Welcome to our dedicated page for Prosperity Bancshares news (Ticker: PB), a resource for investors and traders seeking the latest updates and insights on Prosperity Bancshares stock.
Prosperity Bancshares Inc. (NYSE: PB), headquartered in Houston, Texas, is a prominent regional financial holding company operating under the community banking philosophy. Established in 1983, Prosperity Bancshares, through its subsidiary Prosperity Bank, offers a broad spectrum of retail and commercial banking services to individuals and small to midsize businesses across Texas and Oklahoma. As of March 31, 2024, the company reported total assets of $38.757 billion, making it a significant player in the regional banking sector.
The range of services provided by Prosperity includes traditional deposit and loan products, digital banking solutions, credit and debit cards, mortgage services, trust and wealth management, and treasury management. The company operates 288 full-service banking locations spread across various regions, including the Houston area, South Texas, Dallas/Fort Worth, East Texas, Central Texas, West Texas, Bryan/College Station, Central Oklahoma, and Tulsa, Oklahoma.
Prosperity Bancshares has demonstrated resilience and strategic growth through recent mergers and acquisitions. In May 2023, Prosperity completed the merger with First Bancshares of Texas, Inc., enhancing its market presence in West, North, and Central Texas areas. This was followed by the merger with Lone Star State Bancshares, Inc. on April 1, 2024, further consolidating its footprint in West Texas.
Despite facing challenges such as increased interest expenses and FDIC assessments, Prosperity Bancshares has maintained robust financial health. For the quarter ended March 31, 2024, the company reported a net income of $110.4 million, with an annualized return on average assets of 1.13%. Deposits and loans have shown steady growth, highlighting the company’s strong market position and customer trust.
Prosperity Bancshares continues to prioritize long-term relationships, strong asset quality, and sustainable earnings while delivering value to its shareholders. The company’s strategic focus on mergers and acquisitions, alongside maintaining a high tangible equity to tangible assets ratio, underscores its commitment to growth and profitability.
For more detailed financial performance and operational updates, visit Prosperity Bancshares’ official website or refer to their latest press releases and earnings reports.
Prosperity Bancshares reported Q3 2024 net income of $127.3 million, up from $112.2 million in Q3 2023. Earnings per diluted share increased to $1.34 from $1.20 year-over-year. The Board approved a 3.57% dividend increase to $0.58 for Q4 2024. Key highlights include: net interest margin increased 23 basis points to 2.95%; deposits grew by $154.5 million and loans by $60.0 million during Q3; noninterest-bearing deposits were $9.8 billion (34.9% of total deposits); and nonperforming assets remained low at 0.25% of average interest-earning assets. The company completed the Lone Star State Bancshares merger on April 1, 2024.
Prosperity Bancshares, Inc.® (NYSE: PB) has announced a quarterly common stock dividend increase for the fourth quarter of 2024. The Board of Directors declared a dividend of $0.58 per share, payable on January 2, 2025, to shareholders of record as of December 13, 2024. This represents a $0.02 per share or 3.57% increase from the previous quarter.
As of June 30, 2024, Prosperity Bancshares is a $39.762 billion Houston-based regional financial holding company. Founded in 1983, it provides personal banking services and investments to consumers and small to medium-sized businesses throughout Texas and Oklahoma. The company operates 287 full-service banking locations across various regions, offering traditional deposit and loan products, digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.
Prosperity Bancshares, Inc.® (NYSE: PB) has announced its Third Quarter 2024 Earnings Conference Call, scheduled for Wednesday, October 23, 2024, at 11:30 AM Eastern Time (10:30 AM Central Time). The call will follow the earnings announcement, which is set to be released before the market opens on the same day. Participants can join the call via webcast at https://www.prosperitybankusa.com/Presentation-Webcasts-and-Calls or by phone using the provided numbers.
As of June 30, 2024, Prosperity Bancshares is a $39.762 billion Houston-based regional financial holding company. It operates 287 full-service banking locations across Texas and Oklahoma, offering personal banking services, investments, and financial solutions to consumers and small to medium-sized businesses. The company emphasizes community banking and provides a range of services including digital banking, credit and debit cards, mortgage services, treasury management, and wealth management.
Prosperity Bancshares (NYSE: PB) released its 2024 second quarter earnings, reporting net income of $111.6 million and diluted EPS of $1.17. Excluding merger-related expenses, net income was $116.6 million and EPS was $1.22. The company completed the merger with Lone Star State Bancshares on April 1, 2024. Key metrics include a 15 basis point increase in net interest margin to 2.94%, a $1.06 billion increase in loans, and a $757.6 million increase in deposits. The annualized return on average assets was 1.12%. Share repurchases reached 671 thousand shares in Q2 and 1.2 million shares for the year. Noninterest income rose by 18.4% to $46.0 million, while noninterest expense increased by 12.5% to $152.8 million. The company declared a Q3 2024 dividend of $0.56 per share. Finally, nonperforming assets remained low at 0.25% of average interest-earning assets, and the allowance for credit losses was $397.5 million.
Prosperity Bancshares, Inc.® (NYSE: PB) has declared a quarterly common stock dividend of $0.56 per share for the third quarter of 2024. The dividend is payable on October 1, 2024, to shareholders of record as of September 13, 2024. As of March 31, 2024, Prosperity Bancshares is a $38.757 billion Houston-based regional financial holding company operating in Texas and Oklahoma. The company provides personal banking services and investments to consumers and small to medium-sized businesses through 288 full-service banking locations across various regions. Founded in 1983, Prosperity offers traditional deposit and loan products, as well as digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and cash management.
Prosperity Bancshares (NYSE: PB) will announce its Q2 2024 earnings on July 24, 2024, before the market opens. A conference call with executive management is scheduled for 11:30 AM ET (10:30 AM CT) on the same day. Investors can join via webcast or phone. The company, based in Houston, Texas, manages $38.757 billion in assets as of March 31, 2024. It operates 288 full-service banking locations across Texas and Oklahoma, offering a variety of financial services including digital banking, credit cards, mortgage services, and wealth management.
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