HOUSTON, April 17, 2015 /PRNewswire/ -- Keefe, Bruyette & Woods, Inc. (KBW) has named Prosperity Bancshares, Inc.® (NYSE: PB) to its "2014 Bank Honor Roll" of superior performers, in recognition of the bank's strong performance over the past ten years. This year will mark the tenth year that Prosperity Bancshares has been so honored.
"I am pleased to announce Prosperity Bancshares' inclusion into the 2014 Keefe, Bruyette & Woods' Honor Roll," said David Zalman, Prosperity's Chairman and Chief Executive Officer. "To qualify for this honor, a bank must maintain extraordinarily high quantitative metrics for the previous 10 years. Twenty-five banking institutions posted a 10-year record worthy of admission to this year's KBW Honor Roll," continued Zalman.
According to KBW, the Bank Honor Roll winners significantly outperform both their banking peers and the market and have better-than-industry performance ratios and growth rates.
KBW Bank Honor Roll winners are publicly traded banking institutions with more than $500 million in total assets that meet three conditions:
- No annual loss reported in net income per share before extraordinary items over the past 10 years;
- 2014 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
- Consecutive increases in net income per share before extraordinary items since 2009.
Prosperity Bancshares, Inc. ®
As of December 31, 2014, Prosperity Bancshares Inc. ® is a $21.508 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 http://www.prosperitybankusa.com, Retail Brokerage Services, Credit Cards, MasterMoney Debit Cards, 24 hour voice response banking, Trust and Wealth Management, Mortgage Services and Mobile Banking.
Prosperity currently operates 244 full-service banking locations: 61 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 36 in the Dallas/Fort Worth area; 22 in the East Texas area; 30 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 9 in the Tulsa, Oklahoma area.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains, and the remarks by Prosperity's management on the conference call may contain, forward-looking statements within the meaning of the securities laws that are based on current expectations, assumptions, estimates and projections about Prosperity and its subsidiaries. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of Prosperity's control, which may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity's securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; economic conditions, including currency rate fluctuations and interest rate fluctuations; and weather. These and various other factors are discussed in Prosperity's Annual Report on Form 10-K for the year ended December 31, 2014 and other reports and statements Prosperity has filed with the SEC. Copies of the SEC filings for Prosperity Bancshares® may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.
SOURCE Prosperity Bancshares, Inc.