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Southwest Bancorp Reports First Quarter 2008 Earnings per Share of $0.36
Date:4/17/2008

STILLWATER, Okla., April 17 /PRNewswire-FirstCall/ -- Southwest Bancorp, Inc. (Nasdaq: OKSB), ("Southwest"), today reported net income of $5.2 million, or $0.36 per diluted share for the first quarter 2008, up $0.05 or 16% from the first and fourth quarter of 2007. At March 31, 2008, total assets were $2.7 billion.

(Logo: http://www.newscom.com/cgi-bin/prnh/20011127/SOUTHWESTLOGO)

Rick Green, President and Chief Executive Officer, stated, "Our strategic vision includes growth from existing and additional offices in Oklahoma and in carefully selected markets in Texas and other states with emphasis on healthcare and health professionals, businesses and their managers and owners, commercial and commercial real estate borrowers, careful expansion of our community banking operations, and increases in stable funding sources at reasonable cost.

"Our strategy produced significant loan growth in the first quarter. Our portfolio loans grew $142.0 million, up 7%, from year-end 2007, led by increases in healthcare and other commercial real estate lending in Oklahoma and Texas. A portion of the net growth was the result of a first quarter reduction in the customary levels of early payoffs of commercial real estate and commercial loans, which we believe reflected a decrease in competition for refinancings from conduits and other non-depository lenders. We anticipate seeing movement toward more traditional unscheduled payoff levels, and currently expect somewhat slower net loan growth in the remainder of 2008.

"The positive earnings effect of our loan growth continued to be offset by the significant margin squeeze that began last year. Quar
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SOURCE Southwest Bancorp, Inc.
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