Prosperity Bancshares completes $590M cash-and-stock acquisition of Stellar Bancorp

PROSPERITY BANCSHARES INC

Total consideration ~$590M cash + 19M PB shares; Stellar holders got 0.3803 PB shares + $11.36 cash per share.
Robert R. Franklin Jr. appointed Vice Chairman of Prosperity and Prosperity Bank; receives $1.12M base salary, 175% target bonus, $3M signing bonus, 25,000 RSA shares.
Stellar's 52 banking offices in Houston, Beaumont, East Texas, Dallas to operate under Stellar name until operational integration in March 2027.
Prosperity assumed ~$2.17B in FHLB Dallas obligations from Stellar.

item 2.01 item 2.03 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Joseph B. Swinbank

Director

PB · PROSPERITY BANCSHARES INC

Effective: 2026-07-01
Filed: July 1, 2026, 7:15 AM ET

The two former directors of Stellar appointed by the Board, in each case effective as of the Effective Time, were Robert R. Franklin, Jr. and Joseph B. Swinbank.

Appointed

Robert R. Franklin, Jr.

Vice Chairman

PB · PROSPERITY BANCSHARES INC

Effective: 2026-07-01
Filed: July 1, 2026, 7:15 AM ET

Effective as of the Effective Time, Mr. Franklin was appointed to the position of Vice Chairman of Prosperity and Prosperity Bank.

Appointed

Robert R. Franklin, Jr.

Director

PB · PROSPERITY BANCSHARES INC

Effective: 2026-07-01
Filed: July 1, 2026, 7:15 AM ET

The two former directors of Stellar appointed by the Board, in each case effective as of the Effective Time, were Robert R. Franklin, Jr. and Joseph B. Swinbank.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph B. Swinbank was appointed as Director at PROSPERITY BANCSHARES INC.

Action: appointed
Role: Director

Exact text from the filing

The two former directors of Stellar appointed by the Board, in each case effective as of the Effective Time, were Robert R. Franklin, Jr. and Joseph B. Swinbank.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert R. Franklin, Jr. was appointed as Vice Chairman at PROSPERITY BANCSHARES INC.

Action: appointed
Role: Vice Chairman

Exact text from the filing

Effective as of the Effective Time, Mr. Franklin was appointed to the position of Vice Chairman of Prosperity and Prosperity Bank.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert R. Franklin, Jr. was appointed as Director at PROSPERITY BANCSHARES INC.

Action: appointed
Role: Director

Exact text from the filing

The two former directors of Stellar appointed by the Board, in each case effective as of the Effective Time, were Robert R. Franklin, Jr. and Joseph B. Swinbank.

View on SEC.gov

PROSPERITY BANCSHARES INC filing history →

Source: SEC EDGAR

accession 0001193125-26-291486

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