HOUSTON, Jan. 3, 2012 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE: PB) completed the previously announced acquisition of Texas Bankers, Inc. and its wholly-owned subsidiary, Bank of Texas, Austin, Texas. The transaction continues Prosperity's strategic growth and expansion of the franchise in Central Texas.
Prosperity, which began trading on the New York Stock Exchange (NYSE) under the symbol "PB" on Wednesday, December 28, 2011, was recently named the #1 bank in America by Forbes in their "2012 Best Banks in America" report.
The three (3) Bank of Texas banking offices in the Austin, Texas CMSA consist of a location in Rollingwood, which will be consolidated with Prosperity's Westlake location and remains in the old Bank of Texas' Rollingwood banking office; one banking center in downtown Austin, which will be consolidated into Prosperity's downtown Austin location; and another banking center in Thorndale. Prosperity will now operate thirty-four (34) banking centers in the Central Texas area including Austin and San Antonio.Texas Bankers, Inc. reported total deposits of $63.1 million, total loans of $30.5 million and total assets of $70.7 million on September 30, 2011.
Prosperity Bancshares, Inc.® Prosperity Bancshares, Inc.®, recently named "America's Best Bank" by Forbes, is a $9.6 billion Houston, Texas based regional financial holding company, formed in 1983. Operating under a community banking philosophy and seeking to develop broad customer relationships based on service and convenience, Prosperity offers a variety of traditional loan and deposit products to its customers, which consist primarily of small and medium sized businesses and consumers. In addition to established banking products, Prosperity offers a complete line of services including: Internet Banking services at http://www.prosperitybanktx.com, Retail Brokerage Services, MasterMoney Debit Cards, and 24 hour voice response banking. Prosperity currently operates one hundred seventy six (176) full service banking locations; sixty (60) in the Houston area; twenty (20) in the South Texas area including Corpus Christi and Victoria; thirty-one (31) in the Dallas/Fort Worth area; twenty-one (21) in the East Texas area; thirty-four (34) in the Central Texas area including Austin and San Antonio; and ten (10) in the Bryan/College Station area. In connection with the proposed merger of East Texas Financial Services, Inc. into Prosperity, Prosperity will file with the Securities and Exchange Commission a registration statement on Form S-4 to register the shares of Prosperity's common stock to be issued to the stockholders of East Texas Financial Services. The registration statement will include a proxy statement/prospectus which will be sent to the stockholders of East Texas Financial Services seeking their approval of the proposed transaction.
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