Southwest Bancorp gains 17% on Q2 earnings in line with analyst estimates

Financial holding company Southwest Bancorp Inc. (Nasdaq:OKSB) is up 17% today after announcing ahead of the opening its second-quarter earnings were in line with analyst estimates. For the quarter ended June 30, net income was $4.2 million, or $0.28 per share, compared with $6.8 million, or $0.47 a share, for the same quarter a year ago. Wall Street was expecting earnings per share of $0.28. The Stillwater, Okla.-based company said its loan portfolio grew $236.3 million, an increase of about 11%.

"Our strategic vision includes growth from existing and additional offices in Oklahoma and in carefully selected markets in Texas and other states with emphasis on healthcare and health professionals, businesses and their managers and owners, commercial and commercial real estate borrowers, careful expansion of our community banking operations, and increases in stable funding sources at reasonable cost,” said Rick Green, president and CEO, in a statement.

In today’s trading, shares of Southwest Bancorp are at $13.14, up $1.89 from Friday’s close.

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