Prosperity Bancshares announces two Texas bank acquisitions valued at ~$570M combined

PROSPERITY BANCSHARES INC

Acquires Lone Star State Bancshares for ~$228.7M (2.38M shares + $64.1M cash); $1.3B assets, $933.5M loans.
Acquires First Bancshares of Texas for ~$341.6M (3.58M shares + $93.4M cash); $2.1B assets, $1.6B loans.
Both acquisitions expected to close in Q1 2023, subject to regulatory and shareholder approvals.
Alan Lackey (Lone Star CEO) to serve as West Texas Area President; Ken Burgess to serve as Regional President.

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