For additional information:
           Mark W. Funke
           President & CEO
           Joe T. Shockley, Jr.
           EVP & CFO
           (405) 372-2230

For Immediate Release

Southwest Bancorp, Inc. Reports ThirdQuarter 2014Results

and Announces Quarterly Dividend

October21, 2014, Stillwater, Oklahoma . . . . Southwest Bancorp, Inc. (NASDAQ Global Select Market - OKSB), (“Southwest”), today reported net income for the third quarter of 2014 of $5.3 million, or $0.27 per diluted share, compared to $6.2 million, or $0.31per diluted share, for the second quarter of 2014.  Included in the second quarter of 2014 results was a pre-tax net gain of $4.4 million from the sale of three community bank branches in Anthony, Harper, and Overland Park, Kansas.  Net income for the nine months ended September 30, 2014 totaled $15.1 million, or $0.77 per diluted share, compared to $10.6 million, or $0.54 per diluted share, for the nine months ended September 30, 2013.

Southwest announced that its board of directors has approved a quarterly cash dividend of $0.04 per share payable November  14, 2014 to shareholders of record as of October 31, 2014.

Mark Funke, President and CEO, stated, “The third quarter results reflect continued improvement in asset quality, our focus on growing loan and customer relationships, and improved operating efficiencies. Our efforts produced several highlights for the quarter.

· Loan growth in the third quarter was $41.1 million, adjusted for paydowns onnonaccrual and potential problem loans and the sale of the student loan portfolio. 

· The quarterly net interest margin was 3.44%  at September 30, 2014 compared to 3.34% (normalized) at June 30, 2014 and 3.11% at September 30, 2013. 

· Asset quality improved as nonperforming loans decreased $1.4 million, or 9%, and potential problem loans decreased $19.8 million, or 24%,  during the third quarter.  Included in these improvements is the collection of a $1.3 million recovery of a prior period loan loss and a $6.8 million payoff of a related restructured potential problem loan.The improved asset quality resulted in a negative provision of $2.9 million.”

“These positive results and actions reflect the good work of our associates at Bank SNB and a growing customer base.  We will continue to focus our company on future growth through the expansion of our revenue base while prudently managing our expenses.  We are encouraged by the momentum we have throughout our company.”

On October 1, 2014, Southwest’s previously filed application with the Oklahoma State Banking Department was approved and its wholly owned banking subsidiary became a state chartered bank with the state of Oklahoma. Southwest’s banking subsidiary’s name is now Bank SNB. 

On August 14, 2014, Southwest’s board of directors authorized the repurchase of up to 5.0% or 990,000 shares, of its outstanding common stock, par value $1.00 per share. The share repurchases are expected to be made primarily on the open market from time to time until August 14, 2015.  Repurchases under the program are available at the discretion of management based upon market, business, legal, and other factors.  During the third quarter, Southwest repurchased 223,005 shares for a total of $3.7 million.

Financial Overview

Condition:During the quarter ended September 30, 2014, total assets of $1.9 billion increased $15.8 million from June 30, 2014.  Total loans of $1.4 billion increased $15.7 million from June 30, 2014 and total investment securities of $370.6 million decreased $15.3 million compared to June 30, 2014.  Cash and cash equivalents at September 30, 2014 were $130.1 million,  up  $14.9 million from June 30, 2014. 

At September 30, 2014, the allowance for loan losses was $30.9 million, a decrease of $9.2 million when compared to a year ago, and a decrease of $2.2  million when compared to June 30, 2014.  The allowance for loan losses to portfolio loans was 2.27% as of September 30, 2014, compared to 3.08% as of September 30, 2013 and 2.46% as of June 30, 2014.  The allowance for loan losses to nonperforming loans was 205.29% as of September 30, 2014, compared to 122.65% as of September 30, 2013 and 200.77% as of June 30, 2014.

Nonperforming loans decreased by $17.6 million in a year over year comparison, and decreased $1.4 million during the quarter.  Other real estate at September 30, 2014 was $3.4 million, an increase of $1.8million from September 30, 2013,  but a decrease of $0.8 million when compared to June 30, 2014.  Nonperforming assets were $18.5 million, or 1.36% of portfolio loans and other real estate, as of September 30, 2014, compared to $34.4 million, or 2.63% of portfolio loans and other real estate, as of September 30, 2013, and $20.8 million, or 1.54% of portfolio loans and other real estate, as of June 30, 2014.

Total core funding, which includes all non-brokered deposits and sweep repurchase agreements, comprised92% and 95% of total funding as of September 30, 2014 and June 30, 2014, respectively.  Wholesale funding, including FHLB borrowings, federal funds purchased, and brokered deposits, accounted for 8% and 5% of total funding at September 30, 2014 and June  30, 2014, respectively.  See Table 7 for details on core funding and non-brokered deposits, which are non-GAAP financial measures.

The capital ratios of Southwest and Bank SNB, Southwest’s banking subsidiary, as of September 30, 2014, exceeded the criteria for regulatory classification as “well-capitalized”.  Southwest’s total regulatory capital was $334.5 million, for a total risk-based capital ratio of 21.34%, and Tier 1 capital was $314.1 million, for a Tier 1 risk-based capital ratio of 20.05%.  Southwest’s capital exceeded the minimum to be classified as “well-capitalized” by $177.8 million.  Bank SNB had total regulatory capital of $292.5 million, for a total risk-based capital ratio of 18.77%, and Tier 1 capital of $272.8 million, for a Tier 1 risk-based capital ratio of 17.51%.  Bank SNB exceeded the minimum to be classified as “well-capitalized” by $136.7 million.  Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by Federal bank regulators.

ThirdQuarter Results:

Summary:For the thirdquarter of 2014, net income was $5.3 million, compared to $3.8 million for the thirdquarter of 2013 and $6.2 million for the secondquarter of 2014. 

The $1.5 million increase in our net income compared to the third quarter of 2013was primarily the result of a $0.6 million increase in net interest income, primarily driven by lower interest expense on deposits and a reduction in interest costs due to the redemption of the 10.5% Trust Preferred Securities in third quarter of 2013, and a $2.6 million increase in the negative provision for loan losses,  offset in part by a  $0.5 million decrease in noninterest income and a $0.3 million increase in noninterest expense.

The $0.9 million decrease in net income compared to the second quarter of 2014was primarily due to the $0.7 million decrease in net interest income and the $5.2 million decrease in noninterest income, due to the prior quarter’s inclusion of the $4.4 million pre-tax net gain recognized on the branch sales and $0.6 million recognized on the sale of a stock that was acquired in a prior year repossession.  Partially offsetting these decreases were a $2.5 million increase in the negative provision for loan losses and a $2.0 million decrease in noninterest expense, primarily driven by decreased other real estate expenses, decreased personnel expenses, and decreased general and administrative expenses.

Net Interest Income:Net interest income totaled $15.8 million for the thirdquarter of 2014, compared to $15.3 million for the third  quarter of 2013,  an increase of $0.5million, or 4%, and to $16.6million for thesecond quarter of 2014,  adecrease of $0.7 million, or 4%.Net interest margin was 3.44% for the thirdquarter of 2014, compared to 3.11% for the thirdquarter of 2013 and 3.50% for the second quarter of 2014.  Included in interest income for the second quarter of 2014 was $0.8 million due to accelerated discount accretion attributable to the sale

of loans covered by the loss share agreement.  The net effects of these adjustments on the net interest margin were a 16basis point increase in the second quarter of 2014 net interest margin.Loans (including loans held for sale) increased $60.8 million, or 5%, when compared to September 30, 2013, and $15.7 million, or 1%, when compared to June  30, 2014.

Provision for Loan Losses and Net Charge-offs:  The provision for loan losses is the amount that is required to maintain the allowance for losses at an appropriate level based upon the inherent risks in the loan portfolio after the effects of net charge-offs or net recoveries for the period.  The provision for loan losses was a negative provision (or credit)of $2.9 million for the thirdquarter of 2014, compared to a negative provision of $0.3 million for the thirdquarter of 2013, and a negative provision of $0.4 million for thesecond quarter of 2014.  During the thirdquarter of 2014,  charge-offs totaled $1.2 million and recoveries totaled $1.9 million.  Therefore, the thirdquarter of 2014net recoveries totaled $0.7 million, or (0.21)% (annualized) of average portfolio loans, compared to net recoveries of $0.1 million, or (0.02)% (annualized) of average portfolio loans for the thirdquarter of 2013 and net charge-offsof $1.5 million, or0.45% (annualized) of average portfolio loans for the second quarter of 2014.

Noninterest Income:  Noninterest income totaled $3.1 million for the thirdquarter of 2014, compared to $3.5 million for the thirdquarter of 2013 and to $8.2 million for the second quarter of 2014.The $0.5 million decrease from third quarter 2013 included a $0.2 million decrease in gain on sale of mortgage loans, a $0.1 million decrease in service charges, and a $0.1 million decrease in other noninterest income.  The $5.2 million decrease from second quarter 2014is primarily the result of the $4.4 million recognized as the gain on sales of the community bank branches and $0.6 million gain on the sale of a stock investment that was acquired in a prior year repossession.

Noninterest Expense:Noninterest expense totaled $13.4 million for the thirdquarter of 2014, compared to $13.0million for the thirdquarter of 2013 and to $15.3million for the second quarter of 2014.  The $0.4 million increase in noninterest expense from thirdquarter of 2013 consisted of a $0.2million increase in other real estate expense due to net gains on sales of other real estate properties recognized in the prior year, a $0.2 million increase in employee benefit expense, and a $0.2 million increase ingeneral and administrative expense, primarily increased legal and consulting fees, offset in part by a decrease in the provision for unfunded loan commitments.

The $2.0 million decreasein noninterest expense from second quarter of 2014was due to a $0.7 million decrease in personnel expense, a $0.7 million decrease in other real estate expense, and a $0.4 million decrease in general and administrative expense, resulting from a decrease in the provision for unfunded loan commitments.

Income Tax:  Income tax expense totaled $3.2 million for the thirdquarter of 2014, compared to $2.3 million for the thirdquarter of 2013 and $3.7 million for the second quarter of 2014.  The income tax expense fluctuates in relation to pre-tax income levels.  The thirdquarter of 2014 effective tax rate was 37.5%.

Year-to-date Results:

Summary:  Net income was $15.1 million for the first nine months of 2014, compared to $10.6 million for the first nine months of 2013.  The $4.5 million increase in net income from 2013 is the result of a $2.4million increase in net interest income, primarily driven by lower interest expense on deposits and a reduction in interest expense due to the redemption of the 10.5% Trust Preferred Securities in third quarter of 2013, a $3.5 million increase in the negative provision for loan losses, resulting from improved asset quality,  a $3.8 million increase in noninterest income, primarily the pre-tax net gain on sale of community bank branches, offset in part by a $2.6 million increase in noninterest expense due to decreased gains recognized on sale of other real estate properties and increased employee benefit expenses.

Net Interest Income:Net interest income totaled $48.4 million for the first nine months of 2014, compared to $46.0 million for the first nine months of 2013, an increase of $2.4 million, or 5%,  primarily driven by lower interest expense on deposits and a reduction in interest expense due to the redemption the 10.5% Trust Preferred Securities in third quarter of 2013.  Year-to-date net interest margin was  3.43%, compared to 3.11% for 2013.  Included in interest income for the first nine months of 2014 was $0.8 million due to accelerated discount accretion attributable to the sale of loans covered by the loss share agreement and $0.6 million due to the interest recognition resulting from loans returning to accrual status.  The net effect of these adjustments on the net interest margin was a 9 basis point increase for the first nine months of 2014.  With the rate environment remaining low, earning assets are repricing at lower rates.

Provision for Loan Losses and Net Charge-offs:  The provision for loan losses is the amount of expense that is required to maintain the allowance for losses at an appropriate level based upon the inherent risks in the loan portfolio after the effects of net charge-offs for the period.  The provision for loan losses was a credit (or negative) of $4.2 million for the first nine months of 2014, compared to a credit of $0.7 million for the first nine months of 2013.  Net charge-offs totaled $1.5 million, or 0.15% (annualized) of average portfolio loans year-to-date as of September 30, 2014, compared to $5.9million, or 0.61% (annualized) of average portfolio loans for the same period 2013.  

Noninterest Income:  Noninterest income totaled $14.4 million for the first ninemonths of 2014, compared to $10.6 million for the first nine months of 2013.  The increase primarily consists of the $4.4 million recognized as the pre-tax net gain on sales of the community bank branches and the $0.8 million in gain on sale of investment securities, offset in part by the$1.2 million decline in gains on sales of mortgage loans.

Noninterest Expense:Noninterest expense totaled $42.8 million for the first nine months of 2014, compared to $40.2 million for the first nine months of 2013.  The increase consists of a $1.8 million increase in other real estate expense, which is primarily due to net gains recognized during the prior year on the sale of other real estate properties, a $0.6 million increase in employee benefit expenses, a $0.2 million increase in occupancy expense, and a  $0.3 million increase ingeneral and administrative expense, primarily the result of increasedlegal fees and consulting fees, offset in part by a decrease in the provision for unfunded loan commitments.

Income Tax:  Income tax expense totaled $9.1 million for the first nine months of 2014, compared to $6.4 million for the first nine months of 2013.  The income tax expense fluctuates in relation to pre-tax income levels.  The year-to-date effective tax rate was 37.5% as of September 30, 2014.

Conference Call

Southwest will host a conference call to review these results on Wednesday, October22, 2014 at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).  Investors, news media, and others may pre-register for the call using the following link to receive a special dial-in number and PIN:  http://dpregister.com/10053246.  Telephone participants who are unable to pre-register may access the call by telephone at 866-218-2402 (toll-free) or 412-902-4190 (international).  Participants are encouraged to dial into the call approximately 10 minutes prior to the start time.  The call and corresponding presentation slides will be webcast live on Southwest’s website at www.oksb.com or http://services.choruscall.com/links/oksb141022.html.  An audio replay will be available one hour after the call at 877-344-7529 (toll-free) or 412-317-0088 (international),  conference number 10053246.  Telephone replay access will be available until 9:00 a.m. Eastern Time on November 19, 2014.

Southwest Bancorp and Subsidiaries

Southwest is the holding company for Bank SNB, an Oklahoma state banking corporation(“Bank SNB”). Bank SNB offers commercial and consumer lending, deposit and investment services, specialized cash management, and other financial services from offices in Oklahoma, Texas, and Kansas.  Bank SNB was chartered in 1894 and Southwest was organized in 1981 as the holding company.  At September 30, 2014,  Southwest had total assets of $1.9 billion, deposits of $1.5 billion, and shareholders’ equity of $272.0 million.

Southwest’s area of expertise focuses on the special financial needs of healthcare and health professionals, businesses and their managers and owners, commercial lending, energy banking, and commercial real estate borrowers.  The strategic focus on healthcare lending was established in 1974.  Southwest and its banking subsidiaryprovide 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, 2014, approximately $403.8 million, or 30%, of loans were loans to individuals and businesses in the healthcare industry.  Regular market reviews are conducted of (i) current and potential healthcare lending business,and (ii) the appropriate concentrations within healthcare based upon economic and regulatory conditions.

Southwest’s common stock is traded on the NASDAQ Global Select Market under the symbol OKSB. 

Caution About Forward-Looking Statements

Southwest makes forward-looking statements in this news release that are subject to risks and uncertainties.  These statements are intended to be covered by the safe harbor provision for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements include: 

· Statements of Southwest's goals, intentions, and expectations;

· Estimates of risks and of future costs and benefits;

· Expectations regarding Southwest’s future financial performance and the financial performance of its operating segments;

· Expectations regarding regulatory actions;

· Expectations regarding Southwest’s ability to utilize tax loss benefits;

· Assessments of loan quality, probable loan losses, and the amount and timing of loan payoffs;

· Estimates of the value of assets held for sale or available for sale; 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; changes in regulatory standards and examination policies, and a variety of other matters. These other matters include, among other things, the direct and indirect effects of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators.  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 future results.  For other factors, risks, and uncertainties that could cause actual results to differ materially from estimates and projections contained in forward-looking statements, please read Southwest’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2013.  You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors”.

The cautionary statements in this release also identify important factors and possible events that involve risk and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements.  These forward-looking statements speak only as of the date on which the statements were made.  Southwest does not intend, and undertakes no obligation, to update or revise any forward-looking statements contained in this release, whether as a result of differences in actual results, changes in assumptions, or changes in other factors affecting such statements, except as required by law.

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, 2014 through the date its financial statements are filed with the Securities and Exchange Commission.  The September 30, 2014 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. 

The Southwest Bancorp, Inc. logo is available at

http://www.globenewswire.com/newsroom/prs/?pkgid=8074

The Bank SNB logo is available at

http://www.globenewswire.com/newsroom/prs/?pkgid=23106

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			Third Quarter
QUARTERLY HIGHLIGHTS	2014				% Change	2013		% Change
Operations
Net interest income	$	15,837	$	16,574	(4)%	$	15,273	4%
Provision for loan losses		(2,897)		(355)	716		(329)	781
Noninterest income		3,084		8,246	(63)		3,547	(13)
Noninterest expense		13,358		15,332	(13)		13,019	3
Income before taxes		8,460		9,843	(14)		6,130	38
Taxes on income		3,172		3,691	(14)		2,330	36
Net income		5,288		6,152	(14)		3,800	39
Diluted earnings per share		0.27		0.31	(13)		0.19	42
Balance Sheet
Total assets		1,900,948		1,885,158	1		1,972,367	(4)
Loans held for sale		4,368		6,803	(36)		3,641	20
Portfolio loans		1,363,020		1,344,897	1		1,302,984	5
Total deposits		1,494,946		1,463,855	2		1,583,791	(6)
Total shareholders' equity		271,966		271,351	0		252,802	8
Book value per common share		13.90		13.71	1		12.83	8
Key Ratios
Net interest margin		3.44%		3.50%			3.11%
Efficiency ratio		70.60		61.77			69.18
Total capital to risk-weighted assets		21.34		21.43			21.52
Nonperforming loans to portfolio loans		1.10		1.23			2.27
Shareholders' equity to total assets		14.31		14.39			12.82
Tangible common equity to tangible assets*		14.25		14.34			12.76
Return on average assets (annualized)		1.12		1.27			0.75
Return on average common equity (annualized)		7.69		9.19			5.99
Return on average tangible common equity (annualized)**		7.72		9.24			6.02
	Nine Months
YEAR-TO-DATE  HIGHLIGHTS	2014		2013		% Change
Operations
Net interest income	$	48,412	$	46,013	5%
Provision for loan losses		(4,238)		(707)	499
Noninterest income		14,355		10,575	36
Noninterest expense		42,797		40,246	6
Income before taxes		24,208		17,049	42
Taxes on income		9,077		6,446	41
Net income		15,131		10,603	43
Diluted earnings per share		0.77		0.54	43
Balance Sheet
Total assets		1,900,948		1,972,367	(4)
Loans held for sale		4,368		3,641	20
Portfolio loans		1,363,020		1,302,984	5
Total deposits		1,494,946		1,583,791	(6)
Total shareholders' equity		271,966		252,802	8
Book value per common share		13.90		12.83	8
Key Ratios
Net interest margin		3.43%		3.11%
Efficiency ratio		68.18		71.12
Total capital to risk-weighted assets		21.34		21.52
Nonperforming loans to portfolio loans		1.10		2.27
Shareholders' equity to total assets		14.31		12.82
Tangible common equity to tangible assets*		14.25		12.76
Return on average assets (annualized)		1.04		0.69
Return on average common equity (annualized)		7.54		5.64
Return on average tangible common equity (annualized)**		7.58		5.67

Balance sheet amounts and ratios are as of period end unless otherwise noted.
* This is a Non-GAAP financial measure.  Please see Table 8 for a reconciliation to the most directly comparable GAAP based measure.
** This is a Non-GAAP financial measure.
Please see accompanying tables for additional financial information.

SOUTHWEST BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands) Table 2

	September 30,		December 31,		September 30,
	2014		2013		2013
Assets
Cash and due from banks	$	18,498	$	28,062	$	31,043
Interest-bearing deposits		111,605		251,777		214,241
Cash and cash equivalents		130,103		279,839		245,284
Securities held to maturity (fair values of $11,265, $12,115, and $12,177, respectively)		10,663		11,720		11,739
Securities available for sale (amortized cost of $359,042, $385,423, and $371,433, respectively)		359,944		382,479		370,262
Loans held for sale		4,368		3,060		3,641
Loans receivable (includes loss share of $0, $1,812, and $4,282, respectively)		1,363,020		1,267,843		1,302,984
Less: Allowance for loan losses		(30,917)		(36,663)		(40,081)
Net loans receivable		1,332,103		1,231,180		1,262,903
Accrued interest receivable		4,952		5,335		5,725
Income tax receivable		-		-		1,807
Non-hedge derivative asset		166		-		-
Premises and equipment, net		18,986		20,833		21,283
Other real estate		3,448		2,654		1,693
Goodwill		1,214		1,214		1,214
Other intangible assets, net		3,866		4,980		5,022
Other assets		31,135		38,129		41,794
Total assets	$	1,900,948	$	1,981,423	$	1,972,367
Liabilities
Deposits:
Noninterest-bearing demand	$	445,148	$	444,796	$	436,904
Interest-bearing demand		104,807		120,156		106,176
Money market accounts		477,614		439,981		423,720
Savings accounts		33,398		41,727		39,727
Time deposits of $100,000 or more		203,090		251,185		270,916
Other time deposits		230,889		286,241		306,348
Total deposits		1,494,946		1,584,086		1,583,791
Accrued interest payable		771		832		840
Non-hedge derivative liability		166		-		-
Other liabilities		10,822		10,293		9,878
Other borrowings		75,884		80,632		78,663
Subordinated debentures		46,393		46,393		46,393
Total liabilities		1,628,982		1,722,236		1,719,565
Shareholders' equity
Common stock - $1 par value; 40,000,000 shares authorized;
19,793,623 shares issued and 19,732,926 and 19,703,313 shares issued and outstanding, respectively		19,794		19,733		19,703
Additional paid-in capital		100,971		99,937		99,488
Retained earnings		155,290		142,528		135,696
Accumulated other comprehensive loss		(411)		(3,011)		(2,085)
Treasury stock, at cost, 223,005, 0, and 0 shares, respectively		(3,678)		-		-
Total shareholders' equity		271,966		259,187		252,802
Total liabilities and shareholders' equity	$	1,900,948	$	1,981,423	$	1,972,367

SOUTHWEST BANCORP, INC.
UNAUDITED CONSOLIDATED STATEMENTS OFOPERATIONS
(Dollars in thousands) Table 3

	For the three months ended						For the nine months
	September 30,			June 30,	September 30,		ended September 30,
	2014		2014		2013		2014		2013
Interest income
Loans	$	15,683	$	16,343	$	16,242	$	47,801	$	49,663
Investment securities		1,534		1,628		1,623		4,812		4,908
Other interest-earning assets		274		314		270		963		765
Total interest income		17,491		18,285		18,135		53,576		55,336
Interest expense
Interest-bearing deposits		864		931		1,317		2,820		4,411
Other borrowings		227		223		225		675		667
Subordinated debentures		563		557		1,320		1,669		4,245
Total interest expense		1,654		1,711		2,862		5,164		9,323
Net interest income		15,837		16,574		15,273		48,412		46,013
Provision for loan losses		(2,897)		(355)		(329)		(4,238)		(707)
Net interest income after provision for loan losses		18,734		16,929		15,602		52,650		46,720
Noninterest income
Service charges and fees		2,492		2,608		2,589		7,696		7,856
Gain on sale of branches, net		-		4,378		-		4,378		-
Gain on sales of mortgage loans		382		463		619		1,069		2,264
Gain on sale/call of investment securities, net		-		629		-		764		-
Other noninterest income		210		168		339		448		455
Total noninterest income		3,084		8,246		3,547		14,355		10,575
Noninterest expense
Salaries and employee benefits		7,804		8,472		7,645		24,402		23,820
Occupancy		2,612		2,783		2,721		8,164		7,974
FDIC and other insurance		299		314		413		1,010		1,304
Other real estate, net		(220)		511		(387)		359		(1,428)
General and administrative		2,863		3,252		2,627		8,862		8,576
Total noninterest expense		13,358		15,332		13,019		42,797		40,246
Income before taxes		8,460		9,843		6,130		24,208		17,049
Taxes on income		3,172		3,691		2,330		9,077		6,446
Net income	$	5,288	$	6,152	$	3,800	$	15,131	$	10,603
Basic earnings per common share	$	0.27	$	0.31	$	0.19	$	0.77	$	0.53
Diluted earnings per common share		0.27		0.31		0.19		0.77		0.54
Common dividends declared per share		0.04		0.04		-		0.12		-

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

	For the three months ended
	September 30, 2014			June 30, 2014			September 30, 2013
	Average		Average	Average		Average	Average		Average
	Balance		Yield/Rate	Balance		Yield/Rate	Balance		Yield/Rate
Assets
Loans	$	1,356,729	4.59%	$	1,331,126	4.92%	$	1,298,018	4.96%
Investment securities		378,924	1.61		384,395	1.70		364,746	1.76
Other interest-earning assets		88,653	1.23		183,378	0.69		287,968	0.37
Total interest-earning assets		1,824,306	3.80		1,898,899	3.86		1,950,732	3.69
Other assets		43,339			49,829			57,622
Total assets	$	1,867,645		$	1,948,728		$	2,008,354
Liabilities and Shareholders' Equity
Interest-bearing demand deposits	$	109,245	0.12%	$	130,232	0.12%	$	117,124	0.12%
Money market accounts		437,632	0.14		421,001	0.13		416,839	0.17
Savings accounts		32,076	0.10		43,124	0.10		38,992	0.10
Time deposits		440,317	0.60		493,805	0.60		600,321	0.72
Total interest-bearing deposits		1,019,270	0.34		1,088,162	0.34		1,173,276	0.45
Other borrowings		85,423	1.05		85,682	1.04		75,822	1.18
Subordinated debentures		46,393	4.85		46,393	4.80		75,004	7.04
Total interest-bearing liabilities		1,151,086	0.57		1,220,237	0.56		1,324,102	0.86
Noninterest-bearing demand deposits		432,255			449,364			422,203
Other liabilities		11,442			10,751			10,319
Shareholders' equity		272,862			268,376			251,730
Total liabilities and shareholders' equity	$	1,867,645		$	1,948,728		$	2,008,354
Net interest income and spread			3.23%			3.30%			2.83%
Net interest margin (1)			3.44%			3.50%			3.11%
Average interest-earning assets
to average interest-bearing liabilities		158.49%			155.62%			147.32%
(1) Net interest margin = annualized net interest income / average interest-earning assets

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

	For the nine months ended September 30,
	2014			2013
	Average		Average	Average		Average
	Balance		Yield/Rate	Balance		Yield/Rate
Assets
Loans	$	1,322,351	4.83%	$	1,323,938	5.02%
Investment securities		383,950	1.68		373,150	1.76
Other interest-earning assets		183,416	0.70		279,549	0.37
Total interest-earning assets		1,889,717	3.79		1,976,637	3.74
Other assets		47,780			69,423
Total assets	$	1,937,497		$	2,046,060
Liabilities and Shareholders' Equity
Interest-bearing demand deposits	$	124,652	0.12%	$	125,598	0.12%
Money market accounts		431,802	0.14		418,973	0.19
Savings accounts		39,941	0.10		38,850	0.12
Time deposits		488,066	0.61		638,739	0.76
Total interest-bearing deposits		1,084,461	0.35		1,222,160	0.48
Other borrowings		83,987	1.07		72,491	1.23
Subordinated debentures		46,393	4.80		79,618	7.11
Total interest-bearing liabilities		1,214,841	0.57		1,374,269	0.91
Noninterest-bearing demand deposits		443,520			409,393
Other liabilities		10,898			11,047
Shareholders' equity		268,238			251,351
Total liabilities and shareholders' equity	$	1,937,497		$	2,046,060
Net interest income and spread			3.22%			2.83%
Net interest margin (1)			3.43%			3.11%
Average interest-earning assets
to average interest-bearing liabilities		155.55%			143.83%
(1) Net interest margin = annualized net interest income / average interest-earning assets

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

			2014				2013
		Sep. 30		Jun. 30	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
LOAN COMPOSITION
Real estate mortgage:
Commercial	$	757,878	$	769,021	$	766,178	$	752,279	$	757,435	$	802,138	$	836,843
One-to-four family residential		78,985		79,542		84,619		83,988		84,645		81,698		78,369
Real estate construction:
Commercial		166,379		166,981		166,007		143,848		163,307		159,227		139,829
One-to-four family residential		11,030		8,359		6,629		4,646		4,464		5,241		5,015
Commercial		330,738		300,163		266,311		255,058		264,565		237,221		233,939
Installment and consumer:
Guaranteed student loans		127		4,282		4,318		4,394		4,471		4,520		4,576
Other		22,251		23,352		26,060		26,690		27,738		28,044		28,644
Total loans, including held for sale		1,367,388		1,351,700		1,320,122		1,270,903		1,306,625		1,318,089		1,327,215
Less allowance for loan losses		(30,917)		(33,083)		(34,925)		(36,663)		(40,081)		(40,352)		(42,853)
Total loans, net	$	1,336,471	$	1,318,617	$	1,285,197	$	1,234,240	$	1,266,544	$	1,277,737	$	1,284,362
LOANS BY SEGMENT
Oklahoma banking	$	777,037	$	773,665	$	754,698	$	681,999	$	681,749	$	656,356	$	628,747
Texas banking		424,640		408,385		372,018		366,697		414,433		444,327		495,815
Kansas banking		142,547		145,248		170,720		198,992		206,802		210,189		195,355
Subtotal		1,344,224		1,327,298		1,297,436		1,247,688		1,302,984		1,310,872		1,319,917
Mortgage banking		23,164		24,402		22,686		23,215		3,641		7,217		7,298
Total loans	$	1,367,388	$	1,351,700	$	1,320,122	$	1,270,903	$	1,306,625	$	1,318,089	$	1,327,215
NONPERFORMING LOANS BY TYPE
Construction & development	$	77	$	82	$	80	$	2,721	$	5,789	$	6,119	$	6,539
Commercial real estate		7,504		7,613		7,541		7,766		15,378		15,112		15,975
Commercial		6,149		7,484		7,992		8,819		10,991		10,790		11,940
One-to-four family residential		1,274		1,180		470		513		467		492		701
Consumer		55		119		2		53		55		64		74
Total nonperforming loans	$	15,059	$	16,478	$	16,085	$	19,872	$	32,680	$	32,577	$	35,229
NONPERFORMING LOANS BY SEGMENT
Oklahoma banking	$	6,410	$	7,149	$	7,056	$	5,547	$	3,279	$	1,678	$	2,000
Texas banking		5,777		5,636		5,793		11,902		24,963		26,294		28,817
Kansas banking		2,872		3,693		3,236		2,423		4,438		4,605		4,412
Total nonperforming loans	$	15,059	$	16,478	$	16,085	$	19,872	$	32,680	$	32,577	$	35,229
OTHER REAL ESTATE BY TYPE
Construction & development	$	2,130	$	2,130	$	2,130	$	130	$	1,333	$	972	$	1,389
Commercial real estate		1,318		2,155		2,524		2,524		360		839		10,276
Total other real estate	$	3,448	$	4,285	$	4,654	$	2,654	$	1,693	$	1,811	$	11,665
OTHER REAL ESTATE BY SEGMENT
Oklahoma banking	$	-	$	-	$	-	$	-	$	-	$	-	$	1,980
Texas banking		2,000		2,000		2,000		-		-		-		7,227
Kansas banking		1,448		2,285		2,654		2,654		1,693		1,811		2,458
Total other real estate	$	3,448	$	4,285	$	4,654	$	2,654	$	1,693	$	1,811	$	11,665
Continued

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

			2014					2013
		Sep. 30		Jun. 30	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
POTENTIAL PROBLEM LOANS BY TYPE
Construction & development	$	19,307	$	18,842	$	22,220	$	21,501		22,222	$	20,745	$	19,968
Commercial real estate		40,623		60,559		64,257		70,654		64,505		65,518		64,287
Commercial		4,090		4,299		4,807		7,107		10,028		10,136		8,220
One-to-four family residential		355		475		481		488		414		1,071		1,157
Total potential problem loans	$	64,375	$	84,175	$	91,765	$	99,750	$	97,169	$	97,470	$	93,632
POTENTIAL PROBLEM LOANS BY SEGMENT
Oklahoma banking	$	23,895	$	23,887	$	29,208	$	29,005	$	31,345	$	31,495	$	32,246
Texas banking		38,586		57,044		58,361		65,079		59,561		58,710		51,978
Kansas banking		1,894		3,244		4,196		5,666		6,263		7,265		9,408
Total potential problem loans	$	64,375	$	84,175	$	91,765	$	99,750	$	97,169	$	97,470	$	93,632
LOANS OUT OF MARKET
Net balance of loans out of market:
Arizona	$	14,397	$	14,984	$	15,348	$	19,458	$	30,516	$	31,564	$	33,017
Kentucky		14,648		14,273		13,415		12,404		10,088		11,860		10,144
North Carolina		13,711		13,323		13,494		13,070		10,161		300		407
Colorado		14,048		13,269		13,705		12,553		12,358		8,586		3,067
Iowa		11,369		11,501		22,178		22,316		22,438		22,537		22,659
California		9,000		9,527		8,869		9,154		9,472		9,632		10,866
Mississippi		8,474		8,582		8,712		8,823		8,929		9,233		9,170
Montana		6,434		6,722		471		514		519		566		570
Tennessee		7,005		6,555		6,684		6,048		6,136		6,171		6,246
Ohio		132		4,142		3,862		3,549		3,294		4,759		4,132
Other		9,894		10,011		9,452		14,766		27,342		30,100		27,759
Total loans out of market	$	109,112	$	112,889	$	116,190	$	122,655	$	141,253	$	135,308	$	128,037
Nonperforming loans out of market:
Arizona	$	5,174	$	5,381	$	5,441	$	9,302	$	11,205	$	12,167	$	13,419
New Jersey		66		594		1,094		-		-		-		-
New York		-		-		-		-		1,033		1,048		-
Florida		235		240		246		252		258		264		270
Colorado		-		-		-		-		-		-		131
Other		112		-		-		-		-		1		-
Total nonperforming out of market	$	5,587	$	6,215	$	6,781	$	9,554	$	12,496	$	13,480	$	13,820
Potential problem loans out of market:
Iowa	$	11,336	$	11,414	$	11,490	$	11,568	$	11,645	$	11,719	$	11,792
Arizona		1,138		1,152		1,167		-		-		-		-
California		-		461		474		482		499		512		524
Florida		53		58		62		66		71		75		80
New Jersey		-		-		-		1,094		1,170		1,244		-
Total potential problem loans out of market	$	12,527	$	13,085	$	13,193	$	13,210	$	13,385	$	13,550	$	12,396
Continued

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

			2014				2013
		Sep. 30		Jun. 30	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
ALLOWANCE ACTIVITY
Balance, beginning of period	$	33,083	$	34,925	$	36,663	$	40,081	$	40,352	$	42,853	$	46,718
Charge offs		1,156		1,991		3,392		2,681		600		2,072		4,651
Recoveries		1,887		504		2,640		5,765		658		447		288
Net charge offs (recoveries)		(731)		1,487		752		(3,084)		(58)		1,625		4,363
Provision for loan losses		(2,897)		(355)		(986)		(6,502)		(329)		(876)		498
Balance, end of period	$	30,917	$	33,083	$	34,925	$	36,663	$	40,081	$	40,352	$	42,853
NET CHARGE OFFS BY TYPE
Construction & development	$	-	$	-	$	655	$	(4,845)		(20)	$	111	$	(19)
Commercial real estate		(640)		583		(2,243)		(62)		274		7		416
Commercial		22		652		2,267		1,883		(169)		1,085		3,751
One-to-four family residential		11		(2)		(18)		(40)		(165)		363		167
Consumer		(124)		254		91		(20)		22		59		48
Total net charge offs (recoveries) by type	$	(731)	$	1,487	$	752	$	(3,084)	$	(58)	$	1,625	$	4,363
NET CHARGE OFFS BY SEGMENT
Oklahoma banking	$	67	$	763	$	229	$	(1,294)	$	(203)	$	200	$	589
Texas banking		(611)		244		(1,586)		(2,314)		(80)		1,356		3,241
Kansas banking		(187)		480		2,109		524		225		69		533
Total net charge offs (recoveries) by segment	$	(731)	$	1,487	$	752	$	(3,084)	$	(58)	$	1,625	$	4,363

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUMMARY FINANCIAL DATA
(Dollars in thousands, except per share) Table 7

			2014				2013
		Sep. 30		Jun. 30	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
PER SHARE DATA
Basic earnings per common share	$	0.27	$	0.31	$	0.19	$	0.35	$	0.19	$	0.22	$	0.12
Diluted earnings per common share		0.27		0.31		0.19		0.35		0.19		0.22		0.12
Common dividends declared per share		0.04		0.04		0.04		-		-		-		-
Book value per common share		13.90		13.71		13.37		13.13		12.83		12.67		12.72
Tangible book value per share*		13.83		13.65		13.31		13.07		12.77		12.60		12.66
COMMON STOCK
Shares issued		19,793,623		19,793,123		19,786,206		19,732,926		19,703,313		19,692,606		19,692,038
Less treasury shares		223,005		-		-		-		-		-		-
Outstanding shares		19,570,618		19,793,123		19,786,206		19,732,926		19,703,313		19,692,606		19,692,038
OTHER FINANCIAL DATA
Investment securities	$	370,607	$	385,873	$	386,987	$	394,199	$	382,001	$	372,403	$	365,605
Loans held for sale		4,368		6,803		5,741		3,060		3,641		7,217		7,297
Portfolio loans		1,363,020		1,344,897		1,314,381		1,267,843		1,302,984		1,310,872		1,319,918
Total loans		1,367,388		1,351,700		1,320,122		1,270,903		1,306,625		1,318,089		1,327,215
Total assets		1,900,948		1,885,158		2,012,053		1,981,423		1,972,367		2,031,962		2,091,694
Total deposits		1,494,946		1,463,855		1,605,906		1,584,086		1,583,791		1,615,961		1,677,668
Other borrowings		75,884		90,760		85,692		80,632		78,663		74,334		70,872
Subordinated debentures		46,393		46,393		46,393		46,393		46,393		81,963		81,963
Total shareholders' equity		271,966		271,351		264,586		259,187		252,802		249,420		250,509
Mortgage servicing portfolio		401,756		397,339		391,303		390,732		383,400		368,825		356,032
INTANGIBLE ASSET DATA
Goodwill	$	1,214	$	1,214	$	1,214	$	1,214	$	1,214	$	1,214	$	1,214
Core deposit intangible		597		667		1,925		2,058		2,185		2,306		2,424
Mortgage servicing rights		3,269		3,182		3,006		2,922		2,837		2,675		2,445
Total intangible assets	$	5,080	$	5,063	$	6,145	$	6,194	$	6,236	$	6,195	$	6,083
Intangible amortization expense	$	195	$	210	$	183	$	278	$	314	$	313	$	410
DEPOSIT COMPOSITION
Non-interest bearing demand	$	445,148	$	427,431	$	471,568	$	444,796	$	436,904	$	412,176	$	416,979
Interest-bearing demand		104,807		124,712		132,622		120,156		106,176		138,502		125,914
Money market accounts		477,614		430,296		440,875		439,981		423,720		408,145		437,629
Savings accounts		33,398		31,187		47,532		41,727		39,727		38,611		39,733
Time deposits of $100,000 or more		203,090		209,059		236,035		251,185		270,916		295,179		317,270
Other time deposits		230,889		241,170		277,274		286,241		306,348		323,348		340,143
Total deposits**	$	1,494,946	$	1,463,855	$	1,605,906	$	1,584,086	$	1,583,791	$	1,615,961	$	1,677,668
OFFICES AND EMPLOYEES
FTE Employees		351		364		397		402		407		408		412
Branches		21		21		24		23		23		22		22
Assets per employee	$	5,416	$	5,179	$	5,068	$	4,929	$	4,846	$	4,980	$	5,077
____________________
*This is a Non-GAAP based financial measure.
**Calculation of Non-brokered Deposits and Core Funding (Non-GAAP Financial Measures)
Total deposits	$	1,494,946	$	1,463,855	$	1,605,906	$	1,584,086	$	1,583,791	$	1,615,961	$	1,677,668
Less:
Brokered time deposits		2,952		1,348		1,347		1,347		1,343		4,904		5,760
Other brokered deposits		98,425		48,424		3,424		3,423		3,423		3,422		3,422
Non-brokered deposits	$	1,393,569	$	1,414,083	$	1,601,135	$	1,579,316	$	1,579,025	$	1,607,635	$	1,668,486
Plus:
Sweep repurchase agreements		50,884		65,760		60,692		55,631		53,663		49,334		45,872
Core funding	$	1,444,453	$	1,479,843	$	1,661,827	$	1,634,947	$	1,632,688	$	1,656,969	$	1,714,358
Balance sheet amounts are as of period end unless otherwise noted.

SOUTHWEST BANCORP, INC.
UNAUDITED QUARTERLY SUPPLEMENTAL ANALYTICAL DATA
(Dollars in thousands) Table 8

			2014				2013
		Sep. 30		Jun. 30	Mar. 31		Dec. 31		Sep. 30		Jun. 30		Mar. 31
PERFORMANCE RATIOS
Return on average assets (annualized)		1.12%		1.27%		0.75%		1.37%		0.75%		0.87%		0.46%
Return on average common equity (annualized)		7.69		9.19		5.68		10.59		5.99		7.00		3.89
Return on average tangible common equity
(annualized)*		7.72		9.24		5.71		10.64		6.02		7.03		3.90
Net interest margin (annualized)		3.44		3.50		3.33		3.42		3.11		3.07		3.16
Total dividends declared to net income		14.88		12.86		21.40		-		-		-		-
Effective tax rate		37.49		37.50		37.49		38.68		38.01		33.74		43.88
Efficiency ratio		70.60		61.77		74.15		76.45		69.18		68.93		75.16
NONPERFORMING ASSETS
Nonaccrual loans	$	15,059	$	16,478	$	16,085	$	19,819	$	32,678	$	32,575	$	35,229
90 days past due and accruing		-		-		-		53		2		2		-
Total nonperforming loans		15,059		16,478		16,085		19,872		32,680		32,577		35,229
Other real estate		3,448		4,285		4,654		2,654		1,693		1,811		11,665
Total nonperforming assets	$	18,507	$	20,763	$	20,739	$	22,526	$	34,373	$	34,388	$	46,894
Potential problem loans	$	64,375	$	84,175	$	91,765	$	99,750	$	97,169	$	97,470	$	93,632
ASSET QUALITY RATIOS
Nonperforming assets to portfolio loans and
other real estate		1.36%		1.54%		1.57%		1.77%		2.63%		2.62%		3.52%
Nonperforming loans to portfolio loans		1.10		1.23		1.22		1.57		2.51		2.49		2.67
Allowance for loan losses to portfolio loans		2.27		2.46		2.66		2.89		3.08		3.08		3.24
Allowance for loan losses to
nonperforming loans		205.29		200.77		217.13		184.50		122.65		123.87		121.64
Net loan charge-offs to average portfolio
loans (annualized)		(0.21)%		0.45		0.24		(0.96)		(0.02)		0.50		1.32
CAPITAL RATIOS
Average total shareholders' equity to
average assets		14.61%		13.77%		13.18%		12.93%		12.53%		12.41%		11.92%
Leverage ratio		16.86		15.95		15.09		14.86		14.78		16.10		15.59
Tier 1 capital to risk-weighted assets		20.05		20.13		19.98		20.28		20.21		22.48		22.25
Total capital to risk-weighted assets		21.34		21.43		21.29		21.59		21.52		23.78		23.54
Tangible common equity to tangible assets***		14.25		14.34		13.10		13.03		12.76		12.22		11.93
REGULATORY CAPITAL DATA
Tier I capital	$	314,120	$	309,600	$	299,938	$	292,051	$	296,488	$	326,831	$	324,659
Total capital		334,456		329,586		319,516		310,867		315,570		345,717		343,562
Total risk adjusted assets		1,566,996		1,537,903		1,500,957		1,439,934		1,466,672		1,453,878		1,459,465
Average total assets		1,863,127		1,941,064		1,987,231		1,964,920		2,006,525		2,030,064		2,082,789
____________________
*This is a Non-GAAP based financial measure.
***Calculation of Tangible Common Equity to Tangible Assets (Non-GAAP Financial Measure)
Total shareholders' equity	$	271,966	$	271,351	$	264,586	$	259,187	$	252,802	$	249,420	$	250,509
Less goodwill		1,214		1,214		1,214		1,214		1,214		1,214		1,214
Tangible common equity	$	270,752	$	270,137	$	263,372	$	257,973	$	251,588	$	248,206	$	249,295
Total assets	$	1,900,948	$	1,885,158	$	2,012,053	$	1,981,423	$	1,972,367	$	2,031,962	$	2,091,694
Less goodwill		1,214		1,214		1,214		1,214		1,214		1,214		1,214
Tangible assets	$	1,899,734	$	1,883,944	$	2,010,839	$	1,980,209	$	1,971,153	$	2,030,748	$	2,090,480
Total shareholders' equity to total assets		14.31%		14.39%		13.15%		13.08%		12.82%		12.27%		11.98%
Tangible common equity to tangible assets		14.25%		14.34%		13.10%		13.03%		12.76%		12.22%		11.93%
Balance sheet amounts and ratios are as of period end unless otherwise noted.