Profile: Prosperity Bancshares Inc (PB)
16 Mar 2018
Prosperity Bancshares, Inc., incorporated on December 22, 1983, is a financial holding company, which 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. The Company, through the Bank, offers a range of loan and deposit products to its customers, which consist primarily of consumers, and small and medium-sized businesses. At December 31, 2016, the Bank maintained approximately 598,400 separate deposit accounts, including certificates of deposit and 53,600 separate loan accounts. As a real estate lender, the Company offered commercial real estate (including multifamily residential) and one- to four-family residential loans, as of December 31, 2016.
As of December 31, 2016, the Bank operated 245 full service banking locations; 65 in the Houston area, including The Woodlands; 29 in the South Texas area, including Corpus Christi and Victoria; 36 in the Dallas/Fort Worth area; 22 in the East Texas area; 29 in the Central Texas area, including Austin and San Antonio; 34 in the West Texas area, including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area, six in the Central Oklahoma area and eight in the Tulsa, Oklahoma area. The Company maintained a trust department with $1.68 billion in assets under management, as of December 31, 2016. The trust department provides trust services in the Company's various market areas. Its subsidiaries include Coppermark Card Services, Inc., Citizens Insurance Agency of Texas, Inc. and HSUMY, Inc.
The Company offers commercial loans, loans for automobiles and other consumer durables, home equity loans, debit and credit cards, Internet banking and other cash management services, mobile banking, trust and wealth management, retail brokerage services, mortgage banking services and automated telephone banking. The Company offers businesses a range of loan products, including term loans, lines of credit, and loans for working capital, business expansion and the purchase of equipment and machinery; land development and interim construction loans for builders, and owner-occupied and non-owner-occupied commercial real estate loans. The Company's total loans were $9.62 billion at December 31, 2016.
At December 31, 2016, the carrying amount of investment securities totaled $9.73 billion. As of December 31, 2016, its available-for-sale securities totaled $221.176 million. As of December 31, 2016, its held-to-maturity securities totaled $9.339 billion.
Sources of Funds
The Company offers its depositors a range of deposit products, such as certificates of deposit, interest checking accounts, savings accounts and overdraft protection at competitive rates. As of December 31, 2016, the Company had total deposits of $17.31 billion.
Prosperity Bancshares Inc
4295 San Felipe St
HOUSTON TX 77027-2942