May 3, 2010 (FinancialWire) — Southwest Bancorp, Inc. (NASDAQ: OKSB) has closed public offering of 4.6 million common shares at $12.50 per share, for gross proceeds of $57.5 million. The total included 600,000 common shares due to the exercise of the underwriters' over-allotment option.

Stifel, Nicolaus & Co. (NYSE: SF) served as the sole book-running manager.  

Southwest Bancorp said it will use the proceeds from the offering to increase the company's working capital and for general corporate purposes, including investment in Stillwater National Bank and Trust Co. or Bank of Kansas.

Pending these uses, the company said it may invest net proceeds in marketable investment securities or short-term, interest-bearing assets.

Oklahoma-based Southwest Bancorp is the bank holding company for Stillwater National Bank and Trust Co. and Bank of Kansas. Through its subsidiaries, Southwest offers commercial and consumer lending, deposit, and investment services and specialized cash management and other financial services from offices in Oklahoma, Texas, and Kansas and on the internet.

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