Banking

Bank SNB parent says net income up 21 percent in 2014

The Oklahoma-based parent of Bank SNB said it saw a decrease in net income for the fourth quarter of 2014, but higher net income for the year.

Southwest Bancorp said in a news release that its net income for the three-month period ended Dec. 31 was $5.9 million, compared with $6.8 million in the same period in 2013.

For the year, however, the company said net income increased nearly 21 percent from 2013, to $21 million.

“Our positive financial results for 2014 reflect the good work of our associates at Bank SNB and a growing customer base,” Southwest CEO Mark Funke said in the release. “Additionally, our earnings reflect several positive one-time events, including the divestiture of three branches in the second quarter.”

Those three branches were in Anthony, Harper and Overland Park, which Funke said netted the bank $4.4 million in pre-tax income.

Southwest operates two Bank SNB branches in Wichita.

The company also said in the release that it opened a full-service branch in Fort Worth, Texas, on Jan. 9.

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