Brief: Prosperity Bancshares To Acquire Lone Star State Bancshares In Lubbock, Texas

Prosperity Bancshares

11/10/2022 14:03

Oct 11 (Reuters) - Prosperity Bancshares Inc  PB.N :
    * PROSPERITY BANCSHARES, INC.® TO ACQUIRE LONE STAR STATE
BANCSHARES, INC. IN LUBBOCK, TEXAS
    * PROSPERITY BANCSHARES INC - BASED ON CO'S CLOSING PRICE OF
$69.27 ON OCTOBER 7, 2022, TOTAL CONSIDERATION WAS VALUED AT
APPROXIMATELY $228.7 MILLION
    * PROSPERITY BANCSHARES- CO TO ISSUE 2.4 MILLION SHARES OF
PROSPERITY COMMON STOCK PLUS $64.1 MILLION IN CASH FOR ALL
OUTSTANDING SHARES OF LONE STAR CAPITAL STOCK
    * PROSPERITY BANCSHARES INC - MELISA ROBERTS, LONE STAR
CHIEF
LENDING OFFICER, WILL JOIN PROSPERITY BANK AS WEST TEXAS AREA
VICE PRESIDENT
    * PROSPERITY BANCSHARES INC - ADDITIONAL MEMBERS OF LONE
STAR
MANAGEMENT WILL MAINTAIN LEADERSHIP ROLES IN COMBINED
ORGANIZATION

Source text for Eikon:  ID:nPn2hZkhra 
Further company coverage:  PB.N 
 ((Reuters.Briefs@thomsonreuters.com;))