Prosperity Bancshares (PB) 55.03 $PB Prosperity
Post# of 273246
Posted On: 09/07/2016 11:07:57 AM
Prosperity Bancshares (PB) 55.03 $PB
Prosperity Bancshares, Inc.® To Present At Keefe, Bruyette & Woods Bank Conference
PR Newswire - Fri Jul 29, 8:37AM CDT
Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank®, will be presenting at the Keefe, Bruyette & Woods 2016 Community Bank Investor Conference in New York on Tuesday, August 2, 2016 at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).
PB: 55.03 (+0.28)
BOK Financial (BOKF) Q2 Earnings Miss on High Provisions
Zacks Equity Research - Zacks Investment Research - Thu Jul 28, 7:42AM CDT
BOK Financial Corporation (BOKF) reported second-quarter 2016 earnings per share of $1.00, missing the Zacks Consensus Estimate by a penny.
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares (PB) Misses Q2 Earnings & Revenues
Zacks Equity Research - Zacks Investment Research - Thu Jul 28, 7:00AM CDT
Prosperity Bancshares' (PB) results were lower-than-expected primarily due to a decline in revenues and escalated provisions. Lower deposits and margins, and increased net charge-offs were the downsides.
WABC: 49.83 (-0.14), SIVB: 107.00 (-0.31), ZION: 30.41 (+0.02), PB: 55.03 (+0.28)
Prosperity Bancshares (PB) Q1 Earnings & Revenues Beat
Zacks Equity Research - Zacks Investment Research - Thu Apr 28, 7:50AM CDT
Prosperity Bancshares (PB) reported first quarter 2016 earnings per share of 98 cents, which beat the Zacks Consensus Estimate of 95 cents.
WABC: 49.83 (-0.14), SIVB: 107.00 (-0.31), ZION: 30.41 (+0.02), PB: 55.03 (+0.28)
BOK Financial (BOKF) Q1 Earnings Hit by Energy Provisions
Zacks Equity Research - Zacks Investment Research - Thu Apr 28, 7:32AM CDT
Shares of BOK Financial Corporation (BOKF) lost over 1% after the company recorded a negative earnings surprise of more than 34% in first-quarter 2016
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares, Inc.® Reports First Quarter 2016 Earnings
PR Newswire - Wed Apr 27, 5:30AM CDT
Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank® (collectively, "Prosperity"
, reported net income for the quarter ended March 31, 2016 of $68.951 million or $0.98 per diluted common share. Additionally, nonperforming assets remain low at 0.29% of first quarter average earning assets.
PB: 55.03 (+0.28)
Texas Capital (TCBI) Q1 Earnings Lag Estimates, Costs Rise
Zacks Equity Research - Zacks Investment Research - Thu Apr 21, 7:12AM CDT
Texas Capital Bancshares Inc. (TCBI) reported a negative surprise of 26.9% in the first quarter of 2016 on higher expenses. Earnings per share of 49 cents missed the Zacks Consensus Estimate of 67 cents by a wide margin.
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
BUYINS.NET: FFKT, CNBKA, MSM, AMP, PB, AXDX, Expected to Trade Higher After Bullish Insider Trading
M2 - Thu Feb 04, 8:50AM CST
BUYINS.NET / http://www.squeezetrigger.com is monitoring top insider trading patterns and these stocks are the most likely to trade Higher in the next 6 months. Farmers Capital Bank Corp (NASDAQ:FFKT), CENTURY BANCORP, INC. (NASDAQ:CNBKA), MSC INDUSTRIAL DIRECT CO., INC. (NYSE:MSM), AMERIPRISE FINANCIAL, INC. (NYSE:AMP), Prosperity Bancshares Inc (NYSE
, (NASDAQ:AXDX) are all expected to go Higher as Buy signals have been generated by top insider trading patterns.
CNBKA: 44.45 (+0.14), AXDX: 24.00 (+0.40), MSM: 72.64 (-1.08), FFKT: 30.44 (-0.01), AMP: 100.25 (-0.41), PB: 55.03 (+0.28)
Prosperity Bancshares reports Q4 2015 net income of USD70m
M2 - Wed Feb 03, 7:46AM CST
Prosperity Bancshares, Inc. (NYSE: PB), parent company of Prosperity Bank, has reported net income USD66.147 million for the quarter ended December 31, 2015, compared with USD58.499 million for the quarter ended December 31, 2014, an increase of 13.1 percent, the company said. Net interest income before provision for credit losses for the quarter ended December 31, 2015 was USD153.258 million compared with USD177.751 million during the same period in 2014. Linked quarter net interest income before provision for credit losses was USD153.258 million for the three months ended December 31, 2015 compared with USD156.108 million for the three months ended September 30, 2015. Noninterest income was USD30.283 million for the three months ended December 31, 2015 compared with USD29.380 million for the same period in 2014. This change was primarily due to the net gain on sale of assets and other noninterest income. On a linked quarter basis, noninterest income decreased USD1.497 million or 4.7 percent compared with the quarter ended September 30, 2015. This was primarily due to a decrease in mortgage income and other noninterest income. Net income was USD286.646 million for the year ended December 31, 2015 compared with USD297.441 million for the same period in 2014. Net income per diluted common share was USD4.09 for the year ended December 31, 2015 compared with USD4.32 for the same period in 2014. At December 31, 2015, Prosperity had USD22.037 billion in total assets, an increase of USD529.483 million or 2.5 percent, compared with USD21.508 billion at December 31, 2014. Loans at December 31, 2015 were USD9.439 billion, an increase of USD194.406 million or 2.1 percent, compared with USD9.244 billion at December 31, 2014. Linked quarter loans increased USD233.601 million or 2.5 percent (10.1 percent annualized) from USD9.205 billion at September 30, 2015. Prosperity Bancshares, Inc. declared a first quarter cash dividend of USD0.30 per share, to be paid on April 1, 2016 to all shareholders of record as of March 18, 2016. On January 1, 2016, Prosperity Bancshares completed the acquisition of Tradition Bancshares, Inc. and its wholly owned subsidiary Tradition Bank headquartered in Houston, Texas. As of December 31, 2015, Tradition, on a consolidated basis, reported total assets of USD547.963 million, total loans of USD253.315 million, total deposits of USD488.928 million and shareholders' equity of USD43.103 million. Prosperity Bancshares, Inc. is a USD22.037 billion Houston, Texas based regional financial holding company, formed in 1983. Including the former Tradition Bank locations, Prosperity currently operates 248 full-service banking locations: 67 in the Houston area.
PB: 55.03 (+0.28)
Prosperity Bancshares to commence stock repurchase program
M2 - Wed Feb 03, 7:46AM CST
Board of directors of Prosperity Bancshares, Inc. (NYSE: PB), parent company of Prosperity Bank, has authorized a stock repurchase program under which up to five percent or approximately 3.54 million shares of its outstanding common stock may be acquired over the next 12 months at the discretion of management, the company said. Company chairman and CEO David Zalman said, "The board's approval of this program reflects our continued confidence in Prosperity's future. Repurchasing stock is one means of emphasizing our commitment to enhancing shareholder value." As of December 31, 2015, Prosperity Bancshares Inc. is a USD22.037 billion Houston, Texas based regional financial holding company, formed in 1983.
PB: 55.03 (+0.28)
Prosperity Bancshares (PB) Jumps: Stock Moves 6.3% Higher
Zacks Equity Research - Zacks Investment Research - Fri Jan 29, 7:00AM CST
Prosperity Bancshares (PB) was a big mover last session, with shares rising over 6% on the day.
BANC: 22.53 (+0.01), PB: 55.03 (+0.28)
Prosperity Bancshares Up on Earnings Beat, Revenues Fall
Zacks Equity Research - Zacks Investment Research - Thu Jan 28, 10:55AM CST
Prosperity Bancshares' (PB) earnings per share of $1.01 surpassed the Zacks Consensus Estimate of 99 cents.
WABC: 49.83 (-0.14), SIVB: 107.00 (-0.31), ZION: 30.41 (+0.02), PB: 55.03 (+0.28)
BOK Financial (BOKF) Q4 Earnings Hit by Energy Headwinds
Zacks Equity Research - Zacks Investment Research - Thu Jan 28, 10:45AM CST
BOK Financial Corporation (BOKF) reported fourth-quarter 2015 earnings per share of 89 cents, missing the Zacks Consensus Estimate by 5 cents
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Cullen/Frost Gains 5.5% Despite Q4 Earnings Miss, NIM Up
Zacks Equity Research - Zacks Investment Research - Thu Jan 28, 10:30AM CST
Driven by a notable spike in provisions, Cullen/Frost delivered a negative earnings surprise of 13.5% in fourth-quarter 2015 as earnings of 90 cents per share missed the Zacks Consensus Estimate of $1.04
CFR: 71.63 (-0.10), SIVB: 107.00 (-0.31), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares tops 4Q profit forecasts
Automated Insights - Wed Jan 27, 5:29AM CST
HOUSTON (AP) _ Prosperity Bancshares Inc. (PB) on Wednesday reported fourth-quarter profit of $70.5 million.
PB: 55.03 (+0.28)
Prosperity Bancshares, Inc.® Announces Stock Repurchase Program
PR Newswire - Wed Jan 27, 5:10AM CST
Prosperity Bancshares, Inc.® ("Prosperity" (NYSE: PB), the parent company of Prosperity Bank®, today announced that its Board of Directors authorized a stock repurchase program under which up to 5% or approximately 3.54 million shares of its outstanding common stock may be acquired over the next twelve months at the discretion of management.
PB: 55.03 (+0.28)
Prosperity Bancshares, Inc.® Reports Fourth Quarter 2015 Earnings
PR Newswire - Wed Jan 27, 5:05AM CST
Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank® (collectively, "Prosperity" , reported net income for the quarter ended December 31, 2015 of $70.475 million or $1.01 per diluted common share. Additionally, nonperforming assets remain low at 0.23% of fourth quarter average earning assets with an annualized return on fourth quarter average assets of 1.30%.
PB: 55.03 (+0.28)
3 Value Stocks Near 52-Week Lows Worth Buying
Sean Williams, The Motley Fool - Motley Fool - Fri Jan 22, 7:21AM CST
Image source: Pixabay. While many companies' shares are rising past their fair values now, others are trading at potentially bargain prices. The difficulty with bargain shopping, though, is that you may be understandably hesitant to buy stocks...
AA: 10.27 (-0.05), QRVO: 55.72 (-0.30), AAPL: 107.38 (-0.32), PB: 55.03 (+0.28)
Texas Capital (TCBI) Q4 Earnings Disappoint, Down Y/Y
Zacks Equity Research - Zacks Investment Research - Thu Jan 21, 8:50AM CST
Texas Capital Bancshares Inc. (TCBI) reported fourth-quarter 2015 earnings per share of 70 cents, missing the Zacks Consensus Estimate of 73 cents. Moreover, results fell short of the prior-year quarter tally of 78 cents.
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares, Tradition Bankshares complete merger
M2 - Wed Jan 06, 6:14AM CST
Prosperity Bancshares, Inc. (NYSE: PB), parent company of Prosperity Bank, said it has completed the merger of Tradition Bancshares, Inc. with and into Prosperity and the merger of Tradition's wholly owned subsidiary, Tradition Bank with and into Prosperity Bank. Tradition Bank operated seven banking offices in the Houston, Texas area. As of September 30, 2015, Tradition, on a consolidated basis, reported total assets of USD540.6 million, total loans of USD239.2 million, total deposits of USD483.8 million and shareholders' equity of USD46.3 million. Under the terms of the definitive agreement, Prosperity issued approximately 679,679 shares of Prosperity common stock plus approximately USD39.0 million in cash for all outstanding shares of Tradition capital stock. Long-time Houston bankers Downy Vickery, senior chairman of Tradition Bank, and Craig Wooten, chairman of Tradition Bank, will join the Prosperity Bank team as executive vice presidents and will focus on lending efforts. Charlie Norris, CEO of Tradition Bank, will become a regional president and will be responsible for the supervision and management of the former Tradition banking offices. Prosperity Bancshares, Inc. is a USD21.6 billion Houston, Texas-based regional financial holding company, formed in 1983. Operating under a community banking philosophy, Prosperity offers a variety of traditional loan and deposit products to its customers, which consist primarily of small and medium sized businesses and consumers.
PB: 55.03 (+0.28)
Prosperity Bancshares, Inc.® To Present At Keefe, Bruyette & Woods Bank Conference
PR Newswire - Fri Jul 29, 8:37AM CDT
Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank®, will be presenting at the Keefe, Bruyette & Woods 2016 Community Bank Investor Conference in New York on Tuesday, August 2, 2016 at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).
PB: 55.03 (+0.28)
BOK Financial (BOKF) Q2 Earnings Miss on High Provisions
Zacks Equity Research - Zacks Investment Research - Thu Jul 28, 7:42AM CDT
BOK Financial Corporation (BOKF) reported second-quarter 2016 earnings per share of $1.00, missing the Zacks Consensus Estimate by a penny.
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares (PB) Misses Q2 Earnings & Revenues
Zacks Equity Research - Zacks Investment Research - Thu Jul 28, 7:00AM CDT
Prosperity Bancshares' (PB) results were lower-than-expected primarily due to a decline in revenues and escalated provisions. Lower deposits and margins, and increased net charge-offs were the downsides.
WABC: 49.83 (-0.14), SIVB: 107.00 (-0.31), ZION: 30.41 (+0.02), PB: 55.03 (+0.28)
Prosperity Bancshares (PB) Q1 Earnings & Revenues Beat
Zacks Equity Research - Zacks Investment Research - Thu Apr 28, 7:50AM CDT
Prosperity Bancshares (PB) reported first quarter 2016 earnings per share of 98 cents, which beat the Zacks Consensus Estimate of 95 cents.
WABC: 49.83 (-0.14), SIVB: 107.00 (-0.31), ZION: 30.41 (+0.02), PB: 55.03 (+0.28)
BOK Financial (BOKF) Q1 Earnings Hit by Energy Provisions
Zacks Equity Research - Zacks Investment Research - Thu Apr 28, 7:32AM CDT
Shares of BOK Financial Corporation (BOKF) lost over 1% after the company recorded a negative earnings surprise of more than 34% in first-quarter 2016
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares, Inc.® Reports First Quarter 2016 Earnings
PR Newswire - Wed Apr 27, 5:30AM CDT
Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank® (collectively, "Prosperity"
, reported net income for the quarter ended March 31, 2016 of $68.951 million or $0.98 per diluted common share. Additionally, nonperforming assets remain low at 0.29% of first quarter average earning assets. PB: 55.03 (+0.28)
Texas Capital (TCBI) Q1 Earnings Lag Estimates, Costs Rise
Zacks Equity Research - Zacks Investment Research - Thu Apr 21, 7:12AM CDT
Texas Capital Bancshares Inc. (TCBI) reported a negative surprise of 26.9% in the first quarter of 2016 on higher expenses. Earnings per share of 49 cents missed the Zacks Consensus Estimate of 67 cents by a wide margin.
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
BUYINS.NET: FFKT, CNBKA, MSM, AMP, PB, AXDX, Expected to Trade Higher After Bullish Insider Trading
M2 - Thu Feb 04, 8:50AM CST
BUYINS.NET / http://www.squeezetrigger.com is monitoring top insider trading patterns and these stocks are the most likely to trade Higher in the next 6 months. Farmers Capital Bank Corp (NASDAQ:FFKT), CENTURY BANCORP, INC. (NASDAQ:CNBKA), MSC INDUSTRIAL DIRECT CO., INC. (NYSE:MSM), AMERIPRISE FINANCIAL, INC. (NYSE:AMP), Prosperity Bancshares Inc (NYSE
, (NASDAQ:AXDX) are all expected to go Higher as Buy signals have been generated by top insider trading patterns. CNBKA: 44.45 (+0.14), AXDX: 24.00 (+0.40), MSM: 72.64 (-1.08), FFKT: 30.44 (-0.01), AMP: 100.25 (-0.41), PB: 55.03 (+0.28)
Prosperity Bancshares reports Q4 2015 net income of USD70m
M2 - Wed Feb 03, 7:46AM CST
Prosperity Bancshares, Inc. (NYSE: PB), parent company of Prosperity Bank, has reported net income USD66.147 million for the quarter ended December 31, 2015, compared with USD58.499 million for the quarter ended December 31, 2014, an increase of 13.1 percent, the company said. Net interest income before provision for credit losses for the quarter ended December 31, 2015 was USD153.258 million compared with USD177.751 million during the same period in 2014. Linked quarter net interest income before provision for credit losses was USD153.258 million for the three months ended December 31, 2015 compared with USD156.108 million for the three months ended September 30, 2015. Noninterest income was USD30.283 million for the three months ended December 31, 2015 compared with USD29.380 million for the same period in 2014. This change was primarily due to the net gain on sale of assets and other noninterest income. On a linked quarter basis, noninterest income decreased USD1.497 million or 4.7 percent compared with the quarter ended September 30, 2015. This was primarily due to a decrease in mortgage income and other noninterest income. Net income was USD286.646 million for the year ended December 31, 2015 compared with USD297.441 million for the same period in 2014. Net income per diluted common share was USD4.09 for the year ended December 31, 2015 compared with USD4.32 for the same period in 2014. At December 31, 2015, Prosperity had USD22.037 billion in total assets, an increase of USD529.483 million or 2.5 percent, compared with USD21.508 billion at December 31, 2014. Loans at December 31, 2015 were USD9.439 billion, an increase of USD194.406 million or 2.1 percent, compared with USD9.244 billion at December 31, 2014. Linked quarter loans increased USD233.601 million or 2.5 percent (10.1 percent annualized) from USD9.205 billion at September 30, 2015. Prosperity Bancshares, Inc. declared a first quarter cash dividend of USD0.30 per share, to be paid on April 1, 2016 to all shareholders of record as of March 18, 2016. On January 1, 2016, Prosperity Bancshares completed the acquisition of Tradition Bancshares, Inc. and its wholly owned subsidiary Tradition Bank headquartered in Houston, Texas. As of December 31, 2015, Tradition, on a consolidated basis, reported total assets of USD547.963 million, total loans of USD253.315 million, total deposits of USD488.928 million and shareholders' equity of USD43.103 million. Prosperity Bancshares, Inc. is a USD22.037 billion Houston, Texas based regional financial holding company, formed in 1983. Including the former Tradition Bank locations, Prosperity currently operates 248 full-service banking locations: 67 in the Houston area.
PB: 55.03 (+0.28)
Prosperity Bancshares to commence stock repurchase program
M2 - Wed Feb 03, 7:46AM CST
Board of directors of Prosperity Bancshares, Inc. (NYSE: PB), parent company of Prosperity Bank, has authorized a stock repurchase program under which up to five percent or approximately 3.54 million shares of its outstanding common stock may be acquired over the next 12 months at the discretion of management, the company said. Company chairman and CEO David Zalman said, "The board's approval of this program reflects our continued confidence in Prosperity's future. Repurchasing stock is one means of emphasizing our commitment to enhancing shareholder value." As of December 31, 2015, Prosperity Bancshares Inc. is a USD22.037 billion Houston, Texas based regional financial holding company, formed in 1983.
PB: 55.03 (+0.28)
Prosperity Bancshares (PB) Jumps: Stock Moves 6.3% Higher
Zacks Equity Research - Zacks Investment Research - Fri Jan 29, 7:00AM CST
Prosperity Bancshares (PB) was a big mover last session, with shares rising over 6% on the day.
BANC: 22.53 (+0.01), PB: 55.03 (+0.28)
Prosperity Bancshares Up on Earnings Beat, Revenues Fall
Zacks Equity Research - Zacks Investment Research - Thu Jan 28, 10:55AM CST
Prosperity Bancshares' (PB) earnings per share of $1.01 surpassed the Zacks Consensus Estimate of 99 cents.
WABC: 49.83 (-0.14), SIVB: 107.00 (-0.31), ZION: 30.41 (+0.02), PB: 55.03 (+0.28)
BOK Financial (BOKF) Q4 Earnings Hit by Energy Headwinds
Zacks Equity Research - Zacks Investment Research - Thu Jan 28, 10:45AM CST
BOK Financial Corporation (BOKF) reported fourth-quarter 2015 earnings per share of 89 cents, missing the Zacks Consensus Estimate by 5 cents
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Cullen/Frost Gains 5.5% Despite Q4 Earnings Miss, NIM Up
Zacks Equity Research - Zacks Investment Research - Thu Jan 28, 10:30AM CST
Driven by a notable spike in provisions, Cullen/Frost delivered a negative earnings surprise of 13.5% in fourth-quarter 2015 as earnings of 90 cents per share missed the Zacks Consensus Estimate of $1.04
CFR: 71.63 (-0.10), SIVB: 107.00 (-0.31), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares tops 4Q profit forecasts
Automated Insights - Wed Jan 27, 5:29AM CST
HOUSTON (AP) _ Prosperity Bancshares Inc. (PB) on Wednesday reported fourth-quarter profit of $70.5 million.
PB: 55.03 (+0.28)
Prosperity Bancshares, Inc.® Announces Stock Repurchase Program
PR Newswire - Wed Jan 27, 5:10AM CST
Prosperity Bancshares, Inc.® ("Prosperity"
(NYSE: PB), the parent company of Prosperity Bank®, today announced that its Board of Directors authorized a stock repurchase program under which up to 5% or approximately 3.54 million shares of its outstanding common stock may be acquired over the next twelve months at the discretion of management. PB: 55.03 (+0.28)
Prosperity Bancshares, Inc.® Reports Fourth Quarter 2015 Earnings
PR Newswire - Wed Jan 27, 5:05AM CST
Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank® (collectively, "Prosperity"
, reported net income for the quarter ended December 31, 2015 of $70.475 million or $1.01 per diluted common share. Additionally, nonperforming assets remain low at 0.23% of fourth quarter average earning assets with an annualized return on fourth quarter average assets of 1.30%. PB: 55.03 (+0.28)
3 Value Stocks Near 52-Week Lows Worth Buying
Sean Williams, The Motley Fool - Motley Fool - Fri Jan 22, 7:21AM CST
Image source: Pixabay. While many companies' shares are rising past their fair values now, others are trading at potentially bargain prices. The difficulty with bargain shopping, though, is that you may be understandably hesitant to buy stocks...
AA: 10.27 (-0.05), QRVO: 55.72 (-0.30), AAPL: 107.38 (-0.32), PB: 55.03 (+0.28)
Texas Capital (TCBI) Q4 Earnings Disappoint, Down Y/Y
Zacks Equity Research - Zacks Investment Research - Thu Jan 21, 8:50AM CST
Texas Capital Bancshares Inc. (TCBI) reported fourth-quarter 2015 earnings per share of 70 cents, missing the Zacks Consensus Estimate of 73 cents. Moreover, results fell short of the prior-year quarter tally of 78 cents.
CFR: 71.63 (-0.10), BOKF: 67.95 (unch), PB: 55.03 (+0.28), TCBI: 52.19 (+0.21)
Prosperity Bancshares, Tradition Bankshares complete merger
M2 - Wed Jan 06, 6:14AM CST
Prosperity Bancshares, Inc. (NYSE: PB), parent company of Prosperity Bank, said it has completed the merger of Tradition Bancshares, Inc. with and into Prosperity and the merger of Tradition's wholly owned subsidiary, Tradition Bank with and into Prosperity Bank. Tradition Bank operated seven banking offices in the Houston, Texas area. As of September 30, 2015, Tradition, on a consolidated basis, reported total assets of USD540.6 million, total loans of USD239.2 million, total deposits of USD483.8 million and shareholders' equity of USD46.3 million. Under the terms of the definitive agreement, Prosperity issued approximately 679,679 shares of Prosperity common stock plus approximately USD39.0 million in cash for all outstanding shares of Tradition capital stock. Long-time Houston bankers Downy Vickery, senior chairman of Tradition Bank, and Craig Wooten, chairman of Tradition Bank, will join the Prosperity Bank team as executive vice presidents and will focus on lending efforts. Charlie Norris, CEO of Tradition Bank, will become a regional president and will be responsible for the supervision and management of the former Tradition banking offices. Prosperity Bancshares, Inc. is a USD21.6 billion Houston, Texas-based regional financial holding company, formed in 1983. Operating under a community banking philosophy, Prosperity offers a variety of traditional loan and deposit products to its customers, which consist primarily of small and medium sized businesses and consumers.
PB: 55.03 (+0.28)
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