Quarterly ResultApr 29, 2026, 06:32 AM
PB Q1 Net Income $116.3M, EPS $1.16; Completes 2 Mergers
AI Summary
Prosperity Bancshares, Inc. reported Q1 2026 net income of $116.3 million ($1.16 diluted EPS), down from $130.2 million ($1.37 diluted EPS) in Q1 2025. Excluding $42.5 million in merger-related expenses, adjusted net income was $149.9 million ($1.50 diluted EPS). The company completed the mergers of American Bank Holding Corporation and Southwest Bancshares, Inc. during the quarter, leading to significant increases in loans and deposits. Prosperity also received regulatory approvals for the pending merger of Stellar Bancorp, Inc.
Key Highlights
- Completed mergers of American Bank Holding and Southwest Bancshares; received Stellar Bancorp merger approvals.
- Net income was $116.3 million ($1.16 diluted EPS) for Q1 2026.
- Adjusted net income was $149.9 million ($1.50 diluted EPS), excluding $42.5 million merger expenses.
- Net interest margin increased 21 basis points to 3.51% compared to Q4 2025.
- Loans (excluding Warehouse Purchase Program) increased $3.354 billion or 16.4% in Q1 2026.
- Deposits increased $4.150 billion or 14.6% in Q1 2026.
- Repurchased approximately 837,000 shares for $57.1 million at $68.15 per share.
- Nonperforming assets remained low at 0.33% of average interest-earning assets.