Southwest Bancorp Of Tx - Swbt - Brief Article

Southwest Bancorporation of Texas reported better-than-expected Q4 earnings, with loans increasing 33% and non-interest income up 49%. This growth is despite concerns regarding the weakened energy sector and its potential impact on the bank, clearly reflected in SWBT's weakened share price. However, it is important to note that over the past fifteen years, Houston's economy has become less reliant on the energy industry and the state is actually experiencing stronger-than-average economic strength. What's more, the energy industry seems to be turning around, which can only help the company further. Given these considerations, analysts believe the stock pullback presents a good buying opportunity. Insiders apparently agree, as activity shifted from disposing shares (throughout '98) to acquiring shares. From December 28 through February 23, four insiders acquired 150,696 shares--121,000 of those on the open market at $13.91 to $14.23 per share. Leading the acquisitions, Director Ernest Cockrell purchased 121,000 shares, the record number of shares purchased by all insiders in a single year. Also worth noting, Mr. Cockrell previously purchased shares in May '97 before the stock price nearly doubled. Also a purchaser in May, SVP, Controller R. John McWhorter exercised options for 19,500 shares in this round. Interestingly, he sold shares at the end of November and into December '98. EVP, CFO Southwest Bank David Farries exercised options for 6,000 shares. He too acquired shares in May '97 and sold shares in early December '98. Lastly, EVP, Vice-Chair of Southwest Bank Nolan Bedford exercised options for 4,196 shares. Southwest Bancorporation of Texas, with $2.21 billion in assets, is the largest independent bank-holding company headquartered in Houston. It is a one-bank holding company, which focuses on private and middle-market relationship banking.

COPYRIGHT 1999 American Banker-Bond Buyer
COPYRIGHT 2000 Gale Group