Prosperity Bancshares, Inc. is a bank holding company operating in various areas in Texas and central Oklahoma. The company is headquartered in Houston, Texas.
The company (through its main subsidiary, Prosperity Bank) operates (as of January 4, 2016) 248 branch locations, organized as follows:
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.
Beginning in the late 1980s, the company acquired several small- and medium-sized bank holding companies, all of which were located in Texas (except for Coppermark and F&M, which were headquartered in Oklahoma but each had Texas branch locations), and some of which had failed and were taken over by the Federal Deposit Insurance Corporation (FDIC). Notable acquisitions include:
On December 28, 2011, the company began trading on the NYSE. It previously traded on NASDAQ under the symbol PRSP.
Prosperity Bancshares was named by Forbes as "America's Best Bank" in 2012, a feat which it repeated in 2014.