Prosperity Bancshares Inc - PB STOCK NEWS

Prosperity Bancshares reported a net income of $124.7 million for Q1 2023, up from $122.3 million in Q1 2022, with earnings per share of $1.37. Loans, excluding Warehouse Purchase Program loans, increased by $436 million or 2.4% (9.6% annualized). The allowance for credit losses stands at 1.52% of total loans. Nonperforming assets remain low at 0.07% of average interest-earning assets. Annualized returns on assets reached 1.31%, while the efficiency ratio is 43.68%. The company repurchased 611,263 shares during the quarter and received regulatory approvals for its acquisitions of First Bancshares of Texas and Lone Star State Bancshares. Prosperity Bancshares is ranked 6th in Forbes' 2023 Best Banks list.

Prosperity Bancshares, Inc. (NYSE: PB) declared a quarterly common stock dividend of $0.55 per share for Q2 2023, payable on July 3, 2023, to shareholders of record by June 15, 2023. As of December 31, 2022, Prosperity Bancshares is valued at $37.690 billion and serves customers across Texas and Oklahoma through 272 full-service branches. The company focuses on community banking, offering various financial services including digital banking, mortgage, and wealth management. Established in 1983, Prosperity is committed to customer service and community support.

Prosperity Bancshares, Inc. (NYSE: PB) announced the receipt of all regulatory approvals necessary to finalize its acquisition of First Bancshares of Texas, expected to take effect on May 1, 2023. Following the merger, FirstCapital banking locations will continue operating under their name until integration on May 15, 2023. First Bancshares reported total assets of $2.16 billion, total loans of $1.64 billion, and total deposits of $1.80 billion as of December 31, 2022. Prosperity Bancshares, with assets totaling $37.690 billion, is committed to expanding its services across Texas and Oklahoma through this acquisition, enhancing customer experience by increasing their network of banking centers.

Prosperity Bancshares, Inc. (NYSE: PB) will announce its First Quarter 2023 earnings before the market opens on April 26, 2023. A conference call, featuring Prosperity's executive management team, will be held at 10:30 AM CT. Investors can access the call via the company's website or by dialing 1-877-885-0477 for domestic and 1-412-902-6506 for international participants, using entry number 7001408. As of December 31, 2022, Prosperity Bancshares is valued at $37.69 billion and operates 272 locations primarily in Texas and Oklahoma, emphasizing community banking.

Prosperity Bancshares reported a Q4 2022 net income of $137.9 million or $1.51 per share, an increase of 8.7% year-over-year. Total loans rose by $518.5 million (3.0%) in Q4 and $1.422 billion (8.5%) throughout 2022. The net interest margin improved to 3.05% from 2.97% the previous year. Nonperforming assets stayed low at 0.08%. The company announced a stock repurchase program for up to 5% of its common stock and is pursuing acquisitions of First Bancshares and Lone Star State Bancshares, expected to close in mid-2023. The 2023 dividend of $0.55 per share will be paid on April 3, 2023.

On January 18, 2023, Prosperity Bancshares, Inc. (NYSE: PB) announced a quarterly common stock dividend of $0.55 per share for Q1 2023. This dividend is payable on April 3, 2023, to shareholders of record as of March 15, 2023. Prosperity Bancshares, based in Houston, Texas, has a market capitalization of $37.844 billion and operates 272 banking locations across Texas and Oklahoma, providing various personal banking services. Founded in 1983, the bank aims to serve the financial needs of communities with a focus on customer care and tailored solutions.

Prosperity Bancshares, Inc. (NYSE: PB) announced a stock repurchase program allowing up to 5%, or approximately 4.6 million shares, to be repurchased over the next year. The Board of Directors authorized this program, which can be conducted in open market transactions or through trading plans per SEC regulations. The buyback aims to optimize capital structure but does not obligate the company to repurchase any set amount of shares. As of September 30, 2022, Prosperity Bancshares operates 272 banking locations primarily in Texas and Oklahoma, with a market capitalization of approximately $37.844 billion.

Prosperity Bancshares, Inc. (NYSE: PB) has announced its Fourth Quarter 2022 Earnings Conference Call, scheduled for January 25, 2023, at 10:30 AM Central Time. The call will feature members of the executive management team and can be accessed via the company's website or by phone. As of September 30, 2022, Prosperity Bancshares is a $37.844 billion financial holding company based in Houston, Texas, providing banking and investment services across Texas and Oklahoma.