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OKSB > SEC Filings for OKSB > Form 8-K on 16-Sep-2013All Recent SEC Filings

Show all filings for SOUTHWEST BANCORP INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for SOUTHWEST BANCORP INC


16-Sep-2013

Other Events


Item 8.01 Other Events

On September 15, 2013, Southwest Bancorp, Inc. (the "Company") redeemed all of the 10.5% Trust Preferred Securities ("Trust Preferred Securities") issued by Southwest Capital Trust II, pursuant to the optional redemption provisions provided in the documents governing the Trust Preferred Securities. The Trust Preferred Securities had an aggregate principal balance of $34.5 million and a maturity date of September 15, 2038. The Trust Preferred Securities were redeemed at the liquidation amount of $25 per trust preferred security plus accrued and unpaid distributions to the redemption date of September 15, 2013; settlement occurred on September 16, 2013. The Company also redeemed $1.07 million in common securities issued by Southwest Capital Trust II and related to the Trust Preferred Securities. Following the redemption, the Company's capital levels are expected to remain well in excess of the regulatory minimum for well capitalized status. The redemption was funded with cash on hand.

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