Southwest bankcorp inc (OKSB)

[Kev2128]

Southwest Bancorp misses by $0.37
6:14 AM ET 10/20/11 | Briefing.com
Reports Q3 (Sep) loss of $0.54 per share, $0.37 worse than the Capital IQ Consensus Estimate of ($0.17). Co states losses were primarily the result of significantly increased provisions for loan losses and other problem loan related costs. These increases are generally due to continued weakness in the economy and commercial real estate values in particular. The provision for loan losses totaled $24.6 mln for the third quarter of 2011, compared to $12.0 mln for the third quarter of 2010 and $20.1 mln for the second quarter of 2011. Net charge-offs totaled $14.5 mln, or 2.70% (annualized) of average portfolio loans for the third quarter of 2011, compared to $6.6 mln, or 1.05% (annualized) of average portfolio loans for the third quarter of 2010 and $26.9 mln, or 4.76% (annualized) of average portfolio loans for the second quarter of 2011.