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): June 2, 2008

SOUTHWEST BANCORP, INC.

(Exact name of registrant as specified in its charter)

Oklahoma	000-23064	73-1136584
(State or other jurisdiction	(Commission file	(IRS Employer
of incorporation)	number)	Identification No)

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

Registrant’s telephone number, including area code: (405) 372-2230

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:

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

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

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

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

TABLE OF CONTENTS

Item 8.01 Other Events.

Revised Operating Segment Disclosures
(unaudited)

Prior to 2008, Southwest Bancorp, Inc. reported four operating segments: Oklahoma Banking, Other States Banking, Secondary Market, and Other Operations. In the first quarter of 2008, Southwest changed its segment disclosures to report Texas Banking, Kansas Banking, and Other States Banking separately. The following disclosures present operating segment information for 2007 and 2006 using this expanded number of operating segments. It includes management’s discussion and analysis of segment financial condition and results of operations, and revised information originally presented in Note 21 to Southwest’s consolidated financial statements included in its 2007 Annual Report on 10-K. Comparable information for 2005 is not available. The increase in segments had no effect on consolidated financial condition or results.

REVISED OPERATING SEGMENT DISCLOSURE

Managements’ Discussion and Analysis of Financial Condition and Results of Operations

	FOR THE YEAR ENDED
CONTRIBUTION OF OPERATING SEGMENTS	DECEMBER 31,
(Dollars in thousands)	2007			2006
Oklahoma banking	$	15,937		$	13,669
Texas banking		6,550			4,787
Kansas banking		859			501
Other states banking		2,163			3,114
Secondary market		1,097			5,782
Other operations		(5,228	)		(1,856	)
Consolidated net income	$	21,378		$	25,997
Oklahoma banking	$	876,086		$	790,347
Texas banking		759,389			446,749
Kansas banking		282,847			190,982
Other states banking		227,235			174,648
Secondary market		66,275			188,464
Other operations		—			—
Consolidated total loans	$	2,211,832		$	1,791,190
Oklahoma banking	$	883,156		$	793,593
Texas banking		759,837			449,898
Kansas banking		294,927			192,020
Other states banking		230,109			177,650
Secondary market		71,843			201,131
Other operations		324,426			356,336
Consolidated total assets	$	2,564,298		$	2,170,628
Oklahoma banking	$	1,278,954		$	1,161,549
Texas banking		127,053			102,909
Kansas banking		120,754			57,694
Other states banking		—			—
Secondary market		1,346			763
Other operations		530,472			442,696
Consolidated total deposits	$	2,058,579		$	1,765,611

Information for the year ended December 31, 2005 is not available.

Southwest has six reportable operating segments: Oklahoma Banking operations; Texas Banking operations; Kansas Banking operations; Other States Banking operations; loans originated for sale in the secondary market (“Secondary Market”), and Other Operations. These business units were identified through the products and services that are offered within each unit and the geographic area they serve.

Capital is assigned and the credit allocated to each of the segments using Southwest’s risk based capital pricing methodology which assigns capital by asset, deposit, or revenue category based on Credit Risk, Interest Rate Risk, Market Risk, Operational Risk and Liquidity Risk.

In the first quarter of 2008, Southwest changed its segment disclosures to report Texas Banking, Kansas Banking and Other States banking separately. Portfolio loans are allocated based upon the state of the borrower, or the location of the real estate in the case of real estate loans. Loans included in “Other States Banking” ; segment are portfolio loans attributable to thirty-three states other than Oklahoma, Texas, or Kansas, and primarily consist of healthcare and commercial real estate credits. These other states loans are administered by offices in Oklahoma, Texas, or Kansas. The amounts for the years ended December 31, 2007 and 2006 have been revised using the same geographical locations.

The contribution of the Oklahoma Banking segment increased $2.3 million, or 17%, in 2007, primarily as a result of a decrease of $5.2 million in the provision for loan losses and an increase of $1.5 million in noninterest income, offset in part by decreased net interest income of $910,000, increased noninterest expenses of $1.1 million, and a $2.3 million increase in taxes.

The contribution of the Texas Banking segment increased by $1.8 million, or 37%, in 2007, primarily as a result of a $7.2 million increase in net interest income and an increase of $532,000 in noninterest income, offset in part by a $3.4 million increase in noninterest expenses, a $1.4 million increase in taxes, and a $1.2 million increase in the provision for loan loss.

The contribution of the Kansas Banking segment increased by $358,000, or 71%, in 2007, primarily as a result of a $2.1 million increase in net interest income, an increase of $435,000 in noninterest income, and a $252,000 decrease in the provision for loan loss, offset in part by a $2.3 million increase in noninterest expenses and an $140,000 increase in income taxes.

The Other States Banking segment contributed $2.2 million to net income in 2007, a reduction of $951,000, or 31%, from 2006. The reduction occurred primarily as a result of a $1.2 million increase in the provision for loan loss and a $485,000 increase in noninterest expenses, offset in part by a $417,000 decrease in income taxes and a $276,000 increase in net interest income.

At December 31, 2007, the Texas Banking segment accounted for $759.4 million in loans, the Kansas Banking segment accounted for $282.8 million in loans, and the Other States Banking segment accounted for $227.2 million in loans. In total, these segments accounted for $1.3 billion in loans, or 59% of total portfolio loans.

The growth in total portfolio loans from the Oklahoma, Texas, Kansas, and Other States Banking segments more than offset the decline in Secondary Market loans described below.

The Secondary Market segment contributed $1.1 million to net income in 2007, a reduction of $4.7 million, or 81%, from 2006. The reduction occurred primarily in net interest income, which decreased $7.8 million due primarily to the lower volumes of guaranteed student loans. This reduction, and a $276,000 decrease in other noninterest income, was partially offset by a $781,000 decrease in noninterest expense.

The Other Operations segment for 2007 includes the write-off of the $2.5 million cash receivable and the associated legal fees of approximately $785,000, and Stillwater National’s interest as a VISA issuing bank, of VISA USA litigation and settlement costs of $713,000. Also included in this segment are nonbank cash machine operations. Southwest reduced the number of operated machines to 6 as of December 31, 2007 from 90 as of December 31, 2006.

The Oklahoma Banking, Texas Banking, Kansas Banking, and the Other States Banking segments provide the majority of consolidated net interest income and net income, and by year-end 2007 accounted for approximately $2.2 billion, or 85%, of total assets.

The segment disclosures are based upon a number of assumptions and allocations of expense. Southwest allocates resources and evaluates performance of its segments after allocation of funds, indirect expenses, taxes, and capital costs. The funds management unit is included in the Other Operations segment. The value of funds provided and cost of funds borrowed from the funds management unit by the operating segments are internally priced at rates that approximate market rates for funds with similar duration.

Note: Operating Segments (Unaudited)

Southwest operates six principal segments: Oklahoma Banking, Texas Banking, Kansas Banking, Other States Banking, Secondary Market, and Other Operations. The Oklahoma Banking segment and the Texas Banking segment each consists of three operating units that provide lending and deposit services to customers in the states of Oklahoma and Texas, respectively. The Kansas Banking Segment consists of two operating units that provide lending and deposit services to customers in the state of Kansas. The Other States Banking segment provides lending to customers outside Oklahoma, Texas, and Kansas. The Secondary Market segment consists of two operating units: one that provides student lending services to post-secondary students in Oklahoma and several other states and the other that provides residential mortgage lending services to customers in Oklahoma, Texas, and Kansas. Southwest’s fund management unit is included in Other Operations. The primary purpose of this unit is to manage Southwest’s overall liquidity needs and interest rate risk. Each segment borrows funds from and provides funds to the funds management unit as needed to support their operations. The value of funds provided and cost of funds borrowed from the funds management unit by each segment are internally priced at rates that approximate market rates for funds with similar duration. The Other Operations segment also includes SNB Investor Services, corporate investments, consulting subsidiaries, and nonbank cash machine operations.

Southwest identifies reportable segments by type of service provided and geographic location. Operating results are adjusted for intercompany loan participations and borrowings, allocated service costs, and management fees.

The accounting policies of each reportable segment are the same as those of Southwest. Expenses for consolidated back-office operations are allocated to operating segments based on estimated uses of those services. General overhead expenses such as executive administration, accounting, and internal audit are allocated based on the direct expense and/or deposit and loan volumes of the operating segment. Income tax expense for the operating segments is calculated essentially at the statutory rate. The Other Operations segment records the tax expense or benefit necessary to reconcile to the consolidated financial statements.

Capital is assigned to each of the segments using a risk-based capital pricing methodology that assigns capital ratios by asset, deposit, or revenue category based on Credit Risk, Interest Rate Risk, Market Risk, Operational Risk, and Liquidity Risk. By including capital as a funding component, each operating segment’s performance is more accurately reported leaving fewer unallocated dollars in the fund management unit.

In the first quarter of 2008, Southwest changed its segment disclosures to report Texas, Kansas, and Other States separately. Portfolio loans are allocated based upon the state of the borrower, or the location of the real estate in the case of real estate loans. Loans included in “Other States Banking” segment are portfolio loans attributable to thirty-three states other than Oklahoma, Texas, or Kansas, and primarily consist of healthcare and commercial real estate credits. These other states loans are administered by offices in Oklahoma, Texas, or Kansas. The amounts for the years ended December 31, 2007 and 2006 have been revised using the same geographical locations.

The following table summarizes financial results by operating segment:

For the Year Ended December 31, 2007
	Oklahoma		Texas		Kansas		Other States		Secondary		Other			Total
(Dollars in thousands)	Banking		Banking		Banking		Banking		Market		Operations			Company
Net interest income (expense)	$	48,103	$	26,711	$	10,209	$	6,850	$	1,738	$	(1,131	)	$	92,480
Provision for loan losses		2,015		4,167		1,211		1,188		—		—			8,581
Noninterest income		9,505		1,616		181		119		3,403		1,726			16,550
Noninterest expenses		29,710		13,484		7,900		2,255		3,360		8,765			65,474
Income (loss) before taxes		25,883		10,676		1,279		3,526		1,781		(8,170	)		34,975
Income tax expense (benefit)		9,946		4,126		420		1,363		684		(2,942	)		13,597
Net income (loss)	$	15,937	$	6,550	$	859	$	2,163	$	1,097	$	(5,228	)	$	21,378
Fixed asset expenditures	$	1,169	$	728	$	545	$	—	$	57	$	788		$	3,287
Total loans at period end		876,086		759,389		282,847		227,235		66,275		—			2,211,832
Total assets at period end		883,156		759,837		294,927		230,109		71,843		324,426			2,564,298
Total deposits at period end (1)		1,278,954		127,053		120,754		—		1,346		530,472			2,058,579

(1) Brokered Deposits are included in the Oklahoma Banking Segment.

For the Year Ended December 31, 2006
	Oklahoma		Texas		Kansas			Other States		Secondary		Other			Total
(Dollars in thousands)	Banking		Banking		Banking			Banking		Market		Operations			Company
Net interest income	$	49,013	$	19,496	$	8,109		$	6,574	$	9,555	$	91		$	92,838
Provision for loan losses		7,183		2,919		1,463			—		—		—			11,565
Noninterest income (expense)		8,035		1,084		(254	)		90		3,679		4,142			16,776
Noninterest expenses		28,569		10,098		5,611			1,770		4,141		6,454			56,643
Income (loss) before taxes		21,296		7,563		781			4,894		9,093		(2,221	)		41,406
Income tax expense (benefit)		7,627		2,776		280			1,780		3,311		(365	)		15,409
Net income (loss)	$	13,669	$	4,787	$	501		$	3,114	$	5,782	$	(1,856	)	$	25,997
Fixed asset expenditures	$	455	$	425	$	83		$	—	$	—	$	1,952		$	2,915
Total loans at period end		790,347		446,749		190,982			174,648		188,464		—			1,791,190
Total assets at period end		793,593		449,898		192,020			177,650		201,131		356,336			2,170,628
Total deposits at period end (1)		1,161,549		102,909		57,694			—		763		442,696			1,765,611

(1) Brokered Deposits are included in the Oklahoma Banking Segment.

     Information for the year ended December 31, 2005 is not available.

Item 9.01 Financial Statements and Exhibits.

(a)	Financial statements of businesses acquired. Not applicable.
(b)	Pro forma financial information. Not applicable.
(c)	Shell company transactions. Not applicable.
(d)	Exhibits. Not applicable.

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/ Rick Green
	Rick Green
	President and Chief Executive Officer

Dated: June 2, 2008