Bank SNB reports higher earnings in second quarter

07/23/2014 8:20 AM

07/23/2014 8:21 AM

Southwest Bancorp said it ended the second quarter with higher net income despite an increase in expenses and the setting aside of money for loan losses.

The Stillwater, Okla.-based parent of Bank SNB said in a news release its net income for the period was $6.2 million, compared with $4.4 million in the second quarter of 2013.

The company said part of the gain in net income came from the sales of three Kansas branches — in Anthony, Harper and Overland Park — that were completed in the second quarter of 2014. Southwest Bancorp said the sale of those branches, including their deposits and loans, netted the company a $4.4 million pre-tax gain.

That gain was partially offset by a slight increase in its provision for loan losses and higher non-interest expense, Southwest said.

Its total assets at the end of the quarter were $1.9 billion.

Bank SNB operates two branches in Wichita and one in Hutchinson.

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