M&A Deal Summary

Prosperity Bank Acquires LegacyTexas Financial Group

On June 17, 2019, Prosperity Bank acquired financial services company LegacyTexas Financial Group for 2.1B USD

Acquisition Highlights
  • This is Prosperity Bank’s 12th transaction in the Financial Services sector.
  • This is Prosperity Bank’s largest (disclosed) transaction.
  • This is Prosperity Bank’s 12th transaction in the United States.
  • This is Prosperity Bank’s 10th transaction in Texas.

M&A Deal Summary
Date 2019-06-17
Target LegacyTexas Financial Group
Sector Financial Services
Buyer(s) Prosperity Bank
Deal Type Add-on Acquisition
Deal Value 2.1B USD
Advisor(s) J.P. Morgan Securities (Financial)
Otteson Shapiro (Legal)

Target

LegacyTexas Financial Group

Plano, Texas, United States
website
LegacyTexas Financial Group is a bank holding company based in Plano, Texas. The company's holdings will include LegacyTexas Bank, which will also operate as ViewPoint Bank and First National Bank of Jacksboro. LegacyTexas Financial Group was founded in 1952 and is based in Plano, Texas.

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Buyer(S) 1

Buyer

Prosperity Bank

Houston, Texas, United States

website

Category Company
Founded 1983
Sector Financial Services
Employees3,633
Revenue 1.1B USD (2022)
DESCRIPTION

Prosperity Bank provides a line of financial products and services to small and medium-sized businesses, and consumers. Prosperity Bank was founded in 1983 and is based in Houston, Texas.

DEAL STATS #
Overall 12 of 14
Sector (Financial Services) 12 of 14
Type (Add-on Acquisition) 12 of 14
State (Texas) 10 of 12
Country (United States) 12 of 14
Year (2019) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-06 Tradition Bancshares

Houston, Texas, United States

Tradition Bancshares, Inc. is a provider of financial services.

Buy $39M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Lone Star State Bank

Lubbock, Texas, United States

Lone Star State Bank operates five 5 banking offices in the West Texas area, including its main office in Lubbock, and one banking center in each Brownfield, Midland, Odessa, and Big Spring, Texas. Lone Star State Bank is based in Lubbock, Texas.

Buy $229M
Mergr

Product

Company

Legal