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.
“I feel good about the progress we are making and I like our momentum,” Shockley said.
Investors in Oklahoma City-based BancFirst Corp. saw total returns of more than 14 percent over the past year earnings per share rose 4 percent over 2012.
“In a public company there are some things you can control, but in the short run, the market is not one of them,” BancFirst CEO David Rainbolt said.
“In 2012, BancFirst was able to increase earnings per share by over 14 percent, grow loans, and improve asset quality. We know that when we achieve similar results over the long-term, our shareholders do well.”
Tulsa-based BOK Financial Corp, the parent company of Bank of Oklahoma, increased earnings per share by 1.2 percent in 2013. Total returns grew by 14.9 percent.
BOK saw strong earnings growth over the past year, despite continuing challenging economic conditions, said Steve Bradshaw, BOK president and CEO elect.
“BOK Financial produced record earnings in 2012 with our highest earning quarter in company history in the second quarter,” Bradshaw said. “Earnings have continued to be strong in the first two quarters of 2013. Our mix of fee-based business and traditional banking services has created very stable earnings for the company during the recent recession.”