Prosperity Bancshares (PB) Tops Q4 EPS by 22c

Prosperity Bancshares (NYSE: PB) reported Q4 EPS of $1.44, $0.22 better than the analyst estimate of $1.22.

"The combination of LegacyTexas Bank and Prosperity Bank, which was effective November 1, 2019, has been one of the most exciting times in Prosperity\'s history. The commonalities, enthusiasm and strengths that both companies offer should not only result in asset growth, but should also enhance customer and associate opportunities, and ultimately increase shareholder value. We are excited about Prosperity\'s future opportunities," said David Zalman, Prosperity\'s Chairman and Chief Executive Officer.

"Prosperity Bank has been rated in the Top 10 of Forbes Best Banks in America for the seventh consecutive year, and we are the highest rated Texas-based bank," continued Zalman.

"Despite oil and gas prices remaining in the $55 to $60 per barrel range, Texas and Oklahoma continue to experience employment and population growth, with many companies moving to these states because of favorable tax environments and business friendly political climates. Consumer sentiment remains strong and the trends suggest a positive start to 2020," concluded Zalman.

For earnings history and earnings-related data on Prosperity Bancshares (PB) click here.

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