8-K

 
                             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):  July 2, 1997
                                                   ------------

                            Southwest Bancorp, Inc.
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            (Exact name of registrant as specified in its charter)


       Oklahoma                     0-23064             73-1136584
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(State or other jurisdiction    (Commission file       (IRS Employer
     of incorporation)              number)        Identification Number)
 

608 South Main Street, Stillwater, Oklahoma         74074
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(Address of Principal Executive Offices)          (Zip Code)

Registrant's telephone number, including area code:  (405) 372-2300
                                                     --------------

 
Item 5. Other Events.
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For information regarding this item, see the Press Release filed as Exhibit 99.1
hereto.


Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a)  Financial Statements. Not applicable.
(b)  Pro Forma Financial Information.  Not applicable.
(c)  Exhibit 99.1- Press Release dated July 2, 1997.

                                  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.

                                Southwest Bancorp, Inc.
 
                                By:    /s/ Kerby Crowell
                                      -----------------------------    
                                           Kerby Crowell, Executive 
                                            Vice President & CFO

Dated: July 3, 1997

EX-99.1

 
                                 EXHIBIT 99.1

 
                            SOUTHWEST BANCORP, INC.


CONTACT:      KERBY CROWELL, EXECUTIVE VICE PRESIDENT & C.F.O.   
TELEPHONE:    (405) 372-2230                
RELEASE DATE: JULY 2, 1997

                            SOUTHWEST BANCORP, INC.
               ANNOUNCES POTENTIAL SALE OF CREDIT CARD PORTFOLIO


     Southwest Bancorp, Inc. (NASDAQ: OKSB, OKSBP, OKSBO), Inc. announced today
that its principal subsidiary, the Stillwater National Bank and Trust Company,
is negotiating the terms of a possible sale of all or a substantial portion of
its existing credit card portfolio at a premium before taxes, but net of other,
related expenses, that is preliminarily estimated to range from $3.0 million to
$4.5 million. Any such sale is subject to negotiation of a definitive agreement
and the completion of a due diligence review by the potential acquiror, among
other things. The Company anticipates that, subject to satisfaction of those
conditions, such a sale would be completed during 1997.

     It is expected that any agreement for sale would allow Stillwater National
Bank and Trust Company to retain its affiliation with its credit card customers.


     Southwest Bancorp, Inc. is a publicly-owned company headquartered in
Oklahoma. Its subsidiary, the Stillwater National Bank and Trust Company,
operates six offices located in Stillwater, Tulsa, Oklahoma City and Chickasha,
Oklahoma.