On July 1, Prosperity Bancshares Inc., the parent company of Houston-based Prosperity Bank, announced the completion of the merger of Stellar Bancorp Inc. with and into Prosperity and the merger of Stellar’s wholly owned subsidiary, Houston-based Stellar Bank with and into Prosperity Bank.
Robert R. Franklin Jr., Stellar’s CEO and Stellar Bank’s executive chairman, joined Prosperity and Prosperity Bank as vice chairman, and 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. In addition, Franklin and Joe B. Swinbank, a Stellar Bancorp director, have joined the board of Prosperity Bancshares, and Vitulli and Pat Parsons, a Stellar Bank board member, have joined the board of Prosperity Bank.
Stellar Bank operates 52 banking offices in the Houston, Beaumont and East Texas areas and in Dallas. Stellar banking locations will continue to operate under the Stellar Bank name until the operational integration, which is scheduled for March 2027. At that time, Stellar customers may begin using any of Prosperity Bank’s full-service banking centers.
As of March 31, Prosperity Bancshares Inc. reported $43.619 billion in assets. It serves consumers and businesses throughout Texas and Oklahoma. Established in 1983, Prosperity Bank operates 311 full-service banking locations: 62 in the Houston area, 36 in the South Texas, 61 in the Dallas/Fort Worth metroplex, 21 in East Texas, 28 in Central Texas, 45 in West Texas, 15 in the Bryan/College Station area, six in Central Oklahoma, eight in the Tulsa, Oklahoma, area, 18 in the Central, South Texas and San Antonio areas currently doing business as American Bank and 11 in the San Antonio area doing business as Texas Partners Bank.
