Prosperity Bancshares To Buy American Bank Holding For $321.5 Mln

(RTTNews) - Prosperity Bancshares, Inc. (PB) and American Bank Holding Corporation, on Friday, jointly announced that they have inked a merger deal whereby Prosperity will acquire American Bank Holding for around $321.5 million, based on Prosperity's closing price of $72.40 on July 16.

Under the terms, Prosperity will issue its 4.439 million shares for all shares of American.

David Zalman, CEO of Prosperity, said: "This combination will strengthen our presence and operations in South Texas and surrounding areas and enhances our presence in Central Texas, including in San Antonio, a highly desirable, high growth area."

The merger is expected to be closed in the fourth quarter of 2025 or first-quarter of 2026.  

American reported total assets of $2.5 billion, total loans of $1.8 billion, and total deposits of $2.3 billion as of March 31.

As of March 31, Prosperity is a $38.765 billion Houston, Texas-based provider of personal banking services and investments throughout Texas and Oklahoma.