Oklahoma Inc.: Banking companies take different tracks during the year
Winners and losers among the three publicly banking companies in Oklahoma.
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.