Oklahoma's banking sector has shown strong performance over the past year with all three of the state's publicly traded banking companies posting double-digit total returns.
The state's top-performing company for the year in the banking sector, Southwest Bancorp, the parent company of Stillwater National Bank, is in the process of rebuilding after leadership changes. It also sold off a troubled portfolio of real estate and nonperforming loans in 2011.
Southwest investors saw total returns of 40.3 percent over the past year including dividends, while earnings per share rose more than 118 percent over the past year.
Mark Funke, who took over as president and CEO of Southwest in October 2012, said in a recent conference call that the company is still in the process of rebuilding and restructuring.
In October, the company announced that it would consolidate its Stillwater National Bank and Trust Co. and Bank of Kansas brands under the same charter and operate both under the name Bank SNB beginning Nov. 16. The change will affect all of the banking companies branches in Oklahoma, Kansas and Texas.
“Everything that we are doing will help develop and drive a culture that produces consistent and stable earnings,” Funke said.
Southwest Bancorp CFO Joe Shockley, who took charge of the company's balance sheet in December, said during a conference call that the company's financials were continuing to show improvement in 2013.
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