With just three members, Oklahoma's publicly traded banking sector is an exclusive group.
Those three companies are among the largest banks in the state.
Oklahoma City-based BancFirst Corp is the parent of BancFirst, the largest state-chartered bank in Oklahoma. Tulsa-based BOK Financial Corp. is the parent company of Bank of Oklahoma, the state's largest bank. The largest subsidiary of Southwest Bancorp is Stillwater National Bank, also among the top 10 largest banks in the Sooner State.
But each has a distinct business model.
“It's almost like they're not in the same industry,” said Gary Simpson, Oklahoma State University finance professor and Oklahoma Bankers Association chair of banking. “Their strategy is so different, and their performance is different.”
BancFirst, which earned the highest Oklahoma Inc. ranking among the three, conducts all of its banking operations within Oklahoma. The company added to its statewide reach with three bank acquisitions in 2010, and closed a fourth in July. It has bought five banks in the past year and a half.
BancFirst operates more branches in more Oklahoma communities than any of its competitors.
The company's strongest category in the Oklahoma Inc. rankings reflected its nearly 10 percent growth in earnings.
BOK Financial is a regional financial power, operating banks in eight states. Its majority shareholder, George Kaiser, is Oklahoma's wealthiest resident.
BOK Financial was the largest commercial bank in the country that rejected federal funds in the wake of the 2008 financial collapse. Despite its broad footprint, much of BOK Financial's strength comes from its Oklahoma roots.
Chief Financial Officer Steven Nell said much of the company's recent loan growth and deposit growth was based in Oklahoma and Texas.
“I think it bodes pretty well for the state,” Nell said.
In the Oklahoma Inc. rankings, BancFirst ranked 18th and BOK Financial was 22nd, precisely the reverse of where the companies finished last year.
Southwest Bancorp experienced a big dip in its rankings that reflected investor sentiment of the company's stock. The company finished dead last in the Oklahoma Inc. rankings in terms of its return to shareholders, who took a 74 percent loss in the July 2010 through June 2011 period.
The stock has continued to swoon as Southwest Bancorp works out troubled loans, most of which were made outside Oklahoma.
CEO and President Rick Green said the company has added staff and boosted its credit analysis as it works through its problem loans.
“However, we are not satisfied with the pace of our resolution of problem and potential problem assets,” Green said. “Accordingly, we have undertaken a disciplined analysis of all alternatives available to accelerate the resolution process in the near-term.”