Prosperity Bancshares receives regulatory approval for Lone Star acquisition

Prosperity Bancshares, the parent company of Prosperity Bank, announced that it has received all regulatory approvals necessary to complete its previously announced acquisition of Lone Star State Bancshares, the parent company of Lone Star State Bank of West Texas. The merger is expected to be effective as of April 1 subject to the satisfaction or waiver of customary closing conditions described in the definitive merger agreement. Lone Star banking locations will continue to operate under the Lone Star name until the operational integration, which is scheduled for October 28. At that time, Lone Star customers may begin using any of Prosperity Bank’s combined 288 banking centers. Upon completion of the merger, Prosperity’s West Texas Area will have 49 banking centers.