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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">As filed with the Securities and Exchange Commission on November&nbsp;25, 2008<BR>
<U>Registration Statement No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SOUTHWEST BANCORP, INC.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(Exact Name of Registrant as Specified in its Charter)
</DIV>

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    <TD width="55%">&nbsp;</TD>
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    <TD width="20%">&nbsp;</TD>
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    <TD><DIV style="margin-left:30px; text-indent:-15px">Oklahoma
(State or Other Jurisdiction of</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">73-1136584</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Incorporation or Organization)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">(IRS Employer I.D. Number)</TD>
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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">608 South Main Street, Stillwater, Oklahoma 74074<BR>
(Address of Principal Executive Offices) (Zip Code)
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SOUTHWEST
BANCORP, INC.<br>2008 STOCK BASED AWARD PLAN</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(Full Title of Plan)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Rick J. Green<BR>
President and Chief Executive Officer<BR>
Southwest Bancorp, Inc.<BR>
608 South Main Street<BR>
Stillwater, Oklahoma 74074<BR>
(405)-372-2230<BR>
(Name, Address, and Telephone Number of Agent for Service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Copy to:<BR>
James I. Lundy, III, Esquire<BR>
Attorney at Law<BR>
1701 Pennsylvania Avenue<BR>
Suite&nbsp;300<BR>
Washington, DC 20006
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by a check mark if the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of &#147;accelerated filer,&#148;
&#147;large accelerated filer,&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the Exchange Act (Check
one):
</DIV>
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    <TD align="center" valign="top"><DIV style="margin-left:15px; text-indent:-15px">Large Accelerated filer <FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Accelerated filer <FONT face="Wingdings">&#254;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Non-accelerated filer <FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Smaller reporting company <FONT face="Wingdings">&#111;</FONT></TD>
</TR>
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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Title of Securities</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount to be</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Offering per</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate Offering</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">to be Registered</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Registered</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Share(1)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Price</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Registration Fee</TD>
    <TD>&nbsp;</TD>
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<TD><DIV style="margin-left:15px; text-indent:-15px">Common
Stock, $1.00 par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD align="center">800,000 shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12.97</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,376,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">407.78</TD>
    <TD>&nbsp;</TD>
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<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>
Based upon the average of the high and low prices of the Common Stock reported in the
consolidated reporting system on November&nbsp;21, 2008, in accordance with Rule 457(c) under the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;), solely for purposes of calculating
the registration fee pursuant to Rule 457(h) under the Securities Act.</TD>
</TR>

</TABLE>
</DIV>

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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">INTRODUCTORY STATEMENT
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement is filed for the purpose of registering 800,000 shares of common
stock, $1.00 par value per share, (&#147;Common Stock&#148;) of Southwest Bancorp, Inc. (the &#147;Company&#148;)
pursuant to the Southwest Bancorp 2008 Stock Based Award Plan (the &#147;Plan&#148;) along with an
indeterminate amount of interests under the Plan.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 3. Incorporation of Certain Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by the Company with the Securities and Exchange Commission are
hereby incorporated by reference in this Registration Statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Annual Report on Form 10-K for the year ended December&nbsp;31, 2007;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;Quarterly Report on Form 10-Q for the quarter ended June&nbsp;30, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;Quarterly Report on Form 10-Q for the quarter ended September&nbsp;30, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;Current Report on Form 8-K filed January&nbsp;2, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;Current Report on Form 8-K filed January&nbsp;22, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;Current Report on Form 8-K filed March&nbsp;4, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;Current Report on Form 8-K filed March&nbsp;13, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;Current Report on Form 8-K filed March&nbsp;17, 2004;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;Current Report on Form 8-K filed April&nbsp;17, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11)&nbsp;Current Report on Form 8-K filed April&nbsp;29,2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12)&nbsp;Current Report on Form 8-K filed April&nbsp;29, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13)&nbsp;Current Report on Form 8-K filed May&nbsp;27, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14)&nbsp;Current Report on Form 8-K filed May June&nbsp;3, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15)&nbsp;Current Report on Form 8-K filed June&nbsp;23, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16)&nbsp;Current Report on Form 8-K filed June&nbsp;30, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17)&nbsp;Current Report on Form 8-K filed July&nbsp;3, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18)&nbsp;Current Report on Form 8-K filed July&nbsp;14, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19)&nbsp;Current Report on Form 8-K filed July&nbsp;21, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20)&nbsp;Current Report on Form 8-K filed August&nbsp;19, 2008;
</DIV>

<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21)&nbsp;Current Report on Form 8-K filed October&nbsp;21, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22)&nbsp;Current Report on Form 8-K filed November&nbsp;21, 2008;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23)&nbsp;The description of common stock contained in Item&nbsp;5 of the Quarterly Report on
Form 10-Q for the quarter ended September&nbsp;30, 1999; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24)&nbsp;All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act
by the Company since the end of the year covered in its Annual Report referred to in
(1)&nbsp;above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by Southwest Bancorp, Inc. pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d)
of the Securities Exchange Act of 1934 subsequent to the date hereof, and prior to the filing of a
post-effective amendment hereto which indicates that all securities offered hereby shall have been
sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the date of filing of such documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 4. Description of Securities</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As the securities to be issued pursuant to this registration statement are registered under
Section&nbsp;12 of the Securities Exchange Act of 1934, this item is inapplicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 5. Interest of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 6. Indemnification of Directors and Officers</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1031 of the Oklahoma General Corporation Act sets forth circumstances under which
directors, officers, employees, and agents may be insured or indemnified against liability which
they may incur in their capacities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;XV of the Southwest Bancorp, Inc. (&#147;Southwest&#148;) Amended and Restated Certificate of
Incorporation provides that we shall indemnify any individual who is or was a director, officer,
employee or agent of Southwest, and any individual who serves or served at Southwest&#146;s request as a
director, officer, partner, trustee, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, in any proceeding in which the individual is made a party as a
result of his or her service in such capacity, if the individual acted in good faith and in a
manner reasonably believed to be in, or not opposed to, the best interests of Southwest and, with
respect to any criminal proceeding, he or she had no reasonable cause to believe the conduct was
unlawful, unless such indemnification would be prohibited by law. An individual will not be
indemnified in connection with a proceeding by or in the right of Southwest in which the individual
was adjudged liable to Southwest, unless the court in which the suit was brought determines the
individual is fairly and reasonably entitled to indemnification in view of all of the relevant
circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southwest Bancorp, Inc. also maintains directors&#146; and officers&#146; liability insurance, and has
entered into indemnification agreements with its non-officer directors and executive officers
(&#147;General Indemnification Agreements&#148;) relating to claims and expenses relating to their service as
directors or officers of Southwest or a Southwest subsidiary and additional indemnification
agreements (&#147;Financial Expert Agreements&#148;) with directors who serve as audit committee financial
experts. Under the General Indemnification Agreements:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Indemnified parties agree to cooperate in the investigation and defense of any actions or
claims that are subject to indemnification under the agreements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Indemnified parties are entitled to full reimbursement for expenses if they are successful
on the merits of a claim, and for their expenses as serving as witnesses in proceedings in which
they are not parties or threatened to be made parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;As to claims made other than by Southwest, indemnified parties are entitled to payment of
expenses, judgments, penalties, fines, and amounts paid in settlement if they acted in good faith
and in a manner they believed to be in, or not opposed to, the best interests of Southwest, and in
the case of a criminal proceeding, they had no reasonable cause to believe their conduct was
unlawful.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;As to proceedings by or in the right of Southwest, the indemnified parties are entitled to
payment of expenses (but not judgments, penalties, fines, or amounts paid in settlement), if they
acted in good faith and in a manner they believed to be in, or not opposed to, the best interest of
Southwest, except that the indemnified parties are not entitled to payment of
</DIV>

<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">expenses if they are found liable to Southwest unless the court finds they are fairly and
reasonably entitled to such payments.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Indemnified parties are eligible for advancement of expenses, except to the extent
prohibited by law, and are required to repay amounts for which they are later determined to be
ineligible.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;Rights to indemnification are protected by so called &#147;Rabbi Trusts&#148; to be created on the
books of Southwest following the later of (i)&nbsp;an action for which indemnification is called for
under the agreement, or (ii)&nbsp;the failure of Southwest to reimburse amounts as required by the
General Indemnification Agreement, which are subject to the claims of Southwest creditors, are in
the amount of $100,000 each, and are subject to replenishment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;Notwithstanding their General Indemnification Agreement&#146;s other terms: (a)&nbsp;if the board of
directors determines that a claim for indemnification arose under the Securities Act of 1933 and
that the board is legally required to submit to a court the question of whether or not
indemnification is against public policy, it will act to do so promptly; and (b)&nbsp;indemnification is
not allowed to the extent that federal banking laws prohibit indemnification payments with respect
to certain administrative proceedings or civil actions initiated by federal banking agencies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Financial Expert Agreements are intended to support the SEC and Southwest policies that no
audit committee financial expert (&#147;financial expert&#148;) should be subject to additional
responsibility or liability by reason of his or her identification or service in such position.
Under the Financial Expert Agreements:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Southwest agrees to indemnify and hold harmless each financial expert against any and all
losses, claims, damages, liabilities, and expenses (together, &#147;expenses&#148;) based upon his or her
service as an expert, as incurred; provided, however, that Southwest will not be liable under the
agreement to the extent that any such claims are based upon (i)&nbsp;claims that are substantially the
same as those made against at least one half of the other members of the Audit Committee excluding
the chairman of such committee and any person who has been identified as a financial expert in
Southwest&#146;s proxy materials; or (ii)&nbsp;willful breach of fiduciary duty by the financial expert
involving personal profit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Rights to indemnification are protected by so called &#147;Rabbi Trusts&#148; to be created on the
books of Southwest following the later of (i)&nbsp;an action for which indemnification is called for
under the agreement, or (ii)&nbsp;the failure of Southwest to reimburse amounts as required by the
Financial Expert Agreement, which are subject to the claims of Southwest creditors, are in the
amount of $100,000 each, and are subject to replenishment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The financial expert agrees to refund any amounts that are determined by final
unappealable order of a court with jurisdiction over the parties not to be subject to reimbursement
under the agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The agreement does not prevent or limit indemnification to which the financial expert is
entitled under any other law or document.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 7. Exemption From Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As no restricted securities are to be reoffered or resold pursuant to this registration
statement, this item is inapplicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 8. Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The exhibits required by Item&nbsp;601 of Regulation&nbsp;S-K and this item are included following the
Index to Exhibits at Page 6 hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>A. Rule&nbsp;415 Offering</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities
offered (if the total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum offering range may
be reflected in the form of prospectus
</DIV>

<P align="center" style="font-size: 10pt">4
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">filed with the Commission pursuant to Rule&nbsp;424(b)) if, in the aggregate, the changes in volume
and price represent no more than 20% change in the maximum aggregate offering price set forth in
the &#147;Calculation of Registration Fee&#148; table in the effective registration statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided, however, that paragraphs A(1)(i), A(1)(ii) and A(1)(iii) do not apply if the
registration statement is on Form S-8, and the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with or furnished to the
Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act
of 1934 that are incorporated by reference in the registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933, each
such post- effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>B. Filings Incorporating Subsequent Exchange Act Documents By Reference</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the undersigned registrants hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant&#146;s annual report pursuant
to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each
filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>C. Request for Acceleration of Effective Date or Filing of Registration Statement on Form&nbsp;S-8</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such issue.
</DIV>

<P align="center" style="font-size: 10pt">5
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies
that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Stillwater, State of Oklahoma on November&nbsp;24, 2008
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">s/ Rick J. Green
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Rick J. Green, President<BR>and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement
has been signed by the following persons in the capacities and on the dates indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">

<TD nowrap align="left" style="border-bottom: 1px solid #000000"><b>Signature
and Title</B></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">/s/ Kerby E. Crowell
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">Kerby E. Crowell
Executive Vice President,
Chief Financial Officer and Secretary</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jim Berry
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jim Berry, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Tom D. Berry
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Tom D. Berry, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Joe Berry Cannon
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Joe Berry Cannon, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John Cohlmia
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John Cohlmia, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ David S. Crockett Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David S. Crockett Jr., Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ J. Berry Harrison
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">J. Berry Harrison, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James M. Johnson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">James M. Johnson, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ David P. Lambert
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David P. Lambert, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Linford R. Pitts
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Linford R. Pitts, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Robert B. Rodgers
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert B. Rodgers, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-top:6pt; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Russell W. Teubner
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">November&nbsp;24, 2008</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Russell W. Teubner, Director</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">6
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Index to Exhibits</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Southwest Bancorp, Inc. 2008 Stock Based Award Plan, incorporated by reference to Exhibit&nbsp;10
to the Quarterly Report on Form&nbsp;10-Q for the quarter ended June&nbsp;30, 2008</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of James I. Lundy, III, Attorney at Law</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of James I. Lundy, III, Attorney at Law, included in Exhibit&nbsp;5</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Ernst &#038; Young LLP</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">7
</DIV>

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S-8
As filed with the Securities and Exchange Commission on November 25, 2008
Registration Statement No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SOUTHWEST BANCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
Oklahoma
(State or Other Jurisdiction of
73-1136584
Incorporation or Organization)
(IRS Employer I.D. Number)
608 South Main Street, Stillwater, Oklahoma 74074
(Address of Principal Executive Offices) (Zip Code)
SOUTHWEST
BANCORP, INC.
2008 STOCK BASED AWARD PLAN
(Full Title of Plan)
Rick J. Green
President and Chief Executive Officer
Southwest Bancorp, Inc.
608 South Main Street
Stillwater, Oklahoma 74074
(405)-372-2230
(Name, Address, and Telephone Number of Agent for Service)
Copy to:
James I. Lundy, III, Esquire
Attorney at Law
1701 Pennsylvania Avenue
Suite 300
Washington, DC 20006
Indicate by a check mark if the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of "accelerated filer,"
"large accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act (Check
one):
Large Accelerated filer
o
Accelerated filer
þ
Non-accelerated filer
o
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Title of Securities
Amount to be
Offering per
Aggregate Offering
Amount of
to be Registered
Registered
Share(1)
Price
Registration Fee
Common
Stock, $1.00 par value
800,000 shares
$
12.97
$
10,376,000
$
407.78
(1)
Based upon the average of the high and low prices of the Common Stock reported in the
consolidated reporting system on November 21, 2008, in accordance with Rule 457(c) under the
Securities Act of 1933, as amended (the "Securities Act"), solely for purposes of calculating
the registration fee pursuant to Rule 457(h) under the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
INTRODUCTORY STATEMENT
This registration statement is filed for the purpose of registering 800,000 shares of common
stock, $1.00 par value per share, ("Common Stock") of Southwest Bancorp, Inc. (the "Company")
pursuant to the Southwest Bancorp 2008 Stock Based Award Plan (the "Plan") along with an
indeterminate amount of interests under the Plan.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. Incorporation of Certain Documents by Reference.
The following documents filed by the Company with the Securities and Exchange Commission are
hereby incorporated by reference in this Registration Statement:
(1) Annual Report on Form 10-K for the year ended December 31, 2007;
(2) Quarterly Report on Form 10-Q for the quarter ended March 31, 2008;
(3) Quarterly Report on Form 10-Q for the quarter ended June 30, 2008;
(4) Quarterly Report on Form 10-Q for the quarter ended September 30, 2008;
(5) Current Report on Form 8-K filed January 2, 2008;
(6) Current Report on Form 8-K filed January 22, 2008;
(7) Current Report on Form 8-K filed March 4, 2008;
(8) Current Report on Form 8-K filed March 13, 2008;
(9) Current Report on Form 8-K filed March 17, 2004;
(10) Current Report on Form 8-K filed April 17, 2008;
(11) Current Report on Form 8-K filed April 29,2008;
(12) Current Report on Form 8-K filed April 29, 2008;
(13) Current Report on Form 8-K filed May 27, 2008;
(14) Current Report on Form 8-K filed May June 3, 2008;
(15) Current Report on Form 8-K filed June 23, 2008;
(16) Current Report on Form 8-K filed June 30, 2008;
(17) Current Report on Form 8-K filed July 3, 2008;
(18) Current Report on Form 8-K filed July 14, 2008;
(19) Current Report on Form 8-K filed July 21, 2008;
(20) Current Report on Form 8-K filed August 19, 2008;
2
(21) Current Report on Form 8-K filed October 21, 2008;
(22) Current Report on Form 8-K filed November 21, 2008;
(23) The description of common stock contained in Item 5 of the Quarterly Report on
Form 10-Q for the quarter ended September 30, 1999; and
(24) All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act
by the Company since the end of the year covered in its Annual Report referred to in
(1) above.
All documents filed by Southwest Bancorp, Inc. pursuant to Sections 13(a), 13(c), 14 and 15(d)
of the Securities Exchange Act of 1934 subsequent to the date hereof, and prior to the filing of a
post-effective amendment hereto which indicates that all securities offered hereby shall have been
sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by
reference herein and to be a part hereof from the date of filing of such documents.
ITEM 4. Description of Securities
As the securities to be issued pursuant to this registration statement are registered under
Section 12 of the Securities Exchange Act of 1934, this item is inapplicable.
ITEM 5. Interest of Named Experts and Counsel.
Not applicable.
ITEM 6. Indemnification of Directors and Officers
Section 1031 of the Oklahoma General Corporation Act sets forth circumstances under which
directors, officers, employees, and agents may be insured or indemnified against liability which
they may incur in their capacities.
Article XV of the Southwest Bancorp, Inc. ("Southwest") Amended and Restated Certificate of
Incorporation provides that we shall indemnify any individual who is or was a director, officer,
employee or agent of Southwest, and any individual who serves or served at Southwest's request as a
director, officer, partner, trustee, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, in any proceeding in which the individual is made a party as a
result of his or her service in such capacity, if the individual acted in good faith and in a
manner reasonably believed to be in, or not opposed to, the best interests of Southwest and, with
respect to any criminal proceeding, he or she had no reasonable cause to believe the conduct was
unlawful, unless such indemnification would be prohibited by law. An individual will not be
indemnified in connection with a proceeding by or in the right of Southwest in which the individual
was adjudged liable to Southwest, unless the court in which the suit was brought determines the
individual is fairly and reasonably entitled to indemnification in view of all of the relevant
circumstances.
Southwest Bancorp, Inc. also maintains directors' and officers' liability insurance, and has
entered into indemnification agreements with its non-officer directors and executive officers
("General Indemnification Agreements") relating to claims and expenses relating to their service as
directors or officers of Southwest or a Southwest subsidiary and additional indemnification
agreements ("Financial Expert Agreements") with directors who serve as audit committee financial
experts. Under the General Indemnification Agreements:
(a) Indemnified parties agree to cooperate in the investigation and defense of any actions or
claims that are subject to indemnification under the agreements.
(b) Indemnified parties are entitled to full reimbursement for expenses if they are successful
on the merits of a claim, and for their expenses as serving as witnesses in proceedings in which
they are not parties or threatened to be made parties.
(c) As to claims made other than by Southwest, indemnified parties are entitled to payment of
expenses, judgments, penalties, fines, and amounts paid in settlement if they acted in good faith
and in a manner they believed to be in, or not opposed to, the best interests of Southwest, and in
the case of a criminal proceeding, they had no reasonable cause to believe their conduct was
unlawful.
(d) As to proceedings by or in the right of Southwest, the indemnified parties are entitled to
payment of expenses (but not judgments, penalties, fines, or amounts paid in settlement), if they
acted in good faith and in a manner they believed to be in, or not opposed to, the best interest of
Southwest, except that the indemnified parties are not entitled to payment of
3
expenses if they are found liable to Southwest unless the court finds they are fairly and
reasonably entitled to such payments.
(e) Indemnified parties are eligible for advancement of expenses, except to the extent
prohibited by law, and are required to repay amounts for which they are later determined to be
ineligible.
(f) Rights to indemnification are protected by so called "Rabbi Trusts" to be created on the
books of Southwest following the later of (i) an action for which indemnification is called for
under the agreement, or (ii) the failure of Southwest to reimburse amounts as required by the
General Indemnification Agreement, which are subject to the claims of Southwest creditors, are in
the amount of $100,000 each, and are subject to replenishment.
(g) Notwithstanding their General Indemnification Agreement's other terms: (a) if the board of
directors determines that a claim for indemnification arose under the Securities Act of 1933 and
that the board is legally required to submit to a court the question of whether or not
indemnification is against public policy, it will act to do so promptly; and (b) indemnification is
not allowed to the extent that federal banking laws prohibit indemnification payments with respect
to certain administrative proceedings or civil actions initiated by federal banking agencies.
The Financial Expert Agreements are intended to support the SEC and Southwest policies that no
audit committee financial expert ("financial expert") should be subject to additional
responsibility or liability by reason of his or her identification or service in such position.
Under the Financial Expert Agreements:
(a) Southwest agrees to indemnify and hold harmless each financial expert against any and all
losses, claims, damages, liabilities, and expenses (together, "expenses") based upon his or her
service as an expert, as incurred; provided, however, that Southwest will not be liable under the
agreement to the extent that any such claims are based upon (i) claims that are substantially the
same as those made against at least one half of the other members of the Audit Committee excluding
the chairman of such committee and any person who has been identified as a financial expert in
Southwest's proxy materials; or (ii) willful breach of fiduciary duty by the financial expert
involving personal profit.
(b) Rights to indemnification are protected by so called "Rabbi Trusts" to be created on the
books of Southwest following the later of (i) an action for which indemnification is called for
under the agreement, or (ii) the failure of Southwest to reimburse amounts as required by the
Financial Expert Agreement, which are subject to the claims of Southwest creditors, are in the
amount of $100,000 each, and are subject to replenishment.
(c) The financial expert agrees to refund any amounts that are determined by final
unappealable order of a court with jurisdiction over the parties not to be subject to reimbursement
under the agreement.
(d) The agreement does not prevent or limit indemnification to which the financial expert is
entitled under any other law or document.
ITEM 7. Exemption From Registration Claimed.
As no restricted securities are to be reoffered or resold pursuant to this registration
statement, this item is inapplicable.
ITEM 8. Exhibits.
The exhibits required by Item 601 of Regulation S-K and this item are included following the
Index to Exhibits at Page 6 hereof.
ITEM 9. Undertakings.
A. Rule 415 Offering
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or
in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities
offered (if the total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum offering range may
be reflected in the form of prospectus
4
filed with the Commission pursuant to Rule 424(b)) if, in the aggregate, the changes in volume
and price represent no more than 20% change in the maximum aggregate offering price set forth in
the "Calculation of Registration Fee" table in the effective registration statement; and
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in
the registration statement;
provided, however, that paragraphs A(1)(i), A(1)(ii) and A(1)(iii) do not apply if the
registration statement is on Form S-8, and the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with or furnished to the
Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act
of 1934 that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, each
such post- effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
B. Filings Incorporating Subsequent Exchange Act Documents By Reference
Each of the undersigned registrants hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant
to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each
filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.
C. Request for Acceleration of Effective Date or Filing of Registration Statement on Form S-8
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with
the securities being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such issue.
5
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies
that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Stillwater, State of Oklahoma on November 24, 2008
By:
s/ Rick J. Green
Rick J. Green, President
and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement
has been signed by the following persons in the capacities and on the dates indicated.
Signature
and Title
Date
/s/ Kerby E. Crowell
November 24, 2008
Kerby E. Crowell
Executive Vice President,
Chief Financial Officer and Secretary
/s/ Jim Berry
November 24, 2008
Jim Berry, Director
/s/ Tom D. Berry
November 24, 2008
Tom D. Berry, Director
/s/ Joe Berry Cannon
November 24, 2008
Joe Berry Cannon, Director
/s/ John Cohlmia
November 24, 2008
John Cohlmia, Director
/s/ David S. Crockett Jr.
November 24, 2008
David S. Crockett Jr., Director
/s/ J. Berry Harrison
November 24, 2008
J. Berry Harrison, Director
/s/ James M. Johnson
November 24, 2008
James M. Johnson, Director
/s/ David P. Lambert
November 24, 2008
David P. Lambert, Director
/s/ Linford R. Pitts
November 24, 2008
Linford R. Pitts, Director
/s/ Robert B. Rodgers
November 24, 2008
Robert B. Rodgers, Director
/s/ Russell W. Teubner
November 24, 2008
Russell W. Teubner, Director
6
Index to Exhibits
Exhibit Number
Description
4
Southwest Bancorp, Inc. 2008 Stock Based Award Plan, incorporated by reference to Exhibit 10
to the Quarterly Report on Form 10-Q for the quarter ended June 30, 2008
5
Opinion of James I. Lundy, III, Attorney at Law
23.1
Consent of James I. Lundy, III, Attorney at Law, included in Exhibit 5
23.2
Consent of Ernst & Young LLP
24
Power of Attorney
7