Prosperity Bancshares, Inc.
TypePublic
NYSE: PB
S&P 400 component
IndustryBanking
Founded1983 (1983) in Houston, Texas
HeadquartersHouston, Texas, U.S.
Key people
David Zalman, Chairman & CEO
Asylbek Osmonov, CFO
Increase $332 million (2019)
Total assetsIncrease $32.185 billion (2019)
Total equityIncrease $5.970 billion (2019)
Number of employees
3,901 (2019)
Websitewww.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 three 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 nine branches, including six 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 2 "Prosperity Bancshares, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Failed Bank Information for Franklin Bank, SSB, Houston, TX". Federal Deposit Insurance Corporation.
  3. ↑ Sen, Anirban (February 8, 2010). "Prosperity Bank to buy First Bank's Texas branches". Reuters.
  4. ↑ Pulsinelli, Olivia (July 2, 2012). "Prosperity, American State Bank merger complete". American City Business Journals.
  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.
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