Business

July 24, 2013

Bank of Kansas parent sees big gain in quarterly net income

The parent company of Bank of Kansas said Wednesday that its net income in the second quarter jumped from a year ago.

The parent company of Bank of Kansas said Wednesday that its net income in the second quarter jumped from a year ago.

Southwest Bancorp said its second quarter 2013 net income was $4.4 million, compared with $3 million in the second quarter of 2012.

It said in a news release that decreases in noninterest expense, dividends on preferred stock, income tax expense and loan loss provisions helped push quarterly earnings higher.

The Stillwater, Okla.-based company said, however, net income for the first half of the year was down slightly from a year ago, $6.8 million compared with $7.1 million in the first half of 2012.

“As we move into the second half of 2013, we will continue to focus attention on improving asset quality, better operating efficiencies and appropriate capital management as we position our company for the future,” Southwest Bancorp CEO Mark Funke said in a news release.

Bank of Kansas is a $310 million bank based in South Hutchinson. It operates branches in Hutchinson, Wichita, Anthony, Harper and Overland Park.

Southwest Bancorp has $2 billion in assets and also operates Stillwater National Bank and Trust Co.

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