On July 18, Prosperity Bancshares Inc., the parent company of Houston-based Prosperity Bank, and American Bank Holding Corp., the parent holding company of Corpus Christi-based American Bank NA, jointly announced the signing of a definitive merger agreement whereby Prosperity Bancshares will acquire American Bank Holding Corp. and American Bank. The merger has been unanimously approved by the boards of both companies and is expected to close during the fourth quarter of 2025 or first quarter of 2026.
Established in 1970, American Bank operates 18 banking offices and two loan production offices in South and Central Texas, including its main office in Corpus Christi and branches in San Antonio, Austin, Victoria, Port Aransas, New Braunfels, Goliad and Rockport. One of its LPOs is in Houston. As of March 31, American Bank Holding Corp., on a consolidated basis, reported total assets of $2.5 billion, total loans of $1.8 billion and total deposits of $2.3 billion.
Stephen Raffaele, American Bank’s chief executive officer and president, will join Prosperity Bank as South Texas and San Antonio area chairman, and Ben Wallace, American Bank’s chairman, will join Prosperity Bank as South Texas senior chairman. Additional members of American Bank management will maintain leadership roles in the combined organization. In addition, upon completion of the merger, Raffaele and Patt Hawn Wallace, chair of American Bank Holding Corp. and a director of American Bank, will join the board of directors of Prosperity Bank.
“We have followed American Bank closely for more than two decades and have tremendous respect for the bank and for the people who have contributed to its success,” says David Zalman, senior chair and CEO of Prosperity. “This combination will strengthen our presence and operations in South Texas and surrounding areas and enhance our presence in Central Texas, including in San Antonio, a highly desirable, high-growth area.”
“Over American Bank’s 50-plus year history of growth and success, we have placed our focus on relationship banking and excellent customer service,” Raffaele notes. “By joining forces with Prosperity, we will continue our journey of service and success, but with all the advantages of the strength and wherewithal of a combined larger and premier banking institution.”
American Bank Holding was advised by Stephens Inc., as financial advisor, and Norton Rose Fulbright, as legal counsel. Keefe, Bruyette & Woods, a Stifel Company, is serving as financial advisor to Prosperity Bancshares and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Prosperity.
Established in 1983, Prosperity Bank operates 283 full-service banking locations: 62 in the Houston region, 33 in South Texas, 61 in the Dallas/Fort Worth metroplex, 22 in East Texas, 31 in the Central Texas, 45 in West Texas, 15 in the Bryan/College Station region, six in Central Oklahoma and eight in the Tulsa region.
