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 a net income of $128.5 million and earnings per share of $1.40 for Q2 2022, a slight decline from $130.6 million and $1.41 in Q2 2021. Total loans rose by $406.9 million or 2.4% compared to the previous quarter. The allowance for credit losses stood at $313.9 million, maintaining a low rate of 0.07% for nonperforming assets. Prosperity repurchased 981,884 shares during the quarter. Total assets increased to $37.387 billion, reflecting a 3.6% year-over-year growth.
Prosperity Bancshares, Inc. (NYSE: PB) has declared a quarterly dividend of $0.52 per share for Q2 2022, payable on October 3, 2022 to shareholders recorded by September 15, 2022. As of March 31, 2022, the company boasts assets of $38.271 billion and operates 272 banking locations across Texas and Oklahoma. Founded in 1983, Prosperity focuses on community banking, offering a range of services including digital banking, brokerage, and wealth management.
Prosperity Bancshares, Inc. (NYSE: PB) will announce its Second Quarter 2022 Earnings on July 27, 2022, before market opening. A conference call is scheduled for 10:30 AM CT, featuring Prosperity's executive management team. Participants can join via the web or by calling 1-877-883-0383 for domestic listeners or 1-412-902-6506 for international. The call will be archived for later access on Prosperity's website, allowing investors to follow the company's performance and insights.
Prosperity Bancshares reported Q1 2022 net income of $122.3 million or $1.33 per share, down from $133.3 million and $1.44 in Q1 2021. Deposits rose by $296.5 million (1.0%, 3.9% annualized) while loans decreased by 2.9% linked quarter. Nonperforming assets remain low at 0.08% of average interest-earning assets. The allowance for credit losses on loans stands at 1.71%. Prosperity was ranked #6 in Forbes' America's Best Banks for 2022, highlighting its strong performance.
Prosperity Bancshares, Inc. (NYSE: PB) declared a quarterly dividend of $0.52 per share for Q2 2022, payable on July 1, 2022, to shareholders of record as of June 15, 2022. As of December 31, 2021, Prosperity, based in Houston, Texas, reported total assets of $37.834 billion and operates 273 banking locations across Texas and Oklahoma. The company provides a range of financial services, including banking, investments, and wealth management, underpinned by a community banking philosophy.
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.
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