Bank SNB parent plans second stock repurchase program

Southwest Bancorp, the Oklahoma-based holding company of Bank SNB, said Wednesday it plans a second stock repurchase program.

The company said in a news release that it plans to purchase up to 5 percent of its common stock.

The plan follows an earlier stock repurchase program announced in the third quarter of 2014. That plan, which officials said in the release is nearly complete, also called for purchasing 5 percent of its common stock.

“Southwest’s board of directors believes that the adoption of another 5 percent stock repurchase program demonstrates our continuing commitment to increase shareholder value and reflects our belief that Southwest's stock continues to represent a good investment opportunity,” Southwest CEO Mark Funke said in the release.

Bank SNB operates an eastside and westside branch in Wichita.

This story was originally published February 25, 2015 at 10:21 AM with the headline "Bank SNB parent plans second stock repurchase program."