Prosperity Bancshares, Inc.® Hurricane Harvey Relief Efforts

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Sep 01, 2017, 17:24 ET

HOUSTON, Sept. 1, 2017 /PRNewswire/ -- Prosperity Bancshares, Inc.^® (NYSE: PB), the parent company of Prosperity Bank^® (collectively, "Prosperity"), today announced its recovery and relief efforts related to Hurricane Harvey.

Being here on the ground in Texas, it is heartbreaking to see the devastation and destruction in and around the communities that we serve in the South Texas and Houston areas. It is even worse to see the physical and emotional toll that Hurricane Harvey has taken on residents of these communities – many of whom are our customers and associates.

Since the storm first hit Rockport last Saturday, Prosperity Bank has been working hard on ways that we can help our customers, our associates and our communities recover from this devastation. In addition to the safety of our associates, our first and foremost concern was the opening of our banking centers to serve our customers. Prosperity Bank operates 94 banking centers in the Houston and South Texas areas, which include Beaumont, Corpus Christi and Victoria. Of these, approximately 34 were open on Monday, 47 were open on Tuesday and 62 were open on Wednesday. As of Friday, because of the dedication of our retail staff, 86 out of 94 banking centers were open to serve and help customers.

Our operations staff were equally as impressive, with many of our wire transfer, ACH and bookkeeping associates living in hotels all weekend and this week in order to be close to the office to provide those services beginning last Monday.

Further, our technology environment was fully operational and supported throughout the storm through the use of our production data center and the availability of our IT associates remotely. We also had continued telephone access for customers through the use of our call centers located in Lubbock and Oklahoma City.

In addition to the rapid opening of our banking centers, we are also doing the following to help our associates and customers in the federally declared disaster areas:

Waiving or refunding foreign ATM transaction fees through September 8;
Waiving overdraft fees related to the storm event;
Providing extensions on loan payments;
Waiving late payment fees and suspending adverse credit reporting on amortizing loans through September;
Waiving late payment fees and suspending adverse credit reporting on consumer mortgage and home equity loans for 90 days;
Providing one-page unsecured loans payable in 12 months;
Maintaining cash in our banking centers and ATMs; and
Establishing a relief fund for our associates that were affected, in which every dollar contributed will be matched by the Bank.

We look forward to continuing to provide outstanding customer service during these trying times. Prosperity is fully committed to the recovery and rebuilding process in these affected areas. As in the past, Texas has shown a great strength and resilience in the face of natural disasters and we are confident that we will all come together to do so again.

Prosperity Bancshares, Inc.^®

As of June 30, 2017, Prosperity Bancshares, Inc.^® is a $22.297 billion Houston, Texas based regional financial holding company, formed in 1983. Operating under a community banking philosophy and seeking to develop broad customer relationships based on service and convenience, Prosperity offers a variety of traditional loan and deposit products to its customers, which consist primarily of small and medium sized businesses and consumers. In addition to established banking products, Prosperity offers a complete line of services including: Internet Banking services at www.prosperitybankusa.com, Retail Brokerage Services, Credit Cards, MasterMoney Debit Cards, 24-hour voice response banking, Trust and Wealth Management, Mortgage Services, Cash Management, and Mobile Banking.

Prosperity currently operates 243 full-service banking locations: 65 in the Houston area, including The Woodlands; 29 in the South Texas area, including Corpus Christi and Victoria; 34 in the Dallas/Fort Worth area; 22 in the East Texas area; 29 in the Central Texas area, including Austin and San Antonio; 34 in the West Texas area, including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area.