The holding company of Bank of Kansas posted lower earnings for the third quarter and the first nine months of 2009.
Stillwater, Okla.-based Southwest Bancorp said net income available to common shareholders was $1.1 million in the quarter that ended Sept. 30, down from $2.3 million in the same quarter a year ago.
Year to date, net income available to common shareholders was $6.3 million compared with$11.7 million in the nine months of 2008.
"We continue to generate earnings from operations in a difficult banking environment and are taking steps designed to position ourselves to succeed when the economy improves," said Southwest CEO Rick Green in a news release. "For now, we expect continuing weakness in our commercial real estate markets and are clearly focused on identification and resolution of problem credits."