PROSPERITY BANCSHARES, INC.® ANNOUNCES COMMON STOCK DIVIDEND

Rhea-AI Summary

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.

Positive

• Declared quarterly dividend of $0.56 per share
• Substantial asset base of $38.757 billion
• Extensive network of 288 full-service banking locations
• Diverse range of financial products and services offered

Negative

• None.

HOUSTON, July 17, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.^® (NYSE: PB) today announced that its Board of Directors declared a quarterly common stock dividend of $0.56 per share for the third quarter of 2024, payable October 1, 2024, to shareholders of record as of September 13, 2024.

Prosperity Bancshares, Inc.^®

As of March 31, 2024, Prosperity Bancshares, Inc.^® is a $38.757 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma.

Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and cash management.

Prosperity currently operates 288 full-service banking locations: 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 62 in the Dallas/Fort Worth area; 22 in the East Texas area; 31 in the Central Texas area including Austin and San Antonio; 44 in the West Texas area including Lubbock, Midland-Odessa, Abilene, Amarillo and Wichita Falls; 15 in the Bryan/College Station area, 6 in the Central Oklahoma area; 8 in the Tulsa, Oklahoma area; and 5 in the West Texas area currently doing business as Lone Star Bank.

Cautionary Notes on Forward-Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as "aim," "anticipate," "estimate," "expect," "goal," "guidance," "intend," "is anticipated," "is expected," "is intended," "objective," "plan," "projected," "projection," "will affect," "will be," "will continue," "will decrease," "will grow," "will impact," "will increase," "will incur," "will reduce," "will remain," "will result," "would be," variations of such words or phrases (including where the word "could," "may," or "would" is used rather than the word "will" in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries. These forward-looking statements may include information about Prosperity's possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for loan losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity's future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity's loan portfolio and allowance for loan losses, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity's future operations, future or proposed acquisitions, the future or expected effect of acquisitions on Prosperity's operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of a proposed transaction, and statements about the assumptions underlying any such statement. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of Prosperity's control, which may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); the possibility that the anticipated benefits of an acquisition transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of two companies or as a result of the strength of the economy and competitive factors generally; a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity's securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; economic conditions, including currency rate, interest rate and commodity price fluctuations; and weather. These and various other factors are discussed in Prosperity Bancshares' Annual Report on Form 10-K for the year ended December 31, 2023 and other reports and statements Prosperity Bancshares has filed with the Securities and Exchange Commission ("SEC"). Copies of the SEC filings for Prosperity Bancshares may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.

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SOURCE Prosperity Bancshares, Inc.

FAQ

What is the dividend amount and payment date for Prosperity Bancshares (PB) in Q3 2024?

Prosperity Bancshares (PB) declared a quarterly dividend of $0.56 per share for Q3 2024, payable on October 1, 2024, to shareholders of record as of September 13, 2024.

How many full-service banking locations does Prosperity Bancshares (PB) operate as of July 2024?

As of July 2024, Prosperity Bancshares (PB) operates 288 full-service banking locations across Texas and Oklahoma.

What was Prosperity Bancshares' (PB) total asset value as of March 31, 2024?

As of March 31, 2024, Prosperity Bancshares (PB) had a total asset value of $38.757 billion.

In which states does Prosperity Bancshares (PB) primarily operate?

Prosperity Bancshares (PB) primarily operates in Texas and Oklahoma, providing financial services across various regions in these states.