Prosperity Bancshares in its $2 billion acquisition of Stellar Bancorp

On January 28, 2026, Prosperity Bancshares, Inc. (NYSE: PB), the parent company of Prosperity Bank, and Stellar Bancorp, Inc. (NYSE: STEL), the parent holding company of Stellar Bank, headquartered in Houston, Texas, announced the signing of a definitive merger agreement whereby Prosperity will acquire Stellar and Stellar Bank in a cash and stock transaction valued at approximately $2.0 billion.  The transaction is the third acquisition announced by Prosperity since the beginning of July 2025.

Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Prosperity.