| Founded | Houston, Texas (1983) |
|---|---|
| Headquarters | Houston, Texas |
| Products | Banking |
| Revenue | $111.879M (as of December 31, 2009) |
| Employees | 1,594 (full-time equivalent) |
| Website | www.prosperitybanktx.com |
Prosperity Bancshares, Inc. (NASDAQ: PRSP) is a bank holding company operating in various areas in Texas. The company is headquartered in Houston, Texas.
The company operates through its main subsidiary Prosperity Bank, The bank operates (as of September 13, 2011)[1] 175 branch locations, organized as follows:
The number does not include three branches which the company is in the process of acquiring from Texas Bankers, Inc.; these branches are located in the Austin area of which two will be consolidated with existing branches and the third added to the network[2], nor does it include four branches (three in Tyler and one in Gilmer) which the company is purchasing from East Texas Financial Services, Inc.[3]
The company was formed in 1983 as a vehicle to purchase a former Allied Bank branch in Edna, Texas. The Edna bank dated back to 1949 as the First National Bank of Edna.[4]
Beginning in the late 1980s, the company acquired several small- and medium-sized bank holding companies, all of which were located in Texas and several of which had failed and were taken over by the Federal Deposit Insurance Corporation (FDIC). The largest acquisition to date was the 45-branch Franklin Bank in 2008, another Houston-based bank which the FDIC had taken over.