HOUSTON, Feb. 12, 2019 /PRNewswire/ -- Prosperity
Bancshares, Inc.® (NYSE: PB) today announced the
retirement of David Hollaway, Chief
Financial Officer of Prosperity Bancshares and Prosperity Bank (the
"Bank"), effective April 1, 2019. Mr.
Hollaway served as CFO since joining the Bank in 1992.
Following his retirement as CFO, Mr. Hollaway plans to continue to
work with the Bank in a reduced capacity for at least two years,
assisting with the transition of his duties and other financial and
operational matters. Prosperity has initiated a search for a
successor.
"On behalf of the Board and management team, I thank Dave for
the significant contributions that he has made to Prosperity over
the years, helping it grow from $203
million in assets in 1992 to $23
billion in assets today. As Dave transitions his CFO
responsibilities, he leaves behind a highly efficient and
disciplined operational foundation, positioning the company well
for continued success. We wish him the best in his
retirement," commented David Zalman,
Chairman and Chief Executive Officer.
Prosperity Bancshares, Inc.®
As of December 31, 2018,
Prosperity Bancshares, Inc.® is a $22.693 billion Houston, Texas based regional financial
holding company, formed in 1983. Operating under a community
banking philosophy and seeking to develop broad customer
relationships based on service and convenience, Prosperity offers a
variety of traditional loan and deposit products to its customers,
which consist primarily of small and medium sized businesses and
consumers. In addition to established banking products,
Prosperity offers a complete line of services including: Internet
Banking services at http://www.prosperitybankusa.com, Retail
Brokerage Services, Credit Cards, MasterMoney Debit Cards, 24-hour
voice response banking, Trust and Wealth Management, Mortgage
Services, Cash Management, and Mobile Banking.
Prosperity currently operates 242 full-service banking
locations: 65 in the Houston area,
including The Woodlands; 29 in the
South Texas area including
Corpus Christi and Victoria; 33 in the Dallas/Fort Worth area; 22 in the East Texas area; 29 in the Central Texas area including Austin and San
Antonio; 34 in the West
Texas area including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area, 6 in the
Central Oklahoma area and 8 in the
Tulsa, Oklahoma area.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: This release contains
forward-looking statements within the meaning of the securities
laws that are based on current expectations, assumptions, estimates
and projections about Prosperity Bancshares and its
subsidiaries. These forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of Prosperity's control,
which may cause actual results to differ materially from those
expressed or implied by the forward-looking statements. These
risks and uncertainties include but are not limited to whether
Prosperity can: successfully identify acquisition targets and
integrate the businesses of acquired companies and banks; continue
to sustain its current internal growth rate or total growth rate;
provide products and services that appeal to its customers;
continue to have access to debt and equity capital markets; and
achieve its sales objectives. Other risks include, but are
not limited to: the possibility that credit quality could
deteriorate; actions of competitors; changes in laws and
regulations (including changes in governmental interpretations of
regulations and changes in accounting standards); a deterioration
or downgrade in the credit quality and credit agency ratings of the
securities in Prosperity's securities portfolio; customer and
consumer demand, including customer and consumer response to
marketing; effectiveness of spending, investments or programs;
fluctuations in the cost and availability of supply chain
resources; economic conditions, including currency rate, interest
rate and commodity price fluctuations; and weather. These and
various other factors are discussed in Prosperity Bancshares'
Annual Report on Form 10-K for the year ended December 31, 2017 and other reports and
statements Prosperity Bancshares has filed with the SEC.
Copies of the SEC filings for Prosperity Bancshares® may
be downloaded from the Internet at no charge
from http://www.prosperitybankusa.com.
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SOURCE Prosperity Bancshares, Inc.