Prosperity Bancshares (PB) Tops Q4 EPS by 1c

Prosperity Bancshares (NYSE: PB) reported Q4 EPS of $1.19, $0.01 better than the analyst estimate of $1.18.

"We are extremely proud that Prosperity Bank has once again been ranked in the Top 10 of Forbes Best Banks in America for 2019, making Prosperity the only bank in the country to have been ranked in the Top 10 every year from 2014 to 2019," said David Zalman, Prosperity's Chairman and Chief Executive Officer.

"Prosperity's earnings per share increased 22.7% in the fourth quarter 2018 compared to the fourth quarter of 2017. For 2018, loans increased $349.5 million, or 3.5%, and average noninterest bearing deposits increased $303.5 million, or 5.7%. Further, our asset quality remains one of the best in the industry, with non-performing loans at 0.10% of fourth quarter 2018 average interest earning assets," continued Zalman.

"Texas and Oklahoma continue to experience employment and population growth, with many companies moving to these states because of favorable tax environments and business friendly political climates. We look forward to the opportunities ahead in 2019. We will continue our focus on organic growth and serving our customers and communities, while also pursuing strategic acquisition opportunities," concluded Zalman.

For earnings history and earnings-related data on Prosperity Bancshares (PB) click here.

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