Banks: Prosperity Bancshares completes takeover of Texas Bankers
Prosperity Bancshares, Inc. has completed the previously announced acquisition of Texas Bankers, Inc. and its wholly-owned subsidiary, Bank of Texas, Austin, Texas.
Prosperity Bancshares says that the transaction continues Prosperity's strategic growth and expansion of the franchise in Central Texas.
Prosperity began trading on the New York Stock Exchange (NYSE) under the symbol "PB" on Wednesday, 28 December, 2011 and was recently named the number 1 bank in America by Forbes in their "2012 Best Banks in America" report.
The three Bank of Texas branches in the Austin, Texas district include a location in Rollingwood, which will be consolidated with Prosperity's Westlake branch and remains in the old Bank of Texas' Rollingwood banking office; one banking centre in central Austin, which will be consolidated into Prosperity's nearby office; and another banking centre in Thorndale. Prosperity will now operate thirty-four branches in the Central Texas area including Austin and San Antonio.
Texas Bankers, Inc. reported total deposits of USD63.1 million, total loans of USD30.5 million and total assets of USD70.7 million on 30 September, 2011.
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