Exhibit 99

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

Southwest Bancorp Inc. Reports Third Quarter 2011 Results

     October 20, 2011, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market — OKSB, OKSBP), (“Southwest”), today reported a net loss available to common shareholders of $10.6 million, or $0.54 per diluted share for the third quarter of 2011, compared to net income available to common shareholders of $2.8 million, or $0.15 per diluted share for the third quarter of 2010, and to a net loss available to common shareholders of $4.0 million, or $0.21 per diluted share for the second quarter of 2011. The net loss available to common shareholders for the nine months ended September 30, 2011 was $13.2 million, or $0.68 per diluted share, compared to net income available to common shareholders for the nine months ended September 30, 2010 of $9.5 million, or $0.55 per diluted share.

     Rick Green, President and CEO, stated “Our losses were primarily the result of significantly increased provisions for loan losses and other problem loan related costs. These increases are generally due to continued weakness in the economy and commercial real estate values in particular.”

     “We continue to focus on the identification and resolution of problem and potential problem credits, and we have taken important additional steps this year to improve our lending, banking, and credit functions: In July 2011, we named a new Chief Banking Officer who is responsible for the lending, deposit, and treasury services and a new Chief Credit Officer who has authority over the credit and work-out functions. Both of these new positions report directly to me. We have bolstered our credit analysis and work-out staff with additional experienced and aggressive officers.

     “However, we are not satisfied with the pace of our resolution of problem and potential problem assets. Accordingly, we have undertaken a disciplined analysis of all alternatives available to accelerate the resolution process in the near-term. That analysis is continuing, while our enhanced work-out process proceeds.

     “Our goals are vital and simple to state. They are to:

•

“Promptly identify and resolve problem and potential problem assets, until we achieve and maintain acceptable levels;

•

“Focus on being a thriving, commercial bank serving our healthy, core markets in Oklahoma, Texas, and Kansas;

•

“Return to sustained profitability;

•

“Resume dividends on our trust preferred securities, preferred stock, and common stock; and

•

“Produce reliable and attractive returns for our shareholders.”

     Loans and Credit Quality:

•

Noncovered loans decreased by $332.9 million, or 14%, from year-end and $414.1 million, or 17%, from September 30, 2010. This decrease included a reduction of the commercial real estate mortgage and construction concentration to $1.5 billion, or 75%, of noncovered loans at September 30, 2011. Healthcare credits at quarter-end totaled $624.1 million, or 31%, of noncovered loans, including $387.9 million of healthcare related commercial real estate mortgage and construction loans.

NASDAQ: OKSB
OKSBP

     Southwest Bancorp Inc. Reports Third Quarter 2011 Results

•

Noncovered loans segmented by the market of the collateral location were as follows: $845.5 million in Texas, $770.3 million in Oklahoma, $252.3 million in Kansas, and $166.8 million in out of market states. The out of market loans consists of thirty-four states in the following categories: $100.4 million in commercial real estate, $39.3 million in construction & development, $21.1 million in commercial & industrial, $3.6 million in residential real estate, and $2.4 million in consumer.

•

Nonperforming assets increased to $203.5 million and 9.86% of noncovered portfolio loans and other real estate from $190.1 million and 8.66% of noncovered portfolio loans and other real estate at June 30, 2011 and from $144.8 million and 6.11% of noncovered portfolio loans and other real estate at December 31, 2010. In the first nine months of 2011 the migration of nonperforming assets consisted of: $154.1 million placed on nonaccrual, $14.4 million returned to accrual status, $47.6 million charged-off, $2.4 million of other real estate fair value impairments, $48.9 million transferred from nonperforming loans to other real estate, $18.0 million received in resolutions and payments on nonperforming loans, and $13.1 million received from sales of other real estate. Nonperforming healthcare assets were $15.7 million, or 8%, of total nonperforming assets.

•

Nonperforming loans consisted of $68.6 million in construction & development, $56.2 million in commercial real estate, $6.1 million in commercial & industrial, $1.7 million in residential real estate, and $0.1 million in consumer. Nonperforming loans by location were as follows: $95.2 million in Texas, $14.9 million in Oklahoma, $14.6 million in out of market states, and $8.0 million in Kansas.

•

Other real estate consisted of $38.9 million in construction & development, $24.4 million in commercial real estate, and $7.5 million in residential real estate. Other real estate by location was as follows: $35.3 million in Texas, $14.4 million in out of market states, $12.4 million in Kansas, and $8.7 million in Oklahoma.

•

Impaired loans had a carrying value of $204.5 million versus an unpaid principal value of $230.6 million. Impaired loans with a specific allowance allocation had a carrying value of $115.5 million versus an unpaid principal value of $125.0 million.

•

The allowance for loan losses was 3.25% of noncovered portfolio loans, compared to 2.80% at year-end 2010 and 3.00% at September 30, 2010. The allowance on specifically allocated impaired loans was 14.41% of carrying value and 13.31% of unpaid principal.

•

Quarterly net charge-offs totaled $14.5 million and consisted of $7.2 million in construction & development, $5.7 million in commercial real estate, $1.5 million in commercial & industrial, and $0.1 million in residential real estate & consumer. The net charge-offs were in the following locations: $7.4 million in Texas, $5.7 million in out of market states, $1.0 million in Oklahoma, and $0.4 million in Kansas.

•

Potential problem loans were $276.7 million, up $43.6 million, or 19%, from year-end, and $39.9 million, or 17%, from September 30, 2010. These loans consisted of $162.7 million in commercial real estate, $75.9 million in construction & development, $37.0 million in commercial & industrial, and $1.1 million in residential real estate. Potential problem loans by location were as follows: $164.0 million in Texas, $54.3 million in Oklahoma, $43.9 million in out of market states, and $14.5 million in Kansas.

     Capital Position and Liquidity:

•

As of September 30, 2011, Southwest and each of its banking subsidiaries met the criteria for regulatory classification as “well-capitalized”. Southwest’s total regulatory capital was $461.9 million, for a total risk-based capital ratio of 20.81%, and Tier 1 capital was $433.6 million, for a Tier 1 risk-based capital ratio of 19.54%. Southwest’s capital exceeded the minimum to be classified as “well-capitalized” by $240.0 million. Stillwater National Bank, Southwest’s principal banking subsidiary, had total regulatory capital of $383.8 million, for a total risk-based capital ratio of 19.14%, and Tier 1 capital of $343.2 million, for a Tier 1 risk-based capital ratio of 17.12%. Stillwater National Bank exceeded the minimum to be classified as “well-capitalized” by $133.2 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%.

•

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 B Preferred Securities issued under

NASDAQ: OKSB
OKSBP

     Southwest Bancorp Inc. Reports Third Quarter 2011 Results

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.

•

As of September 30, 2011, the holding company has $29.2 million in cash.

Financial Overview

     Condition: Total assets were $2.6 billion and total loans were $2.1 billion at September 30, 2011, a decrease of 9% and 14%, respectively, from December 31, 2010.

     At September 30, 2011 the allowance for loan losses was $64.7 million, a decrease of 11% and 1% from September 30, 2010 and December 31, 2010, respectively.

     Total core funding, which includes all non-brokered time deposits and sweep repurchase agreements, comprised 91% of total funding, compared to 90% at June 30, 2011 and 86% at December 31, 2010. Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 9% of total funding compared to 10% at June 30, 2011 and 14% at December 31, 2010. Please see Table 7 for details on these non-GAAP financial measures.

     Year-to-date Results:

     Summary: The net loss available to common shareholders was $13.2 million as of September 30, 2011, compared to net income available to common shareholders of $9.5 million as of September 30, 2010. The $22.7 million decrease in our net income available to common shareholders from 2010 is the result of a $25.5 million increase in the provision for loan losses, a $5.9 million decrease in net interest income, a $4.0 million decrease in noninterest income, and a $1.5 million increase in noninterest expense, offset in part by a $14.3 million decrease in income tax 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 41.80% and results in a tax benefit; however, when the discreet items are excluded, the effective tax rate year-to-date is 38.90%, also resulting in a tax benefit. Discreet items include the reversal of excess tax reserves in the second quarter and the provision to return adjustment in the third quarter.

     Net Interest Income: Net interest income totaled $74.4 million for the first nine months of 2011, compared to $80.4 million for the first nine months of 2010, a decrease of $5.9 million, or 7%. Year-to-date net interest margin was 3.78%, compared to 3.63% in 2010. Included in 2011 year-to-date net interest income was a net reduction of $0.4 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 $0.5 million of net recoveries from the resolution of nonperforming loans and 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 2 basis point decrease and a 3 basis point increase, respectively.

     Provision for Loan Losses and Net Charge Offs: The provision for loan losses totaled $53.8 million for the first nine months of 2011, compared to $28.3 million for the first nine months of 2010. Net charge-offs totaled $54.3 million, or 3.24% (annualized) of average portfolio loans year-to-date as of September 30, 2011, compared to $18.3 million, or 0.95% (annualized) of average portfolio loans for the same period in the prior year.

     As of September 30, 2011, sixteen relationships accounted for $45.5 million in charge-offs, of which $26.1 million were on six out of market relationships. At September 30, 2011, total out of market commercial real estate and construction loans was $139.7 million, of which $51.0 million were internally rated substandard or doubtful.

     Noninterest Income: Noninterest income totaled $10.4 million for the first nine months of 2011, compared to $14.5 million for the first nine months of 2010. The decrease in noninterest income was primarily the result of a $2.6 million decline in gain on investment securities, a $1.0 million decline in gain on sale of loans, mainly from declined student loan sales, and a $0.3 million decline in other noninterest income.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Third Quarter 2011 Results

     Noninterest Expense: Noninterest expense totaled $48.3 million for the first nine months of 2011, compared to $46.8 million for the first nine months of 2010. The increase consists of a $3.5 million increase in other real estate expense and a $1.6 million increase in provision for unfunded loan commitments due to increased loss ratios, offset in part by a $1.8 million decrease in other general and administrative expense, primarily from the settlement of Oklahoma state tax claims for less than the amount accrued, a $1.5 million decrease in FDIC and other insurance expense, and a $0.3 million decrease in occupancy expense.

     Third Quarter Results:

     Summary: For the third quarter of 2011, Southwest incurred a net loss available to common shareholders of $10.6 million, compared to net income available to common shareholders of $2.8 million in the third quarter of 2010 and a net loss available to common shareholders of $4.0 million in the second quarter of 2011. The decrease from the third quarter of 2010 was the result of a $12.6 million increase in the provision for loan losses, a $2.7 million decrease in noninterest income, a $2.4 million decrease in net interest income, and a $2.3 million increase in noninterest expense, offset in part by a $6.7 million decrease in income taxes. The decrease from the second quarter of 2011 was the result of a $4.5 million increase in the provision for loan losses, a $2.7 million increase in noninterest expense, and a $1.0 million decrease in net interest income, offset in part by a $1.6 million decrease in income taxes.

     For the third quarter of 2011, the calculated effective tax rate is 35.23% and results in a tax benefit; however, when discreet items are excluded, the effective tax rate for the third quarter is 36.94%, also resulting in a tax benefit. Discreet items included the provision to return adjustment in the third quarter.

     Net Interest Income: Net interest income totaled $24.0 million for the third quarter of 2011, compared to $26.5 million for the third quarter of 2010, a decrease of $2.4 million, or 9%, and $25.0 million for the second quarter of 2011, a decrease of $1.0 million, or 4%. Net interest margin was 3.77% for the third quarter of 2011, compared to 3.63% for the third quarter of 2010 and 3.79% for the second quarter of 2011. Included in the net interest margins were net reductions of $0.3 million, $0.3 million, and $0.2 million, respectively for each quarter, resulting from interest reversals on nonaccrual loans offset by the quarterly adjustments of the discount accretion on loans and the loss share receivable. The net effects of these adjustments on the net interest margins were a 5 basis point decrease, a 5 basis point decrease, and a 3 basis point decrease for each quarter, respectively.

     Provision for Loan Losses and Net Charge-Offs: The provision for loan losses totaled $24.6 million for the third quarter of 2011, compared to $12.0 million for the third quarter of 2010 and $20.1 million for the second quarter of 2011. Net charge-offs totaled $14.5 million, or 2.70% (annualized) of average portfolio loans for the third quarter of 2011, compared to $6.6 million, or 1.05% (annualized) of average portfolio loans for the third quarter of 2010 and $26.9 million, or 4.76% (annualized) of average portfolio loans for the second quarter of 2011.

     For the third quarter of 2011, eight relationships accounted for $12.9 million in charge-offs, of which $5.5 million were on four out of market relationships.

     Noninterest Income: Noninterest income totaled $3.6 million for the third quarter of 2011, compared to $6.3 million for the third quarter of 2010 and $3.6 million for the second quarter of 2011. The decrease in noninterest income from the third quarter of 2010 was primarily the result of a $2.6 million decrease in gain on investment securities.

     Noninterest Expense: Noninterest expense totaled $17.7 million for the third quarter of 2011, compared to $15.4 million for the third quarter of 2010 and $15.0 million for the second quarter of 2011. The increase from third quarter 2010 consisted of a $1.2 million increase in other real estate expense and a $0.6 million increase in provision for unfunded loan commitments, a $0.6 million increase in other general and administrative expense, and a $0.5 million increase in personnel expense, offset in part by a $0.5 million decrease in FDIC and other insurance expense. The increase from second quarter 2011 consisted of a $3.1 million increase in other general and administrative expense, primarily from the second quarter settlement of Oklahoma state tax claims for less than the amount accrued, and a $0.8 million increase in personnel expense, offset in part by a $1.2 million decrease in other real estate expense.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports Third Quarter 2011 Results

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 September 30, 2011 we had total assets of $2.6 billion, deposits of $2.0 billion, and shareholders’ equity of $367.0 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 September 30, 2011, approximately $624.1 million, or 31%, of our noncovered loans were loans to individuals and businesses in the healthcare industry. We conduct regular market reviews of our current and potential healthcare lending and the appropriate concentrations within healthcare based upon economic and regulatory conditions.

     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 September 30, 2011 approximately $1.5 billion, or 75%, of our noncovered loans were commercial real estate mortgage and construction loans, including $387.9 million of loans to individuals and businesses in the healthcare industry.

     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.

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, collateral values and the amount and timing of loan payoffs; liquidity, contractual obligations, off-balance sheet risk, and market or 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, 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 September 30, 2011 through the date its financial statements are filed with the Securities and Exchange Commission. The September 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 Third 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 Loan Data		Table 6
Unaudited Quarterly Summary Financial Data		Table 7
Unaudited Quarterly Supplemental Analytical Data		Table 8

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

		Third Quarter												Second Quarter
										%								%
QUARTERLY HIGHLIGHTS		2011				2010				Change				2011				Change
Operations
Net interest income		$	24,025			$	26,452				(9	)%		$	24,985				(4	)%
Provision for loan losses			24,626				11,988				105				20,140				22
Noninterest income			3,589				6,335				(43	)			3,604				—
Noninterest expense			17,693				15,418				15				14,980				18
Income (loss) before taxes			(14,705	)			5,381				(373	)			(6,531	)			125
Taxes on income			(5,180	)			1,508				(444	)			(3,561	)			45
Net income (loss)			(9,525	)			3,873				(346	)			(2,970	)			221
Net income (loss) available to common shareholders			(10,589	)			2,825				(475	)			(4,027	)			163
Diluted earnings per share			(0.54	)			0.15				(460	)			(0.21	)			157
Balance Sheet
Total assets			2,572,492				2,905,275				(11	)			2,660,495				(3	)
Loans held for sale			39,902				34,868				14				37,204				7
Noncovered portfolio loans			1,933,694				2,412,796				(20	)			2,156,096				(10	)
Covered portfolio loans			41,209				60,558				(32	)			46,153				(11	)
Total deposits			2,022,253				2,345,648				(14	)			2,094,236				(3	)
Total shareholders’ equity			367,024				376,576				(3	)			376,930				(3	)
Book value per common share			15.37				15.93				(4	)			15.89				(3	)
Key Ratios
Net interest margin			3.77	%			3.63	%							3.79	%
Efficiency ratio			64.07				47.02								52.40
Total capital to risk-weighted assets			20.81				18.45								20.20
Nonperforming loans to portfolio loans — noncovered			6.66				5.62								7.01
Shareholders’ equity to total assets			14.27				12.96								14.17
Tangible common equity to tangible assets*			11.38				10.43								11.38
Return on average assets (annualized)			(1.43	)			0.52								(0.43	)
Return on average common equity (annualized)			(13.42	)			3.57								(5.11	)
Return on average tangible common equity (annualized)**			(13.72	)			3.65								(5.22	)

		Nine Month
										%
YEAR-TO-DATE HIGHLIGHTS		2011				2010				Change
Operations
Net interest income		$	74,431			$	80,361				(7	)%
Provision for loan losses			53,816				28,295				90
Noninterest income			10,442				14,475				(28	)
Noninterest expense			48,298				46,822				3
Income (loss) before taxes			(17,241	)			19,719				(187	)
Taxes on income			(7,207	)			7,063				(202	)
Net income (loss)			(10,034	)			12,656				(179	)
Net income (loss) available to common
shareholders			(13,208	)			9,520				(239	)
Diluted earnings per share			(0.68	)			0.55				(224	)
Balance Sheet
Total assets			2,572,492				2,905,275				(11	)
Loans held for sale			39,902				34,868				14
Noncovered portfolio loans			1,933,694				2,412,796				(20	)
Covered portfolio loans			41,209				60,558				(32	)
Total deposits			2,022,253				2,345,648				(14	)
Total shareholders’ equity			367,024				376,576				(3	)
Book value per common share			15.37				15.93				(4	)
Key Ratios
Net interest margin			3.78	%			3.63	%
Efficiency ratio (GAAP-based)			56.91				49.37
Total capital to risk-weighted assets			20.81				18.45
Nonperforming loans to portfolio loans — noncovered			6.66				5.62
Shareholders’ equity to total assets			14.27				12.96
Tangible common equity to tangible assets*			11.38				10.43
Return on average assets			(0.49	)			0.56
Return on average common equity			(5.61	)			4.47
Return on average tangible common equity**			(5.74	)			4.58

Balance sheet amounts and ratios 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

		September, 30				December 31,				September, 30
		2011				2010				2010
Assets
Cash and due from banks		$	27,501			$	26,478			$	22,851
Interest-bearing deposits			89,099				41,018				66,607
Cash and cash equivalents			116,600				67,496				89,458
Securities held to maturity (fair values of $15,805, $14,029, $9,185, respectively)			15,398				14,304				9,093
Securities available for sale (amortized cost of $247,094, $246,649, $226,323, respectively)			254,201				248,221				231,751
Loans held for sale			39,902				35,194				34,868
Noncovered loans receivable			1,993,694				2,331,293				2,412,796
Less: Allowance for loan losses			(64,698	)			(65,229	)			(72,418	)
Net noncovered loans receivable			1,928,996				2,266,064				2,340,378
Covered loans receivable (includes loss share: $10,976, $14,370, and $17,922, respectively)			41,209				53,628				60,558
Net loans receivable			1,970,205				2,319,692				2,400,936
Accrued interest receivable			8,035				8,590				9,663
Income tax receivable			12,509				—				—
Premises and equipment, net			22,706				23,772				25,075
Noncovered other real estate			70,785				37,722				35,723
Covered other real estate			5,350				4,187				4,448
Goodwill			6,811				6,811				6,811
Other intangible assets, net			4,966				5,371				5,358
Other assets			45,024				49,181				52,091
Total assets		$	2,572,492			$	2,820,541			$	2,905,275
Liabilities
Deposits:
Noninterest-bearing demand		$	388,365			$	377,182			$	329,655
Interest-bearing demand			98,270				92,584				86,153
Money market accounts			461,546				495,253				518,422
Savings accounts			31,319				26,665				25,556
Time deposits of $100,000 or more			551,914				694,565				795,303
Other time deposits			490,839				566,479				590,559
Total deposits			2,022,253				2,252,728				2,345,648
Accrued interest payable			2,507				1,577				2,457
Income tax payable			—				2,878				6,603
Other liabilities			12,162				8,981				9,522
Other borrowings			86,583				94,602				82,506
Subordinated debentures			81,963				81,963				81,963
Total liabilities			2,205,468				2,442,729				2,528,699
Shareholders’ equity
Serial preferred stock; 2,000,000 shares authorized; 70,000 shares issued and outstanding			68,268				67,724				67,548
Common stock — $1 par value; 40,000,000 shares authorized; 19,441,577, 19,421,900, 19,395,675 shares issued and outstanding, respectively			19,442				19,422				19,396
Additional paid-in capital			98,981				98,894				98,750
Retained earnings			177,584				190,793				187,535
Accumulated other comprehensive income			2,749				979				3,347
Total shareholders’ equity			367,024				377,812				376,576
Total liabilities and shareholders’ equity		$	2,572,492			$	2,820,541			$	2,905,275

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

		For the three months								For the nine months
		ended September 30,								ended September 30,
		2011				2010				2011				2010
Interest income
Loans		$	27,873			$	32,824			$	87,890			$	101,087
Investment securities			1,779				2,079				5,389				6,424
Other interest-earning assets			131				180				401				610
Total interest income			29,783				35,083				93,680				108,121
Interest expense
Interest-bearing deposits			3,811				6,802				13,475				22,347
Other borrowings			469				524				1,460				1,565
Subordinated debentures			1,478				1,305				4,314				3,848
Total interest expense			5,758				8,631				19,249				27,760
Net interest income			24,025				26,452				74,431				80,361
Provision for loan losses			24,626				11,988				53,816				28,295
Net interest income (loss) after provision for loan losses			(601	)			14,464				20,615				52,066
Noninterest income
Service charges and fees			3,117				2,994				9,226				9,260
Gain on sales of loans			426				653				1,021				2,054
Gain on investment securities			—				2,605				—				2,646
Other noninterest income			46				83				195				515
Total noninterest income			3,589				6,335				10,442				14,475
Noninterest expense
Salaries and employee benefits			7,734				7,183				22,223				22,400
Occupancy			2,694				2,835				8,201				8,454
FDIC and other insurance			824				1,347				3,004				4,455
Other real estate, net			1,445				228				4,483				963
General and administrative			4,996				3,825				10,387				10,550
Total noninterest expense			17,693				15,418				48,298				46,822
Income (loss) before taxes			(14,705	)			5,381				(17,241	)			19,719
Taxes on income			(5,180	)			1,508				(7,207	)			7,063
Net income (loss)		$	(9,525	)		$	3,873			$	(10,034	)		$	12,656
Net income (loss) available to common shareholders		$	(10,589	)		$	2,825			$	(13,208	)		$	9,520
Basic earnings per common share		$	(0.54	)		$	0.15			$	(0.68	)		$	0.55
Diluted earnings per common share			(0.54	)			0.15				(0.68	)			0.55
Common dividends declared per share			—				—				—				—

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

		For the three months ended September 30,
		2011												2010
		Average								Average				Average								Average
		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
Assets
Noncovered loans		$	2,127,291			$	27,160				5.07	%		$	2,477,413			$	31,791				5.09	%
Covered loans			44,018				713				6.43				65,999				1,033				6.21
Investment securities			269,143				1,779				2.62				246,838				2,079				3.34
Other interest-earning assets			87,649				131				0.59				99,500				180				0.72
Total interest-earning assets			2,528,101				29,783				4.67				2,889,750				35,083				4.82
Other assets			121,115												76,570
Total assets		$	2,649,216											$	2,966,320
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits		$	111,805			$	102				0.36	%		$	93,481			$	111				0.47	%
Money market accounts			480,817				507				0.42				515,754				976				0.75
Savings accounts			30,467				11				0.14				25,306				15				0.24
Time deposits			1,065,019				3,191				1.19				1,428,247				5,700				1.58
Total interest-bearing deposits			1,688,108				3,811				0.93				2,062,788				6,802				1.31
Other borrowings			89,964				469				2.07				93,136				524				2.23
Subordinated debentures			81,963				1,478				7.21				81,963				1,305				6.37
Total interest-bearing liabilities			1,860,035				5,758				1.23				2,237,887				8,631				1.53
Noninterest-bearing demand deposits			375,465												330,321
Other liabilities			32,447												16,960
Shareholders’ equity			381,269												381,152
Total liabilities and shareholders’ equity		$	2,649,216											$	2,966,320
Net interest income and spread						$	24,025				3.44	%						$	26,452				3.29	%
Net interest margin (1)											3.77	%											3.63	%
Average interest-earning assets to average interest-bearing liabilities			135.92	%											129.13	%

SOUTHWEST BANCORP, INC. UNAUDITED AVERAGE BALANCES, YIELDS, AND RATES — YEAR-TO-DATE (Dollars in thousands)		Table 5

		For the nine months ended September 30,
		2011												2010
		Average								Average				Average								Average
		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
Assets
Noncovered loans		$	2,234,219			$	85,366				5.11	%		$	2,533,490			$	97,381				5.14	%
Covered loans			47,619				2,524				7.09				72,676				3,706				6.82
Investment securities			264,004				5,389				2.73				242,629				6,424				3.54
Other interest-earning assets			87,729				401				0.61				114,629				610				0.71
Total interest-earning assets			2,633,571				93,680				4.76				2,963,424				108,121				4.88
Other assets			102,042												74,199
Total assets		$	2,735,613											$	3,037,623
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits		$	112,394			$	329				0.39	%		$	102,843			$	383				0.50	%
Money market accounts			487,522				1,766				0.48				508,742				3,026				0.80
Savings accounts			29,131				37				0.17				25,515				47				0.25
Time deposits			1,158,922				11,343				1.31				1,534,135				18,891				1.65
Total interest-bearing deposits			1,787,969				13,475				1.05				2,171,235				22,347				1.38
Other borrowings			89,384				1,460				2.18				96,099				1,565				2.18
Subordinated debentures			81,963				4,314				7.02				81,963				3,848				6.26
Total interest-bearing liabilities			1,959,316				19,249				1.31				2,349,297				27,760				1.58
Noninterest-bearing demand deposits			370,145												318,609
Other liabilities			23,510												17,629
Shareholders’ equity			382,642												352,088
Total liabilities and shareholders’ equity		$	2,735,613											$	3,037,623
Net interest income and spread						$	74,431				3.45	%						$	80,361				3.30	%
Net interest margin (1)											3.78	%											3.63	%
Average interest-earning assets to average interest-bearing liabilities			134.41	%											126.14	%

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

		2011															2010
		Sep. 30				Jun. 30				Mar. 31				Dec. 31				Sep. 30				Jun. 30				Mar. 31
LOAN COMPOSITION
Noncovered
Real estate mortgage:
Commercial		$	1,169,010			$	1,262,753			$	1,302,164			$	1,310,464			$	1,271,278			$	1,251,709			$	1,230,009
One-to-four family residential			85,272				87,407				87,286				89,800				109,980				106,814				111,185
Real estate construction
Commercial			348,053				372,576				403,635				441,265				527,773				589,590				630,472
One-to-four family residential			25,527				26,400				26,758				27,429				30,527				35,129				34,996
Commercial			367,241				404,229				416,392				452,626				463,132				471,004				487,074
Installment and consumer:
Guaranteed student loans			5,547				5,600				5,700				5,843				5,960				7,389				10,199
Other			32,946				34,335				36,493				39,060				39,014				39,328				38,048
Total noncovered loans, including held for sale			2,033,596				2,193,300				2,278,428				2,366,487				2,447,664				2,500,963				2,541,983
Less allowance for loan losses			(64,698	)			(54,575	)			(61,285	)			(65,229	)			(72,418	)			(67,055	)			(65,168	)
Total noncovered loans, net		$	1,968,898			$	2,138,725			$	2,217,143			$	2,301,258			$	2,375,246			$	2,433,908			$	2,476,815
Covered
Real estate mortgage:
Commercial		$	23,201			$	26,976			$	28,929			$	30,997			$	33,428			$	36,107			$	37,487
One-to-four family residential			7,378				8,113				8,192				9,122				10,071				10,277				10,843
Real estate construction
Commercial			5,987				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			4,286				4,461				5,021				5,554				6,816				8,487				10,807
Installment and consumer:			357				430				550				676				956				1,092				1,326
Total covered loans		$	41,209			$	46,153			$	49,117			$	53,628			$	60,558			$	68,006			$	76,909
LOANS BY SEGMENT
Oklahoma banking		$	770,306			$	834,189			$	838,006			$	871,393			$	890,598			$	914,004			$	926,870
Texas banking			845,485				911,134				953,123				982,845				1,024,863				1,041,228				1,063,511
Kansas banking			252,302				260,431				272,685				289,642				309,240				329,157				342,596
Out of market			166,810				196,495				226,383				241,041				248,653				258,965				260,329
Subtotal			2,034,903				2,202,249				2,290,197				2,384,921				2,473,354				2,543,354				2,593,306
Secondary market			39,902				37,204				37,348				35,194				34,868				25,615				25,586
Total loans		$	2,074,805			$	2,239,453			$	2,327,545			$	2,420,115			$	2,508,222			$	2,568,969			$	2,618,892
NONPERFORMING LOANS BY TYPE
Construction & development		$	68,554			$	73,487			$	68,183			$	67,571			$	88,590			$	75,079			$	54,648
Commercial real estate			56,234				60,857				47,986				30,510				34,448				25,413				28,520
Commercial			6,080				15,224				16,633				6,977				6,180				2,614				4,100
One-to-four family residential			1,706				1,457				2,634				1,984				6,401				8,843				10,552
Consumer			152				153				27				41				42				255				42
Total nonperforming loans — noncovered		$	132,726			$	151,178			$	135,463			$	107,083			$	135,661			$	112,204			$	97,862
NONPERFORMING LOANS BY SEGMENT
Oklahoma banking		$	14,932			$	18,870			$	13,443			$	9,726			$	9,937			$	6,041			$	7,638
Texas banking			95,191				91,449				87,122				55,431				74,581				48,873				41,303
Kansas banking			7,976				9,725				7,924				6,923				14,126				18,593				15,603
Out of market			14,627				31,134				26,974				35,003				37,017				38,697				33,318
Total nonperforming loans — noncovered		$	132,726			$	151,178			$	135,463			$	107,083			$	135,661			$	112,204			$	97,862
OTHER REAL ESTATE BY TYPE
Construction & development		$	38,927			$	12,588			$	6,304			$	5,579			$	9,349			$	1,625			$	1,441
Commercial real estate			24,364				16,300				23,890				20,750				19,053				19,444				12,320
One-to-four family residential			7,494				10,068				10,873				11,393				7,321				6,565				5,048
Total other real estate — noncovered		$	70,785			$	38,956			$	41,067			$	37,722			$	35,723			$	27,634			$	18,809
OTHER REAL ESTATE BY SEGMENT
Oklahoma banking		$	8,709			$	2,613			$	4,616			$	4,814			$	4,108			$	3,547			$	3,665
Texas banking			35,270				17,398				18,652				15,810				14,651				10,352				4,376
Kansas banking			12,390				14,539				12,848				13,182				12,218				8,989				9,198
Out of market			14,416				4,406				4,951				3,916				4,746				4,746				1,570
Total other real estate — noncovered		$	70,785			$	38,956			$	41,067			$	37,722			$	35,723			$	27,634			$	18,809
POTENTIAL PROBLEM LOANS BY TYPE
Construction & development		$	75,867			$	111,032			$	111,204			$	94,765			$	111,401			$	101,455			$	132,546
Commercial real estate			162,692				140,079				85,833				101,629				97,694				107,538				111,989
Commercial			37,027				38,850				19,940				36,142				27,119				32,843				30,582
One-to-four family residential			1,108				1,210				429				589				608				354				764
Consumer			—				—				—				15				22				27				31
Total potential problem loans — noncovered		$	276,694			$	291,171			$	217,406			$	233,140			$	236,844			$	242,217			$	275,912
POTENTIAL PROBLEM LOANS BY SEGMENT
Oklahoma banking		$	54,310			$	42,565			$	30,678			$	36,170			$	58,230			$	47,686			$	47,147
Texas banking			163,973				183,486				114,506				144,357				116,049				145,684				168,717
Kansas banking			14,530				11,289				19,472				20,232				19,737				1,754				5,175
Out of market			43,881				53,831				52,750				32,381				42,828				47,093				54,873
Total potential problem loans — noncovered		$	276,694			$	291,171			$	217,406			$	233,140			$	236,844			$	242,217			$	275,912

Continued

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

		2011												2010
		Sep. 30				Jun. 30				Mar. 31				Dec. 31				Sep. 30				Jun. 30				Mar. 31
OUT OF MARKET LOANS
Net Balance
Arizona		$	35,978			$	49,977			$	57,657			$	65,615			$	68,887			$	65,770			$	66,428
Iowa			26,626				26,695				26,759				26,836				28,953				25,035				25,108
Colorado			23,234				24,187				28,422				28,619				30,160				31,509				32,793
New Mexico			21,019				21,092				28,226				28,710				29,188				29,514				29,732
California			10,737				9,814				9,984				9,906				10,169				10,554				10,560
Ohio			9,367				9,568				9,963				10,420				10,666				10,786				10,293
Tennessee			6,484				6,550				6,606				6,784				6,837				6,898				6,967
Florida			6,374				10,582				7,600				7,627				7,622				7,531				7,635
Louisiana			5,644				5,963				8,018				8,651				9,223				9,788				10,354
Alabama			4,306				4,443				4,479				4,520				5,027				5,065				5,100
Other (24 states included)			17,041				27,624				38,669				43,353				41,921				56,515				55,359
Total out of market loans		$	166,810			$	196,495			$	226,383			$	241,041			$	248,653			$	258,965			$	260,329
Nonperforming out of market loans
Arizona		$	8,441			$	16,745			$	10,316			$	17,061			$	19,145			$	19,576			$	11,834
Colorado			746				4,909				880				1,235				1,239				1,255				521
New Mexico			5,135				5,135				11,827				11,827				11,827				11,827				11,827
Tennessee			—				—				—				30				32				33				35
Florida			305				1,479				1,479				1,479				1,479				1,486				1,486
Alabama			—				157				172				192				192				195				195
Other (24 states included)			—				2,709				2,300				3,179				3,103				4,325				7,420
Total nonperforming out of market loans		$	14,627			$	31,134			$	26,974			$	35,003			$	37,017			$	38,697			$	33,318
Potential problem out of market loans
Arizona		$	10,287			$	14,865			$	25,242			$	14,986			$	15,608			$	10,648			$	18,428
Iowa			—				—				—				—				—				9,100				9,100
Colorado			17,034				13,500				17,933				17,395				17,395				17,395				17,395
New Mexico			11,589				11,635				—				—				—				—				—
California			593				9,423				9,575				—				9,825				9,950				9,950
Florida			108				116				—				—				—				—				—
Alabama			4,270				4,292				—				—				—				—				—
Total potential problem out of market loans		$	43,881			$	53,831			$	52,750			$	32,381			$	42,828			$	47,093			$	54,873
ALLOWANCE ACTIVITY
Balance, beginning of period		$	54,575			$	61,285			$	65,229			$	72,418			$	67,055			$	65,168			$	62,413
Charge offs			16,067				27,562				13,392				14,720				7,006				6,168				6,545
Recoveries			1,564				712				398				266				381				279				769
Net charge offs			14,503				26,850				12,994				14,454				6,625				5,889				5,776
Provision for loan losses			24,626				20,140				9,050				7,265				11,988				7,776				8,531
Balance, end of period		$	64,698			$	54,575			$	61,285			$	65,229			$	72,418			$	67,055			$	65,168
NET CHARGE OFFS BY TYPE
Construction & development		$	7,177			$	10,847			$	1,012			$	11,613			$	1,641			$	4,126			$	2,920
Commercial real estate			5,702				7,593				7,290				1,351				1,582				515				919
Commercial			1,469				7,999				4,337				1,214				1,318				1,081				1,148
One-to-four family residential			55				165				58				149				1,589				119				558
Consumer			100				246				297				127				495				48				231
Total net charge offs by type		$	14,503			$	26,850			$	12,994			$	14,454			$	6,625			$	5,889			$	5,776
NET CHARGE OFFS BY SEGMENT
Oklahoma banking		$	1,058			$	1,442			$	1,593			$	1,616			$	1,960			$	371			$	1,815
Texas banking			7,386				9,163				4,502				10,485				2,219				4,726				3,734
Kansas banking			361				1,791				372				64				823				482				1,077
Out of market			5,698				14,454				6,527				2,289				1,623				310				(850	)
Total net charge offs by segment		$	14,503			$	26,850			$	12,994			$	14,454			$	6,625			$	5,889			$	5,776