Prosperity Bancshares (PB) Tops Q4 EPS by 22c

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Go back to Prosperity Bancshares (PB) Tops Q4 EPS by 22c

Prosperity Bancshares, Inc.® Reports Fourth Quarter 2019 Earnings

January 29, 2020 6:30 AM EST

HOUSTON, Jan. 29, 2020 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank® (collectively, "Prosperity"), reported net income for the quarter ended December 31, 2019 of $86.134 million compared with $83.331 million for the same period in 2018. Net income per diluted common share was $1.01 compared with $1.19 for the same period in 2018. On November 1, 2019, LegacyTexas Financial Group, Inc. ("LegacyTexas"), merged with Prosperity Bancshares and LegacyTexas Bank merged with Prosperity Bank (collectively, the "Merger"). During the fourth quarter of 2019, Prosperity incurred merger related charges of $46.402 million, or $0.43(1) per diluted common share. Excluding these charges, earnings per... More