PB - Prosperity Bancshares: Cost Savings Paycheck Protection Program To Support Earnings
Earnings of Prosperity Bancshares, Inc. (PB) surged to $1.41 per share in the second quarter from $1.39 per share in the first quarter of 2020. The earnings increase was mostly attributable to a surge in loans. Earnings in the second half of the year will likely increase on a year-over-year basis because of the accelerated booking of fees under the Paycheck Protection Program. Moreover, the non-interest expense will likely decline in the remainder of the year following the core systems conversion of LegacyTexas Bank. On the other hand, further net interest margin compression will pressurize