Exhibit 99.1 PRESS RELEASE For more information contact: ® Prosperity Bancshares, Inc. Cullen Zalman Prosperity Bank Plaza Executive Vice President – Banking and Corporate Activities 4295 San Felipe 281.269.7199 Houston, Texas 77027 cullen.zalman@prosperitybankusa.com FOR IMMEDIATE RELEASE PROSPERITY BANCSHARES, INC. ® REPORTS THIRD QUARTER 2024 EARNINGS • Board approved increase in dividend of 3.57% to $0.58 for fourth quarter 2024, representing the 21st consecutive annual increase, with a compound annual ...

The upcoming report from Prosperity Bancshares (PB) is expected to reveal quarterly earnings of $1.30 per share, indicating an increase of 8.3% compared to the year-ago period. Analysts forecast revenues of $299.83 million, representing an increase of 7.8% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Befo ...

The market expects Prosperity Bancshares (PB) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to ...

Since my last article on Prosperity Bancshares (NYSE: PB ) the stock has achieved a total return of 25% in just over three months, an excellent performance considering that the S&P 500 was up 5% over the same period. Hi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets started about 5 years ago when I accidentally came across a video about trading. Tha ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 001-35388 PROSPERITY BANCSHARES, INC.® (Exact name of registrant as specified in its charter) TEXAS 74-2331986 (State or other juris ...

Financial Data and Key Metrics Changes - For Q2 2024, net income was $111 million or $1.17 per diluted share, slightly down from $110 million or $1.18 per diluted share in Q1 2024, impacted by merger-related expenses and provisions [11][12] - Net interest income before provision for credit losses increased to $258 million, up $20.5 million or 8.6% from $238 million in Q1 2024 [12][21] - The net interest margin on a tax-equivalent basis improved to 2.94% from 2.79% in Q1 2024 [12][22] Business Line Data and Key Metrics Changes - Loans totaled $22.3 billion at June 30, 2024, an increase of $666 million or 3.1% year-over-year, primarily due to the Lone Star merger [13][14] - Deposits reached $27.9 billion, up $552 million or 2% compared to the previous year, with linked core deposits increasing by $757 million or 2.8% from Q1 2024 [15][16] - Non-interest income was $46 million, up from $38.9 million in Q1 2024, driven by a net gain of $10.7 million from Visa stock conversion [23][24] Market Data and Key Metrics Changes - Non-performing assets totaled $89 million, representing 25 basis points of quarterly average interest-earning assets, an increase from $83 million or 24 basis points in Q1 2024 [16][26] - The allowance for credit losses on loans was $359 million, which is 4.02 times the amount of non-performing assets [17] Company Strategy and Development Direction - The company aims to grow both organically and through mergers and acquisitions, focusing on building core customer relationships and maintaining sound asset quality [18][20] - Management is optimistic about future growth, citing Texas's business-friendly environment as a key factor for expansion [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to create long-term shareholder value, having returned $284 million to shareholders over the past year [19] - The company anticipates continued improvement in net interest margin and overall financial performance, despite potential economic fluctuations [19][20] Other Important Information - The efficiency ratio for Q2 2024 was 51.8%, compared to 49.1% in Q1 2024, influenced by merger-related expenses [25] - The company has not purchased broker deposits to offset deposit losses, focusing instead on building core deposits [16] Q&A Session Summary Question: Update on NIM outlook for Q4 - Management expects net interest margin to improve slightly, with an exit margin around 3% [35][41] Question: Thoughts on provisioning - Provisioning was primarily related to the CECL calculation and the merger, with sufficient reserves in place [59][65] Question: Expense guidance for Q3 - Non-interest expense is expected to be between $141 million and $143 million, including costs from the Lone Star acquisition [66] Question: Loan growth strategy - The company plans to be more opportunistic in the secondary markets for residential loans, maintaining a balance in their portfolio [77] Question: Overall health of non-owner occupied commercial real estate - The commercial real estate book remains strong and competitive, with healthy lending practices [103]

The reported revenue represents a surprise of +5.08% over the Zacks Consensus Estimate of $290.06 million. With the consensus EPS estimate being $1.20, the EPS surprise was +1.67%. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Prosperity Bancshares performed in the just reported quarter in terms of the metrics most wide ...

This quarterly report represents an earnings surprise of 1.67%. A quarter ago, it was expected that this financial holding company would post earnings of $1.15 per share when it actually produced earnings of $1.18, delivering a surprise of 2.61%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While Prosperity Bancshares has underperformed the market so far t ...

Prosperity Bancshares, Inc. Cullen Zalman Prosperity Bank Plaza Executive Vice President – Banking and Corporate Activities 4295 San Felipe 281.269.7199 Houston, Texas 77027 cullen.zalman@prosperitybankusa.com PROSPERITY BANCSHARES, INC. ® REPORTS SECOND QUARTER 2024 EARNINGS Exhibit 99.1 ® FOR IMMEDIATE RELEASE PRESS RELEASE For more information contact: HOUSTON, July 24, 2024. Prosperity Bancshares, Inc. ® (NYSE: PB), the parent company of Prosperity Bank ® (collectively, "Prosperity"), reported net incom ...