PB - Prosperity Bancshares gets regulatory OK to complete First Bancshares deal
2023-04-17 15:11:46 ET
- Prosperity Bancshares ( NYSE: PB ) stock advanced 2.7% in Monday mid-afternoon trading as the regional lender received regulatory approval to complete its previously announced takeover of First Bancshares of Texas .
- The deal is slated to be effective on May 1.
- First Bancshares is the parent company of FirstCapital Bank of Texas, which operates 16 banking centers in six different markets in West, North and Central Texas.
- On a consolidated basis, First Bancshares had total assets of $2.16B, total loans of $1.64B and total deposits of $1.80B as of Dec. 31, 2022.
- In October, 2022, Prosperity Bancshares to acquire Lone Star State Bancshares, unit.
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Prosperity Bancshares gets regulatory OK to complete First Bancshares deal