Prosperity Bancshares to Acquire Southwest Bancshares and Texas Partners Bank, Expanding Presence in Central Texas
Reuters
Oct 01
Prosperity Bancshares to Acquire Southwest Bancshares and Texas Partners Bank, Expanding Presence in Central Texas
Prosperity Bancshares, Inc.® announced it has entered into a definitive agreement to acquire Southwest Bancshares, Inc., the parent company of Texas Partners Bank. Texas Partners Bank operates eleven offices in Central Texas, including locations in San Antonio, Austin, and the Hill Country, with total assets of $2.4 billion as of June 30, 2025. Under the terms of the agreement, Prosperity will issue 4,062,520 shares of its common stock for all outstanding shares and restricted stock awards of Southwest. The transaction, which was unanimously approved by the boards of both companies, is expected to close in the first quarter of 2026, pending customary approvals. Brent Given, Interim Chairman, President and CEO of Texas Partners Bank, said the merger will combine the resources of a larger regional bank with the local service clients expect.
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