c594d0ace6ea4cd

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 21, 2014

SOUTHWEST BANCORP, INC.

(Exact name of registrant as specified in its charter)


Oklahoma	001-34110	73-1136584
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


608 South Main Street, Stillwater, Oklahoma		74074
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (405) 742-1800

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On January 21, 2014, Southwest Bancorp, Inc. (the “Company”) issued a press release reporting its results of operations and its financial condition for the year and quarter ended December 31, 2013. The text of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K.

Item 8.01. Other Events.

On Wednesday, January 22, 2014, at 8:30 a.m. Central Time, the Company will host an investor conference call and webcast to review its fourth quarter 2013 financial results. The webcast will include a slide presentation which consists of information regarding the Company's operating and growth strategies and financial performance. The presentation materials will be posted on the Company's website on January 22, 2014. The presentation materials are attached hereto as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits:

99.1:Press Release dated January 21, 2014

99.2:Presentation materials

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

January 21, 2014

SOUTHWEST BANCORP, INC.

By: /s/ Mark W. Funke
Name: Mark W. Funke
Title: President and CEO

Exhibit Index


Exhibit No.	Description	Method of Filing

99.1	Press Release dated January 21, 2014	Filed herewith electronically
99.2	Presentation materials	Filed herewith electronically

For additional information:
           Mark W. Funke
           President & CEO
           Joe T. Shockley, Jr.
           EVP & CFO
           (405) 372-2230

For Immediate Release

Southwest Bancorp, Inc. Reports Fourth Quarter 2013 Results

and Announces Quarterly Dividend

January 21, 2014, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market - OKSB), (“Southwest”), today reported net income available to common shareholders for the fourth quarter of 2013 of $6.8 million, or $0.34 per diluted share, compared to $3.8 million, or $0.19 per diluted share, for the third quarter of 2013. Net income available to common shareholders for the year ended December 31, 2013 totaled $17.4 million, or $0.88 per diluted share, compared to $12.4 million, or $0.64 per diluted share, for the year ended December 31, 2012.

Southwest’s board of directors reinstated quarterly common stock dividends with their approval of a quarterly cash dividend of $0.04 per share.  The dividend is payable February 14, 2014 to shareholders of record as of February 3, 2014.

Mark Funke, President and CEO, stated, “We are pleased to report strong earnings for the fourth quarter and the year 2013.  Our net earnings were boosted by improved asset quality and loan recoveries combined with the impact of the redemption of our 10.5% Trust Preferred Securities, that was completed in the previous quarter.

“Our balance sheet remains solid with good liquidity and exceptionally strong capital.  We reinstated common dividends and completed the rebranding on our subsidiary bank, Bank SNB, simultaneously with the successful charter consolidation of our two subsidiary banks.

“Subsequent to the end of fourth quarter, we announced an agreement to sell three community bank branches in Kansas in an effort to consolidate our geographic footprint and focus appropriately on our future strategic direction. We remain committed to growing our Kansas franchise in the Wichita and Hutchinson markets.

This quarter’s positive results represent continue progress as we focus on future growth opportunities and on delivering the highest quality service and products to our customers.”

Financial Overview

Unless otherwise indicated, the following discussion excludes “covered” assets, which are subject to loss sharing agreements with the FDIC.  For information on covered versus noncovered assets, please see the accompanying unaudited financial statement and tables.

Condition: At December 31, 2013, total assets were $2.0 billion, up $9.1 million compared to September 30, 2013. Cash and cash equivalents were $279.8 million, with $251.8 million in overnight funds, up $34.5 million when compared to September 30, 2013. Total loans were $1.2 billion, down $33.2 million when compared to September 30, 2013, and total investment securities were $394.2 million as of December 31, 2013, an increase of $12.2 million compared September 30, 2013.

At December 31, 2013, the allowance for loan losses was $36.6 million, a decrease of $3.4 million when compared to September 30, 2013.  The allowance for loan losses to portfolio loans was 2.93% as of December 31,

2013 and 3.12% as of September 30, 2013.  The allowance for loan losses to nonperforming loans was 196.67% as of December 31, 2013, compared to 137.03% as of September 30, 2013.

Nonperforming loans decreased by $10.6 million during the quarter.  Other real estate at December 31, 2013 was $0.6 million, flat when compared to September 30, 2013 and a decrease of $10.8 million from December 31, 2012. Nonperforming assets were $19.2 million, or 1.53% of portfolio loans and other real estate, as of December 31, 2013, a decrease of $10.7 million (36%) from $29.9 million, or 2.33% of portfolio loans and other real estate, as of September 30, 2013.

Total core funding, which includes all non-brokered deposits and sweep repurchase agreements, comprised 98% of total funding as of December 31, 2013 and September 30, 2013. Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 2% of total funding at December 31, 2013 and September 30, 2013. See Table 7 for details on core funding and non-brokered deposits, which are non-GAAP financial measures.

The capital ratios of Southwest and its banking subsidiary, as of December 31, 2013, exceeded the criteria for regulatory classification as “well-capitalized”.  Southwest’s total regulatory capital was $310.9 million, for a total risk-based capital ratio of 21.59%, and Tier 1 capital was $292.1 million, for a Tier 1 risk-based capital ratio of 20.28%.  Southwest’s capital exceeded the minimum to be classified as “well-capitalized” by $166.9 million. Bank SNB, Southwest’s banking subsidiary, had total regulatory capital of $284.4 million, for a total risk-based capital ratio of 19.83%, and Tier 1 capital of $266.1 million, for a Tier 1 risk-based capital ratio of 18.56%.  Stillwater National Bank exceeded the minimum to be classified as “well-capitalized” by $141.0 million.  Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators.

Fourth Quarter Results:

Summary: For the fourth quarter of 2013, net income available to common shareholders was $6.8 million, compared to $3.8 million for the third quarter of 2013, and $1.0 million for the fourth quarter of 2012. The $3.0 million increase in net income available to common shareholders compared to the third quarter of 2013 is primarily due to improved asset quality and recoveries resulting in a negative provision for loan losses of $6.5 million.  Net interest income increased $1.4 million due in part to loan recoveries and lower interest expense driven by the redemption near the end of the third quarter of the 10.5% Trust Preferred Securities.  Noninterest income was down $0.5 million from third quarter, while noninterest expense was up $2.0 million due in part to the charter consolidation and rebranding of our subsidiary bank.  The effective tax rate was 38.68% in the fourth quarter of 2013 compared to 38.01% in the third quarter of 2013 and the increase is due to certain deferred tax adjustments.

The $5.9 million increase in our net income available to common shareholders compared to the fourth quarter of 2012 is again the result of improved asset quality and recoveries resulting in a $9.6 million decrease in the provision for loan losses.  Net interest income decreased $0.6 million compared to the fourth quarter of 2012 due to lower loan volumes and reduced yields.  Noninterest income decreased $1.8 million and noninterest expense decreased $2.6 million both as compared to the fourth quarter of 2012.

Net Interest Income: Net interest income totaled $16.6 million for the fourth quarter of 2013, compared to $15.3 million for the third quarter of 2013, an increase of $1.4 million, or 9%, and to $17.3 million for the fourth quarter of 2012, a decrease of $0.6 million, or 4%. The increase during the fourth quarter of 2013 includes the recognition of $0.9 million in interest from the recovery of a nonperforming loan and the reduction in interest expense due to the redemption of the 10.5% Trust Preferred Securities. Net interest margin was 3.42% for the fourth quarter of 2013, compared to 3.11% for the third quarter of 2013 and 3.41% for the fourth quarter of 2012. Noncovered loans (including loans held for sale) declined $33.2 million, or 3%, from September 30, 2013, and $98.6 million, or 7%, from December 31, 2012, primarily due to a decline in commercial real estate loans.

Provision for Loan Losses and Net Charge-offs: The provision for loan losses is the amount that is required to maintain the allowance for losses at an appropriate level based upon the inherent risks in the loan portfolio after the effects of net charge-offs or net recoveries for the period.  The provision for loan losses was a credit (or negative provision) of $6.5 million for the fourth quarter of 2013, compared to a negative provision of $0.3 million for the third quarter of 2013 and a provision of $3.1 million for the fourth quarter of 2012. During the fourth quarter of 2013, recoveries totaled $5.8 million and charge-offs totaled $2.7 million, which had been substantially allowed for in the loan loss reserve.  Therefore the fourth quarter of 2013 net recoveries totaled $3.1 million, or (0.96%)

(annualized) of average portfolio loans, compared to net recoveries of $0.1 million, or (0.02%) (annualized) of average portfolio loans for the third quarter of 2013, and net charge-offs of $0.1 million, or 0.03% (annualized) of average portfolio loans for the fourth quarter of 2012.

Noninterest Income: Noninterest income totaled $3.1 million for the fourth quarter, compared to $3.5 million for the third quarter of 2013, and compared to $4.9 million for the fourth quarter of 2012.

The $0.5 million decrease from third quarter of 2013 is primarily due to the $0.3 million decline in other noninterest income, which included a legal settlement that was received in the third quarter of 2013, and the $0.2 million decline in gain on sale of loans.

The $1.8 million decrease from fourth quarter 2012 includes a $0.8 million decrease in gain on investment securities, a $0.5 million decrease in the gain on sales of loans, a $0.3 million decrease in service charges and fees, and a $0.1 million decrease in other noninterest income.

Noninterest Expense: Noninterest expense totaled $15.1 million for the fourth quarter of 2013, compared to $13.0 million for the third quarter of 2013 and $17.7 million for the fourth quarter of 2012.

The $2.0 million increase in noninterest expense from third quarter of 2013 primarily consists of a $1.4 million increase in general and administrative expense, which primarily consists of increased legal fees and increased marketing and other miscellaneous expenses associated with our recent charter consolidation and rebranding of our subsidiary bank.  Also included in the increase from third quarter of 2013 is a $0.7 million increase in other real estate expense and a $0.4 million increase in personnel expense, offset in part by a $0.6 million decrease in the provision for unfunded loan commitments.

The $2.6 million decrease in noninterest expense from fourth quarter of 2012 consists of a $2.5 million decrease in other real estate expense due to decreased expenses and write-downs as a result of fewer other real estate properties.  Also included in the decline from fourth quarter of 2012 is a $0.8 million decrease in provision for unfunded loan commitments, offset in part by a $0.6 million increase in general and administrative expense, which is primarily the result of increased legal fees, and marketing expenses and miscellaneous expenses associated with our charter consolidation and rebranding of our subsidiary bank.

Income Tax: Income tax expense totaled $4.3 million for the fourth quarter of 2013, compared to $2.3 million for the third quarter of 2013 and $0.4 million for the fourth quarter of 2012.  The income tax expense fluctuates in relation to pre-tax income levels.  The fourth quarter of 2013 effective tax rate was 38.68%.

Year-to-date Results:

Summary: Net income available to common shareholders was $17.4 million for the year ended December 31, 2013, compared to $12.4 million for the year ended December 31, 2012.  The $5.0 million increase in our net income available to common shareholders from December 31, 2012 is primarily due to improved asset quality and recoveries resulting in a decrease in the provision of loan losses of $10.3 million and a reduction in noninterest expense of $8.0 million due largely to lower other real estate expenses.  These improvements were partially offset by the decline in net interest income due to lower loan volumes and lower noninterest income. Southwest’s effective tax rate was 38.15% in 2013 versus 37.91% in 2012.  Southwest also paid dividends on its preferred stock of $3.7 million in 2012 before it was redeemed in August 2012.

Net Interest Income: Net interest income totaled $62.7 million for 2013, compared to $76.6 million for 2012, a decrease of $13.9 million, or 18%.  Lower average loan volume was the primary cause of this decrease.  Year-to-date net interest margin was 3.19%, compared to 3.64% for 2012. With the rate environment remaining low, earning assets are repricing at lower rates.

Provision for Loan Losses and Net Charge-offs: The provision for loan losses is the amount of expense that is required to maintain the allowance for losses at an appropriate level based upon the inherent risks in the loan portfolio after the effects of net charge-offs for the period. The provision for loan losses was a credit (or negative provision) of $7.2 million for 2013, compared to an expense of $3.1 million for 2012.  Net charge-offs totaled $2.8 million, or 0.22% (annualized) of average portfolio loans as of December 31, 2013, compared to $1.1 million, or 0.07% (annualized) of average portfolio loans as of December 31, 2012.

Noninterest Income: Noninterest income totaled $13.6 million for 2013, compared to $15.9 million for 2012. The decrease consists of a $1.1 million decline in service charges and fees, a $0.8 million decline in gain on investment securities, and a $0.5 million decrease in gain on sale of loans.

Noninterest Expense: Noninterest expense totaled $55.3 million for 2013, compared to $63.3 million for 2012.  The decrease consists of a $7.7 million decrease in other real estate expense, which is primarily due to net gains recognized on the sale of other real estate properties combined with decreased expenses associated with other real estate properties.  Also included in the decline is a $1.0 million decrease in general and administrative expense, which is primarily the result of lower legal fees, consulting fees, other loan costs, and bank exam fees, a $0.8 million decrease in FDIC and other insurance expense, and a $0.7 million decrease in provision for unfunded loan commitments, offset in part by a $2.0 million increase in personnel expense and a $0.2 million increase in occupancy expense, primarily increased data processing charges.

Income Tax: Income tax expense totaled $10.8 million for 2013, compared to $9.9 million for 2012.  The income tax expense fluctuates in relation to pre-tax income levels.  The year-to-date effective tax rate was 38.15% as of December 31, 2013.

Conference Call

Southwest will host a conference call to review these results on Wednesday, January 22, 2014 at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).  Investors, news media, and others may access the call by telephone at 888-317-6016 (toll-free) or 412-317-6016 (international).  Participants are encouraged to dial into the call approximately 10 minutes prior to the start time.  The call and corresponding presentation slides will be webcast live on Southwest’s website at www.oksb.com or http://services.choruscall.com/links/oksb140122.html.  An audio replay will be available one hour after the call at 877-344-7529 (toll-free) or 412-317-0088 (international), conference number 10038921.  Telephone replay access will be available until 9:00 a.m. Eastern Time on February 6, 2014.

Southwest Bancorp and Subsidiaries

Southwest is the bank holding company for Bank SNB, National Association (“Bank SNB”). Through Bank SNB, commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services are offered from offices in Oklahoma, Texas, and Kansas. Bank SNB was chartered in 1894 and Southwest was organized in 1981 as the holding company.  At December 31, 2013, Southwest had total assets of $2.0 billion, deposits of $1.6 billion, and shareholders’ equity of $259.2 million.

Southwest’s area of expertise focuses on the special financial needs of healthcare and health professionals, businesses and their managers and owners, commercial lending, energy banking, and commercial real estate borrowers. The strategic focus on healthcare lending was established in 1974. Southwest and its subsidiary provide credit and other services, such as deposits, cash management, and document imaging for physicians and other healthcare practitioners to start or develop their practices and finance the development and purchase of medical offices, clinics, surgical care centers, hospitals, and similar facilities.  As of December 31, 2013, approximately $417.4 million, or 33%, of noncovered loans were loans to individuals and businesses in the healthcare industry. Regular market reviews are conducted of current and potential healthcare lending business and the appropriate concentrations within healthcare based upon economic and regulatory conditions.

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

Caution About Forward-Looking Statements

Southwest makes forward-looking statements in this news release that are subject to risks and uncertainties. These statements are intended to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include:

·

Statements of Southwest's goals, intentions, and expectations;

·

Estimates of risks and of future costs and benefits;

·

Expectations regarding Southwest’s future financial performance and the financial performance of its operating segments;

·

Expectations regarding regulatory actions;

·

Expectations regarding Southwest’s ability to utilize tax loss benefits;

·

Assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs;

·

Estimates of the value of assets held for sale or available for sale; 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 timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters. These other matters include, among other things, the direct and indirect effects of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators.  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 future results.  For other factors, risks, and uncertainties that could cause actual results to differ materially from estimates and projections contained in forward-looking statements, please read Southwest’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2012.  You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors”.

The cautionary statements in this release also identify important factors and possible events that involve risk and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements.  These forward-looking statements speak only as of the date on which the statements were made. Southwest does not intend, and undertakes no obligation, to update or revise any forward-looking statements contained in this release, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting such statements, except as required by law.

Southwest is required under generally accepted accounting principles to evaluate subsequent events and their impact, if any, on its financial statements as of December 31, 2013 through the date its financial statements are filed with the Securities and Exchange Commission.  The December 31, 2013 financial statements included in this release will be adjusted if necessary to properly reflect the impact of subsequent events on estimates used to prepare those statements.

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 Average Balances, Yields, and Rates-Year-to-date

Table 5

Unaudited Quarterly Summary Loan Data

Table 6

Unaudited Quarterly Summary Financial Data

Table 7

Unaudited Quarterly Supplemental Analytical Data

Table 8

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

Table 1

Fourth Quarter

Third Quarter

Fourth Quarter

QUARTERLY HIGHLIGHTS

2013

% Change

2012

% Change

Operations

Net interest income

$

16,637

$

15,273

9%

$

17,285

(4)%

Provision for loan losses

(6,502)

(329)

1,876

3,085

(311)

Noninterest income

3,068

3,547

(14)

4,871

(37)

Noninterest expense

15,065

13,019

16

17,653

(15)

Income before taxes

11,142

6,130

82

1,418

686

Taxes on income

4,310

2,330

85

446

866

Net income

6,832

3,800

80

972

603

Net income available to common shareholders

6,832

3,800

80

972

603

Diluted earnings per share

0.34

0.19

79

0.05

580

Balance Sheet

Total assets

1,981,423

1,972,367

0

2,122,255

(7)

Loans held for sale

3,060

3,641

(16)

31,682

(90)

Noncovered portfolio loans

1,251,416

1,284,004

(3)

1,321,346

(5)

Covered portfolio loans

16,427

18,980

(13)

25,707

(36)

Total deposits

1,584,086

1,583,791

0

1,709,578

(7)

Total shareholders' equity

259,187

252,802

3

246,056

5

Book value per common share

13.13

12.83

2

12.60

4

Key Ratios

Net interest margin

3.42%

3.11%

3.41%

Efficiency ratio

76.45

69.18

79.68

Total capital to risk-weighted assets

21.59

21.52

21.56

Nonperforming loans to portfolio loans - noncovered

1.49

2.27

2.91

Shareholders' equity to total assets

13.08

12.82

11.59

Tangible common equity to tangible assets*

13.03

12.76

11.54

Return on average assets (annualized)

1.37

0.75

0.18

Return on average common equity (annualized)

10.59

5.99

1.56

Return on average tangible common equity (annualized)**

10.64

6.02

1.56

Year

YEAR-TO-DATE HIGHLIGHTS

2013

2012

% Change

Operations

Net interest income

$

62,650

$

76,563

(18)%

Provision for loan losses

(7,209)

3,107

(332)

Noninterest income

13,643

15,936

(14)

Noninterest expense

55,311

63,322

(13)

Income before taxes

28,191

26,070

8

Taxes on income

10,756

9,883

9

Net income

17,435

16,187

8

Net income available to common shareholders

17,435

12,446

40

Diluted earnings per share

0.88

0.64

38

Balance Sheet

Total assets

1,981,423

2,122,255

(7)

Loans held for sale

3,060

31,682

(90)

Noncovered portfolio loans

1,251,416

1,321,346

(5)

Covered portfolio loans

16,427

25,707

(36)

Total deposits

1,584,086

1,709,578

(7)

Total shareholders' equity

259,187

246,056

5

Book value per common share

13.13

12.60

4

Key Ratios

Net interest margin

3.19%

3.64%

Efficiency ratio (GAAP-based)

72.50

68.46

Total capital to risk-weighted assets

21.59

21.56

Nonperforming loans to portfolio loans - noncovered

1.49

2.91

Shareholders' equity to total assets

13.08

11.59

Tangible common equity to tangible assets*

13.03

11.54

Return on average assets (annualized)

0.86

0.72

Return on average common equity (annualized)

6.90

5.14

Return on average tangible common equity (annualized)**

6.94

5.16

Balance sheet amounts and ratios are as of period end unless otherwise noted.
* This is a Non-GAAP financial measure. Please see Table 8 for a reconciliation to the most directly comparable GAAP based measure.
** This is a Non-GAAP financial measure.
Please see accompanying tables for additional financial information.

SOUTHWEST BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands)

Table 2

December 31,

December 31,

2013

2012

Assets

Cash and due from banks

$

28,062

$

45,045

Interest-bearing deposits

251,777

243,034

Cash and cash equivalents

279,839

288,079

Securities held to maturity (fair values of $12,115. and $13,659, respectively)

11,720

12,797

Securities available for sale (amortized cost of $385,423, and $358,317, respectively)

382,479

364,315

Loans held for sale

3,060

31,682

Noncovered loans receivable

1,251,416

1,321,346

Less: Allowance for loan losses

(36,607)

(46,494)

Net noncovered loans receivable

1,214,809

1,274,852

Covered loans receivable (includes loss share: $1,812 and $6,714, respectively)

16,427

25,707

Less: Allowance for loan losses

(56)

(224)

Net covered loans receivable

16,371

25,483

Net loans receivable

1,231,180

1,300,335

Accrued interest receivable

5,335

6,365

Income tax receivable

-

24,525

Premises and equipment, net

20,833

21,691

Noncovered other real estate

560

11,315

Covered other real estate

2,094

3,643

Goodwill

1,214

1,214

Other intangible assets, net

4,980

4,864

Other assets

38,129

51,430

Total assets

$

1,981,423

$

2,122,255

Liabilities

Deposits:

Noninterest-bearing demand

$

444,796

$

424,008

Interest-bearing demand

120,156

112,012

Money market accounts

439,981

423,417

Savings accounts

41,727

37,693

Time deposits of $100,000 or more

251,185

351,273

Other time deposits

286,241

361,175

Total deposits

1,584,086

1,709,578

Accrued interest payable

832

1,116

Income tax payable

78

-

Other liabilities

10,215

13,180

Other borrowings

80,632

70,362

Subordinated debentures

46,393

81,963

Total liabilities

1,722,236

1,876,199

Shareholders' equity

Common stock - $1 par value; 40,000,000 shares authorized;

19,732,926, and 19,529,705, shares issued and outstanding, respectively

19,733

19,530

Additional paid-in capital

99,937

99,705

Retained earnings

142,528

125,093

Accumulated other comprehensive income (loss)

(3,011)

1,728

Total shareholders' equity

259,187

246,056

Total liabilities and shareholders' equity

$

1,981,423

$

2,122,255

SOUTHWEST BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands)

Table 3

For the three months ended

For the year

December 31,

September 30,

December 31,

ended December 31,

2013

2013

2012

2013

2012

Interest income

Loans

$

16,499

$

16,242

$

19,021

$

66,162

$

84,602

Investment securities

1,747

1,623

1,796

6,655

7,814

Other interest-earning assets

332

270

191

1,097

755

Total interest income

18,578

18,135

21,008

73,914

93,171

Interest expense

Interest-bearing deposits

1,148

1,317

2,014

5,559

9,703

Other borrowings

225

225

224

892

895

Subordinated debentures

568

1,320

1,485

4,813

6,010

Total interest expense

1,941

2,862

3,723

11,264

16,608

Net interest income

16,637

15,273

17,285

62,650

76,563

Provision for loan losses

(6,502)

(329)

3,085

(7,209)

3,107

Net interest income after provision for loan losses

23,139

15,602

14,200

69,859

73,456

Noninterest income

Service charges and fees

2,635

2,589

2,971

10,491

11,559

Gain on sales of loans

385

619

910

2,649

3,133

Gain on investment securities

-

-

802

-

837

Other noninterest income

48

339

188

503

407

Total noninterest income

3,068

3,547

4,871

13,643

15,936

Noninterest expense

Salaries and employee benefits

8,057

7,645

7,956

31,877

29,919

Occupancy

2,805

2,721

2,672

10,779

10,581

FDIC and other insurance

460

413

510

1,764

2,531

Other real estate, net

330

(387)

2,867

(1,098)

6,565

General and administrative

3,413

2,627

3,648

11,989

13,726

Total noninterest expense

15,065

13,019

17,653

55,311

63,322

Income before taxes

11,142

6,130

1,418

28,191

26,070

Taxes on income

4,310

2,330

446

10,756

9,883

Net income

$

6,832

$

3,800

$

972

$

17,435

$

16,187

Net income available to common shareholders

$

6,832

$

3,800

$

972

$

17,435

$

12,446

Basic earnings per common share

$

0.34

$

0.19

0.05

$

0.88

$

0.64

Diluted earnings per common share

0.34

0.19

0.05

0.88

0.64

Common dividends declared per share

-

-

-

-

-

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

Table 4

For the three months ended

December 31, 2013

September 30, 2013

Average

Average

Average

Average

Balance

Interest

Yield/Rate

Balance

Interest

Yield/Rate

Assets

Noncovered loans

$

1,270,307

$

16,186

5.06%

$

1,277,747

$

15,837

4.92%

Covered loans

18,180

313

6.83

20,271

405

7.93

Investment securities

390,160

1,747

1.78

364,746

1,623

1.76

Other interest-earning assets

253,327

332

0.52

287,968

270

0.37

Total interest-earning assets

1,931,974

18,578

3.82

1,950,732

18,135

3.69

Other assets

47,369

57,622

Total assets

$

1,979,343

$

2,008,354

Liabilities and Shareholders' Equity

Interest-bearing demand deposits

$

111,744

$

31

0.11%

$

117,124

$

35

0.12%

Money market accounts

426,090

182

0.17

416,839

182

0.17

Savings accounts

41,021

10

0.10

38,992

10

0.10

Time deposits

555,762

925

0.66

600,321

1,090

0.72

Total interest-bearing deposits

1,134,617

1,148

0.40

1,173,276

1,317

0.45

Other borrowings

78,933

225

1.13

75,822

225

1.18

Subordinated debentures

46,393

568

4.90

75,004

1,320

7.04

Total interest-bearing liabilities

1,259,943

1,941

0.61

1,324,102

2,862

0.86

Noninterest-bearing demand deposits

452,849

422,203

Other liabilities

10,564

10,319

Shareholders' equity

255,987

251,730

Total liabilities and shareholders' equity

$

1,979,343

$

2,008,354

Net interest income and spread

$

16,637

3.21%

$

15,273

2.83%

Net interest margin (1)

3.42%

3.11%

Average interest-earning assets

to average interest-bearing liabilities

153.34%

147.32%

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

SOUTHWEST BANCORP, INC.
UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES – YEAR-TO-DATE
(Dollars in thousands)

Table 5

For the year ended December 31,

2013

2012

Average

Average

Average

Average

Balance

Interest

Yield/Rate

Balance

Interest

Yield/Rate

Assets

Noncovered loans

$

1,293,596

$

64,555

4.99%

$

1,536,494

$

82,288

5.36%

Covered loans

21,405

1,607

7.51

30,824

2,314

7.51

Investment securities

377,460

6,655

1.76

350,021

7,814

2.23

Other interest-earning assets

272,940

1,097

0.40

187,478

755

0.40

Total interest-earning assets

1,965,401

73,914

3.76

2,104,817

93,171

4.43

Other assets

63,865

138,929

Total assets

$

2,029,266

$

2,243,746

Liabilities and Shareholders' Equity

Interest-bearing demand deposits

$

122,106

$

148

0.12%

$

114,974

$

219

0.19%

Money market accounts

420,767

790

0.19

381,292

1,077

0.28

Savings accounts

39,397

44

0.11

35,741

53

0.15

Time deposits

617,824

4,577

0.74

842,979

8,354

0.99

Total interest-bearing deposits

1,200,094

5,559

0.46

1,374,986

9,703

0.71

Other borrowings

74,115

892

1.20

61,822

895

1.45

Subordinated debentures

71,243

4,813

6.76

81,963

6,010

7.33

Total interest-bearing liabilities

1,345,452

11,264

0.84

1,518,771

16,608

1.09

Noninterest-bearing demand deposits

420,347

396,091

Other liabilities

10,925

45,368

Shareholders' equity

252,542

283,516

Total liabilities and shareholders' equity

$

2,029,266

$

2,243,746

Net interest income and spread

$

62,650

2.92%

$

76,563

3.34%

Net interest margin (1)

3.19%

3.64%

Average interest-earning assets

to average interest-bearing liabilities

146.08%

138.59%

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

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUMMARY LOAN DATA
(Dollars in thousands)

Table 6

2013

2012

Dec. 31

Sep. 30

Jun. 30

Mar. 31

Dec. 31

Sep. 30

Jun. 30

Mar. 31

LOAN COMPOSITION

Noncovered:

Real estate mortgage:

Commercial

$

740,997

$

743,858

$

786,686

$

819,873

$

870,977

$

898,453

$

931,239

$

996,486

One-to-four family residential

80,058

80,561

77,445

73,911

70,952

74,081

74,390

76,287

Real estate construction:

Commercial

143,650

162,995

158,907

139,462

130,753

206,342

211,098

222,678

One-to-four family residential

4,646

4,464

5,241

5,015

3,656

3,438

4,184

3,814

Commercial

254,087

263,598

235,667

232,224

240,498

244,018

263,085

273,324

Installment and consumer:

Guaranteed student loans

4,394

4,471

4,520

4,576

4,680

4,872

5,153

5,276

Other

26,644

27,698

27,977

28,553

31,512

32,710

33,555

31,766

Total noncovered loans, including held for sale

1,254,476

1,287,645

1,296,443

1,303,614

1,353,028

1,463,914

1,522,704

1,609,631

Less allowance for loan losses

(36,607)

(40,013)

(40,270)

(42,639)

(46,494)

(43,607)

(43,807)

(45,023)

Total noncovered loans, net

$

1,217,869

$

1,247,632

$

1,256,173

$

1,260,975

$

1,306,534

$

1,420,307

$

1,478,897

$

1,564,608

Covered:

Real estate mortgage:

Commercial

$

11,282

$

13,577

$

15,452

$

16,970

$

18,298

$

20,664

$

21,472

$

22,607

One-to-four family residential

3,930

4,084

4,253

4,458

4,881

5,059

5,432

5,766

Real estate construction:

Commercial

198

312

320

367

382

419

1,627

2,344

Commercial

971

967

1,554

1,715

2,037

1,937

2,033

2,401

Installment and consumer

46

40

67

91

109

118

148

196

Total covered loans

16,427

18,980

21,646

23,601

25,707

28,197

30,712

33,314

Less allowance for loan losses

(56)

(68)

(82)

(214)

(224)

(138)

(91)

(60)

Total covered loans, net

$

16,371

$

18,912

$

21,564

$

23,387

$

25,483

$

28,059

$

30,621

$

33,254

LOANS BY SEGMENT

Oklahoma banking

$

681,999

$

681,749

$

656,356

$

628,747

$

652,121

$

704,916

$

751,758

$

810,217

Texas banking

366,697

414,433

444,327

495,815

520,481

560,197

588,370

616,455

Kansas banking

198,992

206,802

210,189

195,355

174,451

192,249

189,292

177,508

Subtotal

1,247,688

1,302,984

1,310,872

1,319,917

1,347,053

1,457,362

1,529,420

1,604,180

Secondary market

23,215

3,641

7,217

7,298

31,682

34,749

23,996

38,765

Total loans

$

1,270,903

$

1,306,625

$

1,318,089

$

1,327,215

$

1,378,735

$

1,492,111

$

1,553,416

$

1,642,945

NONPERFORMING LOANS BY TYPE

Construction & development

$

2,721

$

5,659

$

5,989

$

6,409

$

3,355

$

3,436

$

3,608

$

3,768

Commercial real estate

6,564

12,203

12,325

13,362

18,337

20,576

4,932

6,821

Commercial

8,819

10,887

10,719

11,861

15,232

1,791

10,878

2,209

One-to-four family residential

456

396

418

651

1,310

949

1,125

1,508

Consumer

53

55

64

73

160

131

176

118

Total nonperforming loans - noncovered

$

18,613

$

29,200

$

29,515

$

32,356

$

38,394

$

26,883

$

20,719

$

14,424

NONPERFORMING LOANS BY SEGMENT

Oklahoma banking

$

5,547

$

3,279

$

1,678

$

2,000

$

2,956

$

4,369

$

2,979

$

3,550

Texas banking

11,902

24,963

26,294

28,817

33,756

19,940

14,894

5,703

Kansas banking

1,164

958

1,543

1,539

1,682

2,574

2,846

5,171

Total nonperforming loans - noncovered

$

18,613

$

29,200

$

29,515

$

32,356

$

38,394

$

26,883

$

20,719

$

14,424

OTHER REAL ESTATE BY TYPE

Construction & development

$

-

$

676

$

145

$

215

$

215

$

445

$

2,585

$

3,542

Commercial real estate

560

-

-

9,207

11,003

14,130

14,129

14,854

One-to-four family residential

-

-

-

-

97

108

549

933

Total other real estate - noncovered

$

560

$

676

$

145

$

9,422

$

11,315

$

14,683

$

17,263

$

19,329

Continued

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUMMARY LOAN DATA
(Dollars in thousands)

Table 6
Continued

2013

2012

Dec. 31

Sep. 30

Jun. 30

Mar. 31

Dec. 31

Sep. 30

Jun. 30

Mar. 31

OTHER REAL ESTATE BY SEGMENT

Oklahoma banking

$

-

$

-

$

-

$

1,980

$

3,393

$

6,178

$

6,178

$

6,273

Texas banking

-

-

-

7,227

7,227

7,227

9,162

9,846

Kansas banking

560

676

145

215

695

1,278

1,923

3,210

Total other real estate - noncovered

$

560

$

676

$

145

$

9,422

$

11,315

$

14,683

$

17,263

$

19,329

POTENTIAL PROBLEM LOANS BY TYPE

Construction & development

21,501

22,222

$

20,745

$

19,968

$

22,077

$

22,565

$

25,563

$

33,907

Commercial real estate

68,951

62,475

62,166

60,329

58,549

53,725

71,537

67,654

Commercial

7,107

10,028

10,136

8,220

12,526

9,305

12,753

23,506

One-to-four family residential

488

414

1,071

1,129

1,147

1,157

1,230

1,253

Consumer

-

-

-

-

62

-

-

-

Total potential problem loans - noncovered

$

98,047

$

95,139

$

94,118

$

89,646

$

94,361

$

86,752

$

111,083

$

126,320

POTENTIAL PROBLEM LOANS BY SEGMENT

Oklahoma banking

$

29,005

$

31,345

$

31,495

$

32,246

$

30,875

$

39,606

$

48,038

$

44,122

Texas banking

65,079

59,561

58,710

51,978

58,377

43,313

59,368

79,735

Kansas banking

3,963

4,233

3,913

5,422

5,109

3,833

3,677

2,463

Total potential problem loans - noncovered

$

98,047

$

95,139

$

94,118

$

89,646

$

94,361

$

86,752

$

111,083

$

126,320

LOANS OUT OF MARKET

Net balance of loans out of market:

Iowa

$

22,316

$

22,438

$

22,537

$

22,659

$

22,826

$

22,958

$

23,022

$

23,130

Arizona

19,458

30,516

31,564

33,017

40,326

41,255

39,449

34,749

North Carolina

13,070

10,161

300

407

65

604

682

771

Colorado

12,553

12,358

8,586

3,067

3,110

3,119

3,111

3,104

Kentucky

12,404

10,088

11,860

10,144

8,691

7,517

9,455

517

California

9,154

9,472

9,632

10,866

9,791

9,684

9,922

10,252

Mississippi

8,823

8,929

9,233

9,170

9,239

9,842

-

-

Tennessee

6,048

6,136

6,171

6,246

6,204

6,232

6,310

6,368

Ohio

3,549

3,294

4,759

4,132

10,438

11,182

11,502

12,650

Pennsylvania

3,109

3,299

3,441

44

-

-

-

-

Other

12,171

24,562

27,225

28,285

32,975

33,448

33,795

31,349

Total loans out of market

$

122,655

$

141,253

$

135,308

$

128,037

$

143,665

$

145,841

$

137,248

$

122,890

Nonperforming loans out of market:

Arizona

$

9,302

$

11,205

$

12,167

$

13,419

$

11,599

$

250

$

256

$

261

New York

-

1,033

1,048

-

-

-

-

-

Florida

252

258

264

270

275

281

287

293

Colorado

-

-

-

131

131

131

131

131

Other

-

-

1

-

59

-

-

-

Total nonperforming out of market

$

9,554

$

12,496

$

13,480

$

13,820

$

12,064

$

662

$

674

$

685

Potential problem loans out of market:

Iowa

$

11,568

$

11,645

$

11,719

$

11,792

$

11,868

$

11,941

$

11,970

$

12,035

New Jersey

1,094

1,170

1,244

-

-

-

-

-

California

482

499

512

524

536

548

559

570

Florida

66

71

75

80

85

90

95

100

Arizona

-

-

-

-

9,037

-

-

-

Total potential problem out of market

$

13,210

$

13,385

$

13,550

$

12,396

$

21,526

$

12,579

$

12,624

$

12,705

Continued

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUMMARY LOAN DATA
(Dollars in thousands)

Table 6
Continued

2013

2012

Dec. 31

Sep. 30

Jun. 30

Mar. 31

Dec. 31

Sep. 30

Jun. 30

Mar. 31

ALLOWANCE ACTIVITY

Balance, beginning of period

$

40,081

$

40,352

$

42,853

$

46,718

$

43,745

$

43,898

$

45,083

$

44,684

Charge offs

2,681

600

2,072

4,651

722

2,653

2,229

1,936

Recoveries

5,765

658

447

288

610

4,226

1,012

619

Net charge offs (recoveries)

(3,084)

(58)

1,625

4,363

112

(1,573)

1,217

1,317

Provision for loan losses

(6,502)

(329)

(876)

498

3,085

(1,726)

32

1,716

Balance, end of period

$

36,663

$

40,081

$

40,352

$

42,853

$

46,718

$

43,745

$

43,898

$

45,083

NET CHARGE OFFS BY TYPE

Construction & development

(4,845)

(20)

$

111

$

(19)

$

(22)

$

(1,823)

$

(85)

$

(42)

Commercial real estate

(62)

274

7

416

(18)

2,022

91

14

Commercial

1,883

(169)

1,085

3,751

239

(1,894)

1,228

1,211

One-to-four family residential

(40)

(165)

363

167

(40)

20

(105)

123

Consumer

(20)

22

59

48

(47)

102

88

11

Total net charge offs (recoveries) by type

$

(3,084)

$

(58)

$

1,625

$

4,363

$

112

$

(1,573)

$

1,217

$

1,317

NET CHARGE OFFS BY SEGMENT

Oklahoma banking

$

(1,294)

$

(203)

$

200

$

589

$

(261)

$

5

$

(247)

$

1,150

Texas banking

(2,314)

(80)

1,356

3,241

305

857

1,139

227

Kansas banking

524

225

69

533

68

(2,435)

325

(60)

Total net charge offs (recoveries) by segment

$

(3,084)

$

(58)

$

1,625

$

4,363

$

112

$

(1,573)

$

1,217

$

1,317

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA
(Dollars in thousands)

Table 7

2013

2012

Dec. 31

Sep. 30

Jun. 30

Mar. 31

Dec. 31

Sep. 30

Jun. 30

Mar. 31

PER SHARE DATA

Basic earnings per common share

$

0.34

$

0.19

$

0.22

$

0.12

$

0.05

$

0.22

$

0.15

$

0.21

Diluted earnings per common share

0.34

0.19

0.22

0.12

0.05

0.22

0.15

0.21

Book value per common share

13.13

12.83

12.67

12.72

12.60

12.59

12.35

12.21

Tangible book value per share*

13.07

12.77

12.60

12.66

12.54

12.53

12.29

12.15

COMMON STOCK

Shares issued and outstanding

19,732,926

19,703,313

19,692,606

19,692,038

19,529,721

19,448,312

19,447,202

19,445,913

OTHER FINANCIAL DATA

Investment securities

$

394,199

$

382,001

$

372,403

$

365,605

$

377,112

$

381,499

$

340,378

$

333,860

Loans held for sale

3,060

3,641

7,217

7,297

31,682

34,749

23,996

38,765

Noncovered portfolio loans

1,251,416

1,284,004

1,289,226

1,296,317

1,321,346

1,429,165

1,498,708

1,570,866

Total noncovered loans

1,254,476

1,287,645

1,296,443

1,303,614

1,353,028

1,463,914

1,522,704

1,609,631

Covered portfolio loans

16,427

18,980

21,646

23,601

25,707

28,197

30,712

33,314

Total assets

1,981,423

1,972,367

2,031,962

2,091,694

2,122,255

2,151,153

2,264,123

2,268,264

Total deposits

1,584,086

1,583,791

1,615,961

1,677,668

1,709,578

1,743,673

1,788,379

1,806,780

Other borrowings

80,632

78,663

74,334

70,872

70,362

66,694

68,477

55,139

Subordinated debentures

46,393

46,393

81,963

81,963

81,963

81,963

81,963

81,963

Total shareholders' equity

259,187

252,802

249,420

250,509

246,056

244,821

309,003

306,046

Mortgage servicing portfolio

390,732

383,400

368,825

356,032

343,397

329,184

305,465

301,378

INTANGIBLE ASSET DATA

Goodwill

$

1,214

$

1,214

$

1,214

$

1,214

$

1,214

$

1,214

$

1,214

$

1,214

Core deposit intangible

2,058

2,185

2,306

2,424

2,543

2,664

2,785

2,906

Mortgage servicing rights

2,922

2,837

2,675

2,445

2,321

2,122

1,975

1,952

Total intangible assets

$

6,194

$

6,236

$

6,195

$

6,083

$

6,078

$

6,000

$

5,974

$

6,072

Intangible amortization expense

$

278

$

314

$

313

$

410

$

283

$

283

$

282

$

296

DEPOSIT COMPOSITION

Non-interest bearing demand

$

444,796

$

436,904

$

412,176

$

416,979

$

424,008

$

429,407

$

421,083

$

395,141

Interest-bearing demand

120,156

106,176

138,502

125,914

112,012

113,677

119,929

119,759

Money market accounts

439,981

423,720

408,145

437,629

423,417

385,296

361,839

349,419

Savings accounts

41,727

39,727

38,611

39,733

37,693

36,461

35,610

34,679

Time deposits of $100,000 or more

251,185

270,916

295,179

317,270

351,273

389,969

431,317

464,876

Other time deposits

286,241

306,348

323,348

340,143

361,175

388,863

418,601

442,906

Total deposits**

$

1,584,086

$

1,583,791

$

1,615,961

$

1,677,668

$

1,709,578

$

1,743,673

$

1,788,379

$

1,806,780

OFFICES AND EMPLOYEES

FTE Employees

402

407

408

412

422

429

430

435

Branches

23

23

22

22

22

23

23

23

Loan production offices

0

0

1

1

1

2

2

2

Assets per employee

$

4,929

$

4,846

$

4,980

$

5,077

$

5,029

$

5,014

$

5,265

$

5,214

____________________

*This is a Non-GAAP based financial measure.

**Calculation of Non-brokered Deposits and Core Funding (Non-GAAP Financial Measures)

Total deposits

$

1,584,086

$

1,583,791

$

1,615,961

$

1,677,668

$

1,709,578

$

1,743,673

$

1,788,379

$

1,806,780

Less:

Brokered time deposits

1,347

1,343

4,904

5,760

9,865

10,197

12,238

13,307

Other brokered deposits

3,423

3,423

3,422

3,422

3,421

4,421

4,420

6,529

Non-brokered deposits

$

1,579,316

$

1,579,025

$

1,607,635

$

1,668,486

$

1,696,292

$

1,729,055

$

1,771,721

$

1,786,944

Plus:

Sweep repurchase agreements

55,631

53,663

49,334

45,872

45,362

41,694

43,477

30,139

Core funding

$

1,634,947

$

1,632,688

$

1,656,969

$

1,714,358

$

1,741,654

$

1,770,749

$

1,815,198

$

1,817,083

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

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUPPLEMENTAL FINANCIAL DATA
(Dollars in thousands)

Table 8

2013

2012

Dec. 31

Sep. 30

Jun. 30

Mar. 31

Dec. 31

Sep. 30

Jun. 30

Mar. 31

PERFORMANCE RATIOS

Return on average assets (annualized)

1.37%

0.75%

0.87%

0.46%

0.18%

1.06%

0.73%

0.89%

Return on average common equity (annualized)

10.59

5.99

7.00

3.89

1.56

7.11

5.03

7.00

Return on average tangible common equity

(annualized)*

10.64

6.02

7.03

3.90

1.56

7.15

5.06

7.03

Net interest margin (annualized)

3.42

3.11

3.07

3.16

3.41

3.59

3.71

3.82

Effective tax rate

38.68

38.01

33.74

43.88

31.45

39.73

37.12

37.50

Efficiency ratio

76.45

69.18

68.93

75.16

79.68

64.47

71.82

58.73

NONPERFORMING ASSETS

Noncovered:

Nonaccrual loans

$

18,560

$

29,198

$

29,513

$

32,356

$

35,104

$

26,493

$

20,474

$

14,324

90 days past due and accruing

53

2

2

-

3,290

390

245

100

Total nonperforming loans

18,613

29,200

29,515

32,356

38,394

26,883

20,719

14,424

Other real estate

560

676

145

9,422

11,315

14,683

17,263

19,329

Total nonperforming assets

$

19,173

$

29,876

$

29,660

$

41,778

$

49,709

$

41,566

$

37,982

$

33,753

Performing restructured

$

28

$

527

$

993

$

512

$

290

$

281

$

328

$

1,700

Potential problem loans

$

98,047

$

95,139

$

94,118

$

89,646

$

94,361

$

86,752

$

111,083

$

126,320

Covered:

Nonaccrual loans

$

1,259

$

3,480

$

3,062

$

2,873

$

3,595

$

4,809

$

6,067

$

7,015

90 days past due and accruing

-

-

-

-

-

353

-

-

Total nonperforming loans

1,259

3,480

3,062

2,873

3,595

5,162

6,067

7,015

Other real estate

2,094

1,017

1,666

2,243

3,643

4,142

3,825

4,694

Total nonperforming assets

$

3,353

$

4,497

$

4,728

$

5,116

$

7,238

$

9,304

$

9,892

$

11,709

Performing restructured

$

1,600

$

1,733

$

1,800

$

1,854

$

2,523

$

2,548

$

1,701

$

-

Potential problem loans

$

1,703

$

2,030

$

3,352

$

3,986

$

3,155

$

1,621

$

1,573

$

553

ASSET QUALITY RATIOS

Net loan charge-offs to average portfolio

loans (annualized)

(0.96)%

(0.02)%

0.50%

1.32%

0.03%

(0.42)%

0.31%

0.32%

Noncovered:

Nonperforming assets to portfolio loans and

other real estate

1.53%

2.33%

2.30%

3.20%

3.73%

2.88%

2.51%

2.12%

Nonperforming loans to portfolio loans

1.49

2.27

2.29

2.50

2.91

1.88

1.38

0.92

Allowance for loan losses to portfolio loans

2.93

3.12

3.12

3.29

3.52

3.05

2.92

2.87

Allowance for loan losses to

nonperforming loans

196.67

137.03

136.44

131.78

121.10

162.21

211.43

312.14

Covered:

Nonperforming assets to portfolio loans and

other real estate

18.10%

22.49%

20.28%

19.80%

24.66%

28.77%

28.64%

30.81%

Nonperforming loans to portfolio loans

7.66

18.34

14.15

12.17

13.98

18.31

19.75

21.06

Allowance for loan losses to portfolio loans

0.34

0.36

0.38

0.91

0.87

0.49

0.30

0.18

Allowance for loan losses to

nonperforming loans

4.45

1.95

2.68

7.45

6.23

2.67

1.50

0.86

CAPITAL RATIOS

Average total shareholders' equity to

average assets

12.93%

12.53%

12.41%

11.92%

11.61%

12.31%

13.56%

12.99%

Leverage ratio

14.86

14.78

16.10

15.59

15.01

14.49

16.84

16.20

Tier 1 capital to risk-weighted assets

20.28

20.22

22.48

22.25

20.28

19.36

22.24

21.21

Total capital to risk-weighted assets

21.59

21.52

23.78

23.54

21.56

20.64

23.52

22.49

Tangible common equity to tangible assets***

13.03

12.76

12.22

11.93

11.54

11.33

10.56

10.42

Continued

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUPPLEMENTAL FINANCIAL DATA
(Dollars in thousands)

Table 8
Continued

2013

2012

Dec. 31

Sep. 30

Jun. 30

Mar. 31

Dec. 31

Sep. 30

Jun. 30

Mar. 31

REGULATORY CAPITAL DATA

Tier I capital

$

292,051

$

296,488

$

326,831

$

324,659

$

319,665

$

317,665

$

382,263

$

378,949

Total capital

310,867

315,570

345,717

343,562

339,964

338,739

404,252

401,808

Total risk adjusted assets

1,439,934

1,466,672

1,453,878

1,459,465

1,576,521

1,641,121

1,719,058

1,786,282

Average total assets

1,964,920

2,006,525

2,030,064

2,082,789

2,130,035

2,192,579

2,269,640

2,339,784

____________________

*This is a Non-GAAP based financial measure.

***Calculation of Tangible Capital to Tangible Assets (Non-GAAP Financial Measure)

Total shareholders' equity

$

259,187

$

252,802

$

249,420

$

250,509

$

246,056

$

244,821

$

309,003

$

306,046

Less:

Goodwill

1,214

1,214

1,214

1,214

1,214

1,214

1,214

1,214

Preferred stock

-

-

-

-

-

-

68,837

68,644

Tangible common equity

$

257,973

$

251,588

$

248,206

$

249,295

$

244,842

$

243,607

$

238,952

$

236,188

Total assets

$

1,981,423

$

1,972,367

$

2,031,962

$

2,091,694

$

2,122,255

$

2,151,153

$

2,264,123

$

2,268,264

Less goodwill

1,214

1,214

1,214

1,214

1,214

1,214

1,214

1,214

Tangible assets

$

1,980,209

$

1,971,153

$

2,030,748

$

2,090,480

$

2,121,041

$

2,149,939

$

2,262,909

$

2,267,050

Tangible common equity to tangible assets

13.03%

12.76%

12.22%

11.93%

11.54%

11.33%

10.56%

10.42%

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

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide1.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide2.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide3.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide4.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide5.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide6.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide7.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide8.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide9.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide10.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide11.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide12.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide13.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide14.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide15.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide16.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide17.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide18.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide19.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide20.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide21.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide22.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide23.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide24.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide25.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide26.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide27.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide28.PNG$

$M:\Finance\KC Share\Regulatory Reporting\SEC\4Q 2013\Investor Presentation\OKSB Q4 2013 Earnings Call Presentation.updated 1.21.14\Slide29.PNG$


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 Average Balances, Yields, and Rates-Year-to-date	Table 5
Unaudited Quarterly Summary Loan Data	Table 6
Unaudited Quarterly Summary Financial Data	Table 7
Unaudited Quarterly Supplemental Analytical Data	Table 8


	Fourth Quarter		Third Quarter			Fourth Quarter
QUARTERLY HIGHLIGHTS	2013				% Change	2012		% Change
Operations
Net interest income	$	16,637	$	15,273	9%	$	17,285	(4)%
Provision for loan losses		(6,502)		(329)	1,876		3,085	(311)
Noninterest income		3,068		3,547	(14)		4,871	(37)
Noninterest expense		15,065		13,019	16		17,653	(15)
Income before taxes		11,142		6,130	82		1,418	686
Taxes on income		4,310		2,330	85		446	866
Net income		6,832		3,800	80		972	603
Net income available to common shareholders		6,832		3,800	80		972	603
Diluted earnings per share		0.34		0.19	79		0.05	580
Balance Sheet
Total assets		1,981,423		1,972,367	0		2,122,255	(7)
Loans held for sale		3,060		3,641	(16)		31,682	(90)
Noncovered portfolio loans		1,251,416		1,284,004	(3)		1,321,346	(5)
Covered portfolio loans		16,427		18,980	(13)		25,707	(36)
Total deposits		1,584,086		1,583,791	0		1,709,578	(7)
Total shareholders' equity		259,187		252,802	3		246,056	5
Book value per common share		13.13		12.83	2		12.60	4
Key Ratios
Net interest margin		3.42%		3.11%			3.41%
Efficiency ratio		76.45		69.18			79.68
Total capital to risk-weighted assets		21.59		21.52			21.56
Nonperforming loans to portfolio loans - noncovered		1.49		2.27			2.91
Shareholders' equity to total assets		13.08		12.82			11.59
Tangible common equity to tangible assets*		13.03		12.76			11.54
Return on average assets (annualized)		1.37		0.75			0.18
Return on average common equity (annualized)		10.59		5.99			1.56
Return on average tangible common equity (annualized)**		10.64		6.02			1.56

	Year
YEAR-TO-DATE HIGHLIGHTS	2013		2012		% Change
Operations
Net interest income	$	62,650	$	76,563	(18)%
Provision for loan losses		(7,209)		3,107	(332)
Noninterest income		13,643		15,936	(14)
Noninterest expense		55,311		63,322	(13)
Income before taxes		28,191		26,070	8
Taxes on income		10,756		9,883	9
Net income		17,435		16,187	8
Net income available to common shareholders		17,435		12,446	40
Diluted earnings per share		0.88		0.64	38
Balance Sheet
Total assets		1,981,423		2,122,255	(7)
Loans held for sale		3,060		31,682	(90)
Noncovered portfolio loans		1,251,416		1,321,346	(5)
Covered portfolio loans		16,427		25,707	(36)
Total deposits		1,584,086		1,709,578	(7)
Total shareholders' equity		259,187		246,056	5
Book value per common share		13.13		12.60	4
Key Ratios
Net interest margin		3.19%		3.64%
Efficiency ratio (GAAP-based)		72.50		68.46
Total capital to risk-weighted assets		21.59		21.56
Nonperforming loans to portfolio loans - noncovered		1.49		2.91
Shareholders' equity to total assets		13.08		11.59
Tangible common equity to tangible assets*		13.03		11.54
Return on average assets (annualized)		0.86		0.72
Return on average common equity (annualized)		6.90		5.14
Return on average tangible common equity (annualized)**		6.94		5.16


	December 31,		December 31,
	2013		2012
Assets
Cash and due from banks	$	28,062	$	45,045
Interest-bearing deposits		251,777		243,034
Cash and cash equivalents		279,839		288,079
Securities held to maturity (fair values of $12,115. and $13,659, respectively)		11,720		12,797
Securities available for sale (amortized cost of $385,423, and $358,317, respectively)		382,479		364,315
Loans held for sale		3,060		31,682
Noncovered loans receivable		1,251,416		1,321,346
Less: Allowance for loan losses		(36,607)		(46,494)
Net noncovered loans receivable		1,214,809		1,274,852
Covered loans receivable (includes loss share: $1,812 and $6,714, respectively)		16,427		25,707
Less: Allowance for loan losses		(56)		(224)
Net covered loans receivable		16,371		25,483
Net loans receivable		1,231,180		1,300,335
Accrued interest receivable		5,335		6,365
Income tax receivable		-		24,525
Premises and equipment, net		20,833		21,691
Noncovered other real estate		560		11,315
Covered other real estate		2,094		3,643
Goodwill		1,214		1,214
Other intangible assets, net		4,980		4,864
Other assets		38,129		51,430
Total assets	$	1,981,423	$	2,122,255

Liabilities
Deposits:
Noninterest-bearing demand	$	444,796	$	424,008
Interest-bearing demand		120,156		112,012
Money market accounts		439,981		423,417
Savings accounts		41,727		37,693
Time deposits of $100,000 or more		251,185		351,273
Other time deposits		286,241		361,175
Total deposits		1,584,086		1,709,578
Accrued interest payable		832		1,116
Income tax payable		78		-
Other liabilities		10,215		13,180
Other borrowings		80,632		70,362
Subordinated debentures		46,393		81,963
Total liabilities		1,722,236		1,876,199

Shareholders' equity
Common stock - $1 par value; 40,000,000 shares authorized;
19,732,926, and 19,529,705, shares issued and outstanding, respectively		19,733		19,530
Additional paid-in capital		99,937		99,705
Retained earnings		142,528		125,093
Accumulated other comprehensive income (loss)		(3,011)		1,728
Total shareholders' equity		259,187		246,056
Total liabilities and shareholders' equity	$	1,981,423	$	2,122,255


	For the three months ended						For the year
	December 31,			September 30,	December 31,		ended December 31,
	2013		2013		2012		2013		2012
Interest income
Loans	$	16,499	$	16,242	$	19,021	$	66,162	$	84,602
Investment securities		1,747		1,623		1,796		6,655		7,814
Other interest-earning assets		332		270		191		1,097		755
Total interest income		18,578		18,135		21,008		73,914		93,171

Interest expense
Interest-bearing deposits		1,148		1,317		2,014		5,559		9,703
Other borrowings		225		225		224		892		895
Subordinated debentures		568		1,320		1,485		4,813		6,010
Total interest expense		1,941		2,862		3,723		11,264		16,608

Net interest income		16,637		15,273		17,285		62,650		76,563

Provision for loan losses		(6,502)		(329)		3,085		(7,209)		3,107

Net interest income after provision for loan losses		23,139		15,602		14,200		69,859		73,456

Noninterest income
Service charges and fees		2,635		2,589		2,971		10,491		11,559
Gain on sales of loans		385		619		910		2,649		3,133
Gain on investment securities		-		-		802		-		837
Other noninterest income		48		339		188		503		407
Total noninterest income		3,068		3,547		4,871		13,643		15,936

Noninterest expense
Salaries and employee benefits		8,057		7,645		7,956		31,877		29,919
Occupancy		2,805		2,721		2,672		10,779		10,581
FDIC and other insurance		460		413		510		1,764		2,531
Other real estate, net		330		(387)		2,867		(1,098)		6,565
General and administrative		3,413		2,627		3,648		11,989		13,726
Total noninterest expense		15,065		13,019		17,653		55,311		63,322
Income before taxes		11,142		6,130		1,418		28,191		26,070
Taxes on income		4,310		2,330		446		10,756		9,883
Net income	$	6,832	$	3,800	$	972	$	17,435	$	16,187
Net income available to common shareholders	$	6,832	$	3,800	$	972	$	17,435	$	12,446

Basic earnings per common share	$	0.34	$	0.19		0.05	$	0.88	$	0.64
Diluted earnings per common share		0.34		0.19		0.05		0.88		0.64
Common dividends declared per share		-		-		-		-		-


	For the three months ended
	December 31, 2013					September 30, 2013
	Average				Average	Average				Average
	Balance		Interest		Yield/Rate	Balance		Interest		Yield/Rate
Assets
Noncovered loans	$	1,270,307	$	16,186	5.06%	$	1,277,747	$	15,837	4.92%
Covered loans		18,180		313	6.83		20,271		405	7.93
Investment securities		390,160		1,747	1.78		364,746		1,623	1.76
Other interest-earning assets		253,327		332	0.52		287,968		270	0.37
Total interest-earning assets		1,931,974		18,578	3.82		1,950,732		18,135	3.69
Other assets		47,369					57,622
Total assets	$	1,979,343				$	2,008,354

Liabilities and Shareholders' Equity
Interest-bearing demand deposits	$	111,744	$	31	0.11%	$	117,124	$	35	0.12%
Money market accounts		426,090		182	0.17		416,839		182	0.17
Savings accounts		41,021		10	0.10		38,992		10	0.10
Time deposits		555,762		925	0.66		600,321		1,090	0.72
Total interest-bearing deposits		1,134,617		1,148	0.40		1,173,276		1,317	0.45
Other borrowings		78,933		225	1.13		75,822		225	1.18
Subordinated debentures		46,393		568	4.90		75,004		1,320	7.04
Total interest-bearing liabilities		1,259,943		1,941	0.61		1,324,102		2,862	0.86

Noninterest-bearing demand deposits		452,849					422,203
Other liabilities		10,564					10,319
Shareholders' equity		255,987					251,730
Total liabilities and shareholders' equity	$	1,979,343				$	2,008,354

Net interest income and spread			$	16,637	3.21%			$	15,273	2.83%
Net interest margin (1)					3.42%					3.11%
Average interest-earning assets
to average interest-bearing liabilities		153.34%					147.32%

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


	For the year ended December 31,
	2013					2012
	Average				Average	Average				Average
	Balance		Interest		Yield/Rate	Balance		Interest		Yield/Rate
Assets
Noncovered loans	$	1,293,596	$	64,555	4.99%	$	1,536,494	$	82,288	5.36%
Covered loans		21,405		1,607	7.51		30,824		2,314	7.51
Investment securities		377,460		6,655	1.76		350,021		7,814	2.23
Other interest-earning assets		272,940		1,097	0.40		187,478		755	0.40
Total interest-earning assets		1,965,401		73,914	3.76		2,104,817		93,171	4.43
Other assets		63,865					138,929
Total assets	$	2,029,266				$	2,243,746

Liabilities and Shareholders' Equity
Interest-bearing demand deposits	$	122,106	$	148	0.12%	$	114,974	$	219	0.19%
Money market accounts		420,767		790	0.19		381,292		1,077	0.28
Savings accounts		39,397		44	0.11		35,741		53	0.15
Time deposits		617,824		4,577	0.74		842,979		8,354	0.99
Total interest-bearing deposits		1,200,094		5,559	0.46		1,374,986		9,703	0.71
Other borrowings		74,115		892	1.20		61,822		895	1.45
Subordinated debentures		71,243		4,813	6.76		81,963		6,010	7.33
Total interest-bearing liabilities		1,345,452		11,264	0.84		1,518,771		16,608	1.09

Noninterest-bearing demand deposits		420,347					396,091
Other liabilities		10,925					45,368
Shareholders' equity		252,542					283,516
Total liabilities and shareholders' equity	$	2,029,266				$	2,243,746

Net interest income and spread			$	62,650	2.92%			$	76,563	3.34%
Net interest margin (1)					3.19%					3.64%
Average interest-earning assets
to average interest-bearing liabilities		146.08%					138.59%

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


		2013							2012
		Dec. 31		Sep. 30		Jun. 30	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
LOAN COMPOSITION
Noncovered:
Real estate mortgage:
Commercial	$	740,997	$	743,858	$	786,686	$	819,873	$	870,977	$	898,453	$	931,239	$	996,486
One-to-four family residential		80,058		80,561		77,445		73,911		70,952		74,081		74,390		76,287
Real estate construction:
Commercial		143,650		162,995		158,907		139,462		130,753		206,342		211,098		222,678
One-to-four family residential		4,646		4,464		5,241		5,015		3,656		3,438		4,184		3,814
Commercial		254,087		263,598		235,667		232,224		240,498		244,018		263,085		273,324
Installment and consumer:
Guaranteed student loans		4,394		4,471		4,520		4,576		4,680		4,872		5,153		5,276
Other		26,644		27,698		27,977		28,553		31,512		32,710		33,555		31,766
Total noncovered loans, including held for sale		1,254,476		1,287,645		1,296,443		1,303,614		1,353,028		1,463,914		1,522,704		1,609,631
Less allowance for loan losses		(36,607)		(40,013)		(40,270)		(42,639)		(46,494)		(43,607)		(43,807)		(45,023)
Total noncovered loans, net	$	1,217,869	$	1,247,632	$	1,256,173	$	1,260,975	$	1,306,534	$	1,420,307	$	1,478,897	$	1,564,608
Covered:
Real estate mortgage:
Commercial	$	11,282	$	13,577	$	15,452	$	16,970	$	18,298	$	20,664	$	21,472	$	22,607
One-to-four family residential		3,930		4,084		4,253		4,458		4,881		5,059		5,432		5,766
Real estate construction:
Commercial		198		312		320		367		382		419		1,627		2,344
Commercial		971		967		1,554		1,715		2,037		1,937		2,033		2,401
Installment and consumer		46		40		67		91		109		118		148		196
Total covered loans		16,427		18,980		21,646		23,601		25,707		28,197		30,712		33,314
Less allowance for loan losses		(56)		(68)		(82)		(214)		(224)		(138)		(91)		(60)
Total covered loans, net	$	16,371	$	18,912	$	21,564	$	23,387	$	25,483	$	28,059	$	30,621	$	33,254
LOANS BY SEGMENT
Oklahoma banking	$	681,999	$	681,749	$	656,356	$	628,747	$	652,121	$	704,916	$	751,758	$	810,217
Texas banking		366,697		414,433		444,327		495,815		520,481		560,197		588,370		616,455
Kansas banking		198,992		206,802		210,189		195,355		174,451		192,249		189,292		177,508
Subtotal		1,247,688		1,302,984		1,310,872		1,319,917		1,347,053		1,457,362		1,529,420		1,604,180
Secondary market		23,215		3,641		7,217		7,298		31,682		34,749		23,996		38,765
Total loans	$	1,270,903	$	1,306,625	$	1,318,089	$	1,327,215	$	1,378,735	$	1,492,111	$	1,553,416	$	1,642,945
NONPERFORMING LOANS BY TYPE
Construction & development	$	2,721	$	5,659	$	5,989	$	6,409	$	3,355	$	3,436	$	3,608	$	3,768
Commercial real estate		6,564		12,203		12,325		13,362		18,337		20,576		4,932		6,821
Commercial		8,819		10,887		10,719		11,861		15,232		1,791		10,878		2,209
One-to-four family residential		456		396		418		651		1,310		949		1,125		1,508
Consumer		53		55		64		73		160		131		176		118
Total nonperforming loans - noncovered	$	18,613	$	29,200	$	29,515	$	32,356	$	38,394	$	26,883	$	20,719	$	14,424
NONPERFORMING LOANS BY SEGMENT
Oklahoma banking	$	5,547	$	3,279	$	1,678	$	2,000	$	2,956	$	4,369	$	2,979	$	3,550
Texas banking		11,902		24,963		26,294		28,817		33,756		19,940		14,894		5,703
Kansas banking		1,164		958		1,543		1,539		1,682		2,574		2,846		5,171
Total nonperforming loans - noncovered	$	18,613	$	29,200	$	29,515	$	32,356	$	38,394	$	26,883	$	20,719	$	14,424
OTHER REAL ESTATE BY TYPE
Construction & development	$	-	$	676	$	145	$	215	$	215	$	445	$	2,585	$	3,542
Commercial real estate		560		-		-		9,207		11,003		14,130		14,129		14,854
One-to-four family residential		-		-		-		-		97		108		549		933
Total other real estate - noncovered	$	560	$	676	$	145	$	9,422	$	11,315	$	14,683	$	17,263	$	19,329
Continued



SOUTHWEST BANCORP, INC. UNAUDITED QUARTERLY SUMMARY LOAN DATA (Dollars in thousands)	Table 6 Continued