Prosperity Bancshares announced the completion of its merger with Stellar Bancorp. The merger of Stellar Bancorp with and into Prosperity, along with the merger of Stellar Bank with and into Prosperity Bank, became effective today. Prosperity Bancshares is the parent company of Prosperity Bank. Stellar Bank was headquartered in Houston, Texas.
Under the terms of the merger agreement, Prosperity issued 0.3803 shares of Prosperity common stock and paid $11.36 in cash for each outstanding share of Stellar common stock.
Robert R. Franklin, Jr., Stellar’s CEO and Stellar Bank’s executive chairman, joined Prosperity and Prosperity Bank as vice chairman.
Ramon Vitulli, Stellar’s president and Stellar Bank’s CEO, joined Prosperity Bank as Houston area chairman.
Additional members of Stellar Bank management will maintain leadership roles in the combined organization.
Franklin and Joe B. Swinbank, a Stellar director, have joined the Prosperity Board of Directors.
Vitulli and Pat Parsons, a director at Stellar Bank, have joined the Prosperity Bank Board of Directors.
Stellar operates 52 banking offices, including its main office in Houston and locations across the Houston, Beaumont, East Texas, and Dallas markets.
Stellar banking locations will continue to operate under the Stellar Bank name until the operational integration, which is scheduled for March 2027.
After the integration, Stellar customers may begin using any of Prosperity Bank’s full-service banking centers.
As of March 31, 2026, Prosperity Bancshares had $43.619 billion in assets.
Prosperity is a Houston-based regional financial holding company providing personal banking services and investments to consumers and businesses across Texas and Oklahoma.
As of June 30, 2026, Prosperity operated 311 full-service banking locations across Houston, South Texas, Dallas/Fort Worth, East Texas, Central Texas, West Texas, Bryan/College Station, Central Oklahoma, Tulsa, and other Texas markets.
Prosperity offers deposit and loan products, digital banking, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.
