Core Viewpoint - Prosperity Bancshares Inc. reported strong fourth-quarter 2024 results, with adjusted earnings per share (EPS) of $1.37, exceeding expectations and showing year-over-year growth [1][3]. Financial Performance - Adjusted total revenues for the fourth quarter were $307 million, a 12.2% increase from the prior-year quarter, surpassing the Zacks Consensus Estimate of $302.8 million [4]. - For the full year 2024, adjusted total revenues reached $1.18 billion, up 6.4% year over year, matching the Zacks Consensus Estimate [4]. - Net income available to common shareholders for the fourth quarter was $130 million, up from $95.5 million in the year-ago quarter [2]. Income and Expenses - Net interest income (NII) was $267.8 million, reflecting a 13% increase year over year, while the net interest margin (NIM) expanded by 30 basis points to 3.05% [5]. - Non-interest income was $39.8 million, an 8.9% increase, driven by growth across all components [5]. - Non-interest expenses decreased by 7% to $141.5 million, attributed to lower occupancy and equipment charges, among other factors [6]. Credit Quality - Total non-performing assets rose to $81.5 million from $72.7 million in the prior-year quarter, with the allowance for credit losses to total loans ratio increasing to 1.59% [8]. - Net charge-offs were significantly lower at $2.6 million compared to $19.1 million in the year-ago period [8]. Capital Ratios and Profitability - The common equity tier 1 capital ratio improved to 16.42%, up from 15.54% in the prior year [10]. - The annualized return on average assets increased to 1.31% from 0.98%, and the return on average common equity rose to 7% from 5.39% [10]. Share Repurchase Plan - Prosperity Bancshares did not repurchase any shares during the reported quarter but announced a new plan to buy back up to 5% or 4.8 million shares, set to expire on January 21, 2026 [11]. Strategic Outlook - The company's focus on strategic acquisitions is expected to enhance its long-term financial strength, supported by a solid deposit mix and improving fee income [12].

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Prosperity Bancshares (PB) Q4 2024 Earnings Call January 29, 2025 11:30 AM ET Company Participants Charlotte Rasche - Executive VP & General CounselDavid Zalman - Senior Chairman & CEOAsylbek Osmonov - Chief Financial OfficerTim Timanus - ChairmanKevin Hanigan - President & Chief Operating OfficerJon Arfstrom - Managing Director - Associate Director of US ResearchCatherine Mealor - Managing Director - Equity ResearchMatt Olney - Managing DirectorJon Rau - Vice President Conference Call Participants Manan Go ...

Financial Performance - Prosperity Bancshares reported revenue of $307.61 million for the quarter ended December 2024, reflecting a 12.5% increase year-over-year [1] - Earnings per share (EPS) for the quarter was $1.37, up from $1.19 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $302.8 million by 1.59% [1] - EPS also surpassed the consensus estimate of $1.33 by 3.01% [1] Key Metrics - Net Interest Margin (Tax Equivalent Basis) was 3.1%, matching the average estimate from six analysts [4] - Efficiency Ratio stood at 46.1%, better than the average estimate of 46.7% [4] - Net charge-offs to average loans were 0.1%, consistent with the average estimate [4] - Average balance of total interest-earning assets was $35.08 billion, exceeding the estimated $34.67 billion [4] - Total nonperforming assets were reported at $81.54 million, lower than the estimated $89.39 million [4] - Total nonperforming loans were $75.84 million, compared to the estimated $83.52 million [4] - Tier 1 Leverage Capital Ratio was 10.8%, slightly below the average estimate of 10.9% [4] - Tier 1 Risk-based Capital Ratio was 16.4%, above the estimated 15.8% [4] - Total Risk-based Capital Ratio was 17.7%, exceeding the estimated 17.2% [4] - Total Noninterest Income was $39.84 million, higher than the average estimate of $37.20 million [4] - Net Interest Income was $267.77 million, surpassing the average estimate of $265.02 million [4] - Net Interest Income (Tax Equivalent Basis) was $268.54 million, compared to the average estimate of $267.12 million [4] Stock Performance - Shares of Prosperity Bancshares have returned +6.2% over the past month, outperforming the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Prosperity Bancshares (PB) came out with quarterly earnings of $1.37 per share, beating the Zacks Consensus Estimate of $1.33 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.01%. A quarter ago, it was expected that this financial holding company would post earnings of $1.30 per share when it actually produced earnings of $1.34, delivering a surprise of 3.08%.Over the last four qu ...

PRESS RELEASE For more information contact: Prosperity Bancshares, Inc. Cullen Zalman Prosperity Bank Plaza Executive Vice President – Banking and Corporate Activities 4295 San Felipe 281.269.7199 Houston, Texas 77027 cullen.zalman@prosperitybankusa.com Exhibit 99.1 ® PROSPERITY BANCSHARES, INC. ® REPORTS FOURTH QUARTER 2024 EARNINGS HOUSTON, January 29, 2025. Prosperity Bancshares, Inc. ® (NYSE: PB), the parent company of Prosperity Bank ® (collectively, "Prosperity"), reported net income of $130.1 million ...

Core Points - Prosperity Bancshares reported a net income of $130.1 million for Q4 2024, a 36.2% increase from $95.5 million in Q4 2023, with diluted earnings per share rising to $1.37 from $1.02 [1][5][10] - The company experienced a significant increase in deposits, up by $293.7 million in Q4 2024, while borrowings decreased by $700 million [1][19] - Nonperforming assets decreased to $81.5 million, representing 0.23% of average interest-earning assets, indicating strong asset quality [1][21] Financial Performance - For the year ended December 31, 2024, net income was $479.4 million, a 14.3% increase from $419.3 million in 2023, with earnings per share rising to $5.05 from $4.51 [10][11] - Net interest income before provision for credit losses for 2024 was $1.026 billion, up 7.3% from $956.4 million in 2023, driven by higher loan balances and rates [12] - The net interest margin improved to 2.93% for 2024, compared to 2.78% in 2023, reflecting better loan performance [13] Asset and Deposit Growth - Total assets increased to $39.567 billion as of December 31, 2024, a 2.6% rise from $38.548 billion a year earlier [17] - Loans reached $22.149 billion, a 4.6% increase from $21.181 billion in 2023, primarily due to the merger with Lone Star Bank [18] - Total deposits were $28.381 billion, up 4.4% from $27.180 billion in 2023, with noninterest-bearing deposits comprising 34.5% of total deposits [19][1] Merger Impact - The merger with Lone Star State Bancshares on April 1, 2024, contributed significantly to the growth in loans and deposits [30][31] - The merger resulted in goodwill of $106.7 million as of December 31, 2024, reflecting the strategic expansion of the company's operations [31] Future Outlook - The company expressed optimism about growth prospects in Texas and Oklahoma, citing favorable economic conditions and population growth [2][3] - Prosperity Bancshares has a strong capital position, allowing for potential mergers and acquisitions, stock repurchases, and organic growth without needing additional capital [3]

HOUSTON, Jan. 21, 2025 /PRNewswire/ -- Prosperity Bancshares, Inc.® (the "Company") (NYSE: PB), the parent company of Prosperity Bank®, today announced that its Board of Directors authorized a stock repurchase program under which the Company may repurchase up to 5%, or approximately 4.8 million shares, of its outstanding common stock over a one-year period expiring on January 21, 2026, at the discretion of management. Repurchases under this program may be made from time to time in open market transactions, ...

HOUSTON, Dec. 23, 2024 /PRNewswire/ -- In conjunction with Prosperity Bancshares, Inc.® (NYSE: PB) Fourth Quarter 2024 Earnings Announcement, scheduled before the market opens on Wednesday, January 29, 2025, you are invited to listen to its conference call at 11:30 AM, Eastern Time (10:30 AM, Central Time) on that day. Participants will include members of Prosperity's executive management team.  What: Prosperity Bancshares, Inc.® Fourth Quarter 2024 Earnings Conference Call  When: Wednesday, Januar ...

My last two articles on Prosperity Bancshares (NYSE: PB ) highlighted the potential of this bank and how the price per share was undervalued. Since that time, the stock has outperformed the S&P 500 and isHi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets started about 5 years ago when I accidentally came across a video about trading. That was the spa ...