Prosperity Bancshares (PB) Gets Regulatory Nod to Buy Lone Star [Yahoo! Finance]
Prosperity Bancshares, Inc. (PB)
Last prosperity bancshares, inc. earnings: 4/29 06:30 am
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US:NYSE Investor Relations:
prosperitybankusa.com/press.aspx
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Source: Yahoo! Finance
The deal is now expected to be effective as of Apr 1, 2024, subject to customary closing conditions. The deal, announced in October 2022, received the Lone Star shareholders' approval in March 2023. Lone Star operates five banking offices located in West Texas. As of Dec 31, 2023, Lone Star had total assets of $1.37 billion, total loans of $1.08 billion and total deposits of $1.21 billion. Following the completion, PB will expand its West Texas footprint to 49 banking centers. Under the terms of the transaction, Prosperity Bancshares will issue 2.38 million shares along with $64.1 million in cash. Based on its closing price of $69.27 on Oct 7, 2022, the total consideration has been valued at roughly $228.7 million. Alan Lackey, CEO of Lone Star, and Melisa Roberts, Chief Lending Officer of Lone Star, will be leading Prosperity Bank's West Texas Area department, as President and Vice President, respectively. Other members of Lone Star management will retain leadership roles in
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- Jesse Cardenas named Abilene Regional President of Prosperity Bank [Yahoo! Finance]Yahoo! Finance
- Prosperity Bancshares (PB) Q1 Earnings Beat, Stock Rises 3.8% [Yahoo! Finance]Yahoo! Finance
- Prosperity Bancshares, Inc. (NYSE:PB) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Prosperity Bancshares First Quarter 2024 Earnings: EPS Beats Expectations [Yahoo! Finance]Yahoo! Finance
PB
Earnings
- 4/24/24 - Beat
PB
Sec Filings
- 4/24/24 - Form 8-K
- 4/17/24 - Form 8-K
- 4/17/24 - Form 4
- PB's page on the SEC website