Austin’s Prosperity Bank Acquires American Bank in $321.5 Million Deal
Austin-based Prosperity Bank has announced the acquisition of Corpus Christi-based American Bank in a transaction valued at $321.5 million. The deal, expected to close next year, significantly expands Prosperity’s footprint in South and Central Texas.
American Bank currently operates 18 branches, including seven in San Antonio and one in Austin. With the acquisition, Prosperity will double its branch presence in the San Antonio metro area, increasing from seven to 14 locations.
Prosperity Bank Chairman and CEO David Zalman highlighted the strategic value of the acquisition, stating, “Our banks have a complementary footprint, and we are familiar with and remain committed to the communities that American Bank serves, including with both financial products and community support. This combination will strengthen our presence and operations in South Texas and surrounding areas and enhance our presence in Central Texas, including in San Antonio, a highly desirable, high-growth area.”
Founded in 2004, Prosperity Bank is one of the largest financial institutions in the Austin region. It recently ranked No. 9 among banks with a physical branch presence in the area.
This acquisition signals Prosperity Bank’s continued investment in key Texas markets and its long-term commitment to regional growth and community development.
