Prosperity Bancshares, American Bank Holding to merge in $321.5M deal

Prosperity Bancshares (PB) and American Bank Holding, headquartered in Corpus Christi, Texas, jointly announced the signing of a definitive merger agreement whereby Prosperity will acquire American and American Bank. Under the terms and subject to the conditions of the definitive agreement, Prosperity will issue 4,439,981 shares of Prosperity common stock for all outstanding shares of American common stock, subject to certain potential adjustments. Based on Prosperity’s closing price of $72.40 on July 16, the total consideration was valued at approximately $321.5M. The merger has been unanimously approved by the Boards of Directors of both companies and is expected to close during the fourth quarter of 2025 or first quarter of 2026. The transaction is subject to certain conditions, including approval by American’s shareholders and customary regulatory approvals.