Prosperity Bancshares (PB) Tops Q1 EPS by 21c
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Prosperity Bancshares, Inc.® Reports First Quarter 2020 Earnings
April 29, 2020 6:30 AM EDTHOUSTON, April 29, 2020 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank® (collectively, "Prosperity"), reported net income for the quarter ended March 31, 2020 of $130.848 million compared with $82.402 million for the same period in 2019. Net income per diluted common share was $1.39 compared with $1.18 for the same period in 2019. Additionally, loans increased 1.5% during the first quarter 2020 and nonperforming assets remain low at 0.25% of first quarter average interest-earning assets. On November 1, 2019, LegacyTexas Financial Group, Inc. ("LegacyTexas"), merged with Prosperity Bancshares and LegacyTexas Bank merged with Prosperity Bank (collectively, the "Merger").
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