Prosperity Bancshares, Inc. (NYSE:PB) Q1 2023 Earnings Conference Call April 26, 2023 11:30 AM ET Company Participants Charlotte Rasche - Executive Vice President & General Counsel David Zalman - Senior Chairman & Chief Executive Officer Asylbek Osmonov - Chief Financial Officer Tim Timanus - Chairman Kevin Hanigan - President & Chief Operating Officer Conference Call Participants Brady Gailey - KBW Peter Winter - D.A. Davidson Brad Milsaps - Piper Sandler Michael Rose - Raymond James Brett Rabatin - Hovde ...

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This presentation contains, and the remarks by Prosperity's management at the annual meeting may contain, forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, oral or written forward-looking statements may also be included in other information release ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2022 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 | | --- | --- | | (Sta ...

Financial Data and Key Metrics Changes - The annualized return on average assets for Q4 2022 was 1.47%, and the annualized return on average tangible common equity was 16.2% [10] - Net income for Q4 2022 was $137.9 million, an increase of 8.7% compared to $126 million in Q4 2021 [11] - Net income per diluted common share for Q4 2022 was $1.51, up 9.4% from $1.38 in Q4 2021 [11] - Total deposits decreased to $28.5 billion, a decline of 7.3% from $30.8 billion in Q4 2021 [13] - The efficiency ratio improved to 40.8% for Q4 2022, compared to 42.8% in Q4 2021 [12] Business Line Data and Key Metrics Changes - Loans excluding Warehouse Purchase Program and PPP loans increased to $18 billion, up 8.5% from $16.7 billion in Q4 2021 [12] - Net interest income before provision for credit losses for Q4 2022 was $256.1 million, an increase of 4.6% from $244.8 million in Q4 2021 [19] - Noninterest income for Q4 2022 was $37.7 million, compared to $35.8 million in Q4 2021 [112] Market Data and Key Metrics Changes - The company expects growth in loans to continue into 2023, driven by strong consumer spending, particularly in tourism, restaurant, and hospitality sectors [17] - The economies in Texas and Oklahoma are anticipated to outperform other states due to lower tax rates and a business-friendly environment [18] Company Strategy and Development Direction - The company is excited about its pending merger with First Bancshares of Texas and Lone Star State Bancshares, which will add approximately $3 billion in assets and increase market share in West Texas [16] - The company aims to focus on loan growth rather than bond purchases, indicating a preference for increasing the loan portfolio [134] Management's Comments on Operating Environment and Future Outlook - Management believes that the net interest margin will continue to increase over the next several years as the bond portfolio reprices to higher yields [18] - The company is optimistic about loan growth, projecting mid-single digit to high single-digit growth for 2023 [140] Other Important Information - The allowance for credit losses on loans was $311 million at December 31, 2022, compared to $316 million at the end of 2021 [15] - Non-performing assets totaled $27 million, representing 8 basis points of quarterly average interest-earning assets [14] Q&A Session Summary Question: What is the outlook for net interest margin? - Management indicated that while the net interest margin may be flat in the short term, significant increases are expected in the long term as the bond portfolio reprices higher [127][130] Question: How is the company managing deposit pressures? - Management noted that they have good relationships with public fund customers and are managing deposit rates carefully to retain deposits [28][60] Question: What is the company's strategy regarding M&A? - The company plans to remain active in M&A, particularly looking for opportunities during market dislocations, while being cautious about the impact of AOCI on larger deals [145][147]

Acquisitions & Efficiency Ratio 1 , 1 , 2 21, 0 22,0 22, 1 22, 22, 2,1 ,0 , , 0 , , 0 0 ,000 10,000 1 ,000 20,000 2 ,000 0,000 ,000 0,000 ,000 2012 201 201 201 201 201 201 201 2020 2021 2022 21 22 ' 100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 20 0 10 0 0 0 % of Assets Acquired 23.7% 20.9% 11.2% 0.0% 2.5% 0.0% 0.0% 31.3% 0.0% 0.0% 0.0% 0.0% 0.0% Efficiency Ratio(2) Source: Company Documents (1) Representative of target assets at closing (2) Calculated by dividing total noninterest expense, excluding credit loss provis ...

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 September 30, 2022 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) | Securities registered pursuant ...

Prosperity Bancshares, Inc. (NYSE:PB) Q3 2022 Earnings Conference Call October 26, 2022 11:30 AM ET Company Participants Charlotte Rasche - EVP & General Counsel David Zalman - Senior Chairman & CEO Asylbek Osmonov - CFO Tim Timanus - Chairman Kevin Hanigan - President, COO & Director Randy Hester - SEVP & Chief Lending Officer Conference Call Participants Jennifer Demba - Truist Securities Brady Gailey - KBW David Rochester - Compass Point Ebrahim Poonawala - Bank of America Merrill Lynch Bill Carcache - W ...

Investor Presentation Third Quarter 2022 "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains, and the remarks by Prosperity's management on the conference call may contain, forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q FOR THE QUARTERLY PERIOD ENDED June 30, 2022 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 ...

Prosperity Bancshares, Inc. (NYSE:PB) Q2 2022 Earnings Conference Call July 27, 2022 11:30 AM ET Company Participants Charlotte Rasche - Executive Vice President, General Counsel David Zalman - Senior Chairman and Chief Executive Officer Asylbek Osmonov - Chief Financial Officer Tim Timanus - Chairman Kevin Hanigan - President and Chief Operating Officer Conference Call Participants Jennifer Demba - Truist Securities Brett Rabatin - Hovde Group Brady Gailey - KBW Brad Milsaps - Piper Sandler Ebrahim Poonawa ...