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Dec 31, 2021
Prosperity Q4 2021 Earnings Report
Reported net income of $126.8 million for Q4 2021
Key Takeaways
Prosperity Bancshares, Inc. reported a decrease in net income to $126.8 million for the quarter ended December 31, 2021, compared to $137.1 million for the same period in 2020. Earnings per diluted common share were $1.38, and the annualized return on average assets was 1.37%. Loans, excluding Warehouse Purchase Program and SBA Paycheck Protection Program loans, increased by $76.7 million, and deposits increased by $1.320 billion during the quarter.
Net income was $126.8 million, with earnings per share (diluted) at $1.38.
Loans, excluding specific programs, increased by $76.7 million, representing a 0.5% growth.
Deposits saw a significant increase of $1.320 billion, or 4.5% during the quarter.
Nonperforming assets remained low at 0.09% of average interest-earning assets.
Forward Guidance
Prosperity Bancshares anticipates continued growth in Texas and Oklahoma due to favorable business conditions and expects loan growth and improved net interest margin with potential rate hikes.
Positive Outlook
- Texas and Oklahoma are expected to outperform other states in growth rate.
- Companies and individuals continue to move to Texas and Oklahoma due to lower tax rates and a business-friendly environment.
- Companies will need more infrastructure and buildings.
- People will need more housing and consumer staples.
- Banks are expected to finance the growth.
Challenges Ahead
- Not mentioned in the provided text.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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