HOUSTON, Oct. 18,
2023 /PRNewswire/ -- Prosperity Bancshares,
Inc.® (NYSE: PB) today announced that its Board of
Directors declared a quarterly common stock dividend of
$0.56 per share for the fourth
quarter of 2023, payable January 2,
2024, to shareholders of record as of December 15, 2023. The fourth quarter
dividend represents an increase of $0.01 per share, or 1.82%, from the prior
quarter.
Prosperity Bancshares, Inc.®
As of June 30, 2023, Prosperity
Bancshares, Inc.® is a $39.905
billion Houston, Texas
based regional financial holding company providing personal banking
services and investments to consumers and small to medium sized
businesses throughout Texas and
Oklahoma.
Founded in 1983, Prosperity believes in a community banking
philosophy, taking care of customers, businesses, and communities
in the areas it serves by providing financial solutions to simplify
everyday financial needs. In addition to offering traditional
deposit and loan products, Prosperity offers digital banking
solutions, credit and debit cards, mortgage services, retail
brokerage services, trust and wealth management, and cash
management.
Prosperity currently operates 285 full-service banking
locations: 65 in the Houston area,
including The Woodlands; 30 in the
South Texas area including
Corpus Christi and Victoria; 62 in the Dallas/Fort Worth area; 22 in the East Texas area; 32 in the Central Texas area including Austin and San
Antonio; 44 in the West
Texas area including Lubbock, Midland-Odessa, Abilene, Amarillo and Wichita
Falls; 16 in the Bryan/College
Station area, 6 in the Central
Oklahoma area; and 8 in the Tulsa,
Oklahoma area.
Cautionary Notes on Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward-looking
statements within the meaning of the federal securities laws,
including Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are typically, but not exclusively,
identified by the use in the statements of words or phrases such as
"aim," "anticipate," "estimate," "expect," "goal," "guidance,"
"intend," "is anticipated," "is expected," "is intended,"
"objective," "plan," "projected," "projection," "will affect,"
"will be," "will continue," "will decrease," "will grow," "will
impact," "will increase," "will incur," "will reduce," "will
remain," "will result," "would be," variations of such words or
phrases (including where the word "could," "may," or "would" is
used rather than the word "will" in a phrase) and similar words and
phrases indicating that the statement addresses some future result,
occurrence, plan or objective. Forward-looking statements include
all statements other than statements of historical fact, including
forecasts or trends, and are based on current expectations,
assumptions, estimates and projections about Prosperity Bancshares
and its subsidiaries. These forward-looking statements may include
information about Prosperity's possible or assumed future economic
performance or future results of operations, including future
revenues, income, expenses, provision for loan losses, provision
for taxes, effective tax rate, earnings per share and cash flows
and Prosperity's future capital expenditures and dividends, future
financial condition and changes therein, including changes in
Prosperity's loan portfolio and allowance for loan losses, future
capital structure or changes therein, as well as the plans and
objectives of management for Prosperity's future operations, future
or proposed acquisitions, the future or expected effect of
acquisitions on Prosperity's operations, results of operations,
financial condition, and future economic performance, statements
about the anticipated benefits of the proposed transaction with
Lone Star State Bancshares, Inc., and statements about the
assumptions underlying any such statement. 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); the
possibility that the anticipated benefits of an acquisition
transaction are not realized when expected or at all, including as
a result of the impact of, or problems arising from, the
integration of two companies or as a result of the strength of the
economy and competitive factors generally; 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, 2022 and other reports and
statements Prosperity Bancshares has filed with the Securities and
Exchange Commission ("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.