MergerApr 22, 2026, 08:02 AM
Stellar Bancorp Secures All Regulatory Approvals for Prosperity Merger
AI Summary
Stellar Bancorp, Inc. announced that it has received all necessary regulatory approvals for its proposed merger with Prosperity Bancshares, Inc. This includes a waiver from the Federal Reserve Bank of Dallas and approvals from the Federal Deposit Insurance Corporation and the Texas Department of Banking for the bank merger. The merger is now contingent on approval from Stellar shareholders, with a special meeting scheduled for May 27, 2026, and is expected to close around July 1, 2026.
Key Highlights
- Stellar Bancorp received waiver from Federal Reserve Bank of Dallas.
- Secured regulatory approvals from FDIC and Texas Department of Banking.
- All necessary regulatory approvals for the merger have been obtained.
- Shareholder meeting scheduled for May 27, 2026.
- Merger expected to complete on or about July 1, 2026.