Prosperity Bancshares completes $1.95B acquisition of Stellar Bancorp

Filed July 1, 2026 · Period ending July 1, 2026 · ~1 min read

Key Changes

• high

  Prosperity closed its acquisition of Stellar Bancorp on July 1, 2026, issuing approximately 19 million shares and paying $590 million cash. Each Stellar share converted to 0.3803 Prosperity shares plus $11.36 cash.

  Item 2.01 — Completion of Acquisition or Disposition of Assets verify on EDGAR →
• high

  The combined entity has $43.6 billion in assets and operates 311 full-service banking locations across Texas and Oklahoma. Stellar's 52 branches will continue under the Stellar Bank name until operational integration in March 2027.

  Exhibit 99.1 verify on EDGAR →
• medium

  Prosperity appointed two former Stellar directors to its board, expanding from 14 to 16 directors. Robert Franklin became Vice Chairman with a 3-year employment agreement including $1.12M base salary, 175% target bonus, and $3M signing bonus.

  Item 5.02 — Departure of Directors or Certain Officers; Compensation verify on EDGAR →