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Oklahoma Inc.: Banking companies take different tracks during the year

Winners and losers among the three publicly banking companies in Oklahoma.
by Don Mecoy Published: November 11, 2012
/articleid/3724132/1/pictures/1871356">Photo - An aerial view photo of downtown Tulsa's skyline on Oct. 18, 2007 with the new city hall and the BOK tower. TOM GILBERT/TULSA WORLD
An aerial view photo of downtown Tulsa's skyline on Oct. 18, 2007 with the new city hall and the BOK tower. TOM GILBERT/TULSA WORLD

Southwest Bancorp had the most active year, selling off part of its troubled loan portfolio while writing down millions of dollars of problem assets in December. The company's stock rebounded after federal regulators released the bank from a formal operating agreement, and the business also resumed paying dividends and repaid $70 million it owed the U.S. Treasury from the Capital Purchase Program established after the 2008 financial crisis.

While the company's stock — and apparently its fortunes — have improved, the Oklahoma Inc. rankings place Southwest Bancorp well behind the other banking companies, and nearly all of the state's publicly traded firms. Southwest was dead last in earnings growth in the S&P Capital IQ ranking among all Oklahoma Inc. companies.

Most recently, the company hired Mark Funke away from Bank of Oklahoma to serve as its new chief executive officer. Funke said the bank, which reported a profit in its most recent quarter, is well positioned for future growth.

“There have been very many positive changes at this company in the last 12 months, with repayment of TARP money, starting the dividend process back up again and positioning ourselves from a credit quality standpoint so that the bank doesn't need to be focused entirely on fixing problems going into 2013,” Funke said.

Funke said analysts and shareholders generally have reacted positively to the changes.

“I'm positive about our earnings potential and revenue growth in 2013,” he said.

by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
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