HOUSTON, Dec. 14, 2011 /PRNewswire/ -- Prosperity
Bancshares, Inc.® (NASDAQ: PRSP), the parent company of Prosperity
Bank®, today announced the pending transfer of the listing of its
common stock from the NASDAQ Global Select Market (NASDAQ) to the
New York Stock Exchange (NYSE). The Company expects to begin
trading, under the new ticker symbol "PB" on the NYSE on or about
December 28, 2011. Until the
transfer is complete, the Company's common stock will continue to
trade under the ticker symbol "PRSP" on NASDAQ.
"We are excited and pleased about our future with the NYSE,"
said David Zalman, Chairman and
Chief Executive Officer. "The NYSE is home to many of the world's
leading financial institutions and we believe it is the best
exchange for us as we continue to focus on creating long-term value
for our shareholders."
"Congratulations to Prosperity Bancshares, Inc. on its decision
to list its shares on the New York Stock Exchange and for recently
being named as the nation's best bank by Forbes," said Duncan L. Niederauer, Chief Executive Officer,
NYSE Euronext. "We look forward to welcoming Prosperity Bancshares
to the NYSE community and to building a long-term partnership with
the company and its shareholders."
Prosperity Bancshares, Inc.®
Prosperity Bancshares, Inc.®, recently named "America's Best
Bank" by Forbes, is a $9.6 billion
Houston, Texas based regional
financial holding company, formed in 1983. Operating under a
community banking philosophy and seeking to develop broad customer
relationships based on service and convenience, Prosperity offers a
variety of traditional loan and deposit products to its customers,
which consist primarily of small and medium sized businesses and
consumers. In addition to established banking products, Prosperity
offers a complete line of services including: Internet Banking
services at http://www.prosperitybanktx.com, Retail Brokerage
Services, MasterMoney Debit Cards, and 24 hour voice response
banking. Prosperity currently operates one hundred seventy five
(175) full service banking locations; sixty (60) in the
Houston area; twenty (20) in the
South Texas area including
Corpus Christi and Victoria; thirty-one (31) in the Dallas/Fort Worth area; twenty-one (21) in the
East Texas area; thirty-three (33)
in the Central Texas area
including Austin and San Antonio; and ten (10) in the Bryan/College Station area.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: This release contains, and the
remarks by Prosperity's management on the conference call may
contain, forward-looking statements within the meaning of the
securities laws that are based on current expectations,
assumptions, estimates and projections about Prosperity, and its
subsidiaries. These forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of Prosperity's control,
that may cause actual results to differ materially from those
expressed or implied by the forward-looking statements. These
risks and uncertainties include but are not limited to whether
Prosperity can: successfully identify acquisition targets and
integrate the businesses of acquired companies and banks;
continue to sustain its current internal growth rate or total
growth rate; provide products and services that appeal to its
customers; continue to have access to debt and equity capital
markets; and achieve its sales objectives. Other risks
include, but are not limited to: the possibility that credit
quality could deteriorate; actions of competitors; changes in laws
and regulations (including changes in governmental interpretations
of regulations and changes in accounting standards); a
deterioration or downgrade in the credit quality and credit agency
ratings of the securities in Prosperity's securities portfolio;
customer and consumer demand, including customer and consumer
response to marketing; effectiveness of spending, investments or
programs; fluctuations in the cost and availability of supply chain
resources; economic conditions, including currency rate
fluctuations and interest rate fluctuations; weather; and the stock
price volatility associated with "small-cap" companies. These
and various other factors are discussed in Prosperity's Annual
Report on Form 10-K for the year ended December 31, 2010 and other reports and
statements Prosperity has filed with the SEC. Copies of the SEC
filings for Prosperity Bancshares, Inc.® may be downloaded from the
Internet at no charge from
www.prosperitybanktx.com.
SOURCE Prosperity Bancshares, Inc.
