**Prosperity Bancshares Acquires Texas Partners Bank, Plans Rebranding**
Prosperity Bancshares Inc., the parent company of Prosperity Bank, has announced the acquisition of Texas Partners Bank in an all-stock transaction valued at approximately $268.9 million. As part of the merger, Texas Partners Bank will be rebranded under the Prosperity name.
Prior to the acquisition, Texas Partners Bank held nearly $2.52 billion in assets and operated 11 branches serving Central and South Texas. With the completion of the merger, Prosperity Bank has effectively doubled its presence in the San Antonio metropolitan area—from seven to 14 locations—thanks also to the earlier addition of American Bank’s seven local branches.
Today, Prosperity Bank operates over 300 banking locations, including 36 branches in South Texas (such as Corpus Christi and Victoria) and 28 in the Central Texas region.
To complete the acquisition, Prosperity Bancshares plans to issue more than 4.06 million shares of its common stock. Headquartered in Texas, Prosperity Bancshares (NYSE: PB) is a regional financial holding company with $38.3 billion in assets, serving communities across Texas and Oklahoma.
