Longtime Bank of Oklahoma executive Mark Funke next month will become president and CEO of Southwest Bancorp Inc., parent of Stillwater National Bank, the company said Wednesday.
Funke, 56, has served as president of the Oklahoma City market for Bank of Oklahoma since 1997, and has worked for the Tulsa-based company for 28 years.
“I'm just really excited about this,” Funke said. “This is a great opportunity for me and I am excited to work with that team and I am excited about the bank's prospects in the future.”
Funke on Oct. 1 will succeed Rick Green, who announced earlier this year that would step down at year's end. Green will take the title of president emeritus at that time and will serve as a transition consultant until Jan. 31, 2013, the company said in a statement.
Southwest Bancorp has steadied its financial situation over the past year, selling off part of its troubled loan portfolio while writing down problem assets. The company's stock rebounded after federal regulators released the bank from a formal operating agreement, and the business last month repaid $70 million it owed the U.S. Treasury from the Capital Purchase Program established after the 2008 financial crisis.
“They've been through difficult times after the recession, but they righted the ship and got things going in the right direction,” Funke said. “They certainly demonstrated an ability to capitalize the bank properly. I think they have put the bank on a very solid footing that will allow it to grow in the future.”