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Dec 31, 2019
Prosperity Q4 2019 Earnings Report
Prosperity's net income was impacted by merger related expenses and merger with LegacyTexas Financial Group, Inc. was completed.
Key Takeaways
Prosperity Bancshares, Inc. reported net income of $86.134 million for Q4 2019, impacted by merger-related expenses of $46.402 million. The merger with LegacyTexas Financial Group, Inc. was completed on November 1, 2019, significantly increasing deposits and loans.
Completed the merger with LegacyTexas Financial Group, Inc. on November 1, 2019
Fourth quarter net income of $86.134 million and earnings per share (diluted) of $1.01, both impacted by merger related expenses of $46.402 million
Deposits increased $7.270 billion or 42.9% during the fourth quarter 2019
Loans increased $8.172 billion or 76.6% during the fourth quarter 2019
Revenue by Geographic Location
Forward Guidance
Prosperity expects asset growth and enhanced opportunities for customers and associates, ultimately increasing shareholder value.
Positive Outlook
- Combination of LegacyTexas Bank and Prosperity Bank should result in asset growth
- Enhanced customer opportunities
- Enhanced associate opportunities
- Increase shareholder value
- Consumer sentiment remains strong and the trends suggest a positive start to 2020
Challenges Ahead
- Oil and gas prices remaining in the $55 to $60 per barrel range
- Credit quality could deteriorate
- Actions of competitors
- Changes in laws and regulations
- Economic conditions, including currency rate, interest rate and commodity price fluctuations
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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