Exhibit 99

		For additional information:
		Rick Green President & CEO Laura Robertson EVP & CFO
For Immediate Release		(405) 372-2230

Southwest Bancorp Inc. Reports Second Quarter 2011 Results

     July 25, 2011, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market — OKSB, OKSBP), (“Southwest”), today reported a net loss available to common shareholders of $4.0 million, or $0.21 per diluted share for the second quarter of 2011, compared to net income available to common shareholders of $3.4 million, or $0.19 per diluted share for the second quarter of 2010, and $1.4 million, or $0.07 per diluted share for the first quarter of 2011. The net loss available to common shareholders for the six months ended June 30, 2011 was $2.6 million, or $0.13 per diluted share, compared to net income available to common shareholders for the six months ended June 30, 2010 of $6.7 million, or $0.41 per diluted share.

     Second Quarter 2011 Results:

     Rick Green, Southwest Bancorp’s President and Chief Executive Officer, stated, “This was a challenging quarter for Southwest and Stillwater National Bank. We recorded a net loss year-to-date and for the second quarter of 2011, mainly as a result of new appraisals received on collateral dependent commercial real estate loans from states outside of our home markets of Oklahoma, Texas, and Kansas. Those effects were partially offset by our settlement of certain tax matters, described later in this release, as well as our stable net interest margins and expense control.

     “We continue to focus on the resolution of problem assets. Nonperforming assets increased to $190.1 million and 8.66% of noncovered portfolio loans and other real estate from $176.5 million and 7.74% of noncovered portfolio loans and other real estate at March 31, 2011 and from $144.8 million and 6.11% of noncovered portfolio loans and other real estate at December 31, 2010. Our noncovered nonperforming assets were up from year-end, primarily due to an increase in nonperforming loans. The dollar amount of other real estate was up from year-end as well; however, the composition has changed as our resolution process continues. In the first six months of 2011 we placed $104.9 million on nonaccrual, but returned $8.4 million to accrual status, charged-off $35.5 million, wrote down $1.7 million on other real estate, transferred $13.3 million from nonperforming loans to other real estate, and received $3.5 million in resolutions and payments on nonperforming loans and $10.8 million from sales of other real estate. At quarter-end our potential problem loans were $291.2 million, up $58.0 million, or 25%, from year-end, and $49.0 million, or 20%, from June 30, 2010. We believe that levels of nonperforming loans and potential problem loans are likely to fluctuate up and down as the process continues.

     “Our noncovered loans decreased by $173.2 million, or 7%, from year-end and $307.7 million, or 12%, from June 30, 2010. This decrease allowed us to reduce our commercial real estate mortgage and construction concentration to $1.6 billion, or 75%, of noncovered loans at June 30, 2011. Our healthcare credits at quarter-end totaled $670.6 million, or 31%, of noncovered loans, including $407.3 million of healthcare related commercial real estate mortgage and construction loans. Nonperforming healthcare assets at quarter-end were $20.6 million, or 11%, of total nonperforming assets. Approximately 81% of our nonperforming assets are in the more stable markets of Oklahoma, Texas, and Kansas.

     “At June 30, 2011, the allowance for loan losses was 2.53% of noncovered portfolio loans, compared to 2.80% at year-end 2010 and 2.71% at June 30, 2010.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Second Quarter 2011 Results

     “The economy has not yet recovered, but we continue to be encouraged by the performance of the economies of our principal markets in Oklahoma, Texas, and Kansas and continue to make loans in each of our markets with an emphasis on healthcare lending and carefully controlled real estate collateralized credits.

     “Lending and Credit Reorganization. Earlier this year we made significant organizational changes designed to improve our lending and credit functions. We continue to implement those changes. On July 11, following a thorough executive search process, we announced the Board of Directors’ appointment of John Danielson as Executive Vice President and Chief Banking Officer, and Priscilla Barnes as Executive Vice President and Chief Credit Officer, each reporting to me.

     “As Chief Banking Officer, John is responsible for the lending, deposit, and treasury services of Southwest’s banking subsidiaries, Stillwater National Bank and Bank of Kansas, and for their banking offices in Oklahoma, Texas, and Kansas. John previously served as President of SNB-San Antonio, a division of Stillwater National. He has 25 years of banking industry experience. Before joining Southwest in 2006, John served as a regional banking manager for Compass Bank and Bank of America.

     “As Chief Credit Officer, Priscilla is responsible for credit functions, including lending policy, credit analysis, credit approvals, risk rating accuracy, training, and workouts. She formerly served as interim Chief Credit Officer. Priscilla has over 31 years of banking industry experience and is a former Federal Reserve Bank examiner. She has been with Southwest since 2005.

     “Regulatory Capital. As of June 30, 2011, Southwest exceeded all applicable regulatory capital requirements. Southwest and each of its banking subsidiaries met the criteria for regulatory classification as “well-capitalized”. Southwest’s total regulatory capital was $474.0 million, for a total risk-based capital ratio of 20.20%, and Tier 1 capital was $444.1 million, for a Tier 1 risk-based capital ratio of 18.93%. Southwest’s capital exceeded the minimum to be classified as “well-capitalized” by $239.3 million. Stillwater National Bank, Southwest’s principal banking subsidiary, had total regulatory capital of $393.8 million, for a total risk-based capital ratio of 18.50%, and Tier 1 capital of $351.8 million, for a Tier 1 risk-based capital ratio of 16.53%. Stillwater National Bank exceeded the minimum to be classified as “well-capitalized” by $127.7 million. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators. Stillwater National Bank’s leverage and total risk-based capital ratios also substantially exceeded the individual minimum ratios agreed to with the Comptroller of the Currency of 8.50% and 12.50%.

     “Increased Core Funding Percentage. At June 30, 2011, total core funding, which includes all non-brokered time deposits and sweep repurchase agreements, comprised 90% of total funding, compared to 87% at March 31, 2011 and 86% at December 31, 2010. Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 10% of total funding compared to 13% at March 31, 2011 and 14% at December 31, 2010. Please see Table 6 for details on these non-GAAP financial measures.

     “Future Interest and Dividend Deferrals. In July, we determined to defer future payments of interest on our debentures and dividends on related trust preferred securities and to defer payments of dividends on our Series A Preferred Securities issued under the U.S. Treasury Department’s Capital Purchase Program. The terms of our debentures and trust preferred securities allow us to increase or decrease the deferral period without default or penalty. However, we plan to resume payments of dividends and debenture interest as soon as we achieve sufficient improvement in earnings and asset quality levels. We have taken important steps to help us achieve those goals. For further information, please see “Subsequent Event-Deferral of Interest and Dividend Payments” later in this release.

     Please review the following discussion and the attached financial tables for important additional information regarding our financial condition and performance.”

Financial Overview

     Condition: Total assets were $2.7 billion and total loans were $2.2 billion at June 30, 2011, a decrease of 6% and 7%, respectively, from December 31, 2010.

     At June 30, 2011 the allowance for loan losses was $54.6 million, a decrease of 19% and 16% from June 30, 2010 and December 31, 2010, respectively, and represented 2.53% of noncovered portfolio loans versus 2.71% and 2.80% at June 30, 2010 and December 31, 2010, respectively. 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. Provisions for loan losses are recorded in the amount necessary to maintain the allowance at the level management deems appropriate.

     Excluding assets subject to loss sharing agreements with the FDIC (“covered assets”), nonperforming assets, consisting of nonaccrual loans, loans past due by 90 days or more and still accruing, and other real estate, were $190.1 million and 8.66% of noncovered portfolio loans and other real estate as of June 30, 2011, up $45.3 million

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Second Quarter 2011 Results

from December 31, 2010. A breakdown of noncovered portfolio loans and noncovered nonperforming assets at June 30, 2011 by type is shown in the following table:

		Noncovered				Noncovered				Percentage of
		portfolio				nonperforming				total noncovered
(dollars in thousands)		loans				assets				nonperforming assets
Real estate construction		$	384,924			$	73,486				38.65	%
Commercial real estate			1,249,560				60,858				32.01
Commercial			404,081				15,224				8.00
Residential real estate mortgages			83,196				1,457				0.77
Other consumer loans			34,335				153				0.08
Other real estate			—				38,956				20.49
Total		$	2,156,096			$	190,134				100.00	%

     Excluding covered loans, nonaccrual loans were $151.1 million as of June 30, 2011, an increase of $44.6 million, or 42%, from December 31, 2010, and an increase of $39.3 million, or 35%, from June 30, 2010. These loans are carried at their estimated collectible amounts and no longer accrue interest. Noncovered loans 90 days or more past due were less than $0.1 million as of June 30, 2011. These loans are deemed to have sufficient collateral and are in the process of collection.

     Impaired loans, which include nonaccrual and restructured loans, are evaluated on an individual basis using the discounted present value of expected cash flows, the fair value of collateral, or the market value of the loan, and a specific allowance is recorded to reflect the appropriate net realizable value. Collateral dependent loans are evaluated for impairment based upon the fair value of the collateral. Charge-offs against the allowance for impaired loans are made when and to the extent amounts are deemed uncollectible. Independent appraisals on real estate collateral securing loans are obtained at origination. New appraisals are obtained periodically and following discovery of factors that may significantly affect the value of the collateral. Appraisals typically are received within 30 days of request. Results of appraisals on nonperforming and potential problem loans are reviewed promptly upon receipt and considered in the determination of the allowance for loan losses. Southwest is not aware of any significant time lapses in the process that have resulted, or would result in, a significant delay in determination of a credit weakness, the identification of a loan as nonperforming, or the measure of an impairment.

     Performing loans that have been restructured to provide a reduction or deferral of interest or principal due to a weakening in the financial position of the borrower were $3.2 million and $2.2 million at June 30, 2011 and December 31, 2010, respectively.

     Excluding covered loans, performing loans considered potential problem loans, which are not included in the past due or nonaccrual categories but for which known information about possible credit problems cause management to be uncertain as to the continued ability of the borrowers to comply with the present loan repayment terms in future periods, amounted to $291.2 million at June 30, 2011, an increase of $58.0 million from December 31, 2010 and $49.0 million from June 30, 2010. Potential problem loans are subject to continuing management attention and are considered by management in determining the level of the allowance for loan losses.

     Year-to-date Results:

     Summary: The net loss available to common shareholders was $2.6 million as of June 30, 2011, compared to net income available to common shareholders of $6.7 million as of June 30, 2010. The $9.3 million decrease in our net income available to common shareholders from 2010 is the result of a $12.9 million increase in the provision for loan losses, a $3.5 million decrease in net interest income, and a $1.3 million decrease in noninterest income, offset in part by a $7.6 million decrease in income tax expense and a $0.8 million decrease in noninterest expense.

     On June 28, 2011, Southwest entered into a settlement agreement with the Oklahoma State Tax Commission (the “Commission”) with respect to certain claims by the Commission. Southwest had previously recorded reserves against these claims. As a result of the settlement agreement, Southwest paid the sum of $4.8 million to the Commission and recorded a gain of $2.6 million, net of tax effect, upon reversal of excess reserves. The year-to-date calculated effective tax rate is 79.93%; however, when the effect of the reversal of the excess tax reserves in the second quarter is excluded, the effective tax rate year-to-date is 43.60%.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Second Quarter 2011 Results

     Net Interest Income: Net interest income totaled $50.4 million for the first six months of 2011, compared to $53.9 million for the first six months of 2010, a decrease of $3.5 million, or 6%. Year-to-date net interest margin was 3.78%, compared to 3.62% in 2010. Included in 2011 year-to-date net interest income was a net reduction of $0.1 million resulting from interest reversals on nonaccrual loans offset by the year-to-date adjustments of the discount accretion on loans and the loss share receivable. Included in 2010 year-to-date net interest income was $0.8 million of net recoveries from the resolution of nonperforming loans, additional discount accretion on loans and loss share receivable, offset in part by interest reversals on nonaccrual loans. The net effects of these adjustments on net interest margin were a 1 basis point decrease and a 5 basis point increase, respectively.

     Provision for Loan Losses and Net Charge Offs: The provision for loan losses totaled $29.2 million for the first six months of 2011, compared to $16.3 million for the first six months of 2010. Net charge-offs totaled $39.8 million, or 3.49% (annualized) of average portfolio loans year-to-date as of June 30, 2011, compared to $11.7 million, or 0.91% (annualized) of average portfolio loans for the same period in the prior year.

     A significant reason for the increase in the year-to-date provision was an unanticipated decline in collateral value of collateral dependent commercial real estate loans in markets other than our primary markets of Oklahoma, Texas, and Kansas. As of June 30, 2011, eleven relationships accounted for $32.5 million in charge-offs, of which $20.6 million were on four out of market relationships. At June 30, 2011, total out of market commercial real estate and construction loans was $158.4 million, of which $75.9 million were internally rated substandard or doubtful.

     Noninterest Income: Noninterest income totaled $6.9 million for the first six months of 2011, compared to $8.1 million for the first six months of 2010. The decrease in noninterest income was primarily the result of a $0.8 million decline in gain on sale of loans, mainly from declined student loan sales, and a $0.3 million decline in other noninterest income.

     Noninterest Expense: Noninterest expense totaled $30.6 million for the first six months of 2011, compared to $31.4 million for the first six months of 2010. The decrease consists of a $2.4 million decrease in other general and administrative expense, primarily from the settlement of Oklahoma state tax claims for less than the amount accrued, a $0.9 million decrease in FDIC and other insurance expense, and a $0.7 million decrease in personnel expense, primarily as a result of a decrease in the profit sharing contribution, offset in part by a $2.3 million increase in other real estate expense and a $1.1 million increase in provision for unfunded loan commitments.

     Second Quarter Results:

     Summary: For the second quarter of 2011, Southwest incurred a net loss available to common shareholders of $4.0 million, compared to net income available to common shareholders of $3.4 million in the second quarter of 2010 and $1.4 million in the first quarter of 2011. The decrease from the second quarter of 2010 was the result of a $12.4 million increase in the provision for loan losses, a $2.1 million decrease in net interest income, and a $0.4 million decrease in noninterest income, offset in part by a $6.3 million decrease in income taxes and a $1.2 million decrease in noninterest expense. The decrease from the first quarter of 2011 was the result of an $11.1 million increase in the provision for loan losses and a $0.4 million decrease in net interest income, offset in part by a $5.1 million decrease in income taxes, a $0.6 million decrease in noninterest expense, and a $0.4 million increase in noninterest income.

     For the second quarter of 2011, the calculated effective tax rate is 54.53%; however, when the reversal of the excess tax reserves is excluded, the effective tax rate for the second quarter is 41.46%.

     Net Interest Income: Net interest income totaled $25.0 million for the second quarter of 2011, compared to $27.1 million for the second quarter of 2010, a decrease of $2.1 million, or 8%, and $25.4 million for the first quarter of 2011, a decrease of $0.4 million, or 2%. Net interest margin was 3.79% for the second quarter of 2011, compared to 3.65% for the second quarter of 2010 and 3.78% for the first quarter of 2011. Included in the second quarter of 2011 net interest margin was a net reduction of $0.2 million resulting from interest reversal on nonaccrual loans offset by the quarterly adjustment of the discount accretion on loans and the loss share receivable. Included in the second quarter 2010 net interest margin was a net recovery of $0.5 million from the quarterly adjustment of the discount accretion on loans and loss share receivable. Included in the first quarter of 2011 net interest margin was a net recovery of $0.1 million from the quarterly adjustment of the discount accretion on loans and the loss share receivable offset by interest reversals on nonaccrual loans. The net effects of these adjustments on net interest

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Second Quarter 2011 Results

margin were a 3 basis point decrease, a 6 basis point increase, and a 1 basis point increase for each quarter, respectively.

     Provision for Loan Losses and Net Charge-Offs: The provision for loan losses totaled $20.1 million for the second quarter of 2011, compared to $7.8 million for the second quarter of 2010 and $9.1 million for the first quarter of 2011. Net charge-offs totaled $26.9 million, or 4.76% (annualized) of average portfolio loans for the second quarter of 2011, compared to $5.9 million, or 0.92% (annualized) of average portfolio loans for the second quarter of 2010 and $13.0 million, or 2.25% (annualized) of average portfolio loans for the first quarter of 2011.

     A significant reason for the increased provision for the second quarter was an unanticipated decline in collateral value of collateral dependent commercial real estate loans in markets other than our primary markets of Oklahoma, Texas, and Kansas. For the second quarter of 2011, eight relationships accounted for $23.0 million in charge-offs, of which $13.6 million were on three out of market relationships.

     Noninterest Income: Noninterest income totaled $3.6 million for the second quarter of 2011, compared to $4.0 million for the second quarter of 2010 and $3.2 million for the first quarter of 2011. The decrease in noninterest income from the second quarter of 2010 was primarily the result of a $0.4 million decrease in other noninterest income. The increase from the first quarter of 2011 was primarily the result of a $0.4 million increase in service charges and fees.

     Noninterest Expense: Noninterest expense totaled $15.0 million for the second quarter of 2011, compared to $16.1 million for the second quarter of 2010 and $15.6 million for the first quarter of 2011. The decrease from second quarter 2010 consisted of a $2.4 million decrease in other general and administrative expense, primarily from the settlement of Oklahoma state tax claims for less than the amount accrued, a $0.7 million decrease in personnel expense, primarily as a result of a decrease in the profit sharing contribution, and a $0.6 million decrease in FDIC and other insurance expense, offset in part by a $2.0 million increase in other real estate expense and a $0.6 million increase in provision for unfunded loan commitments. The decrease from first quarter 2011 consisted of a $2.0 million decrease in other general and administrative expense, a $0.5 million decrease in personnel expense, and a $0.3 million decrease in FDIC and other insurance expense, offset in part by a $2.2 million increase in other real estate expense.

Southwest Bancorp and Subsidiaries

     Southwest is the bank holding company for Stillwater National Bank and Trust Company (“Stillwater National”) and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker^®. We were organized in 1981 as the holding company for Stillwater National, which was chartered in 1894. At June 30, 2011 we had total assets of $2.7 billion, deposits of $2.1 billion, and shareholders’ equity of $376.9 million.

     Our area of expertise focuses on the special financial needs of healthcare and health professionals, businesses and their managers and owners, and commercial and commercial real estate borrowers. We established a strategic focus on healthcare lending in 1974. We provide credit and other 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 June 30, 2011, approximately $670.6 million, or 31%, of our noncovered loans were loans to individuals and businesses in the healthcare industry.

     We also focus on commercial real estate mortgage and construction credits. We do not focus on one-to-four family residential development loans or “spec” residential property credits. Additionally, subprime residential lending has never been a part of our business strategy, and our exposure to subprime mortgage loans and subprime lenders is minimal. One-to-four family mortgages account for less than 5% of total noncovered loans. As of June 30, 2011 approximately $1.6 billion, or 75%, of our noncovered loans were commercial real estate mortgage and construction loans, including $407.3 million of loans to individuals and businesses in the healthcare industry.

     We operate six offices in Texas, eleven offices in Oklahoma, and eight offices in Kansas. At June 30, 2011 our Texas segment accounted for $911.1 million, or 41% of total portfolio loans, followed by $834.2 million, or 38%, from our Oklahoma segment, $260.4 million, or 12%, from our Kansas segment, and $196.5 million, or 9%, from our other states segment.

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

Subsequent Event-Deferral of Interest and Dividend Payments

     In July 2011, Southwest Bancorp, Inc. (“Southwest”) determined to suspend payments of interest on its three issues of outstanding debentures effective August 1, 2010, and dividends on the related trust preferred securities.

     The terms of the debentures allow Southwest to defer payments of interest for up to 20 consecutive quarterly periods without default or penalty. These terms also allow Southwest to resume payments at the end of any deferral period, or to extend the deferral up to the maximum 20 quarters in total. No deferral can extend past the maturity date of the debenture.

     We plan to resume payments of dividends and debenture interest as soon as we achieve sufficient improvement in earnings and asset quality levels. We are taking important steps to help us achieve those goals. These include:

• Capital Levels. Capital levels for Southwest and each of its bank subsidiaries well exceed all applicable capital standards. We increased and maintained our capital ratios by (a) sale of capital securities, including public securities offerings in mid-2008 and 2010, and the sale of preferred securities to the Treasury Department in late 2008, (b) net quarterly earnings, and (c) intentional reduction of our loan portfolio.

• Earnings. We had a net loss this quarter and year-to-date, but this follows a long-record of successive quarterly earnings. Our interest margins and net interest income are solid, and we remain one of the most efficient banking organizations in terms of operating expense control.

• Asset Quality. Our problem assets and potential problem assets are too high. The keys to improvement in our net income are improvement in asset quality and reduction in loan loss provision expense. To that end this year we have (a) substantially reorganized our lending and credit functions to increase their independence and improve oversight; (b) installed a new Chief Credit Officer in the second quarter reporting directly to the CEO with authority over the entire credit and work-out functions; (c) began staffing up credit and work-out areas with experienced bankers; (d) increased our emphasis on timely and accurate loan grading and consistency among our third party loan review firm, our internal credit function, and federal regulators’ grading guidelines; and (e) begun a special review of larger problem credits.

     Interest will continue to accrue on the debentures, and dividends will continue to accrue on the related trust preferred securities while we work toward resuming payments.

     Southwest’s trust preferred securities were issued by the following subsidiary trusts: Southwest Capital Trust II, which trades on the NASDAQ Global Select Market under the symbol “OKSBP”; OKSB Statutory Trust I; and SBI Capital Trust II. At June 30, 2011, $82.0 million of debentures were outstanding.

     In addition, Southwest has determined to defer payment of dividends on its Series A Preferred Securities issued under the U.S. Treasury Departments Capital Purchase Program, effective for the next dividend payment, due August 15, 2011. Dividends on the Preferred Securities may not be paid while interest on Southwest’s debentures has been deferred, but will continue to accrue. At June 30, 2011, $70.00 million of Preferred Securities were outstanding.

     The deferrals of interest and dividends are intended to preserve liquidity at the holding company level, which may be used to inject funds in its bank subsidiaries or for other corporate purposes. Because the interest on the debentures, the dividends on the related trust preferred securities, and the dividends on the Preferred Securities will continue to accrue, these deferrals are not expected to have any significant effect on the net income or net income available to common shareholders of Southwest. During the year ended December 31, 2010, total interest expense on the debentures, which is deductible for income tax purposes, totaled $5.1 million, and dividends on the Preferred Securities, which are not deductible for income tax purposes, totaled $3.5 million.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Second Quarter 2011 Results

Forward-Looking Statements

     This earnings release includes forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include: statements of Southwest’s goals, intentions, and expectations; estimates of risks and of future costs and benefits; expectations regarding future financial performance of Southwest and its operating segments; assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs; liquidity, contractual obligations, off-balance sheet risk, and interest rate risk; estimates of value of acquired assets, deposits, and other liabilities; 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 and regulations and accounting principles; 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 our future results.

     Southwest is required under generally accepted accounting principles to evaluate subsequent events and their impact, if any, on its financial statements as of June 30, 2011 through the date its financial statements are filed with the Securities and Exchange Commission. The June 30, 2011 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.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Second Quarter 2011 Results

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

SOUTHWEST BANCORP, INC.		Table 1
UNAUDITED FINANCIAL HIGHLIGHTS

		Second Quarter												First Quarter
(Dollars in thousands, except per share)										%								%
QUARTERLY HIGHLIGHTS		2011				2010				Change				2011				Change
Operations
Net interest income		$	24,985			$	27,108				(8	)%		$	25,421				(2	)%
Provision for loan losses			20,140				7,776				159				9,050				123
Noninterest income			3,604				3,962				(9	)			3,249				11
Noninterest expense			14,980				16,146				(7	)			15,625				(4	)
Income (loss) before taxes			(6,531	)			7,148				(191	)			3,995				(263	)
Taxes on income			(3,561	)			2,737				(230	)			1,534				(332	)
Net income (loss)			(2,970	)			4,411				(167	)			2,461				(221	)
Net income (loss) available to common shareholders			(4,027	)			3,366				(220	)			1,408				(386	)
Diluted earnings per share			(0.21	)			0.19				(211	)			0.07				(400	)
Balance Sheet
Total assets			2,660,495				3,010,835				(12	)			2,779,028				(4	)
Loans held for sale			37,204				25,615				45				37,348				(0	)
Noncovered portfolio loans			2,156,096				2,475,348				(13	)			2,241,080				(4	)
Covered portfolio loans			46,153				68,006				(32	)			49,117				(6	)
Total deposits			2,094,236				2,444,939				(14	)			2,218,571				(6	)
Total shareholders’ equity			376,930				375,319				—				379,350				(1	)
Book value per common share			15.89				15.88				—				16.02				(1	)
Key Ratios
Net interest margin			3.79	%			3.65	%							3.78	%
Efficiency ratio			52.40				51.97								54.50
Total capital to risk-weighted assets			20.20				17.78								19.77
Nonperforming loans to portfolio loans — noncovered			7.01				4.53								6.04
Shareholders’ equity to total assets			14.17				12.47								13.65
Tangible common equity to tangible assets*			11.38				10.02								10.99
Return on average assets (annualized)			(0.43	)			0.58								0.35
Return on average common equity (annualized)			(5.11	)			4.64								1.81
Return on average tangible common equity (annualized)**			(5.22	)			4.75								1.85

		Six Months
										%
YEAR-TO-DATE HIGHLIGHTS		2011				2010				Change
Operations
Net interest income		$	50,406			$	53,909				(6	)%
Provision for loan losses			29,190				16,307				79
Noninterest income			6,853				8,140				(16	)
Noninterest expense			30,605				31,404				(3	)
Income (loss) before taxes			(2,536	)			14,338				(118	)
Taxes on income			(2,027	)			5,555				(136	)
Net income (loss)			(509	)			8,783				(106	)
Net income (loss) available to common shareholders			(2,619	)			6,695				(139	)
Diluted earnings per share			(0.13	)			0.41				(132	)
Balance Sheet
Total assets			2,660,495				3,010,835				(12	)
Loans held for sale			37,204				25,615				45
Noncovered portfolio loans			2,156,096				2,475,348				(13	)
Covered portfolio loans			46,153				68,006				(32	)
Total deposits			2,094,236				2,444,939				(14	)
Total shareholders’ equity			376,930				375,319				—
Book value per common share			15.89				15.88				—
Key Ratios
Net interest margin			3.78	%			3.62	%
Efficiency ratio (GAAP-based)			53.45				50.61
Total capital to risk-weighted assets			20.20				17.78
Nonperforming loans to portfolio loans — noncovered			7.01				4.53
Shareholders’ equity to total assets			14.17				12.47
Tangible common equity to tangible assets*			11.38				10.02
Return on average assets			(0.04	)			0.58
Return on average common equity			(1.67	)			5.00
Return on average tangible common equity**			(1.71	)			5.13

SOUTHWEST BANCORP, INC.		Table 2
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

		June 30,				December 31,				June 30,
(Dollars in thousands, except per share)		2011				2010				2010
Assets
Cash and due from banks		$	26,368			$	26,478			$	23,442
Interest-bearing deposits			41,733				41,018				101,848
Cash and cash equivalents			68,101				67,496				125,290
Securities held to maturity (fair values of $15,461, $14,029, $6,731, respectively)			15,419				14,304				6,670
Securities available for sale (amortized cost of $248,004, $246,649, $232,097, respectively)			252,734				248,221				240,438
Loans held for sale			37,204				35,194				25,615
Noncovered loans receivable			2,156,096				2,331,293				2,475,348
Less: Allowance for loan losses			(54,575	)			(65,229	)			(67,055	)
Net noncovered loans receivable			2,101,521				2,266,064				2,408,293
Covered loans receivable (includes loss share: $12,101, $14,370, and $18,663, respectively)			46,153				53,628				68,006
Net loans receivable			2,147,674				2,319,692				2,476,299
Accrued interest receivable			7,973				8,590				9,589
Income tax receivable			11,393				—				—
Premises and equipment, net			23,158				23,772				25,560
Noncovered other real estate			38,956				37,722				27,634
Covered other real estate			3,806				4,187				4,352
Goodwill			6,811				6,811				6,811
Other intangible assets, net			5,069				5,371				5,424
Other assets			42,197				49,181				57,153
Total assets		$	2,660,495			$	2,820,541			$	3,010,835
Liabilities
Deposits:
Noninterest-bearing demand		$	389,027			$	377,182			$	326,721
Interest-bearing demand			124,346				92,584				102,218
Money market accounts			465,269				495,253				510,549
Savings accounts			29,586				26,665				25,321
Time deposits of $100,000 or more			570,116				694,565				861,110
Other time deposits			515,892				566,479				619,020
Total deposits			2,094,236				2,252,728				2,444,939
Accrued interest payable			1,574				1,577				2,567
Income tax payable			—				2,878				4,053
Other liabilities			9,110				8,981				8,958
Other borrowings			96,682				94,602				93,036
Subordinated debentures			81,963				81,963				81,963
Total liabilities			2,283,565				2,442,729				2,635,516
Shareholders’ equity
Serial preferred stock; 2,000,000 shares authorized; 70,000 shares issued and outstanding			68,084				67,724				67,375
Common stock — $1 par value; 40,000,000 shares authorized; 19,439,167, 19,421,900, 19,388,797 shares issued and outstanding, respectively			19,439				19,422				19,389
Additional paid-in capital			99,005				98,894				98,712
Retained earnings			188,174				190,793				184,710
Accumulated other comprehensive income			2,228				979				5,133
Total shareholders’ equity			376,930				377,812				375,319
Total liabilities and shareholders’ equity		$	2,660,495			$	2,820,541			$	3,010,835

SOUTHWEST BANCORP, INC.		Table 3
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

		For the three months								For the six months
		ended June 30,								ended June 30,
(Dollars in thousands, except per share)		2011				2010				2011				2010
Interest income
Loans		$	29,478			$	33,891			$	60,017			$	68,263
Investment securities			1,864				2,175				3,610				4,345
Other interest-earning assets			130				213				270				430
Total interest income			31,472				36,279				63,897				73,038
Interest expense
Interest-bearing deposits			4,531				7,371				9,664				15,545
Other borrowings			494				524				991				1,041
Subordinated debentures			1,462				1,276				2,836				2,543
Total interest expense			6,487				9,171				13,491				19,129
Net interest income			24,985				27,108				50,406				53,909
Provision for loan losses			20,140				7,776				29,190				16,307
Net interest income after provision for loan losses			4,845				19,332				21,216				37,602
Noninterest income
Service charges and fees			3,231				3,170				6,109				6,266
Gain on sales of loans			401				416				595				1,401
Gain on investment securities			—				34				—				41
Other noninterest income (loss)			(28	)			342				149				432
Total noninterest income			3,604				3,962				6,853				8,140
Noninterest expense
Salaries and employee benefits			6,974				7,637				14,489				15,217
Occupancy			2,703				2,836				5,507				5,619
FDIC and other insurance			937				1,521				2,180				3,108
Other real estate, net			2,602				629				3,038				735
General and administrative			1,764				3,523				5,391				6,725
Total noninterest expense			14,980				16,146				30,605				31,404
Income (loss) before taxes			(6,531	)			7,148				(2,536	)			14,338
Taxes on income			(3,561	)			2,737				(2,027	)			5,555
Net income (loss)		$	(2,970	)		$	4,411			$	(509	)		$	8,783
Net income (loss) available to common shareholders		$	(4,027	)		$	3,366			$	(2,619	)		$	6,695
Basic earnings per common share		$	(0.21	)		$	0.19			$	(0.13	)		$	0.41
Diluted earnings per common share			(0.21	)			0.19				(0.13	)			0.41
Common dividends declared per share			—				—				—				—

SOUTHWEST BANCORP, INC.		Table 4
UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES — QUARTERLY

		For the three months ended June 30,
		2011												2010
		Average								Average				Average								Average
(Dollars in thousands)		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
Assets
Noncovered loans		$	2,250,678			$	28,551				5.14	%		$	2,534,565			$	32,610				5.22	%
Covered loans			47,427				927				7.93				72,121				1,281				7.20
Investment securities			266,344				1,864				2.81				239,712				2,175				3.64
Other interest-earning assets			82,898				130				0.63				129,188				213				0.66
Total interest-earning assets			2,647,347				31,472				4.77				2,975,586				36,279				4.89
Other assets			99,803												67,454
Total assets		$	2,747,150											$	3,043,040
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits		$	112,942			$	103				0.37	%		$	107,693			$	140				0.52	%
Money market accounts			490,559				582				0.48				505,863				1,037				0.82
Savings accounts			29,154				10				0.14				25,615				16				0.25
Time deposits			1,165,606				3,836				1.32				1,527,074				6,178				1.62
Total interest-bearing deposits			1,798,261				4,531				1.01				2,166,245				7,371				1.36
Other borrowings			87,991				494				2.25				97,909				524				2.15
Subordinated debentures			81,963				1,462				7.13				81,963				1,276				6.23
Total interest-bearing liabilities			1,968,215				6,487				1.32				2,346,117				9,171				1.57
Noninterest-bearing demand deposits			369,700												321,651
Other liabilities			25,066												16,921
Shareholders’ equity			384,169												358,351
Total liabilities and shareholders’ equity		$	2,747,150											$	3,043,040
Net interest income and spread						$	24,985				3.45	%						$	27,108				3.32	%
Net interest margin (1)											3.79	%											3.65	%
Average interest-earning assets to average interest-bearing liabilities			134.50	%											126.83	%

SOUTHWEST BANCORP, INC.		Table 5
UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES — YEAR-TO-DATE

		For the six months ended June 30,
		2011												2010
		Average								Average				Average								Average
(Dollars in thousands)		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
Assets
Noncovered loans		$	2,288,570			$	58,206				5.16	%		$	2,560,937			$	65,591				5.19	%
Covered loans			49,449				1,811				7.43				77,055				2,672				7.03
Investment securities			261,391				3,610				2.79				240,489				4,345				3.64
Other interest-earning assets			87,770				270				0.62				122,319				430				0.71
Total interest-earning assets			2,687,180				63,897				4.80				3,000,800				73,038				4.91
Other assets			95,825												73,314
Total assets		$	2,783,005											$	3,074,114
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits		$	112,693			$	227				0.41	%		$	107,602			$	272				0.51	%
Money market accounts			490,931				1,259				0.52				505,178				2,050				0.82
Savings accounts			28,451				26				0.18				25,622				32				0.25
Time deposits			1,206,650				8,152				1.36				1,588,142				13,191				1.67
Total interest-bearing deposits			1,838,725				9,664				1.06				2,226,544				15,545				1.41
Other borrowings			89,088				991				2.24				97,604				1,041				2.15
Subordinated debentures			81,963				2,836				6.92				81,963				2,543				6.21
Total interest-bearing liabilities			2,009,776				13,491				1.35				2,406,111				19,129				1.60
Noninterest-bearing demand deposits			367,444												312,717
Other liabilities			22,445												17,971
Shareholders’ equity			383,340												337,315
Total liabilities and shareholders’ equity		$	2,783,005											$	3,074,114
Net interest income and spread						$	50,406				3.45	%						$	53,909				3.31	%
Net interest margin (1)											3.78	%											3.62	%
Average interest-earning assets to average interest-bearing liabilities			133.71	%											124.72	%

SOUTHWEST BANCORP, INC. UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA		Table 6

		2011								2010
(Dollars in thousands, except per share)		Jun. 30				Mar. 31				Dec. 31				Sep. 30				Jun. 30				Mar. 31
OPERATIONS
Interest income:
Loans		$	29,478			$	30,539			$	32,831			$	32,824			$	33,891			$	34,372
Investment securities			1,864				1,746				1,724				2,079				2,175				2,170
Other interest-earning assets			130				140				131				180				213				217
Total interest income			31,472				32,425				34,686				35,083				36,279				36,759
Interest expense:
Interest bearing demand deposits			103				124				85				111				140				132
Money market accounts			582				677				885				976				1,037				1,013
Savings accounts			10				16				17				15				16				16
Time deposits of $100,000 or more			2,077				2,349				2,703				3,128				3,517				4,024
Other time deposits			1,759				1,967				2,230				2,572				2,661				2,989
Total interest-bearing deposits			4,531				5,133				5,920				6,802				7,371				8,174
Other borrowings			494				497				514				524				524				517
Subordinated debentures			1,462				1,374				1,282				1,305				1,276				1,267
Total interest expense			6,487				7,004				7,716				8,631				9,171				9,958
Net interest income			24,985				25,421				26,970				26,452				27,108				26,801
Provision for loan losses			20,140				9,050				7,265				11,988				7,776				8,531
Noninterest income:
Service charges and fees			3,231				2,878				3,144				2,994				3,170				3,096
Gain on sales of loans			401				194				682				653				416				985
Gain on investment securities			—				—				15				2,605				34				7
Other noninterest income (loss)			(28	)			177				248				83				342				90
Total noninterest income			3,604				3,249				4,089				6,335				3,962				4,178
Noninterest expense:
Salaries and employee benefits			6,974				7,515				7,516				7,183				7,637				7,580
Occupancy			2,703				2,804				2,717				2,835				2,836				2,783
FDIC and other insurance			937				1,243				1,333				1,347				1,521				1,587
Other real estate, net			2,602				436				1,255				228				629				106
Provision for unfunded loan commitments			128				(55	)			(332	)			(294	)			(512	)			(465	)
Other general and administrative			1,636				3,682				4,322				4,119				4,035				3,667
Total noninterest expense			14,980				15,625				16,811				15,418				16,146				15,258
Income (loss) before taxes			(6,531	)			3,995				6,983				5,381				7,148				7,190
Taxes on income			(3,561	)			1,534				2,675				1,508				2,737				2,818
Net income (loss)		$	(2,970	)		$	2,461			$	4,308			$	3,873			$	4,411			$	4,372
Net income (loss) available to common shareholders			(4,027	)		$	1,408			$	3,257			$	2,825			$	3,366			$	3,329
PER SHARE DATA
Basic earnings per common share		$	(0.21	)		$	0.07			$	0.17			$	0.15			$	0.19			$	0.23
Diluted earnings per common share			(0.21	)			0.07				0.17				0.15				0.19				0.23
Book value per common share			15.89				16.02				15.97				15.93				15.88				16.79
Tangible book value per share*			15.54				15.67				15.62				15.58				15.53				16.33
COMMON STOCK
Shares issued and outstanding			19,439,167				19,438,290				19,421,900				19,395,675				19,388,797				14,779,711
OTHER FINANCIAL DATA
Investment securities		$	268,153			$	258,436			$	262,525			$	240,844			$	247,108			$	241,693
Loans held for sale			37,204				37,348				35,194				34,868				25,615				25,586
Noncovered portfolio loans			2,156,096				2,241,080				2,331,293				2,412,796				2,475,348				2,516,397
Total noncovered loans			2,193,300				2,278,428				2,366,487				2,447,664				2,500,963				2,541,983
Covered portfolio loans			46,153				49,117				53,628				60,558				68,006				76,909
Total assets			2,660,495				2,779,028				2,820,541				2,905,275				3,010,835				3,074,923
Total deposits			2,094,236				2,218,571				2,252,728				2,345,648				2,444,939				2,554,165
Other borrowings			96,682				85,332				94,602				82,506				93,036				103,620
Subordinated debentures			81,963				81,963				81,963				81,963				81,963				81,963
Total shareholders’ equity			376,930				379,350				377,812				376,576				375,319				315,341
Mortgage servicing portfolio			283,083				281,271				278,146				261,266				249,632				241,224
INTANGIBLE ASSET DATA
Goodwill		$	6,811			$	6,811			$	6,811			$	6,811			$	6,811			$	6,811
Core deposit intangible			3,285				3,420				3,557				3,693				3,830				3,967
Mortgage servicing rights			1,781				1,718				1,810				1,661				1,589				1,603
Nonmortgage servicing rights			3				3				4				4				5				5
Total intangible assets		$	11,880			$	11,952			$	12,182			$	12,169			$	12,235			$	12,386
Intangible amortization expense		$	222			$	361			$	402			$	392			$	350			$	359
Continued

SOUTHWEST BANCORP, INC. UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA		Table 6 Continued

		2011												2010
(Dollars in thousands, except per share)		Jun. 30				Mar. 31				Dec. 31				Sep. 30				Jun. 30				Mar. 31
LOAN COMPOSITION
Noncovered
Real estate mortgage:
Commercial		$	1,262,753			$	1,302,164			$	1,310,464			$	1,271,278			$	1,251,709			$	1,230,009
One-to-four family residential			87,407				87,286				89,800				109,980				106,814				111,185
Real estate construction
Commercial			372,576				403,635				441,265				527,773				589,590				630,472
One-to-four family residential			26,400				26,758				27,429				30,527				35,129				34,996
Commercial			404,229				416,392				452,626				463,132				471,004				487,074
Installment and consumer:
Guaranteed student loans			5,600				5,700				5,843				5,960				7,389				10,199
Other			34,335				36,493				39,060				39,014				39,328				38,048
Total noncovered loans, including held for sale			2,193,300				2,278,428				2,366,487				2,447,664				2,500,963				2,541,983
Less allowance for loan losses			(54,575	)			(61,285	)			(65,229	)			(72,418	)			(67,055	)			(65,168	)
Total noncovered loans, net		$	2,138,725			$	2,217,143			$	2,301,258			$	2,375,246			$	2,433,908			$	2,476,815
Covered
Real estate mortgage:
Commercial		$	26,976			$	28,929			$	30,997			$	33,428			$	36,107			$	37,487
One-to-four family residential			8,113				8,192				9,122				10,071				10,277				10,843
Real estate construction
Commercial			6,001				6,144				6,840				7,464				8,190				11,173
One-to-four family residential			172				281				439				1,823				3,853				5,273
Commercial			4,461				5,021				5,554				6,816				8,487				10,807
Installment and consumer:			430				550				676				956				1,092				1,326
Total covered loans		$	46,153			$	49,117			$	53,628			$	60,558			$	68,006			$	76,909
DEPOSIT COMPOSITION
Non-interest bearing demand		$	389,027			$	369,013			$	377,182			$	329,655			$	326,721			$	317,896
Interest-bearing demand			124,346				112,731				92,584				86,153				102,218				119,757
Money market accounts			465,269				486,770				495,253				518,422				510,549				506,659
Savings accounts			29,586				28,440				26,665				25,556				25,321				25,871
Time deposits of $100,000 or more			570,116				669,817				694,565				795,303				861,110				944,871
Other time deposits			515,892				551,800				566,479				590,559				619,020				639,111
Total deposits**		$	2,094,236			$	2,218,571			$	2,252,728			$	2,345,648			$	2,444,939			$	2,554,165
LOANS BY SEGMENT
Oklahoma banking		$	834,189			$	838,006			$	871,393			$	890,598			$	914,004			$	926,870
Texas banking			911,134				953,123				982,845				1,024,863				1,041,228				1,063,511
Kansas banking			260,431				272,685				289,642				309,240				329,157				342,596
Other states banking			196,495				226,383				241,041				248,653				258,965				260,329
Subtotal			2,202,249				2,290,197				2,384,921				2,473,354				2,543,354				2,593,306
Secondary market			37,204				37,348				35,194				34,868				25,615				25,586
Total loans		$	2,239,453			$	2,327,545			$	2,420,115			$	2,508,222			$	2,568,969			$	2,618,892
NET INCOME (LOSS) BY SEGMENT
Oklahoma banking		$	5,290			$	3,435			$	4,205			$	3,399			$	4,387			$	2,857
Texas banking			1,575				1,079				4,001				(1,801	)			757				1,685
Kansas banking			971				131				293				(306	)			940				(322	)
Other states banking			(9,039	)			(924	)			(3,674	)			494				(477	)			1,750
Subtotal			(1,203	)			3,721				4,825				1,786				5,607				5,970
Secondary market			127				(13	)			444				173				83				310
Other operations			(1,894	)			(1,247	)			(961	)			1,914				(1,279	)			(1,908	)
Net income (loss)		$	(2,970	)		$	2,461			$	4,308			$	3,873			$	4,411			$	4,372
OFFICES AND EMPLOYEES
FTE Employees			437				424				432				440				447				455
Branches			23				23				23				23				23				24
Loan production offices			2				2				2				2				2				2
Assets per employee		$	6,088			$	6,554			$	6,529			$	6,603			$	6,736			$	6,758