India, July 18 -- Prosperity Bancshares, Inc. (PB) and American Bank Holding Corporation, on Friday, jointly announced that they have inked a merger deal whereby Prosperity will acquire American Bank Holding for around $321.5 million, based on Prosperity's closing price of $72.40 on July 16.
Under the terms, Prosperity will issue its 4.439 million shares for all shares of American.
David Zalman, CEO of Prosperity, said: "This combination will strengthen our presence and operations in South Texas and surrounding areas and enhances our presence in Central Texas, including in San Antonio, a highly desirable, high growth area."
The merger is expected to be closed in the fourth quarter of 2025 or first-quarter of 2026.
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