Prosperity Bancshares, Inc. (N:PB)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 4295 San Felipe HOUSTON TX 77027 |
| Tel: | N/A |
| Website: | https://www.prosperitybankusa.com/Personal |
| IR: | See website |
| Key People | ||
| David Zalman Senior Chairman of the Board, Chief Executive Officer of the Company and Bank | H. E. Timanus Chairman of the Board; Chief Operating Officer of the Bank | Kevin J. Hanigan President, Chief Operating Officer, Director |
| Edward Z. Safady Advisory Director and Vice Chairman of the Company; Director and Vice Chairman of the Bank | Asylbek Osmonov Chief Financial Officer of the Company and the Bank | Charlotte M. Rasche Executive Vice President, General Counsel; Senior Executive Vice President and General Counsel of the Bank |
| J. Mays Davenport Executive Vice President, Director - Corporate Strategy; Senior Executive Vice President, Director of Corporate Strategy of the Bank | Robert J. Dowdell Executive Vice President; Senior Executive Vice President of the Bank | Randy Hester Executive Vice President; Senior Executive Vice President, Chief Lending Officer of the Bank |
| Business Overview |
| Prosperity Bancshares, Inc. is a regional financial holding company providing personal banking services and investments to consumers and businesses throughout Texas and Oklahoma. The Company's traditional deposit products include certificates of deposit, interest-checking accounts, money market accounts and savings accounts. It also offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management. It operates around 288 full-service banking locations: 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 62 in the Dallas/Fort Worth area; 22 in the East Texas area; 31 in the Central Texas area including Austin and San Antonio; 49 in the West Texas area including Lubbock, Midland-Odessa, Abilene, Amarillo and Wichita Falls; 15 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Prosperity Bancshares, Inc. interest income increased 32% to $1.44B. Net interest income after loan loss provision decreased 7% to $937.9M. Net income decreased 20% to $419.3M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 7% to 2.78%. Net income also reflects Deposits increase from $68.1M to $272.3M (expense). |
| Employees: | 3,850 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $9,440M as of Dec 31, 2023 |
| Annual revenue (TTM): | $1,445M as of Dec 31, 2023 |
| EBITDA (TTM): | $786.91M as of Dec 31, 2023 |
| Net annual income (TTM): | $419.32M as of Dec 31, 2023 |
| Free cash flow (TTM): | $406.49M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $3,576M as of Dec 31, 2023 |
| Shares outstanding: | 93,529,541 as of Feb 26, 2024 |
| Index Membership: | S&P 400 Mid Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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