Prosperity Bancshares, Inc. is a financial holding company.
The company operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers.
Prosperity is the second largest bank headquartered in Texas (behind Frost). Unlike Frost, Prosperity is a serial acquirer. The bank was formed in 1983 to acquire the former Allied Bank in Edna, Texas. During the 1980s, Texas banks began failing in huge numbers. In 1986 alone, a total of 175 Texas banks failed. Prosperity was able to grow by acquiring failed Texas banks.
The Bank operates 245 full service banking locations, including 62 in the Houston area, 30 in the South Texas area, 36 in the Dallas/Fort Worth area, 22 in the East Texas area, 30 in the Central Texas area, 34 in the West Texas area, 16 in the Bryan/College Station area, six in the Central Oklahoma area and nine in the Tulsa, Oklahoma area.
Prosperity has an unusually high earning power on its deposits. Discover why Prosperity is able to gather each dollar of deposits more cheaply than other banks and then make more money per dollar of loans it makes.