Prosperity acquires Stellar Bancorp for ~$1.99B in stock+cash; pro forma EPS roughly flat

PROSPERITY BANCSHARES INC

Completed Stellar Bancorp acquisition on July 1, 2026; each Stellar share converted into 0.3803 PB shares plus $11.36 cash.
Total consideration ~$1.99B ($1.41B stock + $578.7M cash) based on PB closing price of $73.03 on June 30, 2026.
Pro forma 2025 net income $656.3M (EPS $5.74) vs PB standalone $542.8M ($5.72); Q1 2026 pro forma net income $146.6M (EPS $1.23) vs $116.3M ($1.16).
Pro forma total assets as of Mar 31, 2026: $54.19B; goodwill rises to $4.56B, core deposit intangibles to $270.8M.
Estimated direct transaction costs $63.0M; preliminary purchase price allocation with cost savings anticipated but not quantified.

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