southwest bancorp inc/okla (OKSB) Snapshot

Southwest Bancorp Inc. Presents at D.A. Davidson & Co.'s 15th Annual Financial Services Conference, May-08-2013 . Venue: Bell Harbor Conference Center, 2211 Alaskan Way, Seattle, WA 98121, United States.

Southwest Bancorp Inc. announced unaudited consolidated earnings results for first quarter ended March 31, 2013. For the quarter, the company reported net interest income of $15,606,000, net income available to common shareholders of $2,389,000, or $0.12 per basic and diluted share, income before taxes of $4,257,000 compared to net interest income of $20,849,000, net income available to common shareholders of $4,119,000, or $0.21 per basic and diluted share, income before taxes of $8,338,000 a year ago. Net interest income after provision for loan losses was $15,108,000 compared to $19,133,000 a year ago. The $1.7 million decrease in net income available to common shareholders from the first quarter of 2012 is the result of a $5.2 million decrease in net interest income, offset in part by a $1.3 million decrease in income tax expense, a $1.2 million decrease in the provision for loan losses, and the $1.1 million decrease primarily in dividends on preferred stock due to the repurchase during 2012. Return on average assets was 0.46% and return on average common equity was 3.89% compared to return on average assets of 0.89% and return on average common equity was 7.00% a year ago. Return on average tangible common equity (annualized) was 3.90% compared to 7.03% a year ago. Book value per common share as on March 31, 2013 was $12.72 compared to $12.21 as at March 31, 2012. Tangible Book value per common share as on March 31, 2013 was $12.66 compared to $12.15 as at March 31, 2012. Total interest income was $18,937,000 against $25,507,000 a year ago. For the first quarter of 2013, the company recorded net charge-offs totaled $4.4 million, or 1.32% (annualized) of average portfolio loans, compared to net charge-offs of $1.3 million, or 0.32% (annualized) of average portfolio loans for the first quarter of 2012.

Southwest Bancorp Inc. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on Apr 24, 2013