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Last $54.78 USD
Change Today +0.19 / 0.35%
Volume 398.0K
PB On Other Exchanges
Symbol
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As of 8:04 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Prosperity Bank Plaza

4295 San Felipe

Houston, TX 77027

United States

Phone: 713-693-9300

Fax:

Prosperity Bancshares, Inc. operates as the holding company for Prosperity Bank that provides a line of financial products and services to small and medium-sized businesses, and consumers. As of December 31, 2014, the company operated 245 full service banking locations; 62 in the Houston area, including The Woodlands; 30 in the South Texas area, including Corpus Christi and Victoria; 36 in the Dallas/Fort Worth area; 22 in the East Texas area; 30 in the Central Texas area, including Austin and San Antonio; 34 in the West Texas area, including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area, 6 in the Central Oklahoma area; and 9 in the Tulsa, Oklahoma area. Banking Activities The company offers various traditional loan and deposit products to its customers, which consist primarily of consumers and small and medium-sized businesses. The company tailors its products to the specific needs of customers in a given market. As of December 31, 2014, the company maintained approximately 604,500 separate deposit accounts, including certificates of deposit and 59,000 separate loan accounts. The company also offers commercial loans, loans for automobiles and other consumer durables, home equity loans, debit and credit cards, Internet banking and other cash management services, mobile banking, trust and wealth management, retail brokerage services, mortgage banking services and automated telephone banking. The company offers businesses a range of loan products, including term loans, lines of credit and loans for working capital, business expansion and the purchase of equipment and machinery; land development and interim construction loans for builders; and owner-occupied and non-owner occupied commercial real estate loans. Commercial and Industrial Loans: The company’s commercial loans are made in its market areas and are underwritten on the basis of the borrower’s ability to service the debt from income. As a general practice, the company takes as collateral a lien on any available real estate, equipment or other assets owned by the borrower and obtains a personal guaranty of the borrower or principal. Commercial Real Estate: The company makes commercial real estate loans collateralized by owner-occupied and non owner-occupied real estate to finance the purchase of real estate. Its commercial real estate loans are collateralized by first liens on real estate, typically have variable interest rates (or 5 year or less fixed rates) and amortize approximately a 15 to 20 year period. 1-4 Family Residential Loans: The company’s lending activities also include the origination of 1-4 family residential mortgage loans (including home equity loans) collateralized by owner-occupied residential properties located in its market areas. It offers various mortgage loan portfolio products which generally are amortized approximately 5 to 25 years. The company requires mortgage title insurance and hazard insurance. It retains these portfolio loans for its own account rather than selling them into the secondary market. The company’s Home Loan Center offers various mortgage loan products which are generally amortized approximately 30 years, including FHA and VA loans. The company sells the loans originated by the Home Loan Center into the secondary market. Construction, Land Development and Other Land Loans: The company makes loans to finance the construction of residential and, to a lesser extent, nonresidential properties. Construction loans generally are collateralized by first liens on real estate and have floating interest rates. The company conducts periodic inspections, either directly or through an agent, prior to approval of periodic draws on these loans. Agriculture Loans: The company provides agriculture loans for short-term crop production, including rice, cotton, milo and corn, farm equipment financing and agriculture real estate financing. Consumer Loans: Consumer loans made by the company include direct A-credit automobile loans, recreational vehicle loans, boat loans, home improvement loans, personal loans (collateralized and uncollateralized) and deposit account collateralized loans.

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