Bank SNB parent reports higher income in third quarter

The holding company of Bank SNB said its net income rose 28 percent in the third quarter of 2014.

Southwest Bancorp said net income for the three-month period ended Sept. 30 was $5.3 million, compared with $3.8 million in the same quarter a year ago.

The Stillwater, Okla., based company attributed the higher net income in part to lower interest expense on deposits and a reduction in interest costs.

“The third quarter results reflect continued improvement in asset quality, our focus on growing loan and customer relationships, and improved operating efficiencies,” Mark Funke, Southwest’s president and CEO, said in a news release.

The company also reported that Bank SNB’s conversion from a national to a state charter was completed Oct. 1.

Bank SNB operates two offices in Wichita.

This story was originally published October 22, 2014 at 7:40 AM with the headline "Bank SNB parent reports higher income in third quarter."