Prosperity Bancshares Inc - PB STOCK NEWS

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.

Prosperity Bancshares reported a net income of $133.3 million for Q1 2021, up from $130.8 million YoY, translating to $1.44 per diluted share.

Deposits rose 20.7% YoY to $28.763 billion. Loan balances increased 2.7% to $19.639 billion, despite a 3.0% linked quarter decline.

Nonperforming assets remained low at 0.15%. A cash dividend of $0.49 per share was declared for Q2 2021.

Prosperity Bancshares, Inc. (NYSE: PB) will announce its First Quarter 2021 earnings on April 28, 2021, at 10:30 AM Central Time, followed by a conference call with executive management. The call can be accessed via the provided web link or by phone at 1-877-883-0383 for domestic and 1-412-902-6506 for international participants. The company, based in Houston, Texas, with a portfolio of $34.059 billion, emphasizes community banking and serves consumers and businesses in Texas and Oklahoma. An archived version of the call will be available on their website.

Prosperity Bancshares (NYSE: PB) reported a robust net income of $137.1 million for Q4 2020, significantly up from $86.1 million in Q4 2019. Earnings per diluted share reached $1.48, a 46.5% increase year-over-year. The bank's deposits surged by $901.3 million (3.4%) in Q4. For the full year, net income totaled $528.9 million, reflecting a 59% increase, driven by the merger with LegacyTexas. However, challenges such as potential tax hikes and low interest rates remain a concern.

On January 26, 2021, Prosperity Bancshares (NYSE: PB) authorized a stock repurchase program to buy back up to 5% of its outstanding shares, approximately 4.65 million shares, over a one-year period ending January 26, 2022. The repurchases will depend on various factors, including market conditions and corporate priorities. The company does not guarantee the exact number of shares to be repurchased and may modify or terminate the program at any time. Prosperity Bancshares operates 275 banking locations across Texas and Oklahoma, focusing on personal and small business financial services.

Prosperity Bancshares, Inc. (NYSE: PB) will announce its Fourth Quarter 2020 earnings on January 27, 2021, before market opening. A conference call will be held at 10:30 AM CT featuring executive management. Interested parties can access the call via the provided link or by phone. Prosperity Bancshares operates as a regional financial holding company with a focus on personal banking, offering services across Texas and Oklahoma, as of September 30, 2020, with assets totaling $33.198 billion.

Prosperity Bancshares, Inc. (NYSE: PB) reported a net income of $130.1 million for Q3 2020, up 59.1% from $81.8 million in Q3 2019. Earnings per share rose to $1.40, reflecting a 17.6% increase year-over-year. Deposits grew by $306.5 million, and nonperforming assets remained low at 0.24% of average interest-earning assets. The Board approved a 6.5% dividend increase, now set at $0.49 per share. Although the net interest income before provision for credit losses was $258.1 million, it slightly decreased by 0.3% from the previous quarter. Overall, strong financial metrics highlight the company's robust position.

Prosperity Bancshares, Inc. (NYSE: PB) will announce its Third Quarter 2020 Earnings on October 28, 2020, before market open. The earnings call is scheduled for 11:30 AM ET and will include participation from Prosperity's executive management team. Investors can access the call via the web or through designated phone lines. As of June 30, 2020, the company, based in Houston, Texas, reported a total asset base of $33.0 billion and operates 275 banking locations across Texas and Oklahoma.