M&A Deal Summary

Prosperity Bank Acquires First Bank 19 Texas Retail Branches

On February 8, 2010, Prosperity Bank acquired financial services company First Bank 19 Texas Retail Branches

Acquisition Highlights
  • This is Prosperity Bank’s 2nd transaction in the Financial Services sector.
  • This is Prosperity Bank’s 2nd transaction in the United States.
  • This is Prosperity Bank’s 2nd transaction in Texas.

M&A Deal Summary
Date 2010-02-08
Target First Bank 19 Texas Retail Branches
Sector Financial Services
Buyer(s) Prosperity Bank
Deal Type Add-on Acquisition

Target

First Bank 19 Texas Retail Branches

Texas, United States
First Bank (St. Louis, MO), 19 Texas Retail Branches comprises 19 retail bank branches, which provide commercial and personal banking services. The branches are located in Houston and Dallas, Texas.

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Buyer(S) 1

Buyer

Prosperity Bank

Houston, Texas, United States
Category Company
Founded 1983
Sector Financial Services
Employees3,901
Revenue 1.1B USD (2023)
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 2 of 14
Sector (Financial Services) 2 of 14
Type (Add-on Acquisition) 2 of 14
State (Texas) 2 of 12
Country (United States) 2 of 14
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-21 MainBancorp N.A.

Austin, Texas, United States

A community bank holding company which has multiple locations in Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Texas Bankers

Austin, Texas, United States

Texas Bankers, Inc. operates three banking offices in the Austin, Texas CMSA including a location in Rollingwood, which will be consolidated with Prosperity’s Westlake location and remain in Bank of Texas’ Rollingwood banking office; one in downtown Austin which will be consolidated into Prosperity’s downtown Austin location and another in Thorndale. Bank of Texas reported total assets of $72.5 million, loans of $29.7 million and deposits of $64.2 million.

Buy -
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