Prosperity Bancshares in its acquisition of Southwest Bancshares

On October 1, 2025, Prosperity Bancshares, Inc. (NYSE: PB), the parent company of Prosperity Bank, and Southwest Bancshares, Inc., the parent holding company of Texas Partners Bank, headquartered in San Antonio, Texas, jointly announced the signing of a definitive merger agreement whereby Prosperity will acquire Southwest and Texas Partners.  Based on Prosperity’s closing price of $65.97 on September 29, 2025, the total consideration was valued at approximately $268.9 million.

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