Prosperity Bancshares (PB) Reports Strong Fourth-Quarter Earnings, Exceeding Expectations
Houston, TX - Prosperity Bancshares Inc. (PB) announced its fourth-quarter financial results on Wednesday, reporting a net income of $130.1 million, or $1.37 per share. These figures surpassed Wall Street expectations, which estimated earnings of $1.33 per share.
The Houston-based bank posted revenue of $450.8 million for the quarter, with revenue net of interest expense reaching $307.6 million. Both metrics exceeded analysts' forecasts, as six analysts surveyed by Zacks Investment Research predicted revenue of $302.8 million.
For the full year, Prosperity Bancshares reported a profit of $479.4 million, or $5.05 per share, on revenue of $1.19 billion.