Southwest Bancorp Reports Kansas Acquisition
2009年6月20日 - 9:16AM
PRニュース・ワイアー (英語)
STILLWATER, Okla., June 19 /PRNewswire-FirstCall/ -- Southwest
Bancorp, Inc. (NASDAQ:OKSBNASDAQ:OKSBP), ("Southwest"), tonight
announced that Bank of Kansas ("SNB Kansas") had entered into a
purchase and assumption agreement with the Federal Deposit
Insurance Corporation ("FDIC") to acquire deposits, loans, and
other liabilities and assets of First National Bank of Anthony in
Anthony, Kansas ("FNBA") in an FDIC-assisted transaction. SNB
Kansas is a wholly owned, full service commercial banking
subsidiary of Southwest headquartered in the Hutchinson, Kansas
market. (Logo:
http://www.newscom.com/cgi-bin/prnh/20011127/SOUTHWESTLOGO) All
branches of FNBA will reopen as offices of SNB Kansas. FNBA
depositors will automatically become depositors of SNB Kansas and
deposits will continue to be insured by the FDIC without
interruption. We believe this transaction will significantly
enhance our Kansas operations. It is consistent with our
established strategy of careful community banking expansion, and
follows our acquisition of SNB Kansas in 2007 and the merger of SNB
Bank of Wichita, Southwest's Kansas thrift subsidiary, into SNB
Kansas earlier this year. The six new SNB Kansas branches are in
Anthony, Harper, Mayfield, Overland Park, Olathe, and Wichita,
Kansas, and complement existing SNB Kansas branches in Hutchinson,
South Hutchinson, and Wichita. At March 31, 2009, our consolidated
Kansas banking operations accounted for approximately $160 million
in deposits and $310 million in loans. Based upon March 31, 2009
information, we estimate that SNB Kansas will acquire an additional
$140 million in deposits and $125 million in loans (at book value)
in the transaction. SNB Kansas also will receive a cash payment
from the FDIC, which will be calculated and paid on Monday, June
22nd. Determination of the final amounts acquired and their values
for financial statement purposes will be made after further
analysis. SNB Kansas and the FDIC also have entered loss sharing
agreements that provide SNB Kansas with significant protection
against credit losses from loans and related assets acquired from
FNBA. Under these agreements, the FDIC will reimburse SNB Kansas
for 80% of losses on covered assets, primarily acquired loans and
other real estate, of up to $35 million, and for 95% of any losses
above $35 million. SNB Kansas will service the covered assets.
Southwest Bancorp and Subsidiaries Southwest Bancorp is the
financial holding company for Stillwater National Bank and Trust
Company, Bank of Kansas, Healthcare Strategic Support, Inc., and
Business Consulting Group, Inc. Through its subsidiaries, Southwest
offers commercial and consumer lending, deposit, and investment
services, and specialized cash management, consulting, and other
financial services from offices in Oklahoma City, Edmond,
Stillwater, Tulsa, and Chickasha, Oklahoma; Austin, Dallas,
Houston, San Antonio, and Tilden, Texas; and Anthony, Harper,
Mayfield, Overland Park, Olathe Hutchinson, South Hutchinson, and
Wichita, Kansas, and on the Internet, through SNB DirectBanker(R).
Southwest focuses on converting its strategic vision into long-term
shareholder value. Our vision includes an established niche banking
model focused on healthcare and commercial real estate financial
services and a community banking model focused on more traditional
banking operations in Texas, Oklahoma, and Kansas. Southwest's
strategic growth goals include prudent growth from existing and
additional offices in carefully selected markets with
concentrations of healthcare and health professionals, businesses,
and their managers and owners, and commercial and commercial real
estate borrowers, and careful expansion of community banking
operations. We plan to reduce the percentage of commercial real
estate loans to total portfolio loans in view of current economic
conditions. Our plan focuses on reductions in particular
subcategories of commercial real estate loans that are identified
in our regular real estate market reviews. In general, and with
some exceptions regarding locations and particular types of
facilities, we do not intend to decrease healthcare related
commercial or mortgage lending or commercial mortgage lending on
owner-occupied properties that otherwise meet our underwriting
criteria. Southwest's common stock is traded on the NASDAQ Global
Select Market under the symbol OKSB. Southwest's trust preferred
securities are traded on the NASDAQ Global Select Market under the
symbol OKSBP. Forward-Looking Statements This Press Release
includes forward-looking statements that are subject to risks and
uncertainties. These forward-looking statements include: statements
of Southwest's goals, intentions, and expectations; estimates of
risks and of future costs and benefits; expectations regarding
future financial performance of Southwest and its operating
segments; assessments of loan quality, probable loan losses, and
the amount and timing of loan payoffs; liquidity, contractual
obligations, off-balance sheet risk and market risk or interest
rate risk; estimates of the book value and fair value of acquired
assets and liabilities, and statements of Southwest's ability to
achieve financial and other goals. These forward-looking statements
are subject to significant uncertainties because they are based
upon: the amount and time of future changes in interest rates,
market behavior, and other economic conditions; future laws and
regulations and accounting principles; and a variety of other
matters. Because of these uncertainties, the actual future results
may be materially different from the results indicated by these
forward-looking statements. In addition, Southwest's past growth
and performance do not necessarily indicate its future results.
http://www.newscom.com/cgi-bin/prnh/20011127/SOUTHWESTLOGO
http://photoarchive.ap.org/ DATASOURCE: Southwest Bancorp, Inc.
CONTACT: Rick Green, President & CEO, or Kerby E. Crowell, EVP
& CFO, both of Southwest Bancorp, Inc., +1-405-372-2230 Web
Site: http://www.oksb.com/
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