Prosperity Bancshares

Short description: American bank

Prosperity Bancshares, Inc.

Type| Public company

Traded as

| NYSE: PB
S&P 400 component
Industry| Banking
Founded| 1983; 40 years ago (1983) in Houston, Texas
Headquarters| Houston, Texas, U.S.

Key people

| David Zalman, Chairman & CEO
Asylbek Osmonov, CFO

Net income

|  $332 million (2019)
Total assets|  $32.185 billion (2019)
Total equity|  $5.970 billion (2019)

Number of employees

| 3,901 (2019)
Website| www.prosperitybankusa.com
Footnotes / references
[1]

Prosperity Bancshares, Inc. is a bank holding company headquartered in Houston, Texas with operations in Texas and central Oklahoma. As of December 31, 2019, the company operated 285 branches: 65 in the Houston area, including The Woodlands, Texas; 30 in South Texas, including Corpus Christi, Texas and Victoria, Texas; 75 in the Dallas–Fort Worth metroplex; 22 in East Texas; 29 in Central Texas, including Austin, Texas and San Antonio; 34 in West Texas, including Lubbock, Texas, Midland–Odessa, and Abilene, Texas; 16 in Bryan–College Station; 6 in Central Oklahoma; and 8 in Tulsa, Oklahoma.[1]

## History

The company was formed in 1983 to purchase a former Allied Bank branch in Edna, Texas. The Edna bank dated back to 1949 as the First National Bank of Edna.

In November 2008, in a transaction organized by the Federal Deposit Insurance Corporation, the company acquired Franklin Bank, which suffered from bank failure.[2]

In 2010, the company acquired 3 branches in Texas as part of the acquisition of FBOP Corporation by U.S. Bancorp.[3]

In July 2012, the company acquired the 37-branch American State Bank, which provided the company its first locations in West Texas.[4]

In April 2013, the company acquired Coppermark Bank and its 9 branches, including 6 branches in Central Oklahoma, its first presence outside Texas.[5]

In November 2013, the company acquired First Victoria National Bank and its 34 branches.[6]

In April 2014, the company acquired F&M Bancorporation and its 13 branches, including several in Tulsa, Oklahoma.[7]

In November 2019, the company acquired LegacyTexas Bank and its 42 branches.[8][9]

## References

1. ↑ 1.0 1.1 "Prosperity Bancshares, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/1068851/000156459020007837/pb-10k_20191231.htm.
2. ↑ "Failed Bank Information for Franklin Bank, SSB, Houston, TX". Federal Deposit Insurance Corporation. https://www.fdic.gov/bank/individual/failed/franklinbank.html.
3. ↑ Sen, Anirban (February 8, 2010). "Prosperity Bank to buy First Bank's Texas branches". Reuters. https://www.reuters.com/article/prosperitybancshares/update-1-prosperity-bank-to-buy-first-banks-texas-branches-idUSSGE6170L720100208.
4. ↑ Pulsinelli, Olivia (July 2, 2012). "Prosperity, American State Bank merger complete". American City Business Journals. https://www.bizjournals.com/houston/morning_call/2012/07/prosperity-american-state-bank-merger.html.
5. ↑ "Prosperity Bancshares, Inc.® Completes Merger With Coppermark Bancshares, Inc" (Press release). PR Newswire. April 1, 2013.
6. ↑ "Prosperity Bancshares, Inc.® Completes Merger With FVNB Corp" (Press release). PR Newswire. November 1, 2013.
7. ↑ "Prosperity Bancshares, Inc.® Completes Merger With F&M Bancorporation Inc" (Press release). PR Newswire. November 1, 2013.
8. ↑ "Prosperity Bancshares, Inc. ® Completes Merger With LegacyTexas Financial Group, Inc" (Press release). PR Newswire. November 1, 2019.
9. ↑ Mathews, Chris (November 1, 2019). "Houston bank closes multibillion-dollar acquisition of North Texas bank". American City Business Journals. https://www.bizjournals.com/houston/news/2019/11/01/houston-bank-closes-multibillion-dollar.html.

## External links

*   * Business data for Prosperity Bancshares, Inc.:

* Google Finance
* Yahoo! Finance
* Bloomberg
* Reuters
* SEC filings

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