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Prosperity Bancshares reports Q1 EPS $1.37, consensus $1.34
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Prosperity Bancshares reports Q1 EPS $1.37, consensus $1.34

Reports Q1 tangible book value per share $38.13. Reports Q1 CET1 capital ratio 15.59%. "Prosperity continued to show strong earnings despite the failures of Silicon Valley Bank and Signature Bank and the overall pressures on the banking system. Net income was $124.7 million for the three months ended March 31, 2023, compared with $122.3 million for the same period in 2022, an increase of $2.4 million or 1.9%. Loans, excluding Warehouse Purchase Program loans, increased 9.6% annualized for the quarter, while nonperforming assets remained low at 0.07% of first quarter average interest-earning assets. Prosperity repurchased 611,263 of its shares in the first quarter. We are also pleased to announce that we received all necessary regulatory and shareholder approvals for the acquisition of First Bancshares of Texas, Inc.," said David Zalman, Prosperity’s senior chairman and CEO.

Published first on TheFly

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