Exhibit 99.1

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

Southwest Bancorp Inc. Reports 2009 Earnings
Enters into Regulatory Agreement

     January 28, 2010, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market—OKSB), (“Southwest”), today reported net income available to common shareholders of $2.5 million, or $0.17 per diluted share for the fourth quarter 2009, compared to $3.0 million, or $0.20 per diluted share for the fourth quarter of 2008. Net income available to common shareholders for the year ended December 31, 2009 was $8.8 million, or $0.60 per diluted share, compared to $14.7 million, or $1.00 per diluted share for the year ended December 31, 2008. At December 31, 2009, total assets were $3.1 billion.

     Rick Green, Southwest Bancorp’s President and Chief Executive Officer, stated, “Southwest’s 2009 results demonstrate our ability to maintain top line revenue, effectively manage noninterest expenses, and take steps to control risk.

     Southwest’s nonperforming assets increased significantly during the year as the economy in general, and commercial real estate values in particular, continued to show weakness. We recorded provisions for losses that were over $22 million greater than our net charge offs for the year. At December 31, 2009, the allowance for loan losses of $62.4 million was 2.46% of portfolio loans, excluding loans covered by FDIC loss sharing agreements. Each of our nonaccrual loans is valued on an individual basis using primarily the fair value of collateral or estimated future cash flows, with a specific allowance recorded based on the result.

     On January 27, 2010, our principal banking subsidiary, Stillwater National Bank and Trust Company (“Stillwater National”) entered into a formal agreement with the United States Comptroller of the Currency (“OCC”) relating to its levels of commercial real estate lending and problem assets. The OCC is the primary regulator for national banks. Additional information regarding this agreement is included later in this release under the heading “Regulatory Matters.”

     The economy continues to show weakness. In 2010 our goals are to work diligently to identify and resolve problem credits, reduce our commercial lending concentrations, and comply with our agreement with the OCC while continuing to produce consistent net interest income.

     Southwest and its bank subsidiaries have maintained capital levels that significantly exceed the minimums for regulatory “well capitalized” status. At December 31, 2009, our total regulatory capital was $413.4 million for a total risk-based capital ratio of 14.55%, and Tier 1 capital was $377.4 million for a Tier 1 risk-based capital ratio of 13.28%.

     2009 Results

     Net interest income growth and expense control made it possible for us to generate $8.8 million in net income for our common shareholders in 2009, while increasing the allowance for loan losses by $22.6 million.

     Significant developments during the year include:

	•		Improved net interest income;
	•		Provide additional allowance and provision for loan losses;

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports 2009 Earnings
Enters into Regulatory Agreement

	•		Increased regulatory capital;
	•		Increase in nonperforming assets;
	•		Greater use of core funding;
	•		Decreased personnel costs and overall noninterest expenses; and
	•		Acquired First National Bank of Anthony, (“FNBA”), Anthony, Kansas in an FDIC-assisted transaction during the second quarter.”

Financial Overview

     Condition: Total assets were $3.1 billion at December 31, 2009, an increase of 8% from December 31, 2008. At December 31, 2009 total loans were $2.7 billion, which includes $85.4 million of loans acquired from FNBA in the second quarter.

     At December 31, 2009, the allowance for loan losses was $62.4 million, up 57% from year-end 2008 and represented 2.46% of noncovered portfolio loans versus 1.59% at December 31, 2008. 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. For the year ended December 31, 2009, the provision for loan losses increased by $20.2 million, or 106%, over the provision for the year ended December 31, 2008. The provision for loan losses exceeded net charge-offs by $4.6 million for the fourth quarter and $22.6 million for the year.

     In the second quarter of 2009, Bank of Kansas, a subsidiary of Southwest, acquired assets and assumed liabilities of FNBA in an FDIC-assisted transaction with loss sharing. The loss sharing agreement requires the FDIC to cover 80% of any net losses on covered loans and related assets up to $35.0 million, and 95% of net losses above $35.0 million. (Assets subject to these agreements are referred to as “covered”.)

     Excluding covered assets, nonperforming assets increased to $124.6 million and 4.87% of portfolio loans and other real estate owned as of December 31, 2009 from $111.7 million and 4.33% of portfolio loans and other real estate owned as of September 30, 2009 and from $70.1 million and 2.80% of portfolio loans and other real estate owned at December 31, 2008. A breakdown of noncovered portfolio loans and noncovered nonperforming assets by type is shown in the following table:

		Noncovered				Percentage of				Noncovered				Percentage of
		portfolio				total noncovered				nonperforming				total noncovered
(dollars in thousands)		loans				portfolio loans				assets				nonperforming assets
Real estate construction		$	659,187				25.96	%		$	57,586				46.21	%
Commercial real estate			1,212,409				47.75				28,451				22.83
Commercial			519,146				20.44				10,422				8.36
Residential real estate mortgages			109,002				4.29				9,463				7.59
Other consumer loans			39,550				1.56				275				0.22
Other real estate owned			—				—				18,432				14.79
Total		$	2,539,294				100.00	%		$	124,629				100.00	%

     Excluding covered loans, nonaccrual loans were $105.9 million as of December 31, 2009, an increase of $11.2 million from September 30, 2009 and $46.6 million from December 31, 2008. These loans are carried at their estimated collectible amounts and no longer accrue interest. Noncovered loans 90 days or more past due, another component of nonperforming assets, were $310,000 as of December 31, 2009 and decreased $10.3 million from September 30, 2009 and $4.4 million from December 31, 2008. These loans are deemed to have sufficient collateral and are in the process of collection.

     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

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports 2009 Earnings
Enters into Regulatory Agreement

to $267.3 million at December 31, 2009, an increase of $7.8 million from September 30, 2009 and $135.8 million from December 31, 2008. Potential problem loans are subject to continuing management attention and are considered by management in determining the level of the allowance for loan losses.

     Southwest’s core business is lending. Our primary lending activity is for commercial real estate occupied by businesses and lending to health care professions for start up medical and dental practices, office buildings, surgery centers, hospitals, and facilities for retirement and long-term care. Our loan portfolio includes commercial construction loans and commercial loans secured by completed projects. Real estate construction and commercial real estate represents the majority of our problem assets in each of our markets.

     During 2008 and 2009, we continued to evaluate the appropriate limits on types of lending based upon regular studies of commercial real estate and healthcare markets. In 2010, we plan to reduce the percentage of commercial real estate and commercial real estate construction loans to total portfolio loans in view of current economic conditions. Our plan focus is on reductions in particular subcategories of commercial real estate loans that are identified in our regular real estate market reviews. In general, and with some exceptions regarding locations and particular types of facilities, we do not intend to decrease healthcare related commercial or mortgage lending or commercial mortgage lending on owner-occupied properties that otherwise meet our underwriting criteria. These changes have significant effects on loan growth. Year-over-year, outstanding portfolio loans increased by $130.2 million, or 5%, however, the growth was driven by the acquisition of $117.1 million of loans in the FNBA transaction and significant advances on commitments made in 2008. We expect to see our loans decrease in 2010 as a result of our plans and soft demand in our markets.

     At December 31, 2009, 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 capital exceeded the minimum to be classified as “well-capitalized” by $129.3 million. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators.

     Year-to-date Results:

     Summary: The $5.8 million decrease in our net income available to common shareholders from 2008 is the result of a $20.2 million increase in the provision for loan losses, a $3.5 million increase in FDIC insurance and other insurance expense, and a $3.9 million increase in dividends on the preferred stock that we issued in December 2008, offset in part by a $4.0 million decrease in personnel costs, a $1.8 million decrease in general and administrative expenses, a $1.9 million decrease in income tax expense, a $9.0 million increase in net interest income, a $2.8 million increase in other noninterest income, and a $2.0 million increase in gain on sale of investment securities.

     Net Interest Income: Net interest income totaled $98.7 million for 2009, compared to $89.7 million for 2008. Net interest margin was 3.38% compared to 3.36% in 2008. Included in the second quarter net interest income is a one-time recovery of $1.9 million in interest from the successful resolution of a nonperforming loan. Net interest margin would have been 6 basis points lower without this recovery. Included in the fourth quarter net interest income is recognition of discount income due to prepayment and collection of loans acquired in the FNBA transaction in excess of the recorded value at the date of the acquisition. This increased net margin by 3 basis points.

     Provision for Loan Losses and Net Charge Offs: The provision for loan losses totaled $39.2 million for 2009, compared to $19.0 million for 2008. Noncovered net charge offs totaled $16.8 million, or 0.64% of average noncovered portfolio loans for 2009, compared to $8.8 million, or 0.37% of average noncovered portfolio loans for 2008.

     Noninterest Income: For 2009, noninterest income totaled $21.9 million, compared to $16.1 million for 2008. The increase in noninterest income was primarily the result of a $2.0 million increase in gain on sale of investment securities and a $2.8 million increase in other noninterest income, which includes the $3.3 million gain on the FNBA acquisition that occurred in the second quarter.

     Noninterest Expense: For 2009, noninterest expense totaled $60.9 million, compared to $62.5 million for 2008. The decrease primarily consists of a $4.0 million reduction in personnel expense, a $940,000 decrease in other general and administrative expenses, and an $865,000 decrease in provision for unfunded loan commitments,

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports 2009 Earnings
Enters into Regulatory Agreement

offset in part by a $3.5 million increase in FDIC and other insurance expense and a $765,000 increase in occupancy expense.

     Efficiency Ratio: The efficiency ratio improved to 50.45% for 2009 from 59.03% for 2008.

     Fourth Quarter Results:

     Summary: The $448,000 decrease in our net income available to common shareholders compared to the fourth quarter of 2008 was the result of a $3.9 million increase in the provision for loan losses, a $2.2 million increase in noninterest expense, and a $797,000 increase in quarterly dividends on the preferred stock that we issued in December 2008, offset in part by a $5.4 million increase in net interest income and a $1.1 million increase in noninterest income.

     Net Interest Income: Net interest income totaled $27.8 million for the fourth quarter of 2009, compared to $22.4 million for the fourth quarter of 2008. Net interest margin was 3.71% for the fourth quarter of 2009, compared to 3.22% for the fourth quarter of 2008. Included in net interest income is recognition of discount income due to prepayment and collection of loans acquired in the FNBA transaction in excess of the recorded value at the date of acquisition. This increased net margin by 12 basis points.

     Provision for Loan Losses: The provision for loan losses totaled $10.6 million for the fourth quarter of 2009, compared to $6.7 million for the fourth quarter of 2008. Noncovered net charge offs totaled $6.2 million, or 0.95% (annualized) of average noncovered portfolio loans for the fourth quarter of 2009, compared to $2.7 million, or 0.44% (annualized) of average noncovered portfolio loans, for the fourth quarter of 2008.

     Noninterest Income: Noninterest income totaled $4.5 million for the fourth quarter of 2009, compared to $3.4 million for the fourth quarter of 2008. The increase is the result of a $387,000 increase in service charges and fees, a $313,000 increase in the gain on sale of loans, and a $299,000 increase in the gain on sale of securities.

     Noninterest Expense: Noninterest expense totaled $16.0 million for the fourth quarter of 2009, a $2.2 million increase from the fourth quarter of 2008. The increase primarily consists of a $960,000 increase in personnel expense, a $747,000 increase in other general and administrative expenses, and a $456,000 increase in FDIC and other insurance expense.

     Efficiency Ratio: The efficiency ratio for the fourth quarter of 2009 improved to 49.69% from 53.37% for the fourth quarter of 2008.

New Business Opportunity

There is strong demand for rural healthcare facilities, focusing on areas and cities with populations of less than 100,000. Southwest is providing funding for three new hospitals now under construction in rural areas of three different states, under a United States Department of Agriculture (“USDA”) program that provides a USDA guarantee upon completion of each project. We see this important new business opportunity evolving to position our company with a recurring source of new revenue as our population grows older, lives longer, and prefers staying in their home communities for life.

Southwest Bancorp and Subsidiaries

     Southwest is the financial holding company for Stillwater National Bank and Trust Company, Bank of Kansas, SNB Capital Corporation, Healthcare Strategic Support, Inc., and Business Consulting Group, Inc. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit, and investment services, and specialized cash management, consulting, and other financial services from offices in Oklahoma, Texas, and Kansas, and on the Internet, through SNB DirectBanker^®.

     Southwest focuses on converting its strategic vision into long-term shareholder value. Our vision includes a commercial banking model and a community banking model focused on more traditional banking operations in our three-state market. We operate seven offices in Texas, eleven offices in Oklahoma, and nine offices in Kansas. At December 31, 2009, our Texas segment accounted for $1.1 billion, or 40% of total portfolio loans, followed by $933.2 million, or 36%, from our Oklahoma segment, $359.6 million, or 14%, from our Kansas segment, and $277.5 million, or 11%, from our other states segment.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports 2009 Earnings
Enters into Regulatory Agreement

     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.

Regulatory Matters

Under the terms of the January 27, 2010, Agreement with the OCC, Stillwater National is required, to submit written plans to the OCC and to take required actions relating to the following items:

	•		Establishing and ensuring compliance with a plan to reduce credit risk and improve loan portfolio management;
	•		Eliminating credit weaknesses in nonperforming and potential problem loans;
	•		On-going review and grading of the Stillwater National’s loan portfolio;
	•		Improving the Stillwater National’s position regarding nonperforming and potential problem loans and other real estate owned;
	•		Improving loan portfolio concentration risk management; and
	•		Establishing and operating a loan workout department.

In addition, Stillwater National is required to prepare a three-year capital plan; and to obtain OCC approval before increasing its use of brokered deposits or declaring dividends.

The compliance committee of the Board of Directors of Stillwater National will submit quarterly reports to the OCC setting forth a description of the actions needed to achieve full compliance with the formal agreement, actions taken to comply, and the results and status of these actions.

Stillwater National remains well-capitalized for regulatory purposes with a leverage ratio of 11.37%, a Tier I risk based capital ratio of 12.00%, and a total risk based capital ratio of 13.84%. General regulatory minimums to be well-capitalized are a leverage ratio of 5.00%, a tier I risk based capital ratio of 6.00%, and a total risk based capital ratio of 10.00%.

Southwest has made informal commitments to the Federal Reserve Bank of Kansas City (“FRB”) which include providing prior notice of the declaration and payment of dividends on trust preferred securities, preferred stock issued under the Treasury Department’s Capital Purchase Program, and common stock, and of planned receipt of dividends from its banking subsidiaries. Southwest also has agreed to submit a capital plan to the FRB and to obtain FRB approval for any additional borrowings at the holding company level. Southwest does not intend to increase its borrowings.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports 2009 Earnings
Enters into Regulatory Agreement

Forward-Looking Statements

     This Press 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 time 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 its 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 December 31, 2009 through the date its financial statements are filed with the Securities and Exchange Commission. The December 31, 2009 financial statements will be adjusted as necessary to properly consider the impact of subsequent events on estimates used to prepare those statements.

NASDAQ: OKSB
OKSBP

Southwest Bancorp Inc. Reports 2009 Earnings
Enters into Regulatory Agreement

Financial Tables

Unaudited Financial Highlights		Table 1
Unaudited Consolidated Statements of Financial Condition		Table 2
Unaudited Consolidated Statements of Operations		Table 3
Unaudited Average Balances, Yields, and Rates-Quarterly		Table 4
Unaudited Average Balances, Yields, and Rates-Year-to-date		Table 5
Unaudited Summary Financial Data by Quarter-2009 and 2008		Table 6
Unaudited Supplemental Analytical Data by Quarter-2009 and 2008		Table 7

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

		Fourth Quarter												Third Quarter
										%								%
QUARTERLY HIGHLIGHTS		2009				2008				Change				2009				Change
Operations
Net interest income		$	27,797			$	22,414				24	%		$	25,400				9	%
Provision for loan losses			10,640				6,698				59				10,177				5
Noninterest income			4,488				3,429				31				3,710				21
Noninterest expense			16,041				13,793				16				15,528				3
Income before taxes			5,604				5,352				5				3,405				65
Taxes on income			2,030				2,127				(5	)			1,271				60
Net income			3,574				3,225				11				2,134				67
Net income available to common shareholders			2,534				2,982				(15	)			1,097				131
Diluted earnings per share			0.17				0.20				(15	)			0.07				143
Balance Sheet
Total assets			3,108,291				2,879,762				8				3,029,347				3
Loans held for sale			43,134				56,941				(24	)			36,526				18
Noncovered portfolio loans			2,539,294				2,494,506				2				2,572,111				(1	)
Covered portfolio loans			85,405								—				103,630				(18	)
Total deposits			2,592,730				2,180,122				19				2,473,162				5
Total shareholders’ equity			309,778				302,203				3				309,118				—
Book value per share			16.46				16.18				2				16.43				—
Key Ratios
Net interest margin			3.71	%			3.22	%							3.39	%
Efficiency ratio (GAAP-based)			49.69				53.37								53.34
Total capital to risk-weighted assets			14.55				14.26								14.31
Nonperforming loans to portfolio loans — noncovered			4.18				2.56								4.09
Shareholders’ equity to total assets			9.97				10.49								10.20
Tangible common equity to tangible assets			7.61				7.96								7.79
Return on average assets (annualized)			0.46				0.45								0.28
Return on average equity (annualized)			4.51				5.11								2.72

		Twelve Months
										%
YEAR-TO-DATE HIGHLIGHTS		2009				2008				Change
Operations
Net interest income		$	98,691			$	89,719				10	%
Provision for loan losses			39,176				18,979				106
Noninterest income			21,936				16,138				36
Noninterest expense			60,858				62,488				(3	)
Income before taxes			20,593				24,390				(16	)
Taxes on income			7,611				9,489				(20	)
Net income			12,982				14,901				(13	)
Net income available to common shareholders			8,837				14,658				(40	)
Diluted earnings per share			0.60				1.00				(40	)
Balance Sheet
Total assets			3,108,291				2,879,762				8
Loans held for sale			43,134				56,941				(24	)
Noncovered portfolio loans			2,539,294				2,494,506				2
Covered portfolio loans			85,405				—				—
Total deposits			2,592,730				2,180,122				19
Total shareholders’ equity			309,778				302,203				3
Book value per share			16.46				16.18				2
Key Ratios
Net interest margin			3.38	%			3.36	%
Efficiency ratio (GAAP-based)			50.45				59.03
Total capital to risk-weighted assets			14.55				14.26
Nonperforming loans to portfolio loans — noncovered			4.18				2.56
Shareholders’ equity to total assets			9.97				10.49
Tangible common equity to tangible assets			7.61				7.96
Return on average assets			0.43				0.54
Return on average equity			4.20				6.40

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

		December 31,				December 31,
		2009				2008
Assets
Cash and due from banks		$	118,847			$	27,287
Investment securities:
Held to maturity. Fair value: $6,754, $7,293, respectively			6,670				7,343
Available for sale. Amortized cost: $236,199, $233,293, respectively			237,703				238,037
Other investments, at cost			19,066				18,786
Loans held for sale			43,134				56,941
Noncovered loans receivable			2,539,294				2,494,506
Less: Allowance for loan losses			(62,413	)			(39,773	)
Net noncovered loans receivable			2,476,881				2,454,733
Covered loans receivable (includes loss share receivable of $23.9 million)			85,405				—
Net loans receivable			2,562,286				2,454,733
Accrued interest receivable			10,806				11,512
Premises and equipment, net			26,536				24,580
Noncovered other real estate			18,432				6,092
Covered other real estate			4,748				—
Goodwill			6,811				7,071
Other intangible assets, net			5,779				3,764
Other assets			47,473				23,616
Total assets		$	3,108,291			$	2,879,762
Liabilities and shareholders’ equity
Deposits:
Noninterest-bearing demand		$	324,829			$	261,940
Interest-bearing demand			74,201				76,027
Money market accounts			505,521				454,250
Savings accounts			25,730				14,135
Time deposits of $100,000 or more			1,004,439				802,244
Other time deposits			658,010				571,526
Total deposits			2,592,730				2,180,122
Accrued interest payable			3,191				7,018
Income tax payable			4,486				3,651
Other liabilities			13,121				9,667
Other borrowings			103,022				295,138
Subordinated debentures			81,963				81,963
Total liabilities			2,798,513				2,577,559
Shareholders’ equity
Preferred stock, Series B — $1,000 par value; 1,250,000 shares authorized; 70,000 shares issued			67,037				66,392
Common stock — $1 par value; 20,000,000 shares authorized; 14,750,713 and 14,658,042 shares issued, respectively			14,751				14,658
Paid in capital			49,029				49,101
Retained earnings			178,016				170,579
Accumulated other comprehensive income			945				2,921
Treasury stock, at cost, 0 and 80,383 shares, respectively			—				(1,448	)
Total shareholders’ equity			309,778				302,203
Total liabilities and shareholders’ equity		$	3,108,291			$	2,879,762

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

		For the three months								For the twelve months
		ended December 31,								ended December 31,
		2009				2008				2009				2008
Interest income
Loans		$	36,355			$	36,183			$	141,239			$	152,719
Investment securities			2,433				2,693				9,146				9,986
Other interest-earning assets			1				19				14				89
Total interest income			38,789				38,895				150,399				162,794
Interest expense
Interest-bearing deposits			9,090				13,263				42,319				61,022
Other borrowings			625				1,487				4,049				7,242
Subordinated debentures			1,277				1,731				5,340				4,811
Total interest expense			10,992				16,481				51,708				73,075
Net interest income			27,797				22,414				98,691				89,719
Provision for loan losses			10,640				6,698				39,176				18,979
Net interest income after provision for loan losses			17,157				15,716				59,515				70,740
Noninterest income
Service charges and fees			3,295				2,908				11,704				11,026
Gain on acquisition			—				—				3,281				—
Gain on sales of loans			933				620				2,963				2,664
Gain (loss) on investment securities			3				(296	)			2,925				902
Other noninterest income			257				197				1,063				1,546
Total noninterest income			4,488				3,429				21,936				16,138
Noninterest expense
Salaries and employee benefits			7,349				6,389				29,299				33,330
Occupancy			3,159				2,844				11,637				10,872
FDIC and other insurance			1,101				645				5,545				2,088
Other real estate, net			39				31				130				146
General and administrative			4,393				3,884				14,247				16,052
Total noninterest expense			16,041				13,793				60,858				62,488
Income before taxes			5,604				5,352				20,593				24,390
Taxes on income			2,030				2,127				7,611				9,489
Net income		$	3,574			$	3,225			$	12,982			$	14,901
Net income available to common shareholders		$	2,534			$	2,982			$	8,837			$	14,658
Basic earnings per common share		$	0.17			$	0.21			$	0.60			$	1.01
Diluted earnings per common share			0.17				0.20				0.60				1.00
Common dividends declared per share			0.0238				0.0950				0.0952				0.3800

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

		For the three months ended December 31,
		2009												2008
		Average								Average				Average								Average
		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
Assets
Noncovered loans		$	2,613,741			$	34,881				5.29	%		$	2,512,425			$	36,183				5.73	%
Covered loans			91,459				1,474				6.39				—				—				—
Investment securities			264,216				2,433				3.65				249,846				2,693				4.29
Other interest-earning assets			5,624				1				0.07				5,116				19				1.48
Total interest-earning assets			2,975,040				38,789				5.17				2,767,387				38,895				5.59
Other assets			74,889												68,822
Total assets		$	3,049,929											$	2,836,209
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits		$	75,614			$	66				0.35	%		$	76,359			$	130				0.68	%
Money market accounts			502,247				1,170				0.92				513,095				2,132				1.65
Savings accounts			25,388				16				0.25				14,375				11				0.30
Time deposits			1,585,240				7,838				1.96				1,300,295				10,990				3.36
Total interest-bearing deposits			2,188,489				9,090				1.65				1,904,124				13,263				2.77
Other borrowings			127,378				625				1.95				297,155				1,487				1.99
Subordinated debentures			81,963				1,277				6.23				81,963				1,731				8.45
Total interest-bearing liabilities			2,397,830				10,992				1.82				2,283,242				16,481				2.87
Noninterest-bearing demand deposits			316,784												279,268
Other liabilities			20,751												22,693
Shareholders’ equity			314,564												251,006
Total liabilities and shareholders’ equity		$	3,049,929											$	2,836,209
Net interest income and spread						$	27,797				3.35	%						$	22,414				2.72	%
Net interest margin (1)											3.71	%											3.22	%
Average interest-earning assets to average interest-bearing liabilities			124.07	%											121.20	%

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

		For the twelve months ended December 31,
		2009												2008
		Average								Average				Average								Average
		Balance				Interest				Yield/Rate				Balance				Interest				Yield/Rate
Assets
Loans (2)		$	2,667,771			$	141,239				5.29	%		$	2,429,129			$	152,719				6.29	%
Investment securities			245,456				9,146				3.73				238,653				9,986				4.18
Other interest-earning assets			5,813				14				0.24				3,854				89				2.31
Total interest-earning assets			2,919,040				150,399				5.15				2,671,636				162,794				6.09
Other assets			68,430												71,263
Total assets		$	2,987,470											$	2,742,899
Liabilities and Shareholders’ Equity
Interest-bearing demand deposits		$	83,813			$	476				0.57	%		$	75,950			$	584				0.77	%
Money market accounts			485,383				4,954				1.02				538,148				12,620				2.35
Savings accounts			21,010				78				0.37				13,930				69				0.50
Time deposits			1,518,638				36,811				2.42				1,253,057				47,749				3.81
Total interest-bearing deposits			2,108,844				42,319				2.01				1,881,085				61,022				3.24
Other borrowings			181,682				4,049				2.23				274,106				7,242				2.64
Subordinated debentures			81,963				5,340				6.52				64,064				4,811				7.51
Total interest-bearing liabilities			2,372,489				51,708				2.18				2,219,255				73,075				3.29
Noninterest-bearing demand deposits			285,184												268,770
Other liabilities			20,845												22,043
Shareholders’ equity			308,952												232,831
Total liabilities and shareholders’ equity		$	2,987,470											$	2,742,899
Net interest income and spread						$	98,691				2.97	%						$	89,719				2.80	%
Net interest margin (1)											3.38	%											3.36	%
Average interest-earning assets to average interest-bearing liabilities			123.04	%											120.38	%

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

		2009																2008
		Dec. 31				Sep. 30				Jun. 30				Mar. 31				Dec. 31				Sep. 30				Jun. 30				Mar. 31
OPERATIONS
Interest income:
Loans		$	36,355			$	35,607			$	36,009			$	33,268			$	36,183			$	38,441			$	37,485			$	40,610
Investment securities			2,433				2,122				2,079				2,512				2,693				2,531				2,426				2,336
Other interest-earning assets			1				4				3				6				19				22				20				28
Total interest income			38,789				37,733				38,091				35,786				38,895				40,994				39,931				42,974
Interest expense:
Interest bearing demand deposits			66				107				150				153				130				147				166				141
Money market accounts			1,170				1,220				1,211				1,353				2,132				2,898				3,062				4,528
Savings accounts			16				39				14				9				11				17				19				22
Time deposits of $100,000 or more			4,340				4,822				5,552				5,980				6,419				6,879				7,051				7,865
Other time deposits			3,498				3,909				4,145				4,565				4,571				4,457				4,809				5,698
Total interest-bearing deposits			9,090				10,097				11,072				12,060				13,263				14,398				15,107				18,254
Other borrowings			625				960				1,180				1,284				1,487				1,839				1,887				2,029
Subordinated debentures			1,277				1,276				1,383				1,404				1,731				1,569				653				858
Total interest expense			10,992				12,333				13,635				14,748				16,481				17,806				17,647				21,141
Net interest income			27,797				25,400				24,456				21,038				22,414				23,188				22,284				21,833
Provision for loan losses			10,640				10,177				7,477				10,882				6,698				6,855				3,190				2,236
Noninterest income:
Service charges and fees			3,295				2,992				2,817				2,600				2,908				2,849				2,812				2,457
Gain on sales of loans			933				386				926				718				620				601				603				840
Gain (loss) on investment securities			3				10				(9	)			2,921				(296	)			(50	)			3				1,245
Other noninterest income			257				322				3,527				238				197				662				541				146
Total noninterest income			4,488				3,710				7,261				6,477				3,429				4,062				3,959				4,688
Noninterest expense:
Salaries and employee benefits			7,349				7,824				6,887				7,239				6,389				8,863				8,856				9,222
Occupancy			3,159				2,958				2,789				2,731				2,844				2,968				2,602				2,458
FDIC and other insurance			1,101				1,134				2,319				991				645				469				521				453
Other real estate, net			39				90				103				(102	)			31				(92	)			197				10
Provision for unfunded loan commitments			147				(79	)			(388	)			90				385				90				15				145
Other general and administrative			4,246				3,601				2,980				3,650				3,499				4,235				4,141				3,542
Total noninterest expenses			16,041				15,528				14,690				14,599				13,793				16,533				16,332				15,830
Income before taxes			5,604				3,405				9,550				2,034				5,352				3,862				6,721				8,455
Taxes on income			2,030				1,271				3,605				705				2,127				1,556				2,559				3,247
Net income		$	3,574			$	2,134			$	5,945			$	1,329			$	3,225			$	2,306			$	4,162			$	5,208
Net income available to common shareholders		$	2,534			$	1,097			$	4,910			$	296			$	2,982			$	2,306			$	4,162			$	5,208
PER SHARE DATA
Basic earnings per common share		$	0.17			$	0.07			$	0.34			$	0.02			$	0.21			$	0.16			$	0.29			$	0.36
Diluted earnings per common share			0.17				0.07				0.33				0.02				0.20				0.16				0.28				0.36
Common dividends declared per share			0.0238				0.0238				0.0238				0.0238				0.0950				0.0950				0.0950				0.0950
Book value per share			16.46				16.43				16.30				16.01				16.18				15.56				15.49				15.43
Tangible book value per share			15.99				15.96				15.84				15.52				15.69				15.08				15.00				14.95
COMMON STOCK
Shares issued			14,750,713				14,748,223				14,658,042				14,658,042				14,658,042				14,658,042				14,658,042				14,658,042
Less treasury shares			—				—				(15,602	)			(49,930	)			(80,383	)			(129,586	)			(131,566	)			(133,605	)
Outstanding shares			14,750,713				14,748,223				14,642,440				14,608,112				14,577,659				14,528,456				14,526,476				14,524,437
OTHER FINANCIAL DATA
Investment securities		$	263,439			$	258,790			$	243,077			$	179,006			$	264,166			$	241,728			$	234,429			$	236,059
Loans held for sale			43,134				36,526				26,006				76,404				56,941				72,248				62,892				66,364
Noncovered portfolio loans			2,539,294				2,572,111				2,587,230				2,526,293				2,494,506				2,440,091				2,381,893				2,287,606
Total noncovered loans			2,582,428				2,608,637				2,613,236				2,602,697				2,551,447				2,512,339				2,444,785				2,353,970
Covered portfolio loans			85,405				103,630				117,096				—				—				—				—				—
Total assets			3,108,291				3,029,347				3,038,985				2,928,133				2,879,762				2,832,371				2,773,013				2,670,580
Total deposits			2,592,730				2,473,162				2,452,295				2,330,089				2,180,122				2,198,719				2,211,001				2,094,927
Other borrowings			103,022				146,449				176,368				193,739				295,138				299,118				265,614				282,513
Subordinated debentures			81,963				81,963				81,963				81,963				81,963				81,963				46,393				46,393
Total shareholders’ equity			309,778				309,118				305,416				300,406				302,203				226,123				224,949				224,155
Mortgage servicing portfolio			237,459				223,226				209,425				179,959				158,143				153,250				147,672				145,028
INTANGIBLE ASSET DATA
Goodwill		$	6,811			$	6,811			$	6,811			$	7,071			$	7,071			$	7,071			$	7,071			$	7,071
Core deposit intangible			4,103				4,240				4,378				2,498				2,596				2,693				2,792				2,893
Mortgage servicing rights			1,670				1,625				1,589				1,362				1,159				1,417				1,354				1,299
Nonmortgage servicing rights			6				7				7				8				9				10				11				13
Total intangible assets		$	12,590			$	12,683			$	12,785			$	10,939			$	10,835			$	11,191			$	11,228			$	11,276
Intangible amortization expense		$	381			$	344			$	391			$	204			$	214			$	212			$	215			$	257