Prosperity Bancshares Q2 net income rises to $111.6 million, EPS $1.17 vs $0.94
Prosperity Bancshares reported second quarter 2024 net income of $111.6 million, or $1.17 per diluted share, up from $86.9 million, or $0.94, a year earlier, and essentially flat with $110.4 million, or $1.18, in the first quarter. The company said the quarter included a $10.7 million net gain from a Visa Class B-1 stock exchange and sale of securities, offset by merger related and FDIC special assessment charges, and that excluding these items EPS was $1.22. The results followed the April 1, 2024 completion of the Lone Star State Bancshares merger.
Key points
- Net income of $111.6 million, or $1.17 per diluted share, for Q2 2024, compared with $86.9 million, or $0.94, in Q2 2023
- Excluding merger related provision and expenses, Visa and securities gains, and FDIC special assessment, net of tax, EPS was $1.22 (non-GAAP)
- Net interest margin rose to 2.94% from 2.79% in Q1 2024; loans rose $1.06 billion or 5.0% in the quarter, largely from the merger
- Repurchased 671 thousand shares in Q2 2024; declared a third quarter dividend of $0.56 per share, payable October 1, 2024
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 24, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.