Newspaper article THE JOURNAL RECORD

Southwest Bancorp's Earnings Fall Slightly

Newspaper article THE JOURNAL RECORD

Southwest Bancorp's Earnings Fall Slightly

Article excerpt

STILLWATER (JR) -- Southwest Bancorp on Wednesday reported net income of $2.41 million for the second quarter.

The parent company of Stillwater National Bank and Trust had net income of $2.45 million for the second quarter of 1999.

Net income for the first six months of 2000 totaled $4.86 million, of $1.25 diluted per share, up 6.5 percent from $4.56 million, $1.13 per diluted share, for the first six months of 1999.

In the first half of 2000, increases in net interest income of $1 million and other income of $88,000 and a reduction in taxes on income were partially offset by increases in the provision for loan loss of $700,000 and other expenses of $140,000.

For the first six months of 2000, average assets were $1.16 billion, up 12.3 percent from the first half of 1999. At June 30, total assets were $1.19 billion, up 5.8 percent from the end of 1999 and up 16.2 percent from a year earlier.

Return on shareholders' equity for the first half was 14.79 percent on an annualized basis, up slightly from the first half of last year. …

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