Prosperity Bancshares Inc - PB STOCK NEWS

Prosperity Bancshares, Inc. (NYSE: PB) will announce its First Quarter 2022 earnings on April 27, 2022, before the market opens. A conference call featuring the executive management team is scheduled for 10:30 AM Central Time. Participants can join via the provided web link or by calling 1-877-883-0383 (domestic) or 1-412-902-6506 (international) using the Entry Number: 4266827. For those unable to attend the live session, an archived version will be available on the company's investor relations website.

Prosperity Bancshares, Inc. (NYSE: PB) reported a net income of $126.8 million for Q4 2021, down 7.5% from Q4 2020. Net income per diluted share was $1.38, a 6.8% decrease year-over-year. Loans increased $76.7 million (0.5%) and deposits surged by $1.32 billion (4.5%) during the quarter. Nonperforming assets remained low at 0.09% of interest-earning assets. The bank anticipates future loan growth in Texas and Oklahoma, backed by economic expansion and a favorable business environment.

Prosperity Bancshares, Inc. (NYSE: PB) declared a quarterly dividend of $0.52 per share, payable on April 1, 2022, to shareholders of record on March 15, 2022. As of September 30, 2021, the company, based in Houston, Texas, reported assets of $36.512 billion. Prosperity offers a range of banking services, including traditional deposit and loan products, digital solutions, and wealth management. With 273 locations across Texas and Oklahoma, the company aims to support customers and communities in their financial needs.

Prosperity Bancshares, Inc. (NYSE: PB) has authorized a stock repurchase program allowing the company to buy back up to 5% of its outstanding common stock, equating to approximately 4.6 million shares, over a year, ending January 18, 2023. The buyback will occur in open market transactions based on market conditions and corporate priorities. The program provides flexibility and does not commit the company to a specific number of shares. This move reflects the company's intent to enhance shareholder value through the management of its stock capital.

Prosperity Bancshares, Inc. (NYSE: PB) reported net income of $128.6 million for Q3 2021, a decrease from $130.1 million in Q3 2020. Net income per share fell to $1.39 from $1.40 year-over-year. Loans, excluding PPP loans, rose $217.6 million (1.3%), while deposits increased $341.4 million (1.2%). The board approved a 6.1% dividend increase to $0.52 per share. Despite low nonperforming assets at 0.11%, net interest income declined $9.5 million (3.7%) due to falling loan rates. Total assets reached $36.512 billion, up 10% year-over-year.

Prosperity Bancshares, Inc. (NYSE: PB) has declared a quarterly common stock dividend of $0.52 per share for Q4 2021, marking a 6.1% increase from the previous quarter. This dividend is payable on January 3, 2022, to shareholders recorded as of December 15, 2021. With total assets of $36.1 billion as of June 30, 2021, the company continues to provide a range of banking services across Texas and Oklahoma, maintaining a robust community banking philosophy.

Prosperity Bancshares, Inc. (NYSE: PB) will announce its Third Quarter 2021 earnings on October 27, 2021, before market opening. A conference call is scheduled for the same day at 10:30 AM CT, featuring the executive management team. Participants can join via the provided web link or by calling 1-877-883-0383 for domestic calls and 1-412-902-6506 for international calls. As of June 30, 2021, Prosperity Bancshares reported $36.1 billion in assets and operates 273 banking locations across Texas and Oklahoma.

Prosperity Bancshares, Inc. (NYSE: PB) reported a net income of $130.6 million for Q2 2021, a slight decline from $130.9 million in Q2 2020. The net income per diluted share remained stable at $1.41. While loans decreased by 8.4% year-over-year, deposits rose by 11.3%. Noninterest income grew by 38.5% to $35.6 million. The efficiency ratio improved to 40.96%, showing effective cost management. The company continues to navigate economic uncertainties stemming from COVID-19, maintaining strong asset quality with nonperforming assets at just 0.11%.

Prosperity Bancshares will announce its Second Quarter 2021 earnings on July 28, 2021, with a conference call at 10:30 AM CT. The call will include executive management and is accessible via the company's website or by phone. As of March 31, 2021, Prosperity holds approximately $35.558 billion in assets and operates 274 banking locations across Texas and Oklahoma, offering a range of financial services, from traditional banking to wealth management. The release also includes a forward-looking statements disclaimer, emphasizing potential risks affecting future performance.