Prosperity Bancshares, Inc. · Houston, TX United States ·(NASDAQ (GS): PRSP)
Company Description
Phone: 713-693-9300
Fax: 713-693-9360
Rankings
- S&P 600
View Prosperity Bancshares, Inc. Locations On A US Map
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This link will open in a new window Feeling prosperous? Prosperity Bancshares wants to help you manage your riches. The company operates 168 Prosperity Bank branches in and around major Texas cities, as well as eastern and southern portions of the state. The bank offers traditional deposit and cash management services. Commercial mortgages make up the largest segment (more than 33%) of the company's loan portfolio, which also includes residential mortgage, construction, home equity, business, and agricultural loans. The acquisitive company has been buying up small banks in Texas. It acquired six branches in Houston from Banco Popular North America in early 2008 and then bought Houston's two-branch 1st Choice Bancorp. To read the full description, subscribe now.
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Key Prosperity Bancshares, Inc. Financials
| Company Type | Public - NASDAQ (GS): PRSP Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $280.1 |
| 2008 Employees | 1,734 |
Prosperity Bancshares, Inc. Executives
23 executives listed for Prosperity Bancshares, Inc.'s Houston, TX location.
| Title | Name & Bio | Contact |
| Senior Chairman and CEO | David Zalman | Network |
| Vice Chairman, President, and Director; Chairman and COO, Prosperity Bank | H. E. Timanus | Network |
| President, COO, and Director; President, Prosperity Bank | James Rollins | Network |
Competition
Competitive Landscape for Prosperity Bancshares, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Prosperity Bancshares, Inc. Competitors
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