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SOUTHWEST BANCSHARES, INC. SHAREHOLDERS APPROVE ACQUISITION BY PROSPERITY BANCSHARES, INC.
Prnewswire· 2026-01-22 23:40
Core Viewpoint - Prosperity Bancshares, Inc. and Southwest Bancshares, Inc. have announced the approval of a merger, with Prosperity continuing as the surviving corporation, and the merger of Texas Partners Bank into Prosperity Bank to follow [1][2]. Group 1: Merger Details - Shareholders of Southwest have approved the merger with Prosperity, which is expected to be completed on February 1, 2026, pending customary closing conditions [2]. - The merger has received approvals from the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Texas Department of Banking [1]. Group 2: Company Profiles - Prosperity Bancshares, Inc. is a regional financial holding company based in Houston, Texas, with assets of $38.330 billion as of September 30, 2025, providing a range of personal banking services and investments [3]. - Prosperity operates 301 full-service banking locations across Texas and Oklahoma, focusing on community banking and offering various financial solutions [4]. - Southwest Bancshares, Inc., founded in 2006, is the holding company for Texas Partners Bank, which has assets of $2.52 billion as of September 30, 2025, and serves Central and South Texas with a focus on community relationships [5].