Thanks to the acquisition of two West Texas-based banks, Houston-based Prosperity Bancshares (NYSE: PB) will enter new markets and become the largest bank in the Midland-Odessa metropolitan area.
, the parent company of Lone Star State Bank of West Texas, are both expected to close in the first quarter of 2023, Prosperity announced Oct. 11.
First Bancshares of Texas has $2.12 billion in total assets with total deposits of $1.78 billion. It operates 16 banking locations in West, North and Central Texas, and the acquisition allows Prosperity to enter new markets. Lone Star State Bancshares operates five banking locations in Lubbock, Brownfield, Midland, Odessa and Big Spring. The company has $1.31 billion in total assets and $1.17 billion in deposits.
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