HOUSTON, Nov. 26, 2012 /PRNewswire/ -- Prosperity Bancshares, Inc. ® (NYSE: PB) (Prosperity), the parent company of Prosperity Bank ®, announced that James D. Rollins III, President and Chief Operating Officer of Prosperity and President of Prosperity Bank has resigned to pursue another opportunity. "On behalf of everyone at Prosperity, we would like to thank Dan for the many contributions he has made to the organization over the years. We are excited for Dan in his new role and we wish him success in his new endeavor," commented David Zalman, Chairman and Chief Executive Officer of Prosperity. Prosperity Bank has a strong executive management team and for the present time, Mr. Rollins' responsibilities at Prosperity and Prosperity Bank will be divided among members of the Bank's Executive Committee, which consists of David Zalman – Senior Chairman and Chief Executive Officer, H.E. Timanus, Jr. – Chairman and Chief Operating Officer, David Hollaway – Chief Financial Officer, Chris Bagley – Chief Credit Officer, Randy Hester – Chief Lending Officer and Charlotte Rasche – General Counsel. These individuals have a significant amount of experience in the banking industry and Prosperity expects a smooth transition of Dan's duties. David Zalman will assume the titles of President of Prosperity and Prosperity Bank. Prosperity Bancshares, Inc. ® Prosperity Bancshares, Inc. ®, recently named "America's Best Bank" by Forbes, is a $13.9 billionHouston, 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 two hundred thirteen (213) full service banking locations; fifty-nine (59) in the Houston area; twenty (20) in the South Texas area including Corpus Christi and Victoria; thirty-five (35) 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; thirty-four (34) in the West Texas area including Lubbock, Midland/ Odessa and Abilene; and ten (10) in the Bryan/College Station area. In connection with the proposed merger of East Texas Financial Services, Inc. into Prosperity, Prosperity has filed 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 includes a proxy statement/prospectus which was sent to the stockholders of East Texas Financial Services seeking their approval of the proposed transaction.