Prosperity Bancshares Secures Regulatory Approvals for Stellar Bancorp Merger

On April 22, 2026, Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank®, announced it has received crucial regulatory approvals for its anticipated acquisition of Stellar Bancorp, Inc. (NYSE: STEL). This major milestone marks a key point in the integration journey between the two financial institutions.

The Federal Reserve Bank of Dallas has granted a waiver for prior approval concerning the merger of the holding companies, while both the Federal Deposit Insurance Corporation (FDIC) and the Texas Department of Banking have expressed support for the merger of Stellar Bank into Prosperity Bank following the merger of the respective holding companies.

A special meeting for Stellar shareholders is set to occur on May 27, 2026, where they will vote on the Agreement and Plan of Merger dated January 27, 2026. The merger finalization is expected around July 1, 2026, pending approval from Stellar’s shareholders and the fulfillment of typical closing conditions outlined in the merger agreement.

About Prosperity Bancshares, Inc.

Founded in 1983 and based in Houston, Texas, Prosperity Bancshares, Inc. is a regional financial holding company boasting assets of approximately $38.463 billion as of December 31, 2025. Prosperity emphasizes a community banking philosophy, focusing on customer care and providing comprehensive financial solutions tailored to individual and business needs.

With a branch network of 312 full-service locations, Prosperity operates extensively throughout Texas and Oklahoma. Their offerings encompass a wide range of traditional banking services in addition to cutting-edge digital banking solutions, credit products, mortgage services, wealth management, and business treasury management, ensuring a comprehensive suite of financial services for the communities they serve.

Prosperity Bank's branch presence includes 62 locations in the Houston area, 36 in South Texas, 61 across the Dallas/Fort Worth area, and 22 in East Texas, among other regions.

About Stellar Bancorp, Inc.

Stellar Bancorp, Inc., headquartered in Houston, Texas, serves as a bank holding company with a diverse array of commercial banking services tailored primarily to small- to medium-sized businesses, as well as individual customers in regions like Houston, Dallas, and Beaumont. The acquisition by Prosperity will significantly enhance both entities’ capabilities and market presence.

As part of this announcement, the companies included cautionary notes regarding forward-looking statements associated with the transaction, indicating that various factors could affect future performance and results. The anticipated benefits and synergies from the merger, including expected timelines for closing the transaction, are subject to various uncertainties and risks.

Conclusion

The successful acquisition of Stellar Bancorp by Prosperity Bancshares represents a strategic move in expanding Prosperity's footprint in the Texas financial market. It reflects an ongoing trend in the banking and financial services industry toward consolidation, which seeks to bolster service offerings and operational efficiency. As the companies gear up for the upcoming shareholder meetings and final approvals, many in the financial sector will be keenly observing the progression of this noteworthy merger.