On March 19, Prosperity Bancshares Inc., the parent company of El Campo-based Prosperity Bank, announced that it has received all regulatory approvals to complete its previously announced acquisition of Lone Star State Bancshares Inc., the parent company of Lubbock-based Lone Star State Bank of West Texas.
Alan Lackey, CEO of Lone Star State Bank, will join Prosperity Bank as West Texas area president and Melisa Roberts, Lone Star’s chief lending officer, will join Prosperity Bank as West Texas area vice president. Additional members of Lone Star State Bank management will maintain leadership roles in the combined organization.
Lone Star State Bank locations will continue to operate under the Lone Star name until the operational integration, which is scheduled for October 28, 2024. At that time, those customers may begin using any of Prosperity Bank’s 288 banking centers. Upon completion of the merger, Prosperity Bank’s West Texas region will have 49 banking centers.
Lone Star State Bank operates five banking offices in West Texas, including its main office in Lubbock and one banking center in each of Brownfield, Midland, Odessa and Big Spring. As of December 31, 2023, Lone Star State Bank reported assets of $1.372 billion, total loans of $1.081 billion and total deposits of $1.211 billion.
Established in 1983, Prosperity Bank currently operates 283 full-service banking locations in Texas and Oklahoma.
