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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