You can bank on that; Prosperity Bancshares (NYSE: PB) to acquire American Bank for $321.5 million

Prosperity Bancshares Inc. (NYSE: PB) announced it will acquire American Bank Holding Corporation and its subsidiary American Bank N.A. in a deal valued at approximately $321.5 million.

Under the definitive merger agreement, Prosperity will issue 4,439,981 shares of common stock for all outstanding American Bank shares. The valuation was based on Prosperity’s closing price of $72.40 on July 16, 2025.

American Bank operates 18 banking offices and two loan production offices across South and Central Texas, including locations in Corpus Christi, San Antonio, Austin, Victoria and Houston. As of March 31, 2025, American Bank reported $2.5 billion in total assets, $1.8 billion in loans and $2.3 billion in deposits.

Following the merger, American Bank CEO Stephen Raffaele will become South Texas and San Antonio Area Chairman at Prosperity Bank, while Chairman Ben Wallace will serve as South Texas Senior Chairman. Both Raffaele and board member Patt Hawn Wallace will join Prosperity Bank’s board of directors.

The transaction has received unanimous approval from both companies’ boards of directors and is expected to close in the fourth quarter of 2025 or first quarter of 2026, subject to American Bank shareholder approval and regulatory approvals.

Prosperity Bancshares, headquartered in Houston, operates 283 banking locations across Texas and Oklahoma with $38.765 billion in assets as of March 31, 2025. American Bank was founded in Corpus Christi in 1970.

Stephens Inc. and Norton Rose Fulbright advised American Bank, while Keefe, Bruyette & Woods and Wachtell, Lipton, Rosen & Katz advised Prosperity.