Q10001068851--12-31false10001068851us-gaap:ExtendedMaturityMember2025-01-012025-03-310001068851pb:TroubledDebtRestructuringMember2026-03-310001068851us-gaap:AdditionalPaidInCapitalMember2024-12-310001068851pb:StellarBancorpIncMember2026-01-270001068851pb:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialAndIndustrialSectorMember2025-12-310001068851pb:AmericanBankHoldingCorporationMember2026-01-012026-01-010001068851pb:CommercialLoanInterestRateSwapAndCapMemberpb:LoanCustomerCounterpartyMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMemberpb:Grade3Member2026-03-310001068851us-gaap:RestrictedStockMember2025-01-012025-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMemberpb:Grade3Member2026-03-310001068851pb:StellarBancorpIncMember2026-01-282026-01-280001068851pb:SecuritiesConcentrationRiskMemberpb:OtherThanUSGovernmentAndAgenciesMemberus-gaap:StockholdersEquityTotalMember2026-01-012026-03-310001068851us-gaap:RealEstateSectorMemberpb:Grade3Memberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851us-gaap:ExtendedMaturityMember2026-01-012026-03-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851us-gaap:RealEstateSectorMemberus-gaap:SpecialMentionMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851pb:ForwardMortgageBackedSecuritiesTradesMember2026-01-012026-03-310001068851us-gaap:CommercialAndIndustrialSectorMemberus-gaap:SpecialMentionMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMemberus-gaap:FinancialAssetPastDueMember2026-03-310001068851pb:ForwardMortgageBackedSecuritiesTradesMember2025-12-310001068851pb:FinancingReceivables30To89DaysPastDueMemberus-gaap:CommercialAndIndustrialSectorMember2026-03-3100010688512025-03-310001068851us-gaap:InternalInvestmentGradeMemberpb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:CommercialAndIndustrialSectorMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851us-gaap:CommonStockMember2025-01-012025-03-310001068851pb:SubstandardAndImpairedMember2026-03-310001068851us-gaap:InternalInvestmentGradeMemberpb:ConsumerAndOtherMember2026-03-310001068851pb:ConsumerAndOtherMemberpb:SubstandardAndImpairedMember2026-03-310001068851pb:ConsumerAndOtherMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2025-03-310001068851pb:CommercialLoanInterestRateSwapAndCapMemberpb:LoanCustomerCounterpartyMember2025-12-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMember2026-01-012026-03-310001068851us-gaap:CommonStockMember2024-12-310001068851us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851pb:Grade4Memberus-gaap:CommercialAndIndustrialSectorMember2026-03-310001068851pb:FinancingReceivables30To89DaysPastDueMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-12-310001068851pb:ConsumerAndOtherMemberus-gaap:FinancialAssetPastDueMember2026-03-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberpb:FinancialInstitutionCounterpartyMember2025-12-310001068851us-gaap:CollateralizedMortgageObligationsMember2026-03-310001068851pb:SouthwestBancsharesIncMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851pb:CommercialLoanInterestRateSwapAndCapMemberpb:FinancialInstitutionCounterpartyMember2025-12-310001068851pb:FinancialAssetAcquiredWithSeasonedLoansMember2024-12-310001068851us-gaap:USStatesAndPoliticalSubdivisionsMember2025-12-310001068851pb:AmericanMergerMember2026-01-012026-03-310001068851us-gaap:CommercialAndIndustrialSectorMemberpb:Grade3Member2026-03-310001068851us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851pb:FamilyResidential14IncludesHomeEquityMemberpb:FinancingReceivables30To89DaysPastDueMemberus-gaap:RealEstateSectorMember2025-12-310001068851us-gaap:RealEstateSectorMemberus-gaap:FinancialAssetPastDueMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2025-12-310001068851pb:FinancingReceivables30To89DaysPastDueMemberpb:ConsumerAndOtherMember2026-03-310001068851us-gaap:StandbyLettersOfCreditMemberus-gaap:GuaranteeObligationsMember2026-03-310001068851us-gaap:FairValueInputsLevel2Memberpb:ForwardMortgageBackedSecuritiesTradesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851pb:ConsumerAndOtherMember2025-12-310001068851us-gaap:CommonStockMember2025-03-310001068851us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-12-310001068851us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-01-012025-03-310001068851us-gaap:InterestRateLockCommitmentsMember2026-01-012026-03-310001068851us-gaap:USStatesAndPoliticalSubdivisionsMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMember2024-12-310001068851us-gaap:CommonStockMemberpb:AmericanBankHoldingCorporationMember2026-01-012026-03-310001068851pb:MergerMember2026-01-012026-03-310001068851pb:ConsumerAndOtherMember2026-03-310001068851us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851pb:Grade4Member2026-03-310001068851us-gaap:FinancialAssetPastDueMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851us-gaap:RetainedEarningsMember2025-01-012025-03-310001068851us-gaap:MortgageBackedSecuritiesMember2026-03-310001068851us-gaap:InterestRateSwapMemberpb:FinancialInstitutionCounterpartyMember2026-03-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2025-12-310001068851pb:ConsumerAndOtherMemberus-gaap:PrimeMember2026-03-310001068851us-gaap:USGovernmentDebtSecuritiesMember2025-12-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMemberpb:SubstandardAndImpairedMember2026-03-310001068851us-gaap:CommercialAndIndustrialSectorMember2026-01-012026-03-310001068851us-gaap:InterestRateLockCommitmentsMember2025-12-310001068851us-gaap:AdditionalPaidInCapitalMember2026-03-310001068851us-gaap:CommercialAndIndustrialSectorMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMemberus-gaap:SpecialMentionMember2026-03-310001068851us-gaap:MortgageBackedSecuritiesMember2025-12-310001068851pb:AmericanBankHoldingCorporationMemberpb:FinancialAssetAcquiredWithSeasonedLoansMember2026-03-310001068851pb:FinancingReceivables30To89DaysPastDueMemberpb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:RealEstateSectorMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310001068851us-gaap:PrimeMemberus-gaap:CommercialAndIndustrialSectorMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:SubstandardAndNonImpairedMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:PrimeMemberus-gaap:RealEstateSectorMember2026-03-310001068851pb:FinancingReceivables30To89DaysPastDueMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2025-12-310001068851us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:RetainedEarningsMember2026-01-012026-03-310001068851us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851pb:FinancingReceivables30To89DaysPastDueMember2025-12-310001068851pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-01-012026-03-310001068851us-gaap:FairValueMeasurementsRecurringMemberpb:FinancialInstitutionCounterpartyMember2026-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMemberpb:SubstandardAndNonImpairedMember2026-03-310001068851pb:LoneStarMergerMember2025-01-012025-12-310001068851pb:TroubledDebtRestructuringMember2025-12-310001068851us-gaap:AdditionalPaidInCapitalMember2025-12-310001068851us-gaap:PrimeMemberpb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851pb:ConsumerAndOtherMemberus-gaap:SpecialMentionMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-01-012025-03-310001068851us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2025-01-012025-03-310001068851pb:SecuritiesConcentrationRiskMemberpb:OtherThanUSGovernmentAndAgenciesMemberus-gaap:StockholdersEquityTotalMember2025-01-012025-12-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:SubstandardAndImpairedMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851pb:AmericanBankHoldingCorporationMemberus-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001068851us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-310001068851us-gaap:FairValueMeasurementsRecurringMemberpb:FinancialInstitutionCounterpartyMember2025-12-310001068851us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851pb:CommercialLoanInterestRateSwapAndCapMemberpb:FinancialInstitutionCounterpartyMember2026-03-310001068851us-gaap:CorporateDebtSecuritiesMember2025-12-310001068851us-gaap:CommercialAndIndustrialSectorMemberpb:SubstandardAndNonImpairedMember2026-03-3100010688512024-12-310001068851pb:AmericanBankHoldingCorporationMember2026-01-012026-03-310001068851us-gaap:CommercialAndIndustrialSectorMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001068851us-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2025-12-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMemberus-gaap:FinancialAssetPastDueMember2025-12-310001068851us-gaap:RestrictedStockMember2026-01-012026-03-310001068851pb:FinancingReceivables30To89DaysPastDueMemberus-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2025-12-310001068851us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-01-012026-03-310001068851us-gaap:RetainedEarningsMember2025-03-310001068851pb:SouthwestBancsharesIncMemberus-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310001068851pb:ConsumerAndOtherMember2026-01-012026-03-310001068851pb:ConsumerAndOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001068851us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2025-03-310001068851pb:ForwardMortgageBackedSecuritiesTradesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851us-gaap:InternalInvestmentGradeMemberus-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-12-310001068851pb:FinancingReceivableNonAccrualStatusMemberpb:WarehousePurchaseProgramLoansMemberus-gaap:NonperformingFinancingReceivableMemberpb:TroubledDebtRestructuringMember2025-12-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310001068851us-gaap:USGovernmentDebtSecuritiesMember2026-03-310001068851us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2026-01-012026-03-310001068851us-gaap:CommercialAndIndustrialSectorMember2024-12-310001068851srt:MaximumMember2026-03-310001068851pb:Grade4Memberpb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-310001068851us-gaap:AgriculturalSectorMember2026-03-310001068851pb:NonperformingFinancingReceivableAssetsMember2025-12-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310001068851pb:ConsumerAndOtherMemberus-gaap:FinancialAssetPastDueMember2025-12-310001068851us-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2024-12-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMember2025-12-310001068851pb:Grade3Member2026-03-3100010688512025-12-310001068851us-gaap:CarryingReportedAmountFairValueDisclosureMember2025-12-310001068851us-gaap:InterestRateLockCommitmentsMember2025-01-012025-03-310001068851us-gaap:InterestRateBelowMarketReductionMemberus-gaap:RealEstateSectorMember2025-01-012025-03-310001068851us-gaap:RetainedEarningsMember2026-03-310001068851us-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851us-gaap:UnusedLinesOfCreditMemberus-gaap:GuaranteeObligationsMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2024-12-310001068851us-gaap:FairValueInputsLevel2Memberpb:ForwardMortgageBackedSecuritiesTradesMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:CarryingReportedAmountFairValueDisclosureMember2026-03-310001068851pb:StockIncentive2020PlanMember2020-03-030001068851us-gaap:InterestRateLockCommitmentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851us-gaap:InternalInvestmentGradeMember2026-03-310001068851pb:WarehousePurchaseProgramLoansMember2026-03-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberpb:LoanCustomerCounterpartyMember2026-03-310001068851us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-03-310001068851pb:ResidentialMortgageLoansMember2026-03-310001068851us-gaap:CommonStockMember2026-03-310001068851us-gaap:CommonStockMember2025-12-310001068851pb:Grade4Memberus-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851us-gaap:FinancialAssetPastDueMember2026-03-310001068851us-gaap:ExtendedMaturityMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-01-012025-03-3100010688512026-01-012026-03-310001068851us-gaap:ExtendedMaturityMemberus-gaap:RealEstateSectorMember2025-01-012025-03-310001068851us-gaap:FairValueMeasurementsRecurringMemberpb:LoanCustomerCounterpartyMember2026-03-310001068851pb:SouthwestBancsharesIncMember2026-03-310001068851pb:FinancialAssetAcquiredWithSeasonedLoansMember2025-03-310001068851pb:ConsumerAndOtherMemberpb:SubstandardAndNonImpairedMember2026-03-310001068851pb:ConsumerAndOtherMember2024-12-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMemberus-gaap:FinancialAssetPastDueMember2025-12-310001068851us-gaap:CollateralizedMortgageObligationsMember2025-12-310001068851pb:FamilyResidential14IncludesHomeEquityMemberpb:FinancingReceivables30To89DaysPastDueMemberus-gaap:RealEstateSectorMember2026-03-310001068851pb:AmericanBankHoldingCorporationMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851pb:StellarBancorpIncMember2026-01-272026-01-270001068851us-gaap:FairValueMeasurementsRecurringMemberpb:LoanCustomerCounterpartyMember2025-12-310001068851us-gaap:InterestRateLockCommitmentsMember2026-03-310001068851pb:FinancialAssetAcquiredWithSeasonedLoansMember2026-03-310001068851us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2025-12-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMemberpb:SubstandardAndNonImpairedMember2026-03-310001068851pb:ResidentialMortgageLoansMember2025-12-310001068851us-gaap:MortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851us-gaap:RestrictedStockMemberpb:StockIncentive2020PlanMember2026-01-012026-03-3100010688512025-01-012025-12-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMemberpb:SubstandardAndNonImpairedMember2026-03-310001068851us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-310001068851us-gaap:InterestRateSwapMember2026-03-310001068851pb:ConsumerAndOtherMember2025-03-310001068851pb:HoustonTexasMemberpb:AmericanBankHoldingCorporationMember2026-01-010001068851us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMemberpb:SubstandardAndImpairedMember2026-03-310001068851us-gaap:PrimeMember2026-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2024-12-310001068851us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-12-310001068851us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2025-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310001068851pb:FinancingReceivableNonAccrualStatusMemberus-gaap:NonperformingFinancingReceivableMember2025-12-310001068851pb:FinancingReceivables30To89DaysPastDueMemberus-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-01-012025-03-310001068851pb:SouthwestBancsharesIncMember2026-02-012026-02-010001068851us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberpb:LoanCustomerCounterpartyMember2025-12-310001068851pb:MergerMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851us-gaap:FinancialAssetPastDueMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-12-310001068851pb:FinancingReceivables30To89DaysPastDueMemberpb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2025-12-310001068851us-gaap:CorporateDebtSecuritiesMember2026-03-310001068851us-gaap:FinancialAssetPastDueMember2025-12-310001068851us-gaap:RealEstateSectorMemberus-gaap:SpecialMentionMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2026-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMemberpb:Grade3Member2026-03-310001068851pb:WarehousePurchaseProgramLoansMemberpb:Grade3Member2026-03-310001068851pb:Grade4Memberus-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001068851pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-12-310001068851us-gaap:PrimeMemberus-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851us-gaap:NonperformingFinancingReceivableMember2025-12-310001068851pb:FinancingReceivables30To89DaysPastDueMember2026-03-310001068851pb:ForwardMortgageBackedSecuritiesTradesMemberus-gaap:FairValueMeasurementsRecurringMember2026-03-310001068851us-gaap:CommercialAndIndustrialSectorMember2025-03-310001068851us-gaap:CollateralizedSecuritiesMember2026-03-310001068851pb:ForwardMortgageBackedSecuritiesTradesMember2026-03-310001068851pb:ForwardMortgageBackedSecuritiesTradesMember2025-01-012025-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851us-gaap:CommonStockMember2026-01-012026-03-310001068851pb:SouthwestBancsharesIncMemberpb:FinancialAssetAcquiredWithSeasonedLoansMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-12-310001068851us-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-01-012026-03-310001068851pb:FinancialAssetAcquiredWithSeasonedLoansMember2026-01-012026-03-310001068851us-gaap:RetainedEarningsMember2025-12-310001068851us-gaap:EstimateOfFairValueFairValueDisclosureMember2026-03-310001068851pb:FinancingReceivableNonAccrualStatusMemberpb:WarehousePurchaseProgramLoansMemberus-gaap:NonperformingFinancingReceivableMemberpb:TroubledDebtRestructuringMember2026-03-310001068851pb:ConsumerAndOtherMember2025-01-012025-03-310001068851pb:ConsumerAndOtherMemberpb:Grade4Member2026-03-310001068851us-gaap:RetainedEarningsMember2024-12-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:CollateralizedMortgageObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2025-12-310001068851us-gaap:CommercialAndIndustrialSectorMember2025-01-012025-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMemberus-gaap:SpecialMentionMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2025-03-310001068851pb:SouthwestBancsharesIncMember2026-01-012026-03-310001068851pb:SouthwestMergerMember2026-01-012026-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2025-03-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-01-012026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMember2025-01-012025-03-310001068851us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberpb:FinancialInstitutionCounterpartyMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMemberus-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2026-03-310001068851us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2025-12-310001068851pb:FinancialAssetAcquiredWithSeasonedLoansMemberpb:MergerMember2026-03-310001068851pb:NonperformingFinancingReceivableAssetsMember2026-03-310001068851us-gaap:GuaranteeObligationsMember2026-03-310001068851us-gaap:CommercialAndIndustrialSectorMember2026-03-310001068851us-gaap:ExtendedMaturityMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-01-012026-03-3100010688512026-03-3100010688512026-05-040001068851pb:ConsumerAndOtherMemberpb:Grade3Member2026-03-310001068851pb:FinancialAssetAcquiredWithSeasonedLoansMember2025-12-310001068851us-gaap:CommercialAndIndustrialSectorMemberus-gaap:FinancialAssetPastDueMember2025-12-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2026-01-012026-03-310001068851us-gaap:CommercialAndIndustrialSectorMember2025-12-310001068851us-gaap:RealEstateSectorMemberpb:FarmlandMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:FarmlandMember2025-12-310001068851us-gaap:CommercialAndIndustrialSectorMemberus-gaap:FinancialAssetPastDueMember2026-03-310001068851us-gaap:AdditionalPaidInCapitalMember2025-03-310001068851pb:SubstandardAndNonImpairedMember2026-03-310001068851pb:FinancialAssetAcquiredWithSeasonedLoansMember2025-01-012025-03-310001068851us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2026-03-310001068851pb:SouthwestBancsharesIncMemberus-gaap:CommonStockMember2026-01-012026-03-310001068851pb:AmericanBankHoldingCorporationMember2026-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMember2025-01-012025-03-310001068851us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001068851us-gaap:InternalInvestmentGradeMemberus-gaap:CommercialAndIndustrialSectorMember2026-03-310001068851pb:StockIncentive2020PlanMemberpb:UnvestedRestrictedStockMember2026-01-012026-03-310001068851us-gaap:InterestRateBelowMarketReductionMember2025-01-012025-03-310001068851us-gaap:InterestRateSwapMember2025-12-310001068851pb:ConsumerAndOtherMemberpb:FinancingReceivables30To89DaysPastDueMember2025-12-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMemberpb:SubstandardAndImpairedMember2026-03-310001068851pb:FinancingReceivableNonAccrualStatusMemberus-gaap:NonperformingFinancingReceivableMember2026-03-310001068851us-gaap:InternalInvestmentGradeMemberpb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMember2026-03-310001068851pb:WarehousePurchaseProgramLoansMember2025-12-3100010688512025-01-012025-03-310001068851us-gaap:CollateralizedSecuritiesMember2025-12-310001068851us-gaap:SpecialMentionMember2026-03-310001068851us-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2025-01-012025-03-310001068851us-gaap:NonperformingFinancingReceivableMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberus-gaap:RealEstateSectorMember2025-03-310001068851us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310001068851pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851us-gaap:PrimeMemberus-gaap:RealEstateSectorMemberpb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember2026-03-310001068851pb:CommercialRealEstateIncludesMultifamilyResidentialMemberus-gaap:RealEstateSectorMemberus-gaap:FinancialAssetPastDueMember2026-03-310001068851us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2024-12-310001068851us-gaap:InternalInvestmentGradeMemberus-gaap:RealEstateSectorMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851pb:FamilyResidential14IncludesHomeEquityMemberpb:Grade4Memberus-gaap:RealEstateSectorMember2026-03-310001068851us-gaap:AgriculturalSectorMember2025-12-310001068851us-gaap:RealEstateSectorMember2025-01-012025-03-310001068851us-gaap:CommitmentsToExtendCreditMemberus-gaap:GuaranteeObligationsMember2026-03-310001068851srt:MinimumMember2026-03-310001068851us-gaap:CommercialAndIndustrialSectorMemberpb:SubstandardAndImpairedMember2026-03-310001068851us-gaap:RealEstateSectorMemberus-gaap:FinancialAssetPastDueMemberpb:ConstructionLandDevelopmentAndOtherLandLoansMember2026-03-310001068851us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2025-12-31pb:Securitypb:Segmentxbrli:purepb:SubleaseArrangementpb:LoanProductionOfficesxbrli:sharesiso4217:USDxbrli:sharespb:Planpb:BankingOfficesiso4217:USD

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED March 31, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO

COMMISSION FILE NUMBER: 001-35388

PROSPERITY BANCSHARES, INC.®

(Exact name of registrant as specified in its charter)

     Texas

     74-2331986

     (State or other jurisdiction
of incorporation or organization)

     (I.R.S. Employer
Identification No.)


Prosperity Bank Plaza
4295 San Felipe, Houston, Texas	77027
(Address of principal executive offices)	(Zip Code)

(281) 269-7199

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $1.00 per share	PB	New York Stock Exchange, Inc.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:


Large Accelerated Filer	☒	Accelerated Filer	☐

Non-accelerated Filer	☐	Smaller Reporting Company	☐

		Emerging Growth Company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 4, 2026, there were 100,854,689 outstanding shares of the registrant’s Common Stock, par value $1.00 per share.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

INDEX TO FORM 10-Q


PART I—FINANCIAL INFORMATION

Item 1.	Financial Statements	3
	Consolidated Balance Sheets as of March 31, 2026 (unaudited) and December 31, 2025	3
	Consolidated Statements of Income for the Three Months Ended March 31, 2026 and 2025 (unaudited)	4
	Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2026 and 2025 (unaudited)	5
	Consolidated Statements of Changes in Shareholders’ Equity for the Three Months Ended March 31, 2026 and 2025 (unaudited)	6
	Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (unaudited)	7
	Notes to Consolidated Financial Statements (unaudited)	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	33
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	56
Item 4.	Controls and Procedures	56

PART II—OTHER INFORMATION

Item 1.	Legal Proceedings	57
Item 1A.	Risk Factors	57
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	57
Item 3.	Defaults Upon Senior Securities	57
Item 4.	Mine Safety Disclosures	57
Item 5.	Other Information	57
Item 6.	Exhibits	58
Signatures		59

PART I—FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS


	March 31,			December 31,
	2026			2025
	(unaudited)
	(Dollars in thousands, except par value)
ASSETS
Cash and due from banks	$	1,547,967		$	1,747,511
Federal funds sold		209			217
Total cash and cash equivalents		1,548,176			1,747,728
Available for sale securities, at fair value		356,134			338,197
Held to maturity securities, at cost (fair value of $10,687,015 and $9,433,365, respectively)		11,595,457			10,275,228
Total securities		11,951,591			10,613,425
Loans held for sale		21,925			14,155
Loans held for investment		23,832,909			20,486,415
Loans held for investment - Warehouse Purchase Program		1,433,152			1,304,798
Total loans		25,287,986			21,805,368
Less: allowance for credit losses on loans		(383,840	)		(333,742	)
Loans, net		24,904,146			21,471,626
Accrued interest receivable		120,565			99,297
Goodwill		3,822,283			3,503,127
Core deposit intangibles, net		111,243			51,605
Bank premises and equipment, net		429,775			383,449
Other real estate owned		13,257			13,296
Bank owned life insurance (BOLI)		446,662			392,756
Federal Home Loan Bank of Dallas stock		107,477			86,950
Other assets		164,008			100,166
TOTAL ASSETS	$	43,619,183		$	38,463,425
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Deposits:
Noninterest-bearing	$	10,580,920		$	9,467,911
Interest-bearing		22,051,836			19,014,573
Total deposits		32,632,756			28,482,484
Other borrowings		2,200,000			1,950,000
Securities sold under repurchase agreements		176,099			201,216
Subordinated notes and junior subordinated debentures		76,186			—
Accrued interest payable		30,165			30,913
Allowance for credit losses on off-balance sheet credit exposures		37,646			37,646
Other liabilities		258,480			145,026
Total liabilities		35,411,332			30,847,285
COMMITMENTS AND CONTINGENCIES		—			—
SHAREHOLDERS’ EQUITY:
Preferred stock, $1 par value; 20,000,000 shares authorized; none issued or outstanding		—			—
Common stock, $1 par value; 200,000,000 shares authorized; 100,835,022 issued and outstanding at March 31, 2026; 93,058,171 shares issued and outstanding at December 31, 2025		100,835			93,058
Capital surplus		4,181,710			3,653,751
Retained earnings		3,925,271			3,869,627
Accumulated other comprehensive income (loss) —net unrealized loss on available for sale securities, net of tax (expense) benefit of $9 and $(79), respectively		35			(296	)
Total shareholders’ equity		8,207,851			7,616,140
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	43,619,183		$	38,463,425

See notes to consolidated financial statements.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)


	Three Months Ended
	March 31,
	2026		2025
	(Dollars in thousands, except per share data)
INTEREST INCOME:
Loans, including fees	$	361,756	$	319,023
Securities		70,531		57,886
Federal funds sold and other earning assets		9,488		15,896
Total interest income		441,775		392,805
INTEREST EXPENSE:
Deposits		104,237		95,597
Other borrowings		14,783		30,492
Securities sold under repurchase agreements		902		1,334
Subordinated notes and junior subordinated debentures		703		—
Total interest expense		120,625		127,423
NET INTEREST INCOME		321,150		265,382
PROVISION FOR CREDIT LOSSES		—		—
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		321,150		265,382
NONINTEREST INCOME:
Nonsufficient funds (NSF) fees		10,867		9,147
Credit card, debit card and ATM card income		9,483		8,739
Service charges on deposit accounts		8,680		7,408
Trust income		4,922		3,601
Mortgage income		1,280		1,009
Brokerage income		1,568		1,262
Net gain (loss) on sale or write-down of assets		318		(235	)
Other		9,356		10,370
Total noninterest income		46,474		41,301
NONINTEREST EXPENSE:
Salaries and employee benefits		109,211		89,476
Net occupancy and equipment		10,654		9,146
Credit and debit card, data processing and software amortization		18,114		11,422
Regulatory assessments and FDIC insurance		6,041		5,789
Core deposit intangibles amortization		5,259		3,641
Depreciation		5,548		4,774
Communications		3,834		3,473
Net other real estate expense		300		110
Merger related expenses		42,516		—
Other		15,810		12,470
Total noninterest expense		217,287		140,301
INCOME BEFORE INCOME TAXES		150,337		166,382
PROVISION FOR INCOME TAXES		34,070		36,157
NET INCOME	$	116,267	$	130,225
EARNINGS PER SHARE:
Basic	$	1.16	$	1.37
Diluted	$	1.16	$	1.37

See notes to consolidated financial statements.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)


	Three Months Ended
	March 31,
	2026			2025
	(Dollars in thousands)
Net income	$	116,267		$	130,225
Other comprehensive income, before tax:
Securities available for sale:
Change in unrealized gain during the period		419			682
Total other comprehensive income		419			682
Deferred tax expense related to other comprehensive income		(88	)		(143	)
Other comprehensive income, net of tax		331			539
Comprehensive income	$	116,598		$	130,764

See notes to consolidated financial statements.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(UNAUDITED)


													Accumulated
													Other			Total
	Common Stock						Capital			Retained			Comprehensive			Shareholders’
	Shares			Amount			Surplus			Earnings			Income (Loss)			Equity
	(In thousands, except share and per share data)
BALANCE AT DECEMBER 31, 2024		95,275,279		$	95,276		$	3,796,622		$	3,548,221		$	(1,624	)	$	7,438,495
Net income											130,225						130,225
Other comprehensive income														539			539
Common stock issued (forfeited) in connection with the granting of restricted stock awards, net		(17,062	)		(17	)		17									—
Stock based compensation expense								3,053									3,053
Cash dividends declared, $0.58 per share											(55,251	)					(55,251	)
BALANCE AT MARCH 31, 2025		95,258,217		$	95,259		$	3,799,692		$	3,623,195		$	(1,085	)	$	7,517,061

BALANCE AT DECEMBER 31, 2025		93,058,171		$	93,058		$	3,653,751		$	3,869,627		$	(296	)	$	7,616,140
Net income											116,267						116,267
Other comprehensive income														331			331
Common stock issued (forfeited) in connection with the granting of restricted stock awards, net		79,133			79			(79	)								—
Common stock issued in connection with the acquisition of American Bank Holding Corporation		4,439,938			4,440			302,404									306,844
Common stock issued in connection with the acquisition of Southwest Bancshares, Inc.		4,094,974			4,095			278,499									282,594
Common stock repurchase		(837,194	)		(837	)		(56,247	)								(57,084	)
Stock based compensation expense								3,382									3,382
Cash dividends declared, $0.60 per share											(60,623	)					(60,623	)
BALANCE AT MARCH 31, 2026		100,835,022		$	100,835		$	4,181,710		$	3,925,271		$	35		$	8,207,851

See notes to consolidated financial statements.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)


	Three Months Ended
	March 31,
	2026			2025
	(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	116,267		$	130,225
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and core deposit intangibles amortization		10,807			8,415
Provision for credit losses		—			—
Net amortization of premium on investments		3,829			5,027
Net gain on sale of other real estate and repossessed assets		(41	)		(30	)
Net (gain) loss on sale or write down of premises and equipment		(318	)		235
Net accretion of discount on loans		(3,748	)		(3,292	)
Net amortization of premium on deposits		(699	)		(9	)
Net gain on sale of loans		(1,280	)		(1,009	)
Proceeds from sale of loans held for sale		54,092			35,411
Originations of loans held for sale		(60,582	)		(33,476	)
Stock based compensation expense		3,382			3,053
(Increase) decrease in accrued interest receivable and other assets		(30,965	)		56,200
Increase (decrease) in accrued interest payable and other liabilities		94,367			(22,577	)
Net cash provided by operating activities		185,111			178,173

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from maturities and principal paydowns of held to maturity securities		408,680			367,627
Purchase of held to maturity securities		(1,482,841	)		(72,749	)
Proceeds from maturities, sales and principal paydowns of available for sale securities		5,555,739			3,502,073
Purchase of available for sale securities		(5,499,463	)		(3,499,606	)
Originations of Warehouse Purchase Program loans		(3,907,060	)		(3,206,867	)
Proceeds from pay-offs of Warehouse Purchase Program loans		3,778,706			3,229,877
Net decrease in loans held for investment		397,107			143,165
Purchase of bank premises and equipment		(7,008	)		(7,074	)
Proceeds from sale of bank premises, equipment and other real estate		5,542			2,816
Proceeds from insurance claims		3,076			564
Net cash provided by the acquisition of American Bank Holding Corporation		233,906			—
Net cash provided by the acquisition of Southwest Bancshares, Inc.		244,182			—
Net cash (used in) provided by investing activities		(269,434	)		459,826

CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in noninterest-bearing deposits		261,719			(122,523	)
Net decrease in interest-bearing deposits		(484,124	)		(232,007	)
Net proceeds (repayments) from other short-term borrowings		250,000			(500,000	)
Net decrease in securities sold under repurchase agreements		(25,117	)		(5,827	)
Repurchase of common stock		(57,084	)		—
Payments of cash dividends		(60,623	)		(55,251	)
Net cash used in financing activities		(115,229	)		(915,608	)

NET DECREASE IN CASH AND CASH EQUIVALENTS		(199,552	)		(277,609	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		1,747,728			1,972,467
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	1,548,176		$	1,694,858

NONCASH ACTIVITIES:
Acquisition of real estate through foreclosure of collateral	$	2,572		$	5,062
SUPPLEMENTAL INFORMATION:
Cash paid for:
U.S. federal income taxes, net of refunds received	$	—		$	78,000
State income taxes, net of refunds received		336			386
Interest paid		124,822			135,203

See notes to consolidated financial statements

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(UNAUDITED)

1. BASIS OF PRESENTATION

The consolidated financial statements include the accounts of Prosperity Bancshares, Inc.® (“Bancshares”) and its wholly owned subsidiary, Prosperity Bank® (the “Bank,” and together with Bancshares, the “Company”). All intercompany transactions and balances have been eliminated.

The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for financial information and with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements reflect all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows of the Company on a consolidated basis; and all such adjustments are of a normal recurring nature. These financial statements and the notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Operating results for the three-month period ended March 31, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or any other period.

The Company’s banking operations are considered by management to be aggregated in one reportable operating segment in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280. The Chief Executive Officer is designated as the Company’s chief operating decision maker (“CODM”), who evaluates banking operations and decides how to allocate resources based on consolidated net income that is also reported on the Company’s consolidated statement of income. Consolidated net income is used to monitor the Company’s revenue streams, significant expenses and to compare budget to actual results in assessing performance of the Company’s banking operations. Interest expense, provision for credit losses and salaries and employee benefits are considered significant segment expenses and are listed on the accompanying consolidated statements of income. As the Company’s operations consist of one reportable operating segment, the segment assets are reflected on the accompanying consolidated balance sheets as “total assets.”

2. INCOME PER COMMON SHARE

The following table illustrates the computation of basic and diluted earnings per share:


	Three Months Ended March 31,
	2026				2025
	Amount		Per Share Amount		Amount		Per Share Amount
	(Amounts in thousands, except per share data)
Net income	$	116,267			$	130,225
Basic:
Weighted average shares outstanding		99,825	$	1.16		95,266	$	1.37
Diluted:
Weighted average shares outstanding		99,825	$	1.16		95,266	$	1.37

There were no stock options outstanding at March 31, 2026, or exercisable during the three months ended March 31, 2026, or 2025 that would have had an anti-dilutive effect on the above computation.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(UNAUDITED)

3. NEW ACCOUNTING STANDARDS

Accounting Standards Updates (“ASU”)

ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. ASU 2025‑11 clarifies interim disclosure requirements, including providing a comprehensive list of interim disclosure requirements under U.S. GAAP and a disclosure principle that requires entities to disclose events since the last annual reporting period that have a material impact on the entity. The standard is effective for interim periods within annual reporting periods beginning after December 15, 2027. The Company does not expect the adoption of ASU 2025-11 to have a significant impact on its financial statements.

ASU 2025-08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans. ASU 2025-08 updated the accounting for purchased loans under ASC 326. Under ASU 2025-08, loans acquired without credit deterioration (“Non-PCD” loans) and deemed “seasoned” will now be considered purchased seasoned loans (“PSLs”) and accounted for using the gross-up approach at acquisition, which was formerly applicable only to purchased credit deteriorated (“PCD”) assets. PSLs include all loans acquired in a business combination that do not have “more-than-insignificant” deterioration of credit quality since origination, as well as loans purchased at least 90 days after origination where the purchaser was not involved in the origination of the loans. Under ASU 2025-08, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized costs basis, thereby eliminating the immediate recognition of day-one credit loss expense previously required for Non-PCD loans. The Company early adopted ASU 2025-08 as of January 1, 2026, on a prospective basis. For further discussion, see Note 5 to the consolidated financial statements.

ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. ASU 2025-06 modernizes the accounting for internal-use software costs. Under this ASU, software development costs are capitalized when (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim reporting periods, with early adoption permitted. The Company does not expect the adoption of ASU 2025-06 to have a significant impact on its financial statements.

ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires public companies to disclose, in the notes to the financial statements, specific information about certain costs and expenses at each interim and annual reporting period. This includes disclosing amounts related to employee compensation, depreciation, and intangible asset amortization. In addition, public companies will need to provide a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 is effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Implementation of ASU 2024-03 may be applied prospectively or retrospectively. The Company does not expect the adoption of ASU 2024-03 to have a significant impact on its financial statements.

ASU 2023-09, Income Taxes (Topic 740): Improvements to Income. ASU 2023-09 focuses on the rate reconciliation and income taxes paid. ASU 2023-09 requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign, and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The Company adopted ASU 2023-09 as of December 31, 2025 on a retrospective basis, and it did not have a significant impact on the Company’s financial statements.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(UNAUDITED)

4. SECURITIES

The amortized cost and fair value of investment securities were as follows:


	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Available for Sale
Corporate debt securities	$	7,935	$	2,678	$	—		$	10,613
Collateralized mortgage obligations		212,599		90		(2,244	)		210,445
Mortgage-backed securities		135,556		199		(679	)		135,076
Total	$	356,090	$	2,967	$	(2,923	)	$	356,134
Held to Maturity
U.S. Government agencies	$	4,073	$	—	$	(5	)	$	4,068
States and political subdivisions		121,504		212		(1,977	)		119,739
Corporate debt securities		12,000		—		(900	)		11,100
Collateralized mortgage obligations		394,300		755		(15,505	)		379,550
Mortgage-backed securities		11,063,580		4,155		(895,177	)		10,172,558
Total	$	11,595,457	$	5,122	$	(913,564	)	$	10,687,015


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Available for Sale
Corporate debt securities	$	7,935	$	2,518	$	—		$	10,453
Collateralized mortgage obligations		209,689		5		(2,250	)		207,444
Mortgage-backed securities		120,948		85		(733	)		120,300
Total	$	338,572	$	2,608	$	(2,983	)	$	338,197
Held to Maturity
U.S. Government agencies	$	6,032	$	78	$	(70	)	$	6,040
States and political subdivisions		69,221		249		(1,347	)		68,123
Corporate debt securities		12,000		—		(1,020	)		10,980
Collateralized mortgage obligations		223,675		1,010		(12,177	)		212,508
Mortgage-backed securities		9,964,300		9,070		(837,656	)		9,135,714
Total	$	10,275,228	$	10,407	$	(852,270	)	$	9,433,365

The investment securities portfolio is measured for expected credit losses by segregating the portfolio into two general classifications and applying the appropriate expected credit losses methodology. Investment securities classified as available for sale or held to maturity are evaluated for expected credit losses under FASB ASC Topic 326, “Financial Instruments – Credit Losses” (“CECL”).

Available for sale securities. For available for sale securities in an unrealized loss position, the amount of the expected credit losses recognized in earnings depends on whether an entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss. If an entity intends to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the expected credit losses will be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current-period loss, the expected credit losses will be separated into the amount representing the credit-related portion of the impairment loss (“credit loss”) and the noncredit portion of the impairment loss (“noncredit portion”). The amount of the total expected credit losses related to the credit loss is determined based on the difference between the present value of cash flows expected to be collected and the amortized cost basis and such difference is recognized in earnings. The amount of the total expected credit losses related to the noncredit portion is recognized in other

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(UNAUDITED)

comprehensive income, net of applicable taxes. The previous amortized cost basis less the expected credit losses recognized in earnings will become the new amortized cost basis of the investment.

As of March 31, 2026, management does not have the intent to sell any of the securities classified as available for sale before a recovery of cost. In addition, management believes it is more likely than not that the Company will not be required to sell any of its investment securities before a recovery of cost. The unrealized losses are largely due to changes in market interest rates and spread relationships since the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their maturity date or repricing date, or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of March 31, 2026, management believes that there is no potential for credit losses on available for sale securities.

Held to maturity securities. The Company’s held to maturity investments include mortgage-related bonds issued by either the Government National Mortgage Corporation (“Ginnie Mae”), Federal National Mortgage Association (“Fannie Mae”) or Federal Home Loan Mortgage Corporation (“Freddie Mac”). Ginnie Mae-issued securities are explicitly guaranteed by the U.S. government, while Fannie Mae- and Freddie Mac-issued securities are fully guaranteed by those respective United States government-sponsored agencies and conditionally guaranteed by the full faith and credit of the United States. The Company’s held to maturity securities also include taxable and tax-exempt municipal securities issued primarily by school districts, utility districts and municipalities located in Texas. The Company’s investment in municipal securities is exposed to credit risk. The securities are highly rated by major rating agencies and regularly reviewed by management. A significant portion are guaranteed or insured by either the Texas Permanent School Fund, Assured Guaranty or Build America Mutual. As of March 31, 2026, the Company’s municipal securities represent 1.0% of the securities portfolio. Management has the ability and intent to hold the securities classified as held to maturity until they mature, at which time the Company will receive full value for the securities. Accordingly, as of March 31, 2026, management believes that there is no potential for material credit losses on held to maturity securities.

Securities with unrealized losses, segregated by length of time, that have been in a continuous loss position were as follows:


	March 31, 2026
	Less than 12 Months					12 Months or More					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
	(Dollars in thousands)
Available for Sale
Collateralized mortgage obligations	$	10,917	$	(56	)	$	165,071	$	(2,188	)	$	175,988	$	(2,244	)
Mortgage-backed securities		70,646		(377	)		50,895		(302	)		121,541		(679	)
Total	$	81,563	$	(433	)	$	215,966	$	(2,490	)	$	297,529	$	(2,923	)
Held to Maturity
U.S. Government agencies	$	4,068	$	(5	)	$	—	$	—		$	4,068	$	(5	)
States and political subdivisions		43,606		(557	)		22,946		(1,420	)		66,552		(1,977	)
Corporate debt securities		—		—			11,100		(900	)		11,100		(900	)
Collateralized mortgage obligations		162,914		(2,233	)		156,204		(13,272	)		319,118		(15,505	)
Mortgage-backed securities		2,139,258		(18,674	)		7,421,363		(876,503	)		9,560,621		(895,177	)
Total	$	2,349,846	$	(21,469	)	$	7,611,613	$	(892,095	)	$	9,961,459	$	(913,564	)

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(UNAUDITED)


	December 31, 2025
	Less than 12 Months					12 Months or More					Total
	Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses			Estimated Fair Value		Unrealized Losses
	(Dollars in thousands)
Available for Sale
Collateralized mortgage obligations		29,345		(71	)		159,382		(2,179	)		188,727		(2,250	)
Mortgage-backed securities		32,483		(91	)		81,968		(642	)		114,451		(733	)
Total	$	61,828	$	(162	)	$	241,350	$	(2,821	)	$	303,178	$	(2,983	)
Held to Maturity
U.S. Government agencies	$	4,733	$	(70	)	$	—	$	—		$	4,733	$	(70	)
States and political subdivisions		1,108		(1	)		23,482		(1,346	)		24,590		(1,347	)
Corporate debt securities		—		—			10,980		(1,020	)		10,980		(1,020	)
Collateralized mortgage obligations		548		(8	)		165,061		(12,169	)		165,609		(12,177	)
Mortgage-backed securities		390,495		(775	)		7,813,697		(836,881	)		8,204,192		(837,656	)
Total	$	396,884	$	(854	)	$	8,013,220	$	(851,416	)	$	8,410,104	$	(852,270	)

At March 31, 2026, and December 31, 2025, there were 679 securities and 712 securities, respectively, in an unrealized loss position for 12 months or more.

The table below summarizes the amortized cost and fair value of investment securities at March 31, 2026, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations at any time with or without call or prepayment penalties.


	Held to Maturity				Available for Sale
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(Dollars in thousands)
Due in one year or less	$	22,631	$	22,648	$	—	$	—
Due after one year through five years		44,668		44,275		—		—
Due after five years through ten years		67,524		65,240		7,935		10,613
Due after ten years		2,754		2,744		—		—
Subtotal		137,577		134,907		7,935		10,613
Mortgage-backed securities and collateralized mortgage obligations		11,457,880		10,552,108		348,155		345,521
Total	$	11,595,457	$	10,687,015	$	356,090	$	356,134

At March 31, 2026, and December 31, 2025, the Company did not own securities of any one issuer (other than the U.S. government and its agencies) for which aggregate adjusted cost exceeded 10% of the consolidated shareholders’ equity at such respective dates.

Securities with an amortized cost of $9.59 billion and $9.24 billion and a fair value of $8.81 billion and $8.43 billion at March 31, 2026, and December 31, 2025, respectively, were pledged to collateralize public deposits and for other purposes required or permitted by law.

The Company recorded no gain or loss on the sale of investment securities for the three months ended March 31, 2026 and 2025. As of March 31, 2026, the Company did not own any non-agency collateralized mortgage obligations.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(UNAUDITED)

5. LOANS AND ALLOWANCE FOR CREDIT LOSSES

The loan portfolio consists of various types of loans and is categorized by major type as follows:


	March 31, 2026		December 31, 2025
	(Dollars in thousands)
Residential mortgage loans held for sale	$	21,925	$	14,155

Commercial and industrial		3,281,253		2,303,936
Real estate:
Construction, land development and other land loans		3,253,389		2,741,455
1-4 family residential (includes home equity)		8,700,834		8,260,482
Commercial real estate (includes multi-family residential)		7,126,213		5,776,397
Farmland		703,930		662,031
Agriculture		360,610		365,873
Consumer and other		406,680		376,241
Total loans held for investment, excluding Warehouse Purchase Program		23,832,909		20,486,415
Warehouse Purchase Program		1,433,152		1,304,798
Total loans, including Warehouse Purchase Program	$	25,287,986	$	21,805,368

Concentrations of Credit. Most of the Company’s lending activity occurs within the states of Texas and Oklahoma. Commercial real estate loans, 1-4 family residential loans and construction, land development and other land loans made up 80.0% and 81.8% of the Company’s total loan portfolio, excluding Warehouse Purchase Program loans, at March 31, 2026, and December 31, 2025, respectively. As of March 31, 2026, and December 31, 2025, excluding Warehouse Purchase Program loans, there were no concentrations of loans related to any single industry in excess of 10% of total loans.

Related Party Loans. As of March 31, 2026, and December 31, 2025, loans outstanding to directors, officers and their affiliates totaled $674 thousand and $272 thousand, respectively. All transactions between the Company and such related parties are conducted in the ordinary course of business and made on the same terms and conditions as similar transactions with unaffiliated persons.

An analysis of activity with respect to these related party loans is as follows:


	As of and for the three months ended March 31, 2026			As of and for the year ended December 31, 2025
	(Dollars in thousands)
Beginning balance on January 1	$	272		$	266
New loans		405			182
Repayments		(3	)		(176	)
Ending balance	$	674		$	272

Nonperforming Assets and Nonaccrual and Past Due Loans. The Company has several procedures in place to assist it in maintaining the overall quality of its loan portfolio. The Company has established underwriting guidelines to be followed by its officers, including requiring appraisals on loans collateralized by real estate. The Company also monitors its delinquency levels for any negative or adverse trends. Nevertheless, the Company’s loan portfolio could become subject to increasing pressures from deteriorating borrower credit due to general economic conditions.

The Company generally places a loan on nonaccrual status and ceases accruing interest when the payment of principal or interest is delinquent for 90 days, or earlier in some cases; unless the loan is in the process of collection and the underlying collateral fully supports the carrying value of the loan. A loan may be returned to accrual status when all the principal and interest amounts contractually due are brought current and future principal and interest amounts contractually due are reasonably assured, which is typically evidenced by a sustained period (at least six months) of repayment performance by the borrower.

With respect to potential problem loans, an evaluation of the borrower’s overall financial condition is made, together with an appraisal for loans collateralized by real estate, to determine the need, if any, for possible write-downs or appropriate additions to the allowance for credit losses.

PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(UNAUDITED)

An aging analysis of past due loans, segregated by category of loan, is presented below:


	March 31, 2026
	Loans Past Due and Still Accruing
	30-89 Days		90 or More Days		Total Past Due Loans		Nonaccrual Loans		Current Loans		Total Loans
	(Dollars in thousands)
Construction, land development and other land loans	$	18,843	$	237	$	19,080	$	484	$	3,233,825	$	3,253,389
Warehouse Purchase Program loans		—		—		—		—		1,433,152		1,433,152
Agriculture and agriculture real estate (includes farmland)		4,269		—		4,269		14,925		1,045,346		1,064,540
1-4 family (includes home equity) (1)		45,205		76		45,281		55,501		8,621,977		8,722,759
Commercial real estate (includes multi-family residential)		23,466		1,922		25,388		12,960		7,087,865		7,126,213
Commercial and industrial		28,046		6		28,052		21,590		3,231,611		3,281,253
Consumer and other		943		—		943		1,013		404,724		406,680
Total	$	120,772	$	2,241	$	123,013	$	106,473	$	25,058,500	$	25,287,986


	December 31, 2025
	Loans Past Due and Still Accruing
	30-89 Days		90 or More Days		Total Past Due Loans		Nonaccrual Loans		Current Loans		Total Loans
	(Dollars in thousands)
Construction, land development and other land loans	$	5,233	$	297	$	5,530	$	177	$	2,735,748	$	2,741,455
Warehouse Purchase Program loans		—		—		—		—		1,304,798		1,304,798
Agriculture and agriculture real estate (includes farmland)		4,834		—		4,834		15,378		1,007,692		1,027,904
1-4 family (includes home equity) (1)

PROSPERITY BANCSHARES INC 10-Q