TXUI Texas United Bancshares

* Prosperity Bancshares, Inc.(R) Annual Cash Dividend Increases 12.5% to $0.45 HOUSTON, Dec. 14 /PRNewswire-FirstCall/ -- Prosperity Bancshares, Inc.(R) (NASDAQ:PRSP) announced today that the Prosperity shareholders have approved its proposed acquisition of Texas United Bancshares, Inc. (NASDAQ:TXUI). Over 98.4% of all votes cast at the special meeting of shareholders were cast in favor of the transaction. The votes cast in favor of the transaction constitute approximately 73% of all outstanding shares. Texas United Bancshares, Inc. announced that the Texas United shareholders today approved its proposed merger with Prosperity Bancshares, Inc. Over 98.7% of all votes cast at the special meeting of shareholders were cast in favor of the transaction. The votes cast in favor of the transaction constitute approximately 81% of all outstanding shares. The closing of the transaction is tentatively scheduled for early February of 2007 contingent upon regulatory approval, which is expected to be received in January of 2007, and the satisfaction of customary closing conditions contained in the merger agreement. Prosperity Bancshares, Inc. Fourth Quarter Dividend Prosperity Bancshares, Inc. declared a quarterly cash dividend of $0.1125 per share to holders of Prosperity's common stock. The fourth quarter dividend is payable on January 2, 2007 to all shareholders of record as of December 15, 2006. Prosperity previously announced that the dividend rate would increase 12.5% to $0.1125 per share per quarter beginning with the fourth quarter 2006 dividend. Texas United Bancshares, Inc. Fourth Quarter Dividend Texas United Bancshares, Inc. declared a quarterly cash dividend of $0.08 per share to holders of Texas United's common stock. The fourth quarter dividend is payable on January 2, 2007 to all shareholders of record as of December 8, 2006 Year End Earnings Conference Call In conjunction with Prosperity Bancshares, Inc.(R) Fourth Quarter Earnings Announcement, scheduled before the market opens on Wednesday, January 24, 2007, you are invited to listen to its conference call that will be broadcast live over the Internet at 10:30 AM, Eastern Standard Time (9:30 AM, Central Standard Time) on Wednesday, January 24, 2007. Participants will include David Zalman, Chairman and Chief Executive Officer; Dan Rollins, President and Chief Operating Officer; Tim Timanus, Vice Chairman; and David Hollaway, CPA, Chief Financial Officer. What: Prosperity Bancshares, Inc.(R) Fourth Quarter Earnings Announcement When: Wednesday, January 24, 2007 9:30 AM (Central Standard Time) Where: http://www.prosperitybanktx.com/ on the Investor Relations page How: Live over the Internet -- Simply log on to the web at the address above or call 800-362-0595, the reference code is PBTX. Contact: Dan Rollins, President & COO at (281) 269-7199 or If you are unable to participate during the live webcast, the call will be archived on the Web site at http://www.prosperitybanktx.com/ on the Investor Relations page. To access the replay, click on the conference call section and follow the instructions. Minimum Requirements to listen to broadcast: At least a 28.8 Kbps connection to the Internet and the Windows Media Player software, downloadable free from http://www.microsoft.com/windows/windowsmedia/player/download/download.aspx . Prosperity Bancshares Inc.(R) Prosperity Bancshares(R), a $4.6 billion Houston, Texas based regional financial holding company, formed in 1983, was named to the Keefe Bruyette & Woods, Inc. 2006 Honor Roll for achieving exceptional earnings per share growth for the past 10 years. Other recent honors include being named to the Sandler O'Neill & Partners 2005 Bank and Thrift Small All Stars, listed in US Banker's August 2005 Top 100 Publicly Traded Mid-Tier Banks, ranked #2 out of 195 publicly traded companies in the 2005 Stephens, Inc. Bank and Thrift Performance Matrix and the Houston Chronicle's Houston 100 list. Operating under a community banking philosophy, Prosperity seeks 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 consumers and small and medium sized businesses. 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 eighty-nine (89) full service banking locations, thirty-eight (38) in the Houston CMSA; sixteen (16) in the Corpus Christi area; eleven (11) in the Dallas area; five (5) in the Austin area; two (2) in the East Texas area; and seventeen (17) in fifteen contiguous counties south and southwest of Houston generally along the NAFTA highway. Additional Information About the Merger and Where to Find It This communication is being made in respect of the proposed merger transaction involving Prosperity Bancshares, Inc. and Texas United Bancshares, Inc. In connection with the transaction, Prosperity filed a Registration Statement on Form S-4 with the Securities and Exchange Commission on November 7, 2006 and Prosperity and Texas United mailed copies of the related joint proxy statement/prospectus to all of their respective shareholders of record. This filing and other information filed by Prosperity with the SEC is available free at the SEC's web site at http://www.sec.gov/ . You can also obtain a free copy of this filing and other information from Prosperity's web site at http://www.prosperitybanktx.com/ and Texas United's web site at http://www.txui.com/ . "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release contains, and the remarks by our 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 Bancshares(R), 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 the risk that the businesses of Prosperity and Texas United will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; expected revenue synergies and cost savings from the merger may not be fully realized or realized within the expected time frame; revenues following the merger may be lower than expected; deposit attrition, operating costs, customer loss and business disruption following the merger, including, without limitation, difficulties in maintaining relationships with employees, may be greater than expected; the ability to obtain regulatory approvals of the merger on the proposed terms and schedule; the failure of Prosperity's or Texas United's shareholders to approve the merger agreement; continue to provide products and services that appeal to our customers; access to debt and equity capital markets we may be limited or not available; and our sales objectives may not be achieved. Other risks include 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); 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 our most recent Annual Report on Form 10-K and other reports and statements we have filed with the SEC. Copies of Prosperity Bancshares's (R) SEC filings may be downloaded from the Internet at no charge from http://www.prosperitybanktx.com/ . DATASOURCE: Prosperity Bancshares, Inc.; Texas United Bancshares, Inc. CONTACT: Dan Rollins, President & Chief Operating Officer of Prosperity Bancshares, Inc., +1-281-269-7199, or ; or Don Stricklin, President & Chief Executive Officer of Texas United Bancshares, Inc., +1-979-968-7214, or Web site: http://www.prosperitybanktx.com/ http://www.txui.com/

Copyright