Delimiting Field Containing - Character

I need to turn the following types of number strings into a date
field:

03-1-12345
98-12-12345

Where, the strings would represent:

January 2003
December 1998

In Excel, I could just use the function Text to Columns, and delimit
on the character "-" and then put the string back together.

Unfortunately, I am accessing this table using ODBC, and the values
for this field are constantly updated.

Any help would be most appreciated.