3 million, up 8%.

     “In early 2008, we decided to increase capital resources to support our operations during the uncertain economic conditions ahead. By March 31, 2009, we had increased our shareholders’ equity to $300.4 million, up $76.3 million, or 34%, over March 31, 2008, and our capital ratios substantially exceeded the levels for regulatory classification as “well-capitalized”.

     “The decrease in first quarter net income available to common shareholders is the result of an increase in the provision for loan losses, a decrease in net interest income, and dividends on the preferred stock we issued late last year. The changes in net interest income and the provision for loan losses were driven mainly by economic conditions that adversely affect our net interest margin and the value of commercial real estate securing loans. These negative factors were partially offset by decreases in income taxes and personnel expenses and an increase in gains on sale of investment securities.”

     Please review the following “Financial Overview” and the accompanying tables for important additional information regarding our results and plans.

Financial Overview

     Condition: Total assets were $2.9 billion at March 31, 2009, an increase of 2% from December 31, 2008. At March 31, 2009 total loans were $2.6 billion, also an increase of 2% from December 31, 2008.

     At March 31, 2009, the allowance for loan losses was $46.3 million, up 54% from March 31, 2008 and up 16% from year-end 2008, and represented 1.83% of portfolio loans versus 1.31% at March 31, 2008 and 1.59% at December 31, 2008. 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. The provision for loan losses increased by $8.6 million, or 387%, over the provision for the first quarter of 2008.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Reports First Quarter 2009 Results; Portfolio Loans Grow $32 Million

     Nonperforming assets to portfolio loans and other real estate owned were 3.53% at March 31, 2009 compared to 1.41% at March 31, 2008 and 2.80% at December 31, 2008. A breakdown of portfolio loans and nonperforming assets by type are shown in the following table:

			Percentage of					Percentage of
	Portfolio		total portfolio			Nonperforming		nonperforming
(dollars in thousands)	loans		loans			assets		assets
Real estate construction	$	719,056		28.46	%	$	41,213		46.16	%
Commercial real estate		1,097,923		43.46			28,452		31.87
Commercial		558,834		22.12			13,368		14.97
Other real estate owned		—		—			5,351		5.99
Residential real estate mortgages		108,548		4.30			466		0.52
Other consumer loans		41,932		1.66			436		0.49
Total	$	2,526,293		100.00	%	$	89,286		100.00	%

     Nonaccrual loans, which are the majority of nonperforming assets, were $73.4 million as of March 31, 2009, an increase of $14.1 million from December 31, 2008. These loans are carried at their estimated collectible amounts and no longer accrue interest. The increase in nonaccrual loans is primarily due to three collateral dependent lending relationships that are secured by real estate. Loans 90 days or more past due, another component of nonperforming assets, increased $5.9 million from December 31, 2008. These loans are deemed to have sufficient collateral and are in the process of being collected. Performing loans considered potential problem 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, amounted to approximately $133.8 million at March 31, 2009, an increase of $2.3 million from December 31, 2008. These loans are subject to continuing management attention and are considered by management in determining the level of the allowance for loan losses.

     Total deposits were $2.3 billion at March 31, 2009, up $150.0 million from December 31, 2008. Core deposits were 64% of total deposits or $1.5 billion, an increase of $105.3 million, or 8%, from December 31, 2008. At March 31, 2009, wholesale funding accounted for 21% of total funding compared to 24% at December 31, 2008.

     On March 31, 2009, Southwest exceeded all applicable regulatory capital requirements, having a total risk-based capital ratio of 14.11%, a Tier 1 risk-based capital ratio of 12.85%, and a leverage ratio of 12.72%. Southwest and each of its banking subsidiaries met the criteria for regulatory classification as “well-capitalized”. Southwest’s capital exceeded the minimum to be classified as “well-capitalized” by $118.1 million. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators.

     First Quarter Results:

     Summary: The decrease in our net income available to common shareholders from the first quarter of 2008 was the result of an $8.6 million increase in the provision for loan losses, a $795,000 decrease in net interest income, a $538,000 increase in FDIC insurance and other insurance expense, and $875,000 in quarterly dividends on the preferred stock that we issued in December 2008, offset in part by a $2.5 million decrease in income tax expense, a $2.0 million decrease in personnel costs, and a $1.7 million increase in gain on sale of investment securities.

     Net Interest Income:Net interest income totaled $21.0 million for the first quarter of 2009 compared to $21.8 million for the first quarter of 2008 and $22.4 million for the fourth quarter of 2008. Net interest margin was 3.00% for the first quarter of 2009 compared to 3.45% for the first quarter of 2008, and 3.22% for the fourth quarter of 2008. The yield on earning assets decreased more rapidly than the rates paid on interest bearing liabilities.

     Provision for Loan Losses: The provision for loan losses totaled $10.9 million for the first quarter of 2009 compared to $2.2 for the first quarter of 2008 and $6.7 million for the fourth quarter of 2008. Net charge offs totaled $4.4 million, or 0.71% (annualized) of average portfolio loans for the first quarter of 2009, compared to $1.9 million, or 0.34% (annualized) and to $2.7 million, or 0.44% (annualized) of average portfolio loans, for the first and fourth quarters of 2008, respectively.

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NASDAQ: OKSB
OKSBP

Southwest Bancorp Reports First Quarter 2009 Results; Portfolio Loans Grow $32 Million

     Noninterest Income: Noninterest income totaled $6.5 million for the first quarter of 2009 compared to $4.7 million for the first quarter of 2008. The increase in noninterest income from the first quarter of 2008 was the result of a $1.7 million increase in gain on sale of investment securities and a $143,000 increase in service charges and fee income, offset in part by a $122,000 decrease in gain on sale of loans.

     Noninterest Expense: Noninterest expense decreased $1.2 million from the first quarter 2008 to the first quarter of 2009 to $14.6 million. The decrease consists of a $2.0 million decrease in personnel expense and an $112,000 decrease in other real estate expense, offset by a $538,000 increase in FDIC and other insurance expense, a $273,000 increase in occupancy expense, and a $108,000 increase in other general and administrative expenses.

     The efficiency ratio for the first quarter of 2009 improved to 53.06% from 59.69% and 53.37% for the first and fourth quarters of 2008, respectively.

Southwest Bancorp and Subsidiaries

     Southwest Bancorp is the financial holding company for Stillwater National Bank and Trust Company, Bank of Kansas, 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, Edmond, 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 and a community banking model focused on more traditional banking operations in Texas, Oklahoma, and Kansas. Southwest’s strategic growth goals include prudent growth from existing and additional offices in carefully selected markets 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.

     We plan to reduce the percentage of commercial real estate loans to total portfolio loans in view of current economic conditions. Our plan focuses on reductions in particular subcategories of commercial real estate loans that are identified in our regular real estate market reviews. In general, and with some exceptions regarding locations and particular types of facilities, we do not intend to decrease healthcare related commercial or mortgage lending or commercial mortgage lending on owner-occupied properties that otherwise meet our underwriting criteria.

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

Forward-Looking Statements

     This Press 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 market risk or interest rate 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: the amount and time 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 its future results.

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NASDAQ: OKSB
OKSBP

Southwest Bancorp Reports First Quarter 2009 Results; Portfolio Loans Grow $32 Million

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 Summary Financial Data by Quarter-2009 and 2008	Table 5
Unaudited Supplemental Analytical Data by Quarter-2009 and 2008	Table 6

4

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

	First Quarter									Fourth Quarter
							%						%
QUARTERLY HIGHLIGHTS	2009			2008			Change			2008			Change
Operations
Net interest income	$	21,038		$	21,833			(4	)%	$	22,414			(6	)%
Provision for loan losses		10,882			2,236			387			6,698			62
Noninterest income		6,477			4,688			38			3,429			89
Noninterest expense		14,599			15,830			(8	)		13,793			6
Income before taxes		2,034			8,455			(76	)		5,352			(62	)
Taxes on income		705			3,247			(78	)		2,127			(67	)
Net income		1,329			5,208			(74	)		3,225			(59	)
Net income available to common shareholders		296			5,208			(94	)		3,012			(90	)
Diluted earnings per share		0.02			0.36			(94	)		0.20			(90	)
Balance Sheet
Total assets		2,928,133			2,670,580			10			2,879,762			2
Loans held for sale		76,404			66,364			15			56,941			34
Portfolio loans		2,526,293			2,287,606			10			2,494,506			1
Total deposits		2,330,089			2,094,927			11			2,180,122			7
Total shareholders’ equity		300,406			224,155			34			302,203			(1	)
Book value per share		16.01			15.43			4			16.18			(1	)
Key Ratios
Net interest margin		3.00	%		3.45	%					3.22	%
Efficiency ratio (GAAP-based)		53.06			59.69						53.37
Total capital to risk-weighted assets		14.11			10.69						14.26
Nonperforming loans to portfolio loans		3.32			1.27						2.56
Shareholders’ equity to total assets		10.26			8.39						10.49
Tangible common equity to total assets		7.75			8.13						7.94
Return on average assets		0.18			0.80						0.45
Return on average equity		1.77			9.43						5.11

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

	March 31,			December 31,			March 31,
	2009			2008			2008
Assets
Cash and due from banks	$	50,655		$	27,287		$	37,569
Investment securities:
Held to maturity. Fair value: $7,388 $7,293, $8,411		7,344			7,343			8,339
Available for sale. Amortized cost: $151,686 $233,293, $209,111		152,826			238,037			210,382
Other investments, at cost		18,836			18,786			17,338
Loans held for sale		76,404			56,941			66,364
Loans receivable		2,526,293			2,494,506			2,287,606
Less: Allowance for loan losses		(46,262	)		(39,773	)		(29,950	)
Net loans receivable		2,480,031			2,454,733			2,257,656
Accrued interest receivable		10,524			11,512			15,631
Premises and equipment, net		24,098			24,580			24,006
Other real estate owned		5,351			6,092			3,328
Goodwill		7,071			7,071			7,071
Other intangible assets, net		3,868			3,764			4,205
Other assets		91,125			23,616			18,691
Total assets	$	2,928,133		$	2,879,762		$	2,670,580
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	274,175		$	261,940		$	248,315
Interest-bearing demand		85,629			76,027			71,450
Money market accounts		467,924			454,250			553,850
Savings accounts		15,797			14,135			13,808
Time deposits of $100,000 or more		849,814			802,244			690,421
Other time deposits		636,750			571,526			517,083
Total deposits		2,330,089			2,180,122			2,094,927
Accrued interest payable		6,391			7,018			8,520
Income tax payable		5,938			3,651			4,647
Other liabilities		9,607			9,667			9,425
Other borrowings		193,739			295,138			282,513
Subordinated debentures		81,963			81,963			46,393
Total liabilities		2,627,727			2,577,559			2,446,425
Shareholders’ equity
Preferred stock, Series B — $1,000 par value; 1,250,000 shares authorized; 70,000 shares issued		66,549			66,392			—
Common stock — $1 par value; 20,000,000 shares authorized; 14,658,042 shares issued		14,658			14,658			14,658
Paid in capital		48,851			49,101			45,784
Retained earnings		170,528			170,579			165,318
Accumulated other comprehensive income		720			2,921			802
Treasury stock, at cost, 49,930, 80,383, 133,605 shares		(900	)		(1,448	)		(2,407	)
Total shareholders’ equity		300,406			302,203			224,155
Total liabilities and shareholders’ equity	$	2,928,133		$	2,879,762		$	2,670,580

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

	For the three months
	ended March 31,
	2009				2008
Interest income
Loans	$	33,268			$	40,610
Investment securities		2,512				2,336
Other interest-earning assets		6				28
Total interest income		35,786				42,974
Interest expense				��
Interest-bearing deposits		12,060				18,254
Other borrowings		1,284				2,029
Subordinated debentures		1,404				858
Total interest expense		14,748				21,141
Net interest income		21,038				21,833
Provision for loan losses		10,882				2,236
Net interest income after provision for loan losses		10,156				19,597
Noninterest income
Service charges and fees		2,600				2,457
Gain on sales of loans		718				840
Gain on investment securities		2,921				1,245
Other noninterest income		238				146
Total noninterest income		6,477				4,688
Noninterest expense
Salaries and employee benefits		7,239				9,222
Occupancy		2,731				2,458
FDIC and other insurance		991				453
Other real estate, net		(102	)			10
General and administrative		3,740				3,687
Total noninterest expenses		14,599				15,830
Income before taxes		2,034				8,455
Taxes on income		705				3,247
Net income	$	1,329			$	5,208
Net income available to common shareholders	$	296			$	5,208
Basic earnings per common share	$	0.02			$	0.36
Diluted earnings per common share		0.02				0.36
Common dividends declared per share		0.0238				0.0950

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

	For the three months ended March 31,
	2009								2008
	Average					Average			Average					Average
	Balance			Interest		Yield/Rate			Balance			Interest		Yield/Rate
Assets
Loans	$	2,595,124		$	33,268		5.20	%	$	2,304,966		$	40,610		7.09	%
Investment securities		248,499			2,512		4.10			236,848			2,336		3.97
Other interest-earning assets		2,785			6		0.87			2,763			28		4.08
Total interest-earning assets		2,846,408			35,786		5.10			2,544,577			42,974		6.79
Other assets		68,949								72,879
Total assets	$	2,915,357							$	2,617,456
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits	$	88,714		$	153		0.70	%	$	72,734		$	141		0.78	%
Money market accounts		469,428			1,353		1.17			546,034			4,528		3.34
Savings accounts		15,074			9		0.24			13,463			22		0.66
Time deposits		1,442,587			10,545		2.96			1,208,782			13,563		4.51
Total interest-bearing deposits		2,015,803			12,060		2.43			1,841,013			18,254		3.99
Other borrowings		236,464			1,284		2.20			238,811			2,029		3.42
Subordinated debentures		81,963			1,404		6.85			46,393			858		7.40
Total interest-bearing liabilities		2,334,230			14,748		2.56			2,126,217			21,141		4.00
Noninterest-bearing demand deposits		256,493								247,241
Other liabilities		19,405								21,756
Shareholders’ equity		305,229								222,242
Total liabilities and shareholders’ equity	$	2,915,357							$	2,617,456
Net interest income and spread				$	21,038		2.54	%				$	21,833		2.79	%
Net interest margin (1)							3.00	%							3.45	%
Average interest-earning assets to average interest-bearing liabilities		121.94	%							119.68	%

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

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

	2009			2008
	Mar. 31			Dec. 31			Sep. 30			Jun. 30		Mar. 31
OPERATIONS
Interest income:
Loans	$	33,268		$	36,183		$	38,441		$	37,485	$	40,610
Investment securities		2,512			2,693			2,531			2,426		2,336
Other interest-earning assets		6			19			22			20		28
Total interest income		35,786			38,895			40,994			39,931		42,974
Interest expense:
Interest bearing demand deposits		153			130			147			166		141
Money market accounts		1,353			2,132			2,898			3,062		4,528
Savings accounts		9			11			17			19		22
Time deposits of $100,000 or more		5,980			6,419			6,879			7,051		7,865
Other time deposits		4,565			4,571			4,457			4,809		5,698
Total interest-bearing deposits		12,060			13,263			14,398			15,107		18,254
Other borrowings		1,284			1,487			1,839			1,887		2,029
Subordinated debentures		1,404			1,731			1,569			653		858
Total interest expense		14,748			16,481			17,806			17,647		21,141
Net interest income		21,038			22,414			23,188			22,284		21,833
Provision for loan losses		10,882			6,698			6,855			3,190		2,236
Noninterest income:											��
Service charges and fees		2,600			2,908			2,849			2,812		2,457
Gain on sales of loans		718			620			601			603		840
Gain (loss) on investment securities		2,921			(296	)		(50	)		3		1,245
Other noninterest income		238			197			662			541		146
Total noninterest income		6,477			3,429			4,062			3,959		4,688
Noninterest expense:
Salaries and employee benefits		7,239			6,389			8,863			8,856		9,222
Occupancy		2,731			2,844			2,968			2,602		2,458
FDIC and other insurance		991			645			469			521		453
Other real estate, net		(102	)		31			(92	)		197		10
Provision for unfunded loan commitments		90			385			90			15		145
Other general and administrative		3,650			3,499			4,235			4,141		3,542
Total noninterest expenses		14,599			13,793			16,533			16,332		15,830
Income before taxes		2,034			5,352			3,862			6,721		8,455
Taxes on income		705			2,127			1,556			2,559		3,247
Net income	$	1,329		$	3,225		$	2,306		$	4,162	$	5,208
Net income available to common shareholders	$	296		$	2,982		$	2,306		$	4,162	$	5,208
PER SHARE DATA
Basic earnings per common share	$	0.02		$	0.21		$	0.16		$	0.29	$	0.36
Diluted earnings per common share		0.02			0.20			0.16			0.28		0.36
Common dividends declared per share		0.0238			0.9500			0.0950			0.0950		0.0950
Book value per share		16.01			16.18			15.56			15.49		15.43
Tangible book value per share		15.52			15.69			15.08			15.00		14.95
OTHER FINANCIAL DATA
Investment securities	$	179,006		$	264,166		$	241,728		$	234,429	$	236,059
Loans held for sale		76,404			56,941			72,248			62,892		66,364
Portfolio loans		2,526,293			2,494,506			2,440,091			2,381,893		2,287,606
Total loans		2,602,697			2,551,447			2,512,339			2,444,785		2,353,970
Total assets		2,928,133			2,879,762			2,832,371			2,773,013		2,670,580
Total deposits		2,330,089			2,180,122			2,198,719			2,211,001		2,094,927
Other borrowings		193,739			295,138			299,118			265,614		282,513
Subordinated debentures		81,963			81,963			81,963			46,393		46,393
Total shareholders’ equity		300,406			302,203			226,123			224,949		224,155
Mortgage servicing portfolio		179,959			158,143			153,250			147,672		145,028

Continued

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

	2009				2008
	Mar. 31				Dec. 31			Sep. 30			Jun. 30			Mar. 31
PERFORMANCE RATIOS
Return on average assets (annualized)		0.18	%			0.45	%		0.33	%		0.62	%		0.80	%
Return on average common equity (annualized)		1.77				5.15			3.97			7.38			9.43
Return on average tangible equity (annualized)		1.83				5.79			4.26			7.86			9.94
Net interest margin		3.00				3.22			3.39			3.38			3.45
Total dividends declared to net income available to common shareholders		92.00				50.49			59.85			33.16			26.37
Effective tax rate		34.66				39.74			40.29			38.07			38.40
Efficiency ratio		53.06				53.37			60.67			62.23			59.69
ASSET QUALITY RATIOS
Nonperforming assets to portfolio loans and other real estate owned		3.53	%			2.80	%		2.72	%		1.45	%		1.41	%
Nonperforming loans to portfolio loans		3.32				2.56			2.62			1.35			1.27
Net loan charge-offs to average portfolio loans		0.71				0.44			0.39			0.31			0.34
Allowance for loan losses to total loans		1.78				1.56			1.43			1.28			1.27
Allowance for loan losses to portfolio loans		1.83				1.59			1.47			1.32			1.31
Allowance for loan losses to nonperforming loans		55.12				62.16			56.07			97.62			103.49
CAPITAL RATIOS
Average total shareholders’ equity to average assets		10.47	%			8.85	%		8.26	%		8.35	%		8.49	%
Leverage ratio		12.72				13.06			10.51			9.66			9.91
Tier 1 capital to risk-weighted assets		12.85				13.01			10.49			9.40			9.47
Total capital to risk-weighted assets		14.11				14.26			11.88			10.65			10.69
LOANS BY SEGMENT
Oklahoma banking	$	949,454			$	966,243		$	962,611		$	965,952		$	943,331
Texas banking		990,135				947,603			892,998			857,160			797,700
Kansas banking		309,774				304,855			288,268			277,887			287,339
Other states banking		276,930				275,805			296,214			280,894			259,236
Subtotal		2,526,293				2,494,506			2,440,091			2,381,893			2,287,606
Secondary market		76,404				56,941			72,248			62,892			66,364
Total loans	$	2,602,697			$	2,551,447		$	2,512,339		$	2,444,785		$	2,353,970
NET INCOME BY SEGMENT
Oklahoma banking	$	3,210			$	3,783		$	3,295		$	2,923		$	2,503
Texas banking		1,119				2,036			1,332			1,777			2,406
Kansas banking		598				(204	)		(1,336	)		(40	)		458
Other states banking		(1,974	)			(89	)		848			1,028			969
Subtotal		2,953				5,526			4,139			5,688			6,336
Secondary market		(61	)			139			(149	)		40			(174	)
Other operations		(1,563	)			(2,440	)		(1,684	)		(1,566	)		(954	)
Net income	$	1,329			$	3,225		$	2,306		$	4,162		$	5,208
OFFICES AND EMPLOYEES
FTE Employees		425		��		442			458			463			467
ATM’s		40				41			41			40			40
Branches		18				18			18			17			17
Loan production offices		3				3			3			3			3
Assets per employee	$	6,890			$	6,515		$	6,184		$	5,989		$	5,719

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

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

	2009			2008
	Mar. 31			Dec. 31			Sep. 30			Jun. 30			Mar. 31
LOAN COMPOSITION
Real estate mortgage:
Commercial	$	1,098,587		$	1,118,828		$	1,077,601		$	991,679		$	846,757
One-to-four family residential		114,111			113,665			116,270			118,056			110,938
Real estate construction
Commercial		640,132			579,795			554,496			583,784			654,039
One-to-four family residential		79,309			79,565			79,843			82,972			90,051
Commercial		558,834			564,670			574,087			566,830			544,183
Installment and consumer:
Guaranteed student loans		69,792			54,057			67,610			57,413			63,706
Other		41,932			40,867			42,432			44,051			44,296
Total loans, including held for sale		2,602,697			2,551,447			2,512,339			2,444,785			2,353,970
Less allowance for loan losses		(46,262	)		(39,773	)		(35,807	)		(31,341	)		(29,950	)
Total loans, net	$	2,556,435		$	2,511,674		$	2,476,532		$	2,413,444		$	2,324,020
By statement of condition category:
Loans held for sale:
Student loans	$	69,791		$	54,057		$	67,610		$	57,413		$	63,706
One-to-four family residential		5,563			1,790			3,500			4,283			1,417
Other		1,050			1,094			1,138			1,196			1,241
Total loans held for sale		76,404			56,941			72,248			62,892			66,364
Portfolio loans		2,526,293			2,494,506			2,440,091			2,381,893			2,287,606
Total loans before allowance	$	2,602,697		$	2,551,447		$	2,512,339		$	2,444,785		$	2,353,970
DEPOSIT COMPOSITION
Non-interest bearing demand	$	274,175		$	261,940		$	280,453		$	299,699		$	248,315
Interest-bearing demand		85,629			76,027			70,471			81,415			71,450
Money market accounts		467,924			454,250			554,357			548,099			553,850
Savings accounts		15,797			14,135			14,452			13,809			13,808
Time deposits of $100,000 or more		849,814			802,244			731,773			740,174			690,421
Other time deposits		636,750			571,526			547,213			527,805			517,083
Total deposits	$	2,330,089		$	2,180,122		$	2,198,719		$	2,211,001		$	2,094,927
NONPERFORMING ASSETS
Nonaccrual loans	$	73,383		$	59,310		$	61,557		$	30,861		$	26,134
90 days past due and accruing		10,552			4,673			2,299			1,242			2,807
Total nonperforming loans		83,935			63,983			63,856			32,103			28,941
Other real estate owned		5,351			6,092			2,685			2,523			3,328
Total nonperforming assets	$	89,286		$	70,075		$	66,541		$	34,626		$	32,269
Potential nonperforming loans	$	133,810		$	131,516		$	86,070		$	71,070		$	69,588
ALLOWANCE ACTIVITY
Balance, beginning of period	$	39,773		$	35,807		$	31,341		$	29,950		$	29,584
Charge offs		4,810			3,254			2,752			1,892			2,044
Recoveries		417			522			363			93			174
Net charge offs		4,393			2,732			2,389			1,799			1,870
Provision for loan losses		10,882			6,698			6,855			3,190			2,236
Balance, end of period	$	46,262		$	39,773		$	35,807		$	31,341		$	29,950
REGULATORY CAPITAL DATA
Tier I capital	$	369,482		$	369,049		$	293,141		$	261,354		$	258,272
Total capital		405,613			404,695			332,012			296,166			291,638
Total risk adjusted assets		2,875,286			2,837,473			2,793,843			2,780,538			2,727,853
COMMON STOCK
Issued		14,658,042			14,658,042			14,658,042			14,658,042			14,658,042
Less treasury shares		(49,930	)		(80,383	)		(129,586	)		(131,566	)		(133,605	)
Outstanding shares		14,608,112			14,577,659			14,528,456			14,526,476			14,524,437
INTANGIBLE ASSET DATA
Goodwill	$	7,071		$	7,071		$	7,071		$	7,071		$	7,071
Core deposit intangible		2,498			2,596			2,693			2,792			2,893
Mortgage servicing rights		1,362			1,159			1,417			1,354			1,299
Nonmortgage servicing rights		8			9			10			11			13
Total intangible assets	$	10,939		$	10,835		$	11,191		$	11,228		$	11,276
Intangible amortization expense	$	204		$	214		$	212		$	215		$	257

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