8-K

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): April 25, 2017

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:

[X]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 April 25, 2017,  Southwest Bancorp, Inc. (the “Company”) issued a press release reporting its results of operations and its financial condition for the quarter ended March 31, 2017.  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,  April 26, 2017, at 10:00 a.m. Central Time, the Company will host an investor conference call and webcast to review its first quarter 2017 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 April 26, 2017.The presentation materials are attached hereto as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits:

99.1:Press Release dated April 25,  2017

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.

April 25, 2017

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 April 25, 2017	Filed herewith electronically
99.2	Presentation materials	Filed herewith electronically

EX-99.1

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

For Immediate Release

Southwest Bancorp, Inc. Reports Results forFirst Quarter 2017  

and Announces Quarterly Dividend

April 25, 2017, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market - OKSB), (“Southwest”), today reported net income for the first quarter of 2017of  $5.3 million, or $0.28 per diluted share, compared to $1.9 million, or $0.10per diluted share, for the first quarter of 2016. The increase was attributable to an improved net interest margin, lower loan loss provision, and stronger noninterest income.

Southwestannouncedthat its board of directors has approved aquarterly cash dividendof  $0.08 per sharepayableMay 19, 2017to shareholders of record as ofMay 5, 2017.

Mark Funke, President and CEO, stated, “This quarter’s solid loan growth combined with the improvement in net interest margin and stronger noninterest income provided momentum for the good results in the first quarter.Here are several highlightsfrom this quarter:

· At March 31, 2017, total loans were $1.9 billion, an increase of $59.3 million, or 3%, during the quarter and an increase of $154.6 million, or 9% year over year.

· The quarterly net interest margin was 3.43%at March 31, 2017,which improved from the previous quarter. The net interest margin was 3.40% at December 31, 2016 and 3.54% at March 31, 2016.

· Pre-tax, pre-provision income was $9.4 million in the first quarter, an increase of 9% from $8.6 million in the fourth quarter of 2016, and an increase of 25% from $7.5 million for the first quarter of 2016.

· The efficiency ratio for the first quarter of 2017 was 63.30%, compared to 64.34% for the fourth quarter of 2016 and 67.48% for the first quarter of 2016.”

See Table 3 for details on pre-tax, pre-provision income, which is a non-GAAP financial measure.

Financial Overview

Condition:As of March 31, 2017, total assets were $2.5 billion, an increase of $47.2 million,when compared toDecember 31, 2016.As of March 31, 2017, total loans were $1.9 billion,  an increase of $59.3 million from the prior quarter end.As of March 31, 2017,  investment securitieswere $433.1 million, a decreaseof $3.6 million from the prior quarter end.Cash and cash equivalents at March 31, 2017  were $65.1million,  a decrease of $10.5 million from December 31, 2016. 

The allowance for loan losses was $27.5 million at March 31, 2017 and December 31, 2016 and an increase of $0.4 millionwhen compared to March 31, 2016.  The allowance for loan losses to portfolio loans was 1.43%as of March 31, 2017,  compared to1.47% as of December 31, 2016,  and1.53% as of March 31, 2016.  The allowance for loan losses to nonperforming loans was 166.01%  as of March 31, 2017, compared to 165.84% as of December 31, 2016 and 122.01% as of March 31, 2016.The total allowance for loan losses combined with the purchase discount on acquired loans represents1.63% of gross loans as of March 31, 2017 compared to 1.71% as of December 31, 2016 and 1.96% as of March 31, 2016.

Nonperforming loans were  $16.6  million at March 31, 2017 and virtually the same amount atDecember 31, 2016and down $5.7 millionfrom $22.3 million at March 31, 2016.  Other real estate was $0.4 million at March 31, 2017and December 31, 2016,anddown from $2.3 million at March 31, 2016.  Nonperforming assets were $16.9 million, or0.88% of portfolio loans and other real estate, as of March 31, 2017, compared to $17.0 million, or 0.91% of portfolio loans and other real estate, as ofDecember 31, 2016, and $24.5 million, or 1.38% of portfolio loans and other real estate, as of March 31, 2016.

As of March 31, 2017, total depositswere $2.0 billion, an increase of $31.2  million,  when compared toDecember 31, 2016.Total core funding, which includes all non-brokered deposits and sweep repurchase agreements, comprised79%  oftotal funding as of March 31, 2017compared to 81% as of December 31, 2016.  Wholesale funding, including Federal Home Loan Bank borrowings and brokered deposits, accounted for 21%of total funding at March 31, 2017 and 19% of total funding at December 31, 2016.  See Table 6  for details on core funding and non-brokered deposits, which are non-GAAP financial measures.

The capital ratios of Southwest and Bank SNBas of March 31, 2017 exceeded the criteria for regulatory classification as “well-capitalized”. Southwest’s total regulatory capital was $349.6 million, for a total risk-based capital ratio of 15.44%, Common Equity Tier 1 capital was $276.2 million, for a Common Equity Tier 1 ratio of 12.20%, and Tier 1 capital was $321.2million, for a Tier 1 risk-based capital ratio of 14.19%.Bank SNB had total regulatory capital of $334.3 million, for a total risk-based capital ratio of 14.79% and Common Equity Tier 1 and Tier 1 capital of $305.9million, for a Common Equity Tier 1 and Tier 1 risk-based capital ratio of 13.54%.Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by bank regulators.

First Quarter Results:

Summary:  For the first quarter of 2017, net income was $5.3 million, compared to $6.2 million for the fourth quarter of 2016 and $1.9 million for the first quarter of 2016.  Pre-tax, pre-provision income for the first quarter of 2017 was $9.4 million, compared to $8.6 million for the fourth quarter of 2016 and $7.5 million for the first quarter of 2016.The fourth quarter of 2016 includes $0.9 million of merger related costs associated with the recently announced merger with Simmons First National Corporation.  

The $0.9 million decrease in net income compared to the fourth quarter of 2016was primarily due toa  $1.3 million credit provision for loan losses recorded in the fourth quarter of 2016 versus a $1.8 million provision recorded in the first quarter of 2017.This decreasein net income is partially offset by a $0.1 million increase in net interest income, a $0.6 million increase in noninterest income, a $0.5 million decrease in noninterest expense and a $1.0 million decrease in income taxes.  

The $3.4 million increase in net income compared to the first quarter of 2016 was due to a $0.3 million increase in net interest income,  a  $2.6 million decrease in the provision for loan losses, a $1.5 million increase in noninterest income and a  $0.7 million decrease in noninterest expense, offset by a  $1.7 million increase in income taxes.

Net Interest Income:Net interest income totaled $20.2million forthe first quarter of 2017, compared to $20.1 million for the fourth quarter of 2016 and$19.8 million for the first quarter of 2016.Net interest margin was 3.43%  for the first quarter of 2017, compared to 3.40% for the fourth quarter of 2016 and 3.54% for the first quarter of 2016.Interest income forthe first quarter of 2017,the fourth quarter of 2016, and the first quarter of 2016includes $0.3 million,  $0.1 million and $0.3 million of accelerated discount accretion, respectively. The net effects of these adjustments on the net interest margins  were a 5 basis point, a 2 basis point and a5 basis pointincrease, respectively, for each quarter.Average loans (including loans held for sale) for the first quarter of 2017increased $31.8millionwhen compared to December 31, 2016, and $110.1 million when compared to March 31, 2016.

Provision (Credit) for Loan Losses and Net Charge-offs:  The provision for loan losses is the amount that is required to maintain the allowance for loan losses at an appropriate level based upon the inherent risks in the loan portfolio after the net effects of charge-offs and recoveries for the period. The provision for loan losses was $1.8 million for the first quarter of 2017, compared to a  credit provision of $1.3 million for the fourth quarter of 2016, and a  provision of $4.4 million for the first quarter of 2016.  The first quarter 2017 provision was driven by loan growth and an increase in reserves on a few classified loans. During the first quarter of 2017,  netcharge-offs totaled $1.8 million, or 0.38% (annualized) of average portfolio loans, compared to net recoveries of $0.4 million, or (0.09)%  

(annualized) of average portfolio loans for the fourth quarter of 2016 and net charge-offsof $3.3 million, or 0.75% (annualized) of average portfolio loans for the first quarter of 2016.

Noninterest Income:  Noninterest income totaled $4.9  million for the first quarter of 2017, compared to $4.2 million for the fourth quarter of 2016 and $3.4 million for the first quarter of 2016.

The $0.6 million increase from the fourth quarter of 2016is the result ofa $0.5 million increase in gain on sale of investment securities, which resulted from the sale of a private equity investment during the first quarter of 2017,  and a  $0.5 million increase in other noninterest income, which was  driven by a $0.2 million increase in customer risk management interest rate swap income and a $0.3 million increase in other noninterest income. These increases were offset in part by a $0.1 million decrease in service charges and fees and a $0.2 million decrease in gain on sale of mortgage loans.

The $1.5 million increase from the first quarter of 2016 is the result of a $0.1 million increase in service charges and fees, a $0.2 million increase in gain on sale of mortgage loans, a $0.3 million increase in gain on sale of investment securities, and a $0.9 million increase in other noninterest income. The $0.9 million increase in other noninterest income is primarily driven by a $0.6 million increase in customer risk management interest rate swap income combined with a $0.3 million increase in other noninterest income.

Noninterest Expense:Noninterest expense totaled $15.3million for the first quarter of 2017, compared to $15.8 million for the fourth quarter of 2016 and$16.0 million for the first quarter of 2016.

The $0.5 million decrease in noninterest expense from the fourth quarter of 2016 was due to a $0.2 million decrease in occupancy, a $0.4 million decrease in the provision for unfunded loan commitments,and a $0.8 million decrease in general and administrative expenses, offset in part by a $0.9 million increase in personnel expense, due to increased incentives, severance costs, payroll taxes, and benefits.

The $0.7 million decrease in noninterest expense from the first quarter of 2016 consisted of a $0.3 million decrease in occupancy, a $0.1 million decrease in data processing,  a $0.1 million decrease in FDIC and other insurance expense,  a $0.6 million decrease in the provision for unfunded loan commitments and a $0.2 million decrease in general and administrative expense,  offset in part by a $0.6 million increase in personnel expense.

Income Tax:  Income tax expense totaled $2.7 million for the first quarter of 2017, compared to  $3.7 million for the fourth quarter of 2016 and$1.0 million for the first quarter of 2016. The income tax expense fluctuates in relation to pre-tax income levels. The first quarter of 2017 effective tax rate was 33.71%,  compared to 37.38% for the fourth quarter of 2016 and 35.19% for the first quarter of 2016. The effective tax rate includes a $0.2 million tax benefit due to the adoption of an  accounting principle that became effective January 1, 2017. The effective tax rate in the fourth quarter of 2016 included the impact of certain nondeductible merger costs.

Conference Call

Southwest will host a conference call to review these results on Wednesday, April 26, 2017 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). Investors, news media, and others may pre-register for the call using the following link to receive a special dial-in number and PIN:  http://dpregister.com/10104035. Telephone participants who are unable to pre-register may access the call by telephone at 866-218-2402 (toll-free) or 412-902-4190 (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/oksb170426.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 10098734. Telephone replay access will be available until May 26, 2017.

Southwest Bancorp and Subsidiaries

Southwest is the holding company for Bank SNB, an Oklahoma state banking corporation(“Bank SNB”). Bank SNB offers commercial and consumer lending, deposit services, specialized cash management, and other financial services from offices in Oklahoma, Texas, Kansas, and Colorado.  Bank SNB was chartered in 1894 and Southwest was organized in 1981 as the holding company. At March 31, 2017,  Southwest had total assets of approximately$2.5 billion, deposits of $1.9 billion, and shareholders’ equity of $290.9 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 banking subsidiaryprovide credit and other remittance 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 March 31, 2017, approximately $431.6 million, or 22%, of loans were loans to individuals and businesses in the healthcare industry. Regular market reviews are conducted of (i) current and potential healthcare lending business,and (ii) 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;

· Expectations regarding Southwest’s stock repurchase program;

· Expectations regarding dividends;

· Expectations regarding our planned merger with Simmons First National Corporation;

· Assessments of loan quality, probable loan losses or negative provisions, 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, 2016. 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 March 31, 2017 through the date its financial statements are filed with the Securities and Exchange Commission. The March 31,  2017 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. 

The Southwest Bancorp, Inc. logo is available at

http://www.globenewswire.com/newsroom/prs/?pkgid=8074

The Bank SNB logo is available at

http://www.globenewswire.com/newsroom/prs/?pkgid=23106

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 Quarterly Summary Loan Data	Table 5
Unaudited Quarterly Summary Financial Data	Table 6
Unaudited Quarterly Supplemental Analytical Data	Table 7

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

	First Quarter					Fourth Quarter
QUARTERLY HIGHLIGHTS	2017		2016		% Change	2016		% Change
Operations
Net interest income	$	20,163	$	19,840	2%	$	20,103	0%
Provision (credit) for loan losses		1,776		4,375	(59)		(1,329)	234
Noninterest income		4,880		3,415	43		4,244	15
Noninterest expense		15,303		15,996	(4)		15,826	(3)
Income before taxes		7,964		2,884	176		9,850	(19)
Taxes on income		2,685		1,015	165		3,682	(27)
Net income		5,279		1,869	182		6,168	(14)
Diluted earnings per share		0.28		0.10	180		0.33	(14)
Balance Sheet
Total assets		2,522,594		2,360,819	7		2,475,392	2
Loans held for sale		4,980		1,803	176		4,386	14
Portfolio loans		1,931,463		1,780,081	9		1,872,746	3
Total deposits		1,977,265		1,895,248	4		1,946,018	2
Total shareholders' equity		290,914		285,661	2		286,629	1
Book value per common share		15.57		14.81	5		15.35	1
Key Ratios
Net interest margin		3.43%		3.54%			3.40%
Efficiency ratio		63.30		67.48			64.34
Total capital to risk-weighted assets		15.44		15.39			15.66
Nonperforming loans to portfolio loans		0.86		1.25			0.89
Shareholders' equity to total assets		11.53		12.10			11.58
Tangible common equity to tangible assets*		10.98		11.49			11.01
Return on average assets (annualized)		0.86		0.32			1.00
Return on average common equity (annualized)		7.40		2.56			8.59
Return on average tangible common equity (annualized)**		7.83		2.71			9.10

Balance sheet amounts and ratios are as of period end unless otherwise noted.
* This is a non-GAAP financial measure.  Please see Table 7 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

	March 31,		December 31,		March 31,
	2017		2016		2016
Assets
Cash and due from banks	$	28,400	$	36,831	$	27,102
Interest-bearing deposits		36,702		38,819		40,251
Cash and cash equivalents		65,102		75,650		67,353
Securities held to maturity (fair values of $10,680, $10,677 and $12,248, respectively)		10,413		10,443		11,757
Securities available for sale (amortized cost of $422,672, $427,113 and $409,093, respectively)		422,640		426,218		411,273
Loans held for sale		4,980		4,386		1,803
Loans receivable		1,931,463		1,872,746		1,780,081
Less: Allowance for loan losses		(27,543)		(27,546)		(27,168)
Net loans receivable		1,903,920		1,845,200		1,752,913
Accrued interest receivable		6,357		6,194		5,838
Non-hedge derivative asset		2,043		1,235		4,307
Premises and equipment, net		22,341		22,808		23,533
Other real estate		350		350		2,274
Goodwill		13,545		13,545		13,467
Other intangible assets, net		5,693		5,790		6,145
Other assets		65,210		63,573		60,156
Total assets	$	2,522,594	$	2,475,392	$	2,360,819
Liabilities
Deposits:
Noninterest-bearing demand	$	541,021	$	551,709	$	552,499
Interest-bearing demand		177,676		152,656		168,210
Money market accounts		591,368		567,058		540,323
Savings accounts		58,387		56,410		56,235
Time deposits of $100,000 or more		353,244		360,307		348,783
Other time deposits		255,569		257,878		229,198
Total deposits		1,977,265		1,946,018		1,895,248
Accrued interest payable		1,190		1,132		894
Non-hedge derivative liability		2,043		1,235		4,307
Other liabilities		10,144		10,171		10,553
Other borrowings		194,645		183,814		117,763
Subordinated debentures		46,393		46,393		46,393
Total liabilities		2,231,680		2,188,763		2,075,158
Shareholders' equity
Common stock - $1 par value; 40,000,000 shares authorized;
21,275,434, 21,230,714 and 21,225,034 shares issued, respectively		21,275		21,231		21,225
Additional paid-in capital		123,403		123,112		122,070
Retained earnings		188,638		184,840		173,496
Accumulated other comprehensive (loss) gain		(302)		(907)		546
Treasury stock, at cost, 2,586,412, 2,555,987 and 1,939,989 shares, respectively		(42,100)		(41,647)		(31,676)
Total shareholders' equity		290,914		286,629		285,661
Total liabilities and shareholders' equity	$	2,522,594	$	2,475,392	$	2,360,819

SOUTHWEST BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OFOPERATIONS
(Dollars in thousands) Table 3

	For the three months ended
	March 31,		December 31,		March 31,
	2017		2016		2016
Interest income
Loans	$	20,944	$	20,925	$	20,030
Investment securities		2,052		1,761		1,965
Other interest-earning assets		75		52		53
Total interest income		23,071		22,738		22,048
Interest expense
Interest-bearing deposits		1,840		1,691		1,307
Other borrowings		478		354		309
Subordinated debentures		590		590		592
Total interest expense		2,908		2,635		2,208
Net interest income		20,163		20,103		19,840
Provision (credit) for loan losses		1,776		(1,329)		4,375
Net interest income after provision (credit) for loan losses		18,387		21,432		15,465
Noninterest income
Service charges and fees		2,681		2,772		2,549
Gain on sales of mortgage loans		552		774		401
Gain on sale/call of investment securities, net		451		-		126
Other noninterest income		1,196		698		339
Total noninterest income		4,880		4,244		3,415
Noninterest expense
Salaries and employee benefits		9,900		9,001		9,342
Occupancy		2,373		2,616		2,671
Data processing		409		404		470
FDIC and other insurance		273		235		368
Other real estate, net		3		(10)		13
Provision (credit) for unfunded loan commitments		(388)		32		215
General and administrative		2,733		3,548		2,917
Total noninterest expense		15,303		15,826		15,996
Income before taxes		7,964		9,850		2,884
Taxes on income		2,685		3,682		1,015
Net income	$	5,279	$	6,168	$	1,869
Pre-tax, pre-provision income*	$	9,352	$	8,553	$	7,474
Basic earnings per common share	$	0.28	$	0.33	$	0.10
Diluted earnings per common share		0.28		0.33		0.10
Common dividends declared per share		0.08		0.08		0.08
*This is a non-GAAP financial measure.  Pre-tax, pre-provision income is calculated as follows:
Net income + Taxes on income + Provision (credit) for loan losses + Provision (credit) for unfunded loan commitments

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

	For the three months ended
	March 31, 2017			December 31, 2016			March 31, 2016
	Average		Average	Average		Average	Average		Average
	Balance		Yield/Rate	Balance		Yield/Rate	Balance		Yield/Rate
Assets
Loans	$	1,899,047	4.47%	$	1,867,210	4.46%	$	1,788,992	4.50%
Investment securities		431,542	1.93		432,053	1.62		412,307	1.92
Other interest-earning assets		56,089	0.54		50,564	0.41		51,031	0.42
Total interest-earning assets		2,386,678	3.92		2,349,827	3.85		2,252,330	3.94
Other assets		102,331			106,961			107,874
Total assets	$	2,489,009		$	2,456,788		$	2,360,204
Liabilities and Shareholders' Equity
Interest-bearing demand deposits	$	187,269	0.19%	$	146,708	0.16%	$	160,638	0.16%
Money market accounts		573,364	0.33		572,984	0.26		542,800	0.24
Savings accounts		58,021	0.13		55,761	0.13		55,834	0.14
Time deposits		611,170	0.84		625,288	0.79		564,213	0.65
Total interest-bearing deposits		1,429,824	0.52		1,400,741	0.48		1,323,485	0.40
Other borrowings		174,362	1.11		151,004	0.93		117,171	1.06
Subordinated debentures		46,393	5.09		46,393	5.09		48,546	4.88
Total interest-bearing liabilities		1,650,579	0.71		1,598,138	0.66		1,489,202	0.60
Noninterest-bearing demand deposits		536,101			557,994			563,022
Other liabilities		13,070			15,157			14,769
Shareholders' equity		289,259			285,499			293,211
Total liabilities and shareholders' equity	$	2,489,009		$	2,456,788		$	2,360,204
Net interest income and spread			3.21%			3.19%			3.34%
Net interest margin (1)			3.43%			3.40%			3.54%
Average interest-earning assets
to average interest-bearing liabilities		144.60%			147.04%			151.24%
(1) Net interest margin = annualized net interest income / average interest-earning assets

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUMMARY LOAN DATA
(Dollars in thousands) Table 5

	2017		2016
	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
LOAN COMPOSITION
Real estate mortgage:
Commercial	$	925,458	$	882,071	$	893,807	$	862,287	$	878,822
One-to-four family residential		210,495		199,123		193,678		183,693		158,078
Real estate construction:
Commercial		193,937		199,113		184,211		175,805		156,454
One-to-four family residential		18,426		20,946		22,460		20,347		24,202
Commercial		570,001		556,248		566,403		558,472		543,822
Installment and consumer		18,126		19,631		19,553		20,773		20,506
Total loans, including held for sale		1,936,443		1,877,132		1,880,112		1,821,377		1,781,884
Less allowance for loan losses		(27,543)		(27,546)		(28,452)		(26,876)		(27,168)
Total loans, net	$	1,908,900	$	1,849,586	$	1,851,660	$	1,794,501	$	1,754,716
LOANS BY SEGMENT
Oklahoma banking****	$	1,153,417	$	1,095,930	$	1,117,716	$	1,085,986	$	1,060,482
Texas banking		639,945		636,643		605,682		577,333		560,421
Kansas banking		143,081		144,559		156,714		158,058		160,981
Total loans	$	1,936,443	$	1,877,132	$	1,880,112	$	1,821,377	$	1,781,884
NONPERFORMING LOANS BY TYPE
Construction & development	$	970	$	970	$	1,073	$	1,436	$	1,444
Commercial real estate		570		6,471		7,620		3,894		3,830
Commercial		12,183		6,142		12,791		13,800		13,461
One-to-four family residential		2,838		2,904		2,982		3,120		3,448
Consumer		30		123		58		75		84
Total nonperforming loans	$	16,591	$	16,610	$	24,524	$	22,325	$	22,267
NONPERFORMING LOANS BY SEGMENT
Oklahoma banking	$	7,479	$	12,006	$	12,275	$	9,268	$	7,978
Texas banking		8,987		4,140		11,805		12,586		13,521
Kansas banking		125		464		444		471		768
Total nonperforming loans	$	16,591	$	16,610	$	24,524	$	22,325	$	22,267
OTHER REAL ESTATE BY TYPE
Construction & development	$	-	$	-	$	1,756	$	1,962	$	2,060
Commercial real estate		350		350		350		160		214
Total other real estate	$	350	$	350	$	2,106	$	2,122	$	2,274
OTHER REAL ESTATE BY SEGMENT
Oklahoma banking	$	-	$	-	$	-	$	220	$	274
Texas banking		350		350		2,106		1,902		2,000
Total other real estate	$	350	$	350	$	2,106	$	2,122	$	2,274
****Due to immateriality, Colorado banking is included within Oklahoma banking.
Continued

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUMMARY LOAN DATA
(Dollars in thousands) Table 5
Continued

	2017		2016
	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
POTENTIAL PROBLEM LOANS BY TYPE
Construction & development	$	588	$	589	$	588	$	-	$	-
Commercial real estate		12,167		13,831		12,212		33,472		36,216
Commercial		27,372		27,621		30,555		29,537		29,931
One-to-four family residential		1,954		1,980		2,119		1,353		2,275
Consumer		2		2		2		2		38
Total potential problem loans	$	42,083	$	44,023	$	45,476	$	64,364	$	68,460
POTENTIAL PROBLEM LOANS BY SEGMENT
Oklahoma banking****	$	22,001	$	20,258	$	21,780	$	43,895	$	46,102
Texas banking		16,346		19,807		21,029		17,726		18,801
Kansas banking		3,736		3,958		2,667		2,743		3,557
Total potential problem loans	$	42,083	$	44,023	$	45,476	$	64,364	$	68,460
ALLOWANCE ACTIVITY
Balance, beginning of period	$	27,546	$	28,452	$	26,876	$	27,168	$	26,106
Charge-offs		2,157		2,108		626		538		3,725
Recoveries		378		2,531		489		236		412
Net charge-offs (recoveries)		1,779		(423)		137		302		3,313
Provision (credit) for loan losses		1,776		(1,329)		1,713		10		4,375
Balance, end of period	$	27,543	$	27,546	$	28,452	$	26,876	$	27,168
NET CHARGE-OFFS BY TYPE
Commercial real estate	$	1,847	$	(84)	$	108	$	(44)	$	(187)
Commercial		(105)		(357)		(64)		82		3,408
One-to-four family residential		(55)		(16)		44		(12)		41
Consumer		92		34		49		276		51
Total net charge-offs (recoveries) by type	$	1,779	$	(423)	$	137	$	302	$	3,313
NET CHARGE-OFFS BY SEGMENT
Oklahoma banking	$	1,950	$	(178)	$	34	$	127	$	458
Texas banking		12		(168)		180		211		952
Kansas banking		(183)		(77)		(77)		(36)		1,903
Total net charge-offs (recoveries) by segment	$	1,779	$	(423)	$	137	$	302	$	3,313
****Due to immateriality, Colorado banking is included within Oklahoma banking.

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

	2017		2016
	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
PER SHARE DATA
Basic earnings per common share	$	0.28	$	0.33	$	0.23	$	0.29	$	0.10
Diluted earnings per common share		0.28		0.33		0.23		0.28		0.10
Common dividends declared per share		0.08		0.08		0.08		0.08		0.08
Book value per common share		15.57		15.35		15.19		15.06		14.81
Tangible book value per share*		14.72		14.50		14.33		14.20		13.97
COMMON STOCK
Shares issued		21,275,434		21,230,714		21,223,895		21,223,613		21,225,034
Less treasury shares		2,586,412		2,555,987		2,538,510		2,472,830		1,939,989
Outstanding shares		18,689,022		18,674,727		18,685,385		18,750,783		19,285,045
Diluted outstanding shares		18,532,499		18,551,005		18,545,614		18,677,912		19,267,473
OTHER FINANCIAL DATA
Investment securities	$	433,053	$	436,661	$	427,938	$	422,296	$	423,030
Loans held for sale		4,980		4,386		7,899		7,010		1,803
Portfolio loans		1,931,463		1,872,746		1,872,213		1,814,367		1,780,081
Total loans		1,936,443		1,877,132		1,880,112		1,821,377		1,781,884
Total assets		2,522,594		2,475,392		2,468,042		2,402,262		2,360,819
Total deposits		1,977,265		1,946,018		1,947,924		1,902,865		1,895,248
Other borrowings		194,645		183,814		173,971		153,568		117,763
Subordinated debentures		46,393		46,393		46,393		46,393		46,393
Total shareholders' equity		290,914		286,629		283,820		282,360		285,661
Mortgage servicing portfolio		458,961		460,646		453,988		443,568		434,340
INTANGIBLE ASSET DATA
Goodwill	$	13,545	$	13,545	$	13,545	$	13,467	$	13,467
Core deposit intangible		2,177		2,299		2,438		2,584		2,734
Mortgage servicing rights		3,516		3,491		3,381		3,350		3,411
Total intangible assets	$	19,238	$	19,335	$	19,364	$	19,401	$	19,612
Intangible amortization expense	$	229	$	275	$	344	$	350	$	341
DEPOSIT COMPOSITION
Non-interest bearing demand	$	541,021	$	551,709	$	550,121	$	545,421	$	552,499
Interest-bearing demand		177,676		152,656		146,583		160,886		168,210
Money market accounts		591,368		567,058		576,550		547,415		540,323
Savings accounts		58,387		56,410		54,849		55,209		56,235
Time deposits of $100,000 or more		353,244		360,307		347,976		323,137		314,496
Other time deposits		255,569		257,878		271,845		270,797		263,485
Total deposits**	$	1,977,265	$	1,946,018	$	1,947,924	$	1,902,865	$	1,895,248
OFFICES AND EMPLOYEES
FTE Employees		380		387		393		410		411
Banking Centers		30		30		30		32		32
Loan production offices		1		1		1		1		0
Assets per employee	$	6,638	$	6,396	$	6,280	$	5,859	$	5,744
____________________
*This is a non-GAAP financial measure.
**Calculation of non-brokered deposits and core funding (non-GAAP financial measures)
Total deposits	$	1,977,265	$	1,946,018	$	1,947,924	$	1,902,865	$	1,895,248
Less:
Brokered time deposits		59,698		64,652		65,398		61,709		55,901
Other brokered deposits		205,004		206,590		214,175		175,367		140,372
Non-brokered deposits	$	1,712,563	$	1,674,776	$	1,668,351	$	1,665,789	$	1,698,975
Plus:
Sweep repurchase agreements		9,645		45,814		46,971		42,568		42,763
Core funding	$	1,722,208	$	1,720,590	$	1,715,322	$	1,708,357	$	1,741,738
Balance sheet amounts are as of period end unless otherwise noted.

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

	2017		2016
	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
PERFORMANCE RATIOS
Return on average assets (annualized)		0.86%		1.00%		0.70%		0.91%		0.32%
Return on average common equity (annualized)		7.40		8.59		5.97		7.67		2.56
Return on average tangible common equity
(annualized)*		7.83		9.10		6.33		8.13		2.71
Net interest margin (annualized)		3.43		3.40		3.42		3.48		3.54
Total dividends declared to net income		28.33		24.23		35.14		28.35		84.66
Effective tax rate		33.71		37.38		34.45		34.70		35.19
Efficiency ratio		63.30		64.34		66.09		65.70		67.48
NONPERFORMING ASSETS
Nonaccrual loans	$	16,481	$	16,267	$	24,109	$	22,259	$	22,161
90 days past due and accruing		110		343		415		66		106
Total nonperforming loans		16,591		16,610		24,524		22,325		22,267
Other real estate		350		350		2,106		2,122		2,274
Total nonperforming assets	$	16,941	$	16,960	$	26,630	$	24,447	$	24,541
Potential problem loans	$	42,083	$	44,023	$	45,476	$	64,364	$	68,460
ASSET QUALITY RATIOS
Nonperforming assets to portfolio loans and
other real estate		0.88%		0.91%		1.42%		1.35%		1.38%
Nonperforming loans to portfolio loans		0.86		0.89		1.31		1.23		1.25
Allowance for loan losses to portfolio loans		1.43		1.47		1.52		1.48		1.53
Allowance for loan losses to
nonperforming loans		166.01		165.84		116.02		120.39		122.01
Net loan charge-offs (recoveries) to average portfolio
loans (annualized)		0.38		(0.09)		0.03		0.07		0.75
CAPITAL RATIOS
Average total shareholders' equity to
average assets		11.62%		11.62%		11.75%		11.93%		12.42%
Leverage ratio		12.98		13.02		13.07		13.18		13.45
Common equity tier 1 capital		12.20		12.36		11.95		12.22		12.13
Tier 1 capital to risk-weighted assets		14.19		14.40		13.95		14.28		14.14
Total capital to risk-weighted assets		15.44		15.66		15.21		15.53		15.39
Tangible common equity to tangible assets**		10.98		11.01		10.92		11.16		11.49
REGULATORY CAPITAL DATA
Common equity tier 1 capital	$	276,205	$	272,882	$	268,045	$	266,612	$	270,564
Tier I capital		321,205		317,882		313,045		311,612		315,326
Total capital		349,615		345,597		341,196		338,968		343,287
Total risk adjusted assets		2,263,998		2,207,508		2,243,895		2,182,051		2,230,326
Average total assets		2,474,481		2,440,918		2,395,991		2,363,834		2,344,259
____________________
*This is a non-GAAP financial measure.
**Calculation of tangible common equity to tangible assets (non-GAAP financial measure)
Total shareholders' equity	$	290,914	$	286,629	$	283,820	$	282,360	$	285,661
Less goodwill and core deposit intangible		15,722		15,844		15,983		16,051		16,201
Tangible common equity	$	275,192	$	270,785	$	267,837	$	266,309	$	269,460
Total assets	$	2,522,594	$	2,475,392	$	2,468,042	$	2,402,262	$	2,360,819
Less goodwill and core deposit intangible		15,722		15,844		15,983		16,051		16,201
Tangible assets	$	2,506,872	$	2,459,548	$	2,452,059	$	2,386,211	$	2,344,618
Total shareholders' equity to total assets		11.53%		11.58%		11.50%		11.75%		12.10%
Tangible common equity to tangible assets		10.98%		11.01%		10.92%		11.16%		11.49%
Balance sheet amounts and ratios are as of period end unless otherwise noted.

EX-99.2

017First QuarterEarnings PresentationApril 26, 2017NASDAQ: OKSB

Forward Looking StatementsWe make forward-looking statements in this presentation that are subject to risks and uncertainties. We intend these statements 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 our future financial performance and the financial performance of our operating segments;•Expectations regarding regulatory actions;•Expectations regarding our ability to utilize tax loss benefits;•Expectations regarding our stock repurchase program;•Expectations regarding dividends;•Expectations regarding our planned merger with Simmons First National Corporation;•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 our 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 our 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 the “Risk Factors” contained in Southwest’s reports to the Securities and Exchange Commission. We do not intend, or undertake no obligation, to update or revise any forward-looking statements contained in this presentation, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting said statements, except as required by law.

Net income was $5.3 million, or $0.28 per diluted share, compared to $6.2 million, or $0.33 per diluted share, in the fourth quarter of 2016. Total loans are at $1.94 billion as of March 31, 2017 and includes $121.3 million in new loan commitments in the first quarter, with $87.7 million funded.The quarterly net interest margin was 3.43% at March 31, 2017 compared to 3.40% at December 31, 2016 and 3.54% at December 31, 2016.Pre-tax, pre-provision income was $9.4 million for the first quarter of 2017, an increase of 9.3% from $8.6 million in the fourth quarter of 2016 and an increase of 25.1% from $7.5 million in the first quarter of 2016.Efficiency ratio remained steady at 61.5%, adjusted for non-core expenses, for the first quarter of 2017, compared to 60.5%, adjusted for merger costs, for the fourth quarter of 2016, and improved from 67.5% for the first quarter of 2016. Our Board approved a cash dividend of $0.08 per share payable on May 19, 2017 to shareholders of record on May 5, 2017.Our capital ratios all remain strong and well above the criteria for regulatory classification as “well-capitalized”.First Quarter 2017 Highlights

Credit Quality Highlights First Quarter 2017Potential problem loans decreased from $44.0 million to $42.1 million, or 2.2% of total portfolio loans, a fourth consecutive quarter of improvement.Nonperforming loans remained at $16.6 million as of March 31 2017.Other real estate owned remained at $0.4 million as of March 31, 2017.Loan growth and reserves on impaired loans led to a provision for loan losses in the amount of $1.8 million, combined with net charge-offs of $1.8 million kept our reserve position steady at $27.5 million at March 31, 2017, which represents 1.43% of portfolio loans.

Energy Highlights First Quarter 2017Total direct energy exposure at 3/31/17 included $115.0 million in commitments and $78.8 million in funded debt, compared to $84.7 million in commitments and $48.6 million in funded debt at 12/31/16.Energy exposure represents 4.1% of our total funded credit portfolio up from 2.6% in the fourth quarter. The portfolio is advanced 83% to reserve-based credits and 17% to services a significant shift from 70% and 30%, respectively, in the fourth quarter.Including the specific allocation, the ALLL for energy credits is 3.6% compared to 4.8% in the fourth quarter.The services portfolio has $13.3 million funded with five credits having commitments in excess of $1 million. 78% of funded service portfolio is comprised of three credits, all of which are participations purchased from larger banks.There were no service portfolio downgrades in the quarter.

Healthcare Highlights –First Quarter 2017 Core market comprised of established healthcare providers Additional expertise in the funding challenges of smaller, growing healthcare businessesCore market expansion due to successful entry of markets for senior housing developers, multi-site facility operators, and healthcare related service companiesConstantly evaluating new target niches based upon industry evolution and the impact of the ACA$517 million in committed healthcare related credit, or 22.5% of total credit commitments$431 million in funded healthcare related credit, or 22.4% of total funded credit portfolioPotential problem healthcare loans represent only 2.3% of the funded healthcare portfolio Healthcare PortfolioTotal Portfolio: $431.6 million

Financial Highlights(1) Intangible assets defined as goodwill for purposes of these calculations.(2)NPLs defined as Non-Accrual loans + Loans 90+ Days Past Due, NPAs defined as NPLs + OREO.(3)This is a non-GAAP based financial measure. See Appendix for reconciliation to the most directly comparable GAAP based measure.2014 FY2015 FY2016 FY2016 FQ12016 FQ22016 FQ32016 FQ42017 FQ1($ in thousands except per share data)12/31/1412/31/1512/31/163/31/166/30/169/30/1612/31/163/31/17Balance SheetTotal Assets1,942,034 2,357,022 2,475,392 2,360,819 2,402,262 2,468,042 2,475,392 2,522,594 Total Gross Loans1,399,991 1,779,428 1,877,132 1,781,884 1,821,377 1,880,112 1,877,132 1,936,443 Total Deposits1,533,999 1,884,105 1,946,018 1,895,248 1,902,865 1,947,924 1,946,018 1,977,265 Total Equity270,786 296,098 286,629 285,661 282,360 283,820 286,629 290,914 Profitability (%)Net Income ($000)21,030 17,407 17,704 1,869 5,412 4,255 6,168 5,279 ROAA1.09 0.84 0.74 0.32 0.91 0.70 1.00 0.86 ROAE7.82 6.23 6.18 2.56 7.67 5.97 8.59 7.40 Net Interest Margin3.45 3.35 3.46 3.54 3.48 3.42 3.40 3.43 Efficiency Ratio72.51 70.98 65.88 67.48 65.70 66.09 64.34 63.30 Balance Sheet Ratios / Capital (%)Loans / Deposits91.26 94.44 96.46 94.02 95.72 96.52 96.46 97.94 Tangible Common Equity / Tang Assets(1)(3)13.87 11.95 11.01 11.49 11.16 10.92 11.01 10.98 Common Equity Tier 1 Capital RatioNA13.21 12.36 12.13 12.22 11.95 12.36 12.20 Tier 1 Risk Based Capital Ratio19.70 15.53 14.40 14.14 14.28 13.95 14.40 14.19 Total Risk Based Capital Ratio20.96 16.79 15.66 15.39 15.53 15.21 15.66 15.44 Tier 1 Leverage Ratio16.45 14.41 13.02 13.45 13.18 13.07 13.02 12.98 Asset Quality (%)(2)NPLs / Portfolio Loans0.67 1.15 0.89 1.25 1.23 1.31 0.89 0.86 NCOs / Avg Portfolio Loans0.12 (0.08) 0.18 0.74 0.07 0.03 (0.09) 0.38 Reserves / Portfolio Loans2.03 1.47 1.47 1.53 1.48 1.52 1.47 1.43 Reserves / NPLs302.26 128.23 165.84 122.01 120.39 116.02 165.84 166.01 Per Share DataTangible Book Value Per Share14.02 13.98 14.50 13.97 14.20 14.33 14.50 14.72 Earnings Per Diluted Share1.07 0.90 0.92 0.10 0.28 0.23 0.33 0.28

Earnings ResultsEarnings Summary(1)This is a non-GAAP based financial measure. See Appendix for reconciliation to the most directly comparable GAAP based measure. Q1 '17 vs. Q4'16 ($ in thousands except per share data)3/31/1712/31/163/31/16% ChangeNet interest income20,163$ 20,103$ 19,840$ 0.3%Provision for loan losses1,776 (1,329) 4,375 (233.6)% Noninterest income4,880 4,244 3,415 15.0% Nontinterest expense15,303 15,826 15,996 (3.3)% Income before taxes7,964 9,850 2,884 (19.1)% Taxes on income2,685 3,682 1,015 (27.1)% Net income5,279$ 6,168$ 1,869$ (14.4)% Pre-tax, pre-provision (1)9,352$ 8,553$ 7,474$ 9.3%Diluted earnings per share0.28$ 0.33$ 0.10$ Three Months Ended

Owner Occupied CRE$292.815%Non-Owner Occupied CRE$632.433%Residential Real Estate$228.912%Consumer$18.11%Construction & Development$193.910%Commercial & Industrial$570.029%Loan PortfolioDollars in millions unless otherwise noted.Loans by TypeLoans by SegmentOwner Occupied CRE$307.417%Non-Owner Occupied CRE$572.532%Residential Real Estate$182.310%Consumer$20.51%Construction & Development$156.59%Commercial & Industrial$507.029%3/31/2017$1.94 billion3/31/2016$1.78 billionKansas$143.18%Oklahoma$1,090.156%Colorado$63.43%Texas$639.933%Kansas$161.09%Oklahoma$1,012.457%Colorado$48.13%Texas$560.431%

Owner Occupied CRE$0.32%Non-Owner Occupied CRE$0.32%Residential Real Estate$2.817%Construction & Development$1.06%Commercial & Industrial$8.249%Energy C&I$3.219%Healthcare C&I$0.85%Nonperforming LoansDollars in millions unless otherwise noted.Nonperforming loans include non-accruals and 90 days past due loans.By TypeBy Geographic LocationOwner Occupied CRE$0.94%Non-Owner Occupied CRE$2.914%Residential Real Estate$3.416%Consumer$0.10%Construction & Development$1.47%Commercial & Industrial$1.67%Energy C&I $5.424%Healthcare C&I$6.529%3/31/2017$16.6 million3/31/2016$22.3 millionKansas$0.11%Oklahoma$7.344%Texas$9.054%Other$0.21%Kansas$0.52%Oklahoma$5.625%Arizona$6.128%Texas$7.433%Other$2.712%

Loan Loss Reserve to NPL+PPL43.90%29.94%31.00%40.65%45.43%46.94%12/31/153/31/166/30/169/30/1612/31/163/31/2017Nonperforming loans include non-accruals and 90 days past due loans.PPL is defined as potential problem loans.

Credit Risk ProfileNonperforming assets defined as nonaccrual loans, loans past due 90 days or more and still accruing, and other real estate owned.0.0%1.0%2.0%3.0%4.0%5.0% $- $20,000 $40,000 $60,000 $80,000 $100,000 $120,00020122013201420152016 Q12016 Q22016 Q32016 Q42017 Q1($000s)NPAsPotential Problem LoansNPAs/Assets

Strong Core Deposit Franchise$1.98 billion Total Deposits (3/31/2017)Deposits by TypeCost of Deposits0.37%0.40%0.43%0.45%0.48%0.52%12/31/153/31/166/30/169/30/1612/31/163/31/2017Non-interest Bearing Demand$541 27%Interest Bearing Demand$178 9%Money market Accounts$591 30%Savings Accounts$58 3%Time Deposits $100,000 or More$353 18%Other Time Deposits$256 13%Dollars in millions.

NIM/Cost of Deposits0.37%0.40%0.43%0.45%0.48%0.52%3.48%3.54%3.48%3.42%3.40%3.43%0.0%0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%4.5%5.0% $19,000 $19,200 $19,400 $19,600 $19,800 $20,000 $20,200 $20,400Q4 '15Q1 '16Q2 '16Q3 '16Q4 '16Q1 '17($000s)Net Interest IncomeCost of DepositsNet Interest Margin

Noninterest Income$4,179$3,415$3,871$4,555$4,244$4,88012/31/153/31/166/30/169/30/1612/31/163/31/17Service Charges and FeesGain on Sales of LoansGain on Investment SecuritiesOtherDollars in thousands.

$17,099$15,996$15,268$16,156$15,826$15,30312/31/153/31/166/30/169/30/1612/31/163/31/17Salaries and Employee BenefitsOccupancyGeneral and AdministrativeOtherNoninterest ExpenseDollars in thousands.

Strong Capital PositionTier 1 Leverage RatioCommon Equity Tier 1Note: 3/31/15 calculated consistent with Basel III; previous figures consistent with General Risk-based Rules.Tier 1 Risk-based Capital RatioTotal Risk-Based Capital Ratio6.5% Well Capitalized8.0% Well Capitalized10.0% Well Capitalized5.0% Well Capitalized14.4%13.5%13.2%13.1%13.0%13.0%0.0%5.0%10.0%15.0%20.0%25.0%12/31/153/31/166/30/169/30/1612/31/163/31/1713.2%12.1%12.2%12.0%12.4%12.2%0.0%5.0%10.0%15.0%20.0%25.0%12/31/153/31/166/30/169/30/1612/31/163/31/1715.3%14.1%14.3%14.0%14.4%14.2%0.0%5.0%10.0%15.0%20.0%25.0%12/31/153/31/166/30/169/30/1612/31/163/31/1716.6%15.4%15.5%15.2%15.7%15.5%0.0%5.0%10.0%15.0%20.0%25.0%12/31/153/31/166/30/169/30/1612/31/163/31/17

2017 PrioritiesSuccessfully complete the proposed merger and consolidation with Simmons First National Corporation.Maintain strong credit quality along with conservative balance sheet and risk management.Continue appropriate growth in the commercial banking sector.Grow deposit base commensurate with loan growth.Focus on fee based income growth in mortgage, consumer and treasury.Assess, manage and add talent where available and appropriate throughout the organization.Drive growth in the healthcare banking segment.

ADDITIONAL FINANCIAL INFORMATION

Quarterly Net Income$4.6 $1.9 $5.4 $4.3 $6.2 $5.3 12/31/153/31/166/30/169/30/1612/31/163/31/17Dollars in millions.

Quarterly Pre-Tax, Pre-Provision Income$6.4 $7.5 $8.0 $8.4 $8.6 $9.4 12/31/153/31/166/30/169/30/1612/31/163/31/17Dollars in millions.

Quarterly Net Interest Margin3.48%3.54%3.48%3.42%3.40%3.43%12/31/153/31/166/30/169/30/1612/31/163/31/17

Total Loans by Segment$1,009.7 $1,012.4 $1,038.9 $1,052.8 $1,029.9 $1,153.4 $580.5 $560.4 $577.3 $605.7 $636.6 $639.9 $150.5 $161.0 $158.1 $156.7 $144.6 $143.1 $38.8 $48.1 $47.1 $64.9 $66.1 $63.4 $1,779$1,782$1,821$1,880$1,877$2,00012/31/153/31/166/30/169/30/1612/31/163/31/17OklahomaTexasKansasColoradoDollars in millions.

Potential Problem Loans by Segment$30.2 $43.4 $43.1 $21.0 $20.1 $22.0 $4.2 $18.8 $17.7 $21.0 $19.8 $16.3 $2.0 $3.6 $2.7 $2.7 $4.0$3.6 $2.8 $2.7 $0.8 $0.7 $0.1 $39.2$68.5$64.4$45.5$44.0$42.1-10103050709011012/31/153/31/166/30/169/30/1612/31/163/31/17OklahomaTexasKansasColoradoDollars in millions.

Provision for Loan Loss$(0.57)$4.38 $0.01 $1.71 $(1.33)$1.78 12/31/153/31/166/30/169/30/1612/31/163/31/17Dollars in millions.

Loan Loss Reserve to Total Portfolio Loans1.47%1.53%1.48%1.52%1.47%1.43%12/31/153/31/166/30/169/30/1612/31/163/31/17

Loan Loss Reserve to Nonperforming Loans128.23%122.01%120.39%116.02%165.84%166.01%12/31/153/31/166/30/169/30/1612/31/163/31/17

APPENDIX

The subsequent tables present non-GAAP reconciliations of the following calculations:–Tangible Common Equity (TCE) to Tangible Assets (TA) ratio–Tangible Book Value per Share–Pre-tax, Pre-provision Income

TCA to TA and Tangible Book Value Per ShareDollars in thousands, except per share amounts.12/31/201412/31/201512/31/20163/31/20166/30/20169/30/201612/31/20163/31/2017Total Equity270,786$ 296,098$ 286,629$ 285,661$ 282,360$ 283,820$ 286,629$ 290,914$ Less Goodwill & Core Deposits1,744 16,361 15,844 16,201 16,051 15,983 15,844 15,722 TCE269,042$ 279,737$ 270,785$ 269,460$ 266,309$ 267,837$ 270,785$ 275,192$ Total Assets1,942,034$ 2,357,022$ 2,475,392$ 2,360,819$ 2,402,262$ 2,468,042$ 2,475,392$ 2,522,594$ Less Goodwill & Core Deposits1,744 16,361 15,844 16,201 16,051 15,983 15,844 15,722 TA1,940,290$ 2,340,661$ 2,459,548$ 2,344,618$ 2,386,211$ 2,452,059$ 2,459,548$ 2,506,872$ Common Equity to Assets13.94%12.56%11.58%12.10%11.75%11.50%11.58%11.53%TCE to TA13.87%11.95%11.01%11.49%11.16%10.92%11.01%10.98%Shares outstanding19,193,059 20,006,802 18,674,727 19,285,045 18,750,783 18,685,385 18,674,727 18,689,022 Book Value per Common Share14.11$ 14.80$ 15.35$ 14.81$ 15.06$ 15.19$ 15.35$ 15.57$ Tangible BV per Share14.02$ 13.98$ 14.50$ 13.97$ 14.20$ 14.33$ 14.50$ 14.72$ 12/31/20153/31/20166/30/20169/30/201612/31/20163/31/2017Net Income4,589$ 1,869$ 5,412$ 4,255$ 6,168$ 5,279$ Taxes on income2,577 1,015 2,876 2,236 3,682 2,685 Provision(566)4,375101,713(1,329)1,776Provions for unfunded(163)215(263)14632(388)Pre-tax, Pre-provision Income6,437$ 7,474$ 8,035$ 8,350$ 8,553$ 9,352$ Pre-tax, Pre-provision Income

2017First QuarterEarnings PresentationApril 26, 2017NASDAQ: OKSB