Prosperity Bancshares (PB) Tops Q1 EPS by 2c

Prosperity Bancshares (NYSE: PB) reported Q1 EPS of $1.18, $0.02 better than the analyst estimate of $1.16. Revenue for the quarter came in at $186.12 million versus the consensus estimate of $186.01 million.

"Prosperity is fortunate to operate in vibrant and growing states. We continue to see employment growth and a tailwind from companies expanding in and moving to Texas and Oklahoma due to a business friendly political climate and lower tax rates. However, we did experience some pause in loan growth during the first quarter of 2019, impacted by the continued pay downs we experience," said David Zalman, Prosperity's Chairman and Chief Executive Officer.

"Prosperity continues to focus on building core customer relationships, maintaining sound asset quality and operating the bank in an efficient manner, while investing in ever-changing technology and product distribution channels. We intend to continue to grow our company both organically and through mergers and acquisitions," continued Zalman.

"I want to thank everyone involved in our company for helping to make it the success it has become," concluded Zalman.

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

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