Prosperity Bancshares, Inc.® Announces Resignation Of President And
Chief Operating Officer
HOUSTON, Nov. 26, 2012 /PRNewswire/ -- Prosperity
Bancshares, Inc.® (NYSE: PB) (Prosperity), the parent
company of Prosperity Bank®, announced that James D. Rollins III, President and Chief
Operating Officer of Prosperity and President of Prosperity Bank
has resigned to pursue another opportunity.
"On behalf of everyone at Prosperity, we would like to thank Dan
for the many contributions he has made to the organization over the
years. We are excited for Dan in his new role and we wish him
success in his new endeavor," commented David Zalman, Chairman and Chief Executive
Officer of Prosperity.
Prosperity Bank has a strong executive management team and for
the present time, Mr. Rollins' responsibilities at Prosperity and
Prosperity Bank will be divided among members of the Bank's
Executive Committee, which consists of David Zalman – Senior Chairman and Chief
Executive Officer, H.E. Timanus, Jr.
– Chairman and Chief Operating Officer, David Hollaway – Chief Financial Officer,
Chris Bagley – Chief Credit Officer,
Randy Hester – Chief Lending Officer
and Charlotte Rasche – General
Counsel. These individuals have a significant amount of
experience in the banking industry and Prosperity expects a smooth
transition of Dan's duties. David
Zalman will assume the titles of President of Prosperity and
Prosperity Bank.
Prosperity Bancshares, Inc.®
Prosperity Bancshares, Inc.®, recently named
"America's Best Bank" by Forbes, is a $13.9
billion Houston, Texas
based regional financial holding company, formed in 1983. Operating
under a community banking philosophy and seeking to develop broad
customer relationships based on service and convenience, Prosperity
offers a variety of traditional loan and deposit products to its
customers, which consist primarily of small and medium sized
businesses and consumers. In addition to established banking
products, Prosperity offers a complete line of services including:
Internet Banking services at http://www.prosperitybanktx.com,
Retail Brokerage Services, MasterMoney Debit Cards, and 24 hour
voice response banking. Prosperity currently operates two
hundred thirteen (213) full service banking locations; fifty-nine
(59) in the Houston area; twenty
(20) in the South Texas area
including Corpus Christi and
Victoria; thirty-five (35) in the
Dallas/Fort Worth area; twenty-one
(21) in the East Texas area;
thirty-four (34) in the Central
Texas area including Austin
and San Antonio; thirty-four (34)
in the West Texas area including
Lubbock, Midland/Odessa and Abilene; and ten (10) in the Bryan/College Station area.
In connection with the proposed merger of East Texas Financial
Services, Inc. into Prosperity, Prosperity has filed with the
Securities and Exchange Commission a registration statement on Form
S-4 to register the shares of Prosperity's common stock to be
issued to the stockholders of East Texas Financial Services. The
registration statement includes a proxy statement/prospectus which
was sent to the stockholders of East Texas Financial Services
seeking their approval of the proposed transaction.
WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION
STATEMENT ON FORM S-4, THE PROXY STATEMENT/PROSPECTUS INCLUDED
WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER
RELEVANT DOCUMENTS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THEY
CONTAIN IMPORTANT INFORMATION ABOUT PROSPERITY, EAST TEXAS FINANCIAL SERVICES AND THE PROPOSED
TRANSACTION.
Investors and security holders may obtain free copies of these
documents through the website maintained by the Securities and
Exchange Commission at http://www.sec.gov. Documents filed
with the SEC by Prosperity will be available free of charge by
directing a request by telephone or mail to Prosperity Bancshares,
Inc., Prosperity Bank Plaza, 4295 San Felipe, Houston, Texas 77027 Attn: Investor Relations.
Prosperity's telephone number is (281) 269-7199.
"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
securities laws that are based on current expectations,
assumptions, estimates and projections about Prosperity, and its
subsidiaries. These forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of Prosperity's control,
that may cause actual results to differ materially from those
expressed or implied by the forward-looking statements. These
risks and uncertainties include but are not limited to whether
Prosperity can: successfully identify acquisition targets and
integrate the businesses of acquired companies and banks;
continue to sustain its current internal growth rate or total
growth rate; provide products and services that appeal to its
customers; continue to have access to debt and equity capital
markets; and achieve its sales objectives. Other risks
include, but are not limited to: the possibility that credit
quality could deteriorate; actions of competitors; changes in laws
and regulations (including changes in governmental interpretations
of regulations and changes in accounting standards); a
deterioration or downgrade in the credit quality and credit agency
ratings of the securities in Prosperity's securities portfolio;
customer and consumer demand, including customer and consumer
response to marketing; effectiveness of spending, investments or
programs; fluctuations in the cost and availability of supply chain
resources; economic conditions, including currency rate
fluctuations and interest rate fluctuations; weather; and the stock
price volatility associated with "small-cap" companies. These
and various other factors are discussed in Prosperity's Annual
Report on Form 10-K for the year ended December 31, 2011 and other reports and
statements Prosperity has filed with the SEC. Copies of the SEC
filings for Prosperity Bancshares® may be downloaded
from the Internet at no charge from
www.prosperitybanktx.com.
SOURCE Prosperity Bancshares, Inc.