OKLAKOMA CITY – Southwest Bancorp, Inc. announced Thursday that its board of directors has authorized a stock repurchase program for one year to purchase up to 5 percent of the company’s outstanding common stock, par value $1.00 per share. Southwest has approximately $2 billion in total assets with equity capital in excess of $270 million as of June 30, 2014.

In announcing the stock purchase program, Mark Funke, Southwest’s Chief Executive Officer, commented: “Southwest’s Board of Directors believes that the adoption of a stock repurchase program demonstrates our continuing commitment to increase shareholder value and reflects our belief that Southwest’s stock represents a good use of capital.”

The shares may be repurchased periodically in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of Southwest’s stock, general market and economic conditions, and applicable legal requirements. Repurchased shares will become treasury shares and may be utilized for general corporate purposes, including reissuance pursuant to Southwest’s stock-based award plans, employee stock purchase plan, dividend reinvestment plan, or other plans.

Southwest is the holding company for Bank SNB with branches in Hutchinson and South Hutchinson.