Exhibit 99

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

Southwest Bancorp Reports 2008 Earnings, Increased Capital

     January 21, 2009, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market—OKSB), (“Southwest”), today reported net income available to common shareholders of $3.0 million, or $0.20 per diluted share for the fourth quarter 2008, compared to $4.5 million, or $0.31 per diluted share for the fourth quarter of 2007. Net income available to common shareholders for the year ended December 31, 2008 was $14.7 million, or $1.00 per diluted share, compared to $21.4 million, or $1.46 per diluted share, for the prior year. At December 31, 2008, total assets were $2.9 billion compared to $2.6 billion at December 31, 2007, and shareholders’ equity was $302.2 million compared to $217.6 million at year-end 2007.

     “We continue to focus on our strategic goal of building long-term shareholder value during these uncertain times,” stated Rick Green, President and Chief Executive Officer.

     “Southwest continues to generate earnings and dividends for our shareholders, but our 2008 performance was disappointing. As explained further below, the main causes are linked to current economic conditions – the competitive pressures that have caused reductions in rates on deposits and other funding sources to decrease less than the drop in rates on earning assets and the market conditions that have required increases in our allowance for loan losses. (For additional information, please see page 2 for an analysis of the effects that changes in rates had on our net interest income and a discussion of the increase in the allowance.)

     “Our strategic vision includes continued emphasis on prudent lending in carefully selected markets in Texas, Oklahoma, and Kansas; careful expansion of our community banking operations; and increases in stable funding sources at reasonable cost. In 2008, we took important steps that we believe will make Southwest better positioned both now and when the economy improves. These include raising over $100 million in new capital from our July public offering and the December issuance of securities to the U.S. Treasury. We believe the new capital will help us take better advantage of opportunities for prudent loan growth while continuing to maintain appropriate capitalization. We have a clear focus on intelligent expense control. We are evaluating additional consumer banking branches in our existing and nearby markets.”

     At year end, our portfolio loans were $2.5 billion. Approximately $1.3 billion, or 50%, of our total portfolio loans at December 31, 2008, were in our Texas and Kansas segments:

• Oklahoma portfolio loans were $966.2 million or 39%,

• Texas portfolio loans were $947.6 million, or 38%,

• Kansas portfolio loans were $304.9 million, or 12%, and

• Other States portfolio loans were $275.8 million, or 11%

     The validity of our strategic decision not to rely on any significant amounts of residential mortgages and not to make subprime loans was reinforced by recent market events. Subprime lending has never been a part of our strategy, one to four family mortgages are less than 5% of our portfolio, and one to four family residential construction loans are less than 4% of our portfolio.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Reports Earnings, Increased Capital

Capital Raising

     Proceeds from our 2008 capital issuances are being used to increase our regulatory capital, to fund prudent loan growth, and for other corporate purposes. Please see the following discussion and financial tables and the disclosures under the heading “Forward-looking Statements” on page 4.

     In early July, we completed the issuance of $34.5 million in trust preferred securities in a public offering. In December we issued Fixed Rate Cumulative Preferred Stock, Series B and a warrant to purchase 703,743 shares of our common stock for a total price of $70 million. Southwest allocated $66.3 million to the Series B Preferred Stock and $3.7 million to the warrant based on their relative fair values at the issue date. Accrued dividends on the Series B Preferred are included in other liabilities on our statement of financial condition.

Net Interest Margin

     As shown below, the positive earnings effect of our loan growth continued to be offset by the significant margin compression that began last year. For the year ended December 31, 2008, the net interest margin of 3.36% was down 84 basis points from the year ended December 31, 2007. During 2008, the compression in rates more than offset the positive effects of our earning asset growth. As a result, net interest income decreased by $2.9 million, or 3% for the year ended December 31, 2008.

	Net Effects of Growth and Margin Compression:
	Year 2008 vs. Year 2007
	Change in Net Interest Income Due to Changes in:
(Dollars in thousands)	Volume		Rate			Total
Total interest income	$	33,228	$	(47,502	)	$	(14,274	)
Total interest expense		16,948		(28,344	)		(11,396	)
Net interest income	$	16,280	$	(19,158	)	$	(2,878	)

     The 2008 fourth quarter net interest margin of 3.22% decreased 67 basis points from fourth quarter 2007, and decreased 17 basis points from third quarter 2008.

Financial Overview

     Condition: Total assets were $2.9 billion at December 31, 2008, an increase of 12% from $2.6 billion at December 31, 2007. At December 31, 2008 total loans were $2.6 billion versus $2.2 billion at December 31, 2007.

     At December 31, 2008, the allowance for loan losses was $39.8 million, up 34%, from year-end 2007, and represented 1.59% of portfolio loans versus 1.38% at December 31, 2007. The methodology used to determine the appropriate amount of the allowance for loan losses at a particular time includes consideration of risk factors related to Southwest and to our markets, including regular assessments of national and local economic conditions and trends. The provision for loan losses increased by $10.4 million, or 121% during 2008 compared to 2007.

     Non-performing assets to total assets were 2.43% at December 31, 2008 compared to 2.35% at September 30, 2008 and 1.26% at December 31, 2007.

				Percentage of
	Percentage of			non-performing
	total loans			assets
Real estate construction		25.84	%		59.01	%
Commercial		22.13			17.33
Commercial real estate		43.85			14.11
Other real estate owned		—			8.69
Residential real estate mortgages		4.46			0.74
Other consumer loans		3.72			0.12

     Nonaccrual loans, which are the majority of nonperforming assets, were $59.3 million as of December 31, 2008, a decrease of $2.2 million from September 30, 2008, and an increase of $39.8 million from December 31, 2007. These loans are carried at their estimated collectible amounts and no longer accrue interest. The year-to-date increase in nonaccrual loans is primarily due to two collateral dependent lending relationships that are secured by real estate and an increase in the over 90 days past due loans. Performing loans considered potential problem loans,

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NASDAQ: OKSB
OKSBP

Southwest Bancorp Reports Earnings, Increased Capital

which are not included in the past due, nonaccrual, or restructured categories, but for which known information about possible credit problems cause management to be uncertain as to the ability of the borrowers to comply with the present loan repayment terms, amounted to approximately $131.5 million at December 31, 2008, compared to $86.1 million at September 30, 2008 and $61.6 million at December 31, 2007. These loans are subject to continuing management attention and are considered by management in determining the level of the allowance for loan losses.

     Total deposits were $2.2 billion at December 31, 2008, up $121.5 million from December 31, 2007. Core deposits were 64.08% of total deposits or $1.4 billion.

     On December 31, 2008, Southwest exceeded all applicable regulatory capital requirements and each of its banking subsidiaries met the criteria for regulatory classification as “well-capitalized”. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank or thrift regulators.

     Year-to-date Results: Net interest income totaled $89.7 million for 2008 compared to $92.6 million for 2007. Net interest margin for the year was 3.36% for 2008 compared to 4.20% in 2007. The decrease in net interest income and net interest margin is the result of Southwest’s interest rate sensitivity position and the margin compression produced by governmental actions and market conditions. This margin compression offset significant positive effects on net interest income from our loan growth. The yields on earning assets decreased by 194 basis points from the prior year while our cost of funds decreased by only 139 basis points, resulting in a 55 basis point decline in net interest spread.

     The provision for loan losses for 2008 was $19.0 million compared to $8.6 million for 2007. Net charge offs totaled $8.8 million, or 0.35% of portfolio loans, for the year ended December 31, 2008 versus net charge offs of $6.3 million, or 0.29% of portfolio loans for the prior year.

     Noninterest income totaled $16.1 million in 2008, compared to $16.4 million for 2007. The slight decrease in noninterest income from 2007 was the result of a $682,000 decrease in gain on sale of investment securities and a $675,000 decrease in the gain on sale of loans, offset by a $1.1 million increase in service charges and fees.

     Noninterest expense for 2008 was $62.5 million versus $65.5 million in 2007. The decrease from 2007 in noninterest expense is the result of a $3.2 million decrease in other general and administrative expenses, which reflects last year’s $2.5 million ATM-related write-off and Stillwater National’s estimated share, as a VISA issuing bank, of VISA USA litigation costs of $713,000; a $2.0 million decrease in personnel expense, and a $494,000 decrease in the provision for unfunded loan commitments, offset by a $1.5 million increase in FDIC and other insurance, a $1.0 million increase in occupancy expense, and a $204,000 increase in net other real estate expense.

     The efficiency ratio improved to 59.03% for 2008 from 60.05% in 2007.

     Fourth Quarter Results: Net interest income totaled $22.4 million for the fourth quarter of 2008 compared to $23.5 million for the fourth quarter of 2007. Net interest margin was 3.22% for the fourth quarter of 2008, 3.89% for the fourth quarter of 2007, and 3.39% for the third quarter of 2008. The yield on earning assets decreased by 207 basis points from the fourth quarter 2007 while rates paid on interest bearing liabilities decreased by only 169 basis points.

     The provision for loan losses totaled $6.7 million for the fourth quarter of 2008 compared to $2.5 million for the fourth quarter of 2007. Net charge offs totaled $2.7 million, or 0.44% (annualized) of portfolio loans for the fourth quarter of 2008, compared to $1.2 million, or 0.22% (annualized) of portfolio loans at for the fourth quarter of 2007.

     Noninterest income totaled $3.4 million for the fourth quarter of 2008 compared to $4.1 million for the same quarter of 2007. The decrease in noninterest income from 2007 was the result of a $301,000 decrease in gain on sale of investment securities, a $255,000 decrease in other noninterest income, and a $163,000 decrease in gain on sale of loans, offset in part by a $77,000 increase in service charges and fee income.

     Noninterest expense decreased $3.9 million from the fourth quarter 2007 to the fourth quarter of 2008 to $13.8 million. The decrease consists of a $3.4 million decrease in personnel expense, which reflects the reversal of $2.4 million in bonus and profit sharing expense that was accrued during the first nine months of 2008; and a $1.1 million decrease in other general and administrative expenses, which includes a net reversal of $513,000 in the VISA USA litigation costs, a $434,000 reclassification of net deposit overdraft charge-offs and recoveries from

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NASDAQ: OKSB
OKSBP

Southwest Bancorp Reports Earnings, Increased Capital

expenses to the provision for loan losses, and a $260,000 adjustment to loan origination expenses; offset in part by a $420,000 increase in FDIC and other insurance and a $304,000 increase in occupancy expense.

     The efficiency ratio for the fourth quarter of 2008 improved to 53.37% from 64.02% for the fourth quarter of 2007.

     Certain Legal Matters: Stillwater National and other Visa USA member banks are obligated to share in costs resulting from litigation against Visa USA, including the costs of the November 9, 2007, settlement of an antitrust lawsuit brought by American Express and potential costs of certain other pending litigation. In the fourth quarter of 2007, Southwest recorded approximately $713,000 as its estimated share of the settlement and other pending litigation expenses relating to these obligations. In March 2008, VISA completed an initial public offering. This transaction allowed VISA to place part of the cash proceeds into an escrow which will be utilized to pay litigation and settlement expenses. Southwest’s portion of this escrow is approximately $566,000 which was reflected in the first quarter 2008 financial statements as a reduction in general and administrative expense and the related payable established in the fourth quarter 2007. In the fourth quarter Southwest increased the related payable by $200,000 as an increase to general and administrative expenses based on our review of outstanding litigation. These amounts are an estimate and further adjustments may be required.

Southwest Bancorp and Subsidiaries

     Southwest Bancorp is the financial holding company for Stillwater National, Bank of Kansas (“SNB Kansas”), SNB Bank of Wichita (“SNB Wichita”), Healthcare Strategic Support, Inc., and Business Consulting Group, Inc. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit, and investment services, and specialized cash management, consulting, and other financial services from offices in Chickasha, Edmond, Oklahoma City, Stillwater, and Tulsa, Oklahoma; Austin, Dallas, Houston and San Antonio, Texas; and Hutchinson, Kansas City, and Wichita, Kansas, and on the Internet, through SNB DirectBanker^®.

     Southwest focuses on converting its strategic vision into long-term shareholder value. Our vision includes an established niche banking model focused on healthcare and commercial real estate financial services in Texas, Oklahoma, and Kansas and a community banking model focused on more traditional banking operations in those states. Southwest’s strategic growth goals include prudent growth from existing and additional offices in carefully selected markets in Texas and other states with concentrations of healthcare and health professionals, businesses, and their managers and owners, and commercial and commercial real estate borrowers, and careful expansion of community banking operations.

     On September 22, 2008, Southwest announced the planned merger of SNB Wichita with SNB Kansas, which is expected to occur in the first quarter of 2009. This merger has received regulatory approval and is intended to create more convenience for customers and operational efficiencies for Southwest.

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

Forward-Looking Statements

     This Press Release includes forward-looking statements, such as: statements of Southwest’s goals, intentions, and expectations; estimates of risks and of future costs and benefits; assessments of the amount and timing of loan growth, performing and problem loan payoffs and loan losses; off-balance sheet risk and market risk; and statements of Southwest’s ability to achieve financial and other goals. These forward-looking statements are subject to significant uncertainties because they are based upon: future interest rates, market behavior, the effects on general economic conditions in our market of recent subprime and other lending problems, and other economic conditions; future laws and regulations; and a variety of other matters. Because of these uncertainties, the actual future results may be materially different from the results indicated by these forward-looking statements. In addition, Southwest’s past growth and performance do not necessarily indicate its future results.

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NASDAQ: OKSB
OKSBP

Southwest Bancorp Reports Earnings, Increased Capital

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 Summary Financial Data by Quarter-2008 and 2007	Table 6
Unaudited Supplemental Analytical Data by Quarter-2008 and 2007	Table 7

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

QUARTERLY HIGHLIGHTS

	Fourth Quarter									Third Quarter
							%						%
	2008			2007			Change			2008			Change
Operations
Net interest income	$	22,414		$	23,536			(5	)%	$	23,188			(3	)%
Provision for loan losses		6,698			2,464			172			6,855			(2	)
Noninterest income		3,429			4,071			(16	)		4,062			(16	)
Noninterest expense		13,793			17,673			(22	)		16,533			(17	)
Income before taxes		5,352			7,470			(28	)		3,862			39
Taxes on income		2,127			2,949			(28	)		1,556			37
Net income		3,225			4,521			(29	)		2,306			40
Diluted earnings per share		0.20			0.31			(35	)		0.16			25
Balance Sheet
Total assets		2,879,762			2,564,298			12			2,832,371			2
Loans held for sale		56,941			66,275			(14	)		72,248			(21	)
Portfolio loans		2,494,506			2,145,557			16			2,440,091			2
Total deposits		2,180,122			2,058,579			6			2,198,719			(1	)
Total shareholders’ equity		302,203			217,609			39			226,123			34
Book value per share		16.18			15.16			7			15.56			4
Key Ratios
Net interest margin		3.22	%		3.89	%					3.39	%
Efficiency ratio (GAAP-based)		53.37			64.02						60.67
Total capital to risk-weighted assets		14.26			10.97						11.88
Nonperforming loans to portfolio loans		2.56			1.38						2.62
Shareholders’ equity to total assets		10.49			8.49						7.98
Return on average assets		0.45			0.72						0.33
Return on average equity		5.11			8.24						3.97

YEAR-TO-DATE HIGHLIGHTS

	Twelve Months
							%
	2008			2007			Change
Operations
Net interest income	$	89,719		$	92,597			(3	)%
Provision for loan losses		18,979			8,581			121
Noninterest income		16,138			16,433			(2	)
Noninterest expense		62,488			65,474			(5	)
Income before taxes		24,390			34,975			(30	)
Taxes on income		9,489			13,597			(30	)
Net income		14,901			21,378			(30	)
Diluted earnings per share		1.00			1.46			(32	)
Balance Sheet
Total assets		2,879,762			2,564,298			12
Loans held for sale		56,941			66,275			(14	)
Portfolio loans		2,494,506			2,145,557			16
Total deposits		2,180,122			2,058,579			6
Total shareholders’ equity		302,203			217,609			39
Book value per share		16.18			15.16			7
Key Ratios
Net interest margin		3.36	%		4.20	%
Efficiency ratio (GAAP-based)		59.03			60.05
Total capital to risk-weighted assets		14.26			10.97
Nonperforming loans to portfolio loans		2.56			1.38
Shareholders’ equity to total assets		10.49			8.49
Return on average assets		0.54			0.94
Return on average equity		6.40			10.19

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

Please see accompanying tables for additional financial information.

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

	December 31,			December 31,
	2008			2007
Assets
Cash and due from banks	$	27,287		$	45,678
Investment securities:
Held to maturity. Fair value: $7,293 $5,838		7,343			5,838
Available for sale. Amortized cost: $233,293 $232,880		238,037			233,531
Other investments, at cost		18,786			17,239
Loans held for sale		56,941			66,275
Loans receivable		2,494,506			2,145,557
Less: Allowance for loan losses		(39,773	)		(29,584	)
Net loans receivable		2,454,733			2,115,973
Accrued interest receivable		11,512			23,117
Premises and equipment, net		24,580			24,323
Other real estate owned		6,092			2,679
Goodwill		7,071			7,064
Other intangible assets, net		3,764			4,580
Other assets		23,616			18,001
Total assets	$	2,879,762		$	2,564,298
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand	$	261,940		$	257,067
Interest-bearing demand		76,027			63,323
Money market accounts		454,250			541,950
Savings accounts		14,135			13,032
Time deposits of $100,000 or more		802,244			690,985
Other time deposits		571,526			492,222
Total deposits		2,180,122			2,058,579
Accrued interest payable		7,018			11,441
Income tax payable		3,651			1,766
Other liabilities		9,667			10,154
Other borrowings		295,138			218,356
Subordinated debentures		81,963			46,393
Total liabilities		2,577,559			2,346,689
Shareholders’ equity
Series B preferred stock — $1 par value; 70,000 shares authorized and issued		66,392			—
Common stock — $1 par value; 20,000,000 shares authorized; 14,658,042 shares issued		14,658			14,658
Paid in capital		49,101			46,478
Retained earnings		170,579			161,482
Accumulated other comprehensive income		2,921			408
Treasury stock, at cost, 80,383 300,833 shares		(1,448	)		(5,417	)
Total shareholders’ equity		302,203			217,609
Total liabilities and shareholders’ equity	$	2,879,762		$	2,564,298

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

	For the three months					For the twelve months
	ended December 31,					ended December 31,
	2008			2007		2008		2007
Interest income
Loans	$	36,183		$	43,549	$	152,719	$	165,759
Investment securities		2,693			2,713		9,986		11,055
Other interest-earning assets		19			35		89		254
Total interest income		38,895			46,297		162,794		177,068
Interest expense
Interest-bearing deposits		13,263			19,199		61,022		73,139
Other borrowings		1,487			2,620		7,242		7,555
Subordinated debentures		1,731			942		4,811		3,777
Total interest expense		16,481			22,761		73,075		84,471
Net interest income		22,414			23,536		89,719		92,597
Provision for loan losses		6,698			2,464		18,979		8,581
Net interest income after provision for loan losses		15,716			21,072		70,740		84,016
Noninterest income
Service charges and fees		2,908			2,831		11,026		9,920
Gain on sales of loans		620			783		2,664		3,339
Gain (loss) on investment securities		(296	)		5		902		1,584
Other noninterest income		197			452		1,546		1,590
Total noninterest income		3,429			4,071		16,138		16,433
Noninterest expense
Salaries and employee benefits		6,389			9,838		33,330		35,287
Occupancy		2,844			2,540		10,872		9,845
FDIC and other insurance		645			225		2,088		622
Other real estate, net		31			64		146		(58	)
General and administrative		3,884			5,006		16,052		19,778
Total noninterest expenses		13,793			17,673		62,488		65,474
Income before taxes		5,352			7,470		24,390		34,975
Taxes on income		2,127			2,949		9,489		13,597
Net income	$	3,225		$	4,521	$	14,901	$	21,378
Net income available to common shareholders	$	2,982		$	4,521	$	14,658	$	21,378
Basic earnings per common share	$	0.21		$	0.32	$	1.01	$	1.49
Diluted earnings per common share		0.20			0.31		1.00		1.46
Common dividends declared per share		0.0950			0.0925		0.3800		0.3700

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

	For the three months ended December 31,
	2008								2007
	Average					Average			Average					Average
	Balance			Interest		Yield/Rate			Balance			Interest		Yield/Rate
Assets
Loans	$	2,512,425		$	36,183		5.73	%	$	2,121,088		$	43,549		8.15	%
Investment securities		249,846			2,693		4.29			274,805			2,713		3.92
Other interest-earning assets		5,116			19		1.48			2,736			35		5.08
Total interest-earning assets		2,767,387			38,895		5.59			2,398,629			46,297		7.66
Other assets		68,822								76,459
Total assets	$	2,836,209							$	2,475,088
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits	$	76,359		$	130		0.68	%	$	61,061		$	94		0.61	%
Money market accounts		513,095			2,132		1.65			510,596			5,370		4.17
Savings accounts		14,375			11		0.30			13,694			22		0.64
Time deposits		1,300,295			10,990		3.36			1,121,143			13,713		4.85
Total interest-bearing deposits		1,904,124			13,263		2.77			1,706,494			19,199		4.46
Other borrowings		297,155			1,487		1.99			225,703			2,620		4.61
Subordinated debentures		81,963			1,731		8.45			46,393			942		8.12
Total interest-bearing liabilities		2,283,242			16,481		2.87			1,978,590			22,761		4.56
Noninterest-bearing demand deposits		279,268								255,651
Other liabilities		22,693								23,066
Shareholders’ equity		251,006								217,781
Total liabilities and shareholders’ equity	$	2,836,209							$	2,475,088
Net interest income and spread				$	22,414		2.72	%				$	23,536		3.10	%
Net interest margin (1)							3.22	%							3.89	%
Average interest-earning assets to average interest-bearing liabilities		121.20	%							121.23	%

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

SOUTHWEST BANCORP, INC.	Table 5
UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES
(Dollars in thousands)

	For the twelve months ended December 31,
	2008								2007
	Average					Average			Average					Average
	Balance			Interest		Yield/Rate			Balance			Interest		Yield/Rate
Assets
Loans	$	2,429,129		$	152,719		6.29	%	$	1,922,867		$	165,759		8.62	%
Investment securities		238,653			9,986		4.18			277,263			11,055		3.99
Other interest-earning assets		3,854			89		2.31			5,136			254		4.95
Total interest-earning assets		2,671,636			162,794		6.09			2,205,266			177,068		8.03
Other assets		71,263								74,159
Total assets	$	2,742,899							$	2,279,425
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits	$	75,950		$	584		0.77	%	$	62,038		$	355		0.57	%
Money market accounts		538,148			12,620		2.35			449,266			19,664		4.38
Savings accounts		13,930			69		0.50			12,274			87		0.71
Time deposits		1,253,057			47,749		3.81			1,071,788			53,033		4.95
Total interest-bearing deposits		1,881,085			61,022		3.24			1,595,366			73,139		4.58
Other borrowings		274,106			7,242		2.64			161,684			7,555		4.67
Subordinated debentures		64,064			4,811		7.51			46,393			3,777		8.14
Total interest-bearing liabilities		2,219,255			73,075		3.29			1,803,443			84,471		4.68
Noninterest-bearing demand deposits		268,770								244,459
Other liabilities		22,043								21,638
Shareholders’ equity		232,831								209,885
Total liabilities and shareholders’ equity	$	2,742,899							$	2,279,425
Net interest income and spread				$	89,719		2.80	%				$	92,597		3.35	%
Net interest margin (1)							3.36	%							4.20	%
Average interest-earning assets to average interest-bearing liabilities		120.38	%							122.28	%

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

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

	2008										2007
	Dec. 31			Sep. 30			Jun. 30		Mar. 31		Dec. 31		Sep. 30			Jun. 30			Mar. 31
OPERATIONS
Interest income:
Loans	$	36,183		$	38,441		$	37,485	$	40,610	$	43,549	$	42,346		$	39,578		$	40,286
Investment securities		2,693			2,531			2,426		2,336		2,713		2,816			2,847			2,679
Other interest-earning assets		19			22			20		28		35		39			115			65
Total interest income		38,895			40,994			39,931		42,974		46,297		45,201			42,540			43,030
Interest expense:
Interest bearing demand deposits		130			147			166		141		94		82			98			81
Money market accounts		2,132			2,898			3,062		4,528		5,370		5,589			4,743			3,962
Savings accounts		11			17			19		22		22		24			21			20
Time deposits of $100,000 or more		6,419			6,879			7,051		7,865		7,873		7,445			7,781			8,132
Other time deposits		4,571			4,457			4,809		5,698		5,840		5,684			5,250			5,028
Total interest-bearing deposits		13,263			14,398			15,107		18,254		19,199		18,824			17,893			17,223
Other borrowings		1,487			1,839			1,887		2,029		2,620		1,715			1,089			2,131
Subordinated debentures		1,731			1,569			653		858		942		956			946			933
Total interest expense		16,481			17,806			17,647		21,141		22,761		21,495			19,928			20,287
Net interest income		22,414			23,188			22,284		21,833		23,536		23,706			22,612			22,743
Provision for loan losses		6,698			6,855			3,190		2,236		2,464		2,149			2,107			1,861
Noninterest income:
Service charges and fees		2,908			2,849			2,812		2,457		2,831		2,548			2,306			2,235
Gain on sales of loans		620			601			603		840		783		548			800			1,208
Gain (loss) on investment securities		(296	)		(50	)		3		1,245		5		108			1,919			(448	)
Other noninterest income		197			662			541		146		452		422			400			316
Total noninterest income		3,429			4,062			3,959		4,688		4,071		3,626			5,425			3,311
Noninterest expense:
Salaries and employee benefits		6,389			8,863			8,856		9,222		9,838		8,966			8,358			8,125
Occupancy		2,844			2,968			2,602		2,458		2,540		2,514			2,388			2,403
FDIC and other insurance		645			469			521		453		225		134			140			123
Other real estate, net		31			(92	)		197		10		64		(12	)		(41	)		(69	)
Unfunded loan commitments		385			90			15		145		368		675			151			(65	)
Other general and administrative		3,499			4,235			4,141		3,542		4,638		3,885			3,812			6,314
Total noninterest expenses		13,793			16,533			16,332		15,830		17,673		16,162			14,808			16,831
Income before taxes		5,352			3,862			6,721		8,455		7,470		9,021			11,122			7,362
Taxes on income		2,127			1,556			2,559		3,247		2,949		3,505			4,281			2,862
Net income	$	3,225		$	2,306		$	4,162	$	5,208	$	4,521	$	5,516		$	6,841		$	4,500
Net income available to common shareholders	$	2,982		$	2,306		$	4,162	$	5,208	$	4,521	$	5,516		$	6,841		$	4,500
PER SHARE DATA
Basic earnings per common share	$	0.21		$	0.16		$	0.29	$	0.36	$	0.32	$	0.38		$	0.48		$	0.32
Diluted earnings per common share		0.20			0.16			0.28		0.36		0.31		0.38			0.47			0.31
Common dividends declared per share		0.9500			0.0950			0.0950		0.0950		0.0925		0.0925			0.0925			0.0925
Book value per share		16.18			15.56			15.49		15.43		15.16		14.92			14.53			14.14
Tangible book value per share		15.69			15.08			15.00		14.95		14.66		14.45			14.44			14.05
Weighted average common shares outstanding:
Basic		14,540,733			14,527,893			14,526,038		14,413,686		14,353,910		14,335,008			14,299,111			14,263,698
Diluted		14,673,616			14,676,082			14,680,262		14,608,190		14,584,878		14,612,732			14,644,863			14,642,913
OTHER FINANCIAL DATA
Investment securities	$	264,166		$	241,728		$	234,429	$	236,059	$	256,608	$	293,518		$	278,330		$	274,402
Loans held for sale		56,941			72,248			62,892		66,364		66,275		78,417			73,011			108,025
Portfolio loans		2,494,506			2,440,091			2,381,893		2,287,606		2,145,557		1,933,223			1,769,528			1,667,195
Total loans		2,551,447			2,512,339			2,444,785		2,353,970		2,211,832		2,011,640			1,842,539			1,775,220
Total assets		2,879,762			2,832,371			2,773,013		2,670,580		2,564,298		2,386,852			2,196,005			2,194,179
Total deposits		2,180,122			2,198,719			2,211,001		2,094,927		2,058,579		1,912,719			1,823,806			1,803,181
Other borrowings		295,138			299,118			265,614		282,513		218,356		190,847			95,561			123,212
Subordinated debentures		81,963			81,963			46,393		46,393		46,393		46,393			46,393			46,393
Total shareholders’ equity		302,203			226,123			224,949		224,155		217,609		213,838			208,185			201,777
Mortgage servicing portfolio		158,143			153,250			147,672		145,028		141,680		136,294			134,444			134,259

Continued

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

	2008												2007
	Dec. 31			Sep. 30			Jun. 30			Mar. 31			Dec. 31			Sep. 30			Jun. 30			Mar. 31
PERFORMANCE RATIOS
Return on average assets (annualized)		0.45	%		0.33	%		0.62	%		0.80	%		0.72	%		0.96	%		1.28	%		0.83	%
Return on average common equity (annualized)		5.15			3.97			7.38			9.43			8.24			10.29			13.26			9.04
Return on average tangible equity (annualized)		5.79			4.26			7.86			9.94			8.86			10.88			13.70			9.23
Net interest margin		3.22			3.39			3.38			3.45			3.89			4.25			4.36			4.34
Total dividends declared to net income		50.49			59.85			33.16			26.37			29.37			24.04			19.37			29.32
Effective tax rate		39.74			40.29			38.07			38.40			39.48			38.85			38.49			38.88
Efficiency ratio		53.37			60.67			62.23			59.69			64.02			59.13			52.82			64.60
ASSET QUALITY RATIOS
Nonperforming assets to portfolio loans and other real estate owned		2.80	%		2.72	%		1.45	%		1.41	%		1.50	%		1.59	%		1.45	%		1.88	%
Nonperforming loans to portfolio loans		2.56			2.62			1.35			1.27			1.38			1.50			1.37			1.77
Net loan charge-offs to portfolio loans		0.44			0.39			0.30			0.33			0.22			0.39			0.40			0.35
Allowance for loan losses to total loans		1.56			1.43			1.28			1.27			1.34			1.41			1.52			1.56
Allowance for loan losses to portfolio loans		1.59			1.47			1.32			1.31			1.38			1.46			1.59			1.66
Allowance for loan losses to nonperforming loans		62.16			56.07			97.62			103.49			100.04			97.32			115.65			94.18
CAPITAL RATIOS
Average total shareholders’ equity to average assets		8.85	%		8.26	%		8.35	%		8.49	%		8.80	%		9.30	%		9.64	%		9.15	%
Leverage ratio		13.06			10.51			9.66			9.91			10.23			10.92			11.73			11.12
Tier 1 capital to risk-weighted assets		13.01			10.49			9.40			9.47			9.71			10.49			11.84			12.44
Total capital to risk-weighted assets		14.26			11.88			10.65			10.69			10.97			11.76			13.13			13.68
LOANS BY SEGMENT**
Oklahoma banking	$	966,243		$	962,611		$	965,952		$	943,331		$	876,085		$	844,859		$	804,906		$	766,990
Texas banking		947,603			892,998			857,160			797,700			759,389			644,749			567,236			507,384
Kansas banking		304,855			288,268			277,887			287,339			282,846			251,131			198,228			206,405
Other states banking		275,805			296,214			280,894			259,236			227,237			192,484			199,158			186,416
Subtotal		2,494,506			2,440,091			2,381,893			2,287,606			2,145,557			1,933,223			1,769,528			1,667,195
Secondary market		56,941			72,248			62,892			66,364			66,275			78,417			73,011			108,025
Total loans	$	2,551,447		$	2,512,339		$	2,444,785		$	2,353,970		$	2,211,832		$	2,011,640		$	1,842,539		$	1,775,220
NET INCOME BY SEGMENT**
Oklahoma banking	$	3,783		$	3,295		$	2,923		$	2,503		$	3,080		$	3,759		$	4,820		$	4,278
Texas banking		2,036			1,332			1,777			2,406			1,701			1,638			1,568			1,643
Kansas banking		(204	)		(1,336	)		(40	)		458			82			243			326			208
Other states banking		(89	)		848			1,028			969			225			768			930			240
Subtotal		5,526			4,139			5,688			6,336			5,088			6,408			7,644			6,369
Secondary market		139			(149	)		40			(174	)		114			33			197			753
Other operations		(2,440	)		(1,684	)		(1,566	)		(954	)		(681	)		(925	)		(1,000	)		(2,622	)
Net income	$	3,225		$	2,306		$	4,162		$	5,208		$	4,521		$	5,516		$	6,841		$	4,500
OFFICES AND EMPLOYEES
FTE Employees		442			458			463			467			489			484			457			443
ATM’s		41			41			40			40			43			43			38			39
Branches		18			18			17			17			17			17			15			15
Loan production offices		3			3			3			3			3			3			3			3
Assets per employee	$	6,515		$	6,184		$	5,989		$	5,719		$	5,244		$	4,932		$	4,805		$	4,953

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

**

In first quarter 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 the “Other states banking” segment are portfolio loans attributable to states other than Oklahoma, Texas, or Kansas, and primarily consist of healthcare and commercial real estate credits. These out of state loans are administered by offices in Oklahoma, Texas, or Kansas.

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

	2008												2007
	Dec. 31			Sep. 30			Jun. 30			Mar. 31			Dec. 31			Sep. 30			Jun. 30			Mar. 31
LOAN COMPOSITION
Real estate mortgage:
Commercial	$	1,118,828		$	1,077,601		$	991,679		$	846,757		$	750,047		$	608,409		$	564,813		$	582,440
One-to-four family residential		113,665			116,270			118,056			110,938			111,085			112,407			90,916			83,312
Real estate construction
Commercial		579,795			554,496			583,784			654,039			643,656			584,338			550,997			453,199
One-to-four family residential		79,565			79,843			82,972			90,051			81,273			74,876			66,996			64,000
Commercial		564,670			574,087			566,830			544,183			521,501			517,658			465,588			457,838
Installment and consumer:
Guaranteed student loans		54,057			67,610			57,413			63,706			61,555			73,810			68,117			101,905
Other		40,867			42,432			44,051			44,296			42,715			40,142			35,112			32,526
Total loans, including held for sale		2,551,447			2,512,339			2,444,785			2,353,970			2,211,832			2,011,640			1,842,539			1,775,220
Less allowance for loan losses		(39,773	)		(35,807	)		(31,341	)		(29,950	)		(29,584	)		(28,314	)		(28,054	)		(27,728	)
Total loans, net	$	2,511,674		$	2,476,532		$	2,413,444		$	2,324,020		$	2,182,248		$	1,983,326		$	1,814,485		$	1,747,492
By statement of condition category:
Loans held for sale:
Student loans	$	54,057		$	67,610		$	57,413		$	63,706		$	61,555		$	73,810		$	68,117		$	101,905
One-to-four family residential		1,790			3,500			4,283			1,417			3,442			3,293			3,382			4,113
Other		1,094			1,138			1,196			1,241			1,278			1,314			1,512			2,007
Total loans held for sale		56,941			72,248			62,892			66,364			66,275			78,417			73,011			108,025
Portfolio loans		2,494,506			2,440,091			2,381,893			2,287,606			2,145,557			1,933,223			1,769,528			1,667,195
Total loans before allowance	$	2,551,447		$	2,512,339		$	2,444,785		$	2,353,970		$	2,211,832		$	2,011,640		$	1,842,539		$	1,775,220
DEPOSIT COMPOSITION
Non-interest bearing demand	$	261,940		$	280,453		$	299,699		$	248,315		$	257,067		$	261,634		$	248,285		$	251,777
Interest-bearing demand		76,027			70,471			81,415			71,450			63,323			63,145			63,758			63,741
Money market accounts		454,250			554,357			548,099			553,850			541,950			505,192			487,096			394,668
Savings accounts		14,135			14,452			13,809			13,808			13,032			14,830			11,017			11,196
Time deposits of $100,000 or more		802,244			731,773			740,174			690,421			690,985			580,850			571,584			646,668
Other time deposits		571,526			547,213			527,805			517,083			492,222			487,068			442,066			435,131
Total deposits	$	2,180,122		$	2,198,719		$	2,211,001		$	2,094,927		$	2,058,579		$	1,912,719		$	1,823,806		$	1,803,181
NONPERFORMING ASSETS
Nonaccrual loans	$	59,310		$	61,557		$	30,861		$	26,134		$	19,534		$	26,291		$	22,633		$	26,978
90 days past due and accruing		4,673			2,299			1,242			2,807			10,037			2,803			1,625			2,462
Total nonperforming loans		63,983			63,856			32,103			28,941			29,571			29,094			24,258			29,440
Other real estate owned		6,092			2,685			2,523			3,328			2,679			1,654			1,508			1,869
Total nonperforming assets	$	70,075		$	66,541		$	34,626		$	32,269		$	32,250		$	30,748		$	25,766		$	31,309
Potential nonperforming loans	$	131,516		$	86,070		$	71,070		$	69,588		$	61,633		$	70,389		$	69,595		$	52,335
ALLOWANCE ACTIVITY
Balance, beginning of period	$	35,807		$	31,341		$	29,950		$	29,584		$	28,314		$	28,054		$	27,728		$	27,293
Charge offs		3,254			2,752			1,892			2,044			1,290			2,105			1,875			1,728
Recoveries		522			363			93			174			96			216			94			302
Net charge offs		2,732			2,389			1,799			1,870			1,194			1,889			1,781			1,426
Provision for loan losses		6,698			6,855			3,190			2,236			2,464			2,149			2,107			1,861
Balance, end of period	$	39,773		$	35,807		$	31,341		$	29,950		$	29,584		$	28,314		$	28,054		$	27,728
REGULATORY CAPITAL DATA
Tier I capital	$	369,049		$	293,141		$	261,354		$	258,272		$	251,980		$	248,961		$	251,460		$	244,862
Total capital		404,695			332,012			296,166			291,638			284,730			279,031			278,799			269,513
Total risk adjusted assets		2,837,473			2,793,843			2,780,538			2,727,853			2,595,090			2,374,152			2,123,862			1,967,001
COMMON STOCK
Issued		14,658,042			14,658,042			14,658,042			14,658,042			14,658,042			14,658,042			14,658,042			14,658,042
Less treasury shares		(80,383	)		(129,586	)		(131,566	)		(133,605	)		(300,833	)		(321,991	)		(329,570	)		(385,632	)
Outstanding shares		14,577,659			14,528,456			14,526,476			14,524,437			14,357,209			14,336,051			14,328,472			14,272,410
INTANGIBLE ASSET DATA
Goodwill	$	7,071		$	7,071		$	7,071		$	7,071		$	7,064		$	6,742		$	1,213		$	1,213
Core deposit intangible		2,596			2,693			2,792			2,893			3,053			2,879			1,466			1,531
Mortgage servicing rights		1,159			1,417			1,354			1,299			1,513			1,440			1,428			1,413
Nonmortgage servicing rights		9			10			11			13			14			16			32			37
Total intangible assets	$	10,835		$	11,191		$	11,228		$	11,276		$	11,644		$	11,077		$	4,139		$	4,194
Intangible amortization expense	$	214		$	212		$	215		$	257		$	159		$	161		$	165		$	162

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