Every material Form 8-K Prosperity Bancshares filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Prosperity Bancshares reported third quarter 2024 net income of $127.3 million, or $1.34 per diluted share, up from $112.2 million, or $1.20 per share, a year earlier. The board also approved a fourth quarter dividend of $0.58 per share, up from $0.56, which shareholders would receive if the increase holds. Results were driven mainly by higher net interest income, with three months of Lone Star Bank operations included.
Net income was $127.3 million, up $15.1 million or 13.4% from the third quarter of 2023.
Diluted EPS was $1.34, compared with $1.20 a year earlier.
Net interest margin rose 23 basis points to 2.95% from 2.72% a year earlier.
Quarterly dividend increased 3.57% to $0.58 per share, payable January 2, 2025, to holders of record as of December 13, 2024.
Prosperity Bancshares entered a Fourth Amended and Restated Employment Agreement with CEO David Zalman on October 15, 2024. The revised agreement narrows change-in-control payments: cash payments now apply only if Zalman resigns for Good Reason or is terminated without Cause within a window from six months before to 18 months after a change in control.
Agreement dated October 15, 2024, amends the Third Amended and Restated Agreement effective December 29, 2023.
Prior agreement paid three times base salary and three times average annual bonus upon a change in control.
Revised agreement requires a qualifying termination, with payments tied to a window running six months before to 18 months after a change in control.
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.
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
Prosperity Bancshares reported first quarter 2024 net income of $110.4 million, or $1.18 per diluted share, down from $124.7 million, or $1.37 per share, a year earlier but up from $95.5 million, or $1.02 per share, in the fourth quarter of 2023. The company also completed the Lone Star State Bancshares merger on April 1, 2024, and declared a $0.56 second quarter dividend.
Net income of $110.4 million and $1.18 per diluted share, versus $124.7 million and $1.37 in Q1 2023
Up from $95.5 million and $1.02 per diluted share in Q4 2023, mainly on higher interest income and lower FDIC assessments
Net interest margin of 2.79%, up from 2.75% in Q4 2023 but down from 2.93% a year earlier
Repurchased 567,692 shares at an average $62.12 per share; second quarter dividend of $0.56 per share payable July 1, 2024
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Prosperity Bancshares filing is on SEC EDGAR ↗. 8-K briefs of other companies →