Prosperity Bancshares’ First Bancshares acquisition granted regulatory approvals

Prosperity Bancshares has received all regulatory approvals necessary to complete its previously announced acquisition of First Bancshares of Texas, the parent company of FirstCapital Bank of Texas. The merger is expected to be effective as of May 1, subject to the satisfaction or waiver of customary closing conditions described in the definitive merger agreement. FirstCapital banking locations will continue to operate under the FirstCapital name until the operational integration, which is scheduled for May 15. At that time, FirstCapital customers may begin using any of Prosperity Bank’s combined 286 banking centers. As of December 31, 2022, First Bancshares, on a consolidated basis, reported total assets of $2.16B, total loans of $1.64B and total deposits of $1.80B.