Prosperity Bancshares (NYSE: PB) Q1 2026 earnings and major bank deals

Rhea-AI Filing Summary

Prosperity Bancshares, Inc. reported first quarter 2026 net income of $116.3 million, or $1.16 per diluted share, down from $130.2 million, or $1.37, a year earlier, largely due to $42.5 million of merger-related expenses. Excluding these charges, net income was $149.9 million and diluted EPS was $1.50.

Total loans rose to $25.29 billion and deposits to $32.63 billion, driven mainly by the completed acquisitions of American Bank Holding Corporation and Southwest Bancshares, Inc. The net interest margin improved to 3.51%, while nonperforming assets were 0.33% of average interest-earning assets and net charge-offs increased to $41.3 million. The company declared a quarterly dividend of $0.60 per share, repurchased about 837,000 shares for $57.1 million, and holds total assets of $43.62 billion. It also received regulatory approvals for the pending $2.002 billion cash-and-stock acquisition of Stellar Bancorp, Inc.

Positive

• Strong loan and deposit growth with margin expansion: Total loans reached $25.29 billion (up 15.1% year over year) and deposits $32.63 billion (up 16.4%), while tax-equivalent net interest margin improved to 3.51%, supported by recent acquisitions and asset repricing.
• Strategic M&A and pending $2.002 billion Stellar deal: The company closed the American and Southwest acquisitions, recognized new goodwill and core deposit intangibles, and obtained regulatory approvals for the approximately $2.002 billion cash-and-stock acquisition of Stellar Bancorp, Inc., expected to close on or about July 1, 2026.

Negative

• Notable increase in credit losses: Net charge-offs rose to $41.3 million for Q1 2026 from $2.7 million a year earlier, including a $33.8 million increase in commercial and industrial net charge-offs, signaling higher realized credit costs despite stable nonperforming asset ratios.
• Earnings pressure from merger-related costs: GAAP net income declined to $116.3 million from $130.2 million and the efficiency ratio deteriorated to 59.16%, as $42.5 million of merger-related expenses and higher operating costs weighed on reported profitability.

Insights

Banking sector equity analyst

Strong balance sheet growth and M&A, but higher credit costs and integration risk.

Prosperity Bancshares delivered Q1 2026 net income of $116.3M, or $1.16 per share, with adjusted earnings of $149.9M, or $1.50, after adding back $42.5M of merger-related expenses tied to the American and Southwest deals.

Total assets reached $43.619B, with loans up 15.1% year over year to $25.288B and deposits up 16.4% to $32.633B, mainly from the completed acquisitions. The tax-equivalent net interest margin improved to 3.51%, supported by asset repricing and acquired portfolios.

Asset quality remains generally sound, with nonperforming assets at 0.33% of average interest-earning assets, but net charge-offs increased sharply to $41.3M, including a $33.8M rise in commercial and industrial charge-offs. The pending $2.002B Stellar Bancorp transaction, expected to close on or about July 1, 2026, adds further scale but also integration and credit execution considerations that will be clarified in subsequent periods.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income: $116.3M Adjusted net income: $149.9M Diluted EPS: $1.16 +5 more

8 metrics

Net income $116.3M Quarter ended March 31, 2026

Adjusted net income $149.9M Q1 2026, excluding $42.5M merger expenses

Diluted EPS $1.16 Quarter ended March 31, 2026

Tax-equivalent net interest margin 3.51% Quarter ended March 31, 2026

Total assets $43.619B Balance at March 31, 2026

Total loans $25.288B Balance at March 31, 2026

Net charge-offs $41.3M Three months ended March 31, 2026

Stellar acquisition value $2.002B Based on PB share price of $72.90 on January 27, 2026

Key Terms

net interest margin, nonperforming assets, merger related expenses, tangible book value per share, +2 more

6 terms

net interest margin financial

"First quarter net interest margin increased 21 basis points to 3.51% compared to 3.30% for fourth quarter 2025"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

nonperforming assets financial

"Nonperforming assets remain low at 0.33% of first quarter average interest-earning assets"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

merger related expenses financial

"During the first quarter of 2026, Prosperity incurred merger related expenses of $42.5 million"

tangible book value per share financial

"Tangible book value per common share was $42.39 at March 31, 2026"

Tangible book value per share is the company's total physical and financial assets minus its liabilities and intangible items (like goodwill and brand value), divided by the number of outstanding shares. It gives investors a conservative, per‑share estimate of what would remain if the business sold only its hard assets and paid its debts—useful for judging whether a stock is priced above or below its underlying, tangible worth, like valuing a property by its bricks and cash rather than its reputation.

allowance for credit losses financial

"The allowance for credit losses on loans and off-balance sheet credit exposures was $421.5 million at March 31, 2026"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

efficiency ratio financial

"Prosperity’s efficiency ratio was 59.16% for the three months ended March 31, 2026"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

Earnings Snapshot

Net income: $116.3M

Q1 2026

Net income $116.3M down vs $130.2M in Q1 2025

Diluted EPS $1.16 down vs $1.37 in Q1 2025

Adjusted diluted EPS $1.50 excludes $42.5M merger-related expenses

Net interest income $321.2M +21.0% year over year

Total loans $25.29B +15.1% year over year

Total deposits $32.63B +16.4% year over year

Understanding 8-K Material Events →

0001068851false00010688512026-04-292026-04-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 29, 2026

PROSPERITY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Texas	001-35388	74-2331986
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

4295 San Felipe

Houston, Texas 77027

(Address of principal executive offices including zip code)

Registrant's telephone number, including area code: (281) 269-7199

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☒	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 29, 2026, Prosperity Bancshares, Inc. publicly disseminated a press release announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits. The following is furnished as an exhibit to this Current Report on Form 8-K:

Exhibit Number		Description of Exhibit
99.1		Press Release issued by Prosperity Bancshares, Inc. dated April 29, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		PROSPERITY BANCSHARES, INC. (Registrant)
Dated: April 29, 2026		By:	/s/ Charlotte M. Rasche
			Charlotte M. Rasche
			Executive Vice President and General Counsel

Exhibit 99.1

c

PRESS RELEASE	For more information contact:
Prosperity Bancshares, Inc.®	Cullen Zalman
Prosperity Bank Plaza	Executive Vice President – Banking and Corporate Activities
4295 San Felipe	281.269.7199
Houston, Texas 77027	cullen.zalman@prosperitybankusa.com

FOR IMMEDIATE RELEASE

PROSPERITY BANCSHARES, INC.®

REPORTS FIRST QUARTER

2026 EARNINGS

•Completed the merger of American Bank Holding Corporation on January 1, 2026

•Completed the merger of Southwest Bancshares, Inc. on February 1, 2026

•Net income of $116.3 million and diluted earnings per share of $1.16 for first quarter 2026; excluding merger related expenses of $42.5 million, net income was $149.9 million(1) and diluted earnings per share were $1.50(1)

•First quarter net interest margin increased 21 basis points to 3.51% compared to 3.30% for fourth quarter 2025

•Loans, excluding Warehouse Purchase Program loans, increased $3.354 billion or 16.4% during first quarter 2026

•Deposits increased $4.150 billion or 14.6% during first quarter 2026

•Allowance for credit losses on loans and on off-balance sheet credit exposure of $421.5 million and allowance for credit losses on loans to total loans, excluding Warehouse Purchase Program, of 1.61%(1)

•Nonperforming assets remain low at 0.33% of first quarter average interest-earning assets

•Completed core system conversion in February 2026

•Received all necessary regulatory approvals for the pending merger of Stellar Bancorp, Inc.

•Named in Forbes’ 2026 America’s Best Banks and is ranked among “America’s Best Regional Banks” by Newsweek in 2026

HOUSTON, April 29, 2026. Prosperity Bancshares, Inc.® (NYSE: PB) (“Prosperity Bancshares”), the parent company of Prosperity Bank® (collectively, “Prosperity”), reported net income of $116.3 million for the quarter ended March 31, 2026, compared with $130.2 million for the same period in 2025. Net income per diluted common share was $1.16 for the quarter ended March 31, 2026, compared with $1.37 for the same period in 2025. On January 1, 2026, American Bank Holding Corporation (“American”) merged with Prosperity Bancshares and American Bank, N.A. (“American Bank”) merged with Prosperity Bank (collectively, the “American Merger”), and on February 1, 2026, Southwest Bancshares, Inc. (“Southwest”) merged with Prosperity Bancshares and Texas Partners Bank (“Texas Partners”) merged with Prosperity Bank (collectively, the “Southwest Merger”, and together with the American Merger, the “Mergers”). During the first quarter of 2026, Prosperity incurred merger related expenses of $42.5 million, or $0.34(1)per diluted common share. Excluding these charges, net income was $149.9(1) million and earnings per diluted common share was $1.50(1) for the first quarter of 2026. Additionally, during the first quarter of 2026, loans, excluding Warehouse Purchase Program loans, increased $3.354 billion or 16.4%, and deposits increased $4.150 billion or 14.6%, with both increases primarily due to the Mergers. The annualized return on first quarter average assets was 1.10%. Nonperforming assets remain low at 0.33% of first quarter average interest-earning assets.

“The first quarter of 2026 was impactful for the company and I am excited to announce that during the quarter we completed the merger of American Bank Holding Corporation on January 1, 2026, completed the merger of Southwest Bancshares, Inc. on February 1, 2026 and announced the merger of Stellar Bancorp, Inc. on January 28, 2026, for which we have now received all necessary regulatory approvals and expect to complete on July 1, 2026. Additionally, we completed a core system conversion in February,” said David Zalman, Prosperity’s Senior Chairman and Chief Executive Officer.

______________

(1)Refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

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“We and others believe that Prosperity is doing the right thing. Prosperity has been ranked as one of Forbes America’s Best Banks for 2026, and since the list’s inception in 2010, was ranked in the Top 10 for 14 consecutive years. Prosperity has also been recognized by Newsweek as one of “America’s Best Regional Banks” and was ranked 15th in S&P Global Market Intelligence’s “Top 50 US Public Bank Ranking” for 2025,” continued Zalman.

“In an effort to continue to enhance shareholder value, Prosperity Bancshares repurchased approximately 837,000 shares of its common stock at an average weighted price of $68.15 per share for a total of $57.1 million during the first quarter of 2026,” added Zalman.

“Texas and Oklahoma continue to benefit from strong economies and are home to 57 Fortune 500 headquartered companies. Texas also benefits from diversification in various industries, including energy (oil, gas, renewables), technology, manufacturing, trade/logistics (major ports), healthcare and finance. Further, its business-friendly environment, no state income tax, population growth that support spending and workforce expansion, and key role in trade and cross-border commerce position it well for 2026 and the future,” stated Zalman.

“While Texas continues to outperform the Unites States on output growth, the labor market has cooled after years of expansion. The growth in 2026 is expected to be steady, although the state’s size, diversity and policy advantages position it well for a rebound,” concluded Zalman.

Results of Operations for the Three Months Ended March 31, 2026

For the three months ended March 31, 2026, net income was $116.3 million(2) or $1.16 per diluted common share compared with $130.2 million(3) or $1.37 per diluted common share for the same period in 2025. On a linked quarter basis, net income was $116.3 million(2) or $1.16 per diluted common share for the three months ended March 31, 2026, compared with $139.9 million(4) or $1.49 per diluted common share for the three months ended December 31, 2025. Net income and net income per diluted common share for the first quarter of 2026 were impacted by the Mergers and merger related expenses of $42.5 million. Excluding these charges, net income was $149.9(1) million and earnings per diluted common share was $1.50(1) for the three months ended March 31, 2026. Annualized returns on average assets, average common equity and average tangible common equity for the three months ended March 31, 2026 were 1.10%, 5.70% and 10.59%(1), respectively. Excluding merger related expenses, net of tax, annualized returns on average assets, average common equity and average tangible common equity for the three months ended March 31, 2026, were 1.42%(1), 7.35%(1) and 13.65%(1), respectively. Prosperity’s efficiency ratio (excluding net gains and losses on the sale, write-down or write-up of assets and securities) was 59.16%(1) for the three months ended March 31, 2026, and excluding merger related expenses, the efficiency ratio was 47.58%(1).

Net interest income before provision for credit losses was $321.2 million for the three months ended March 31, 2026, compared with $265.4 million for the same period in 2025, an increase of $55.8 million or 21.0%. The net interest margin on a tax equivalent basis was 3.51% for the three months ended March 31, 2026, compared with 3.14% for the same period in 2025. Net interest income before provision for credit losses increased $46.2 million or 16.8% to $321.2 million for the three months ended March 31, 2026, compared with $275.0 million for the three months ended December 31, 2025. The net interest margin on a tax equivalent basis was 3.51% for the three months ended March 31, 2026, compared with 3.30% for the three months ended December 31, 2025. The change for both periods were primarily due to the repricing of assets and the impact of the Mergers.

Noninterest income was $46.5 million for the three months ended March 31, 2026, compared with $41.3 million for the same period in 2025, an increase of $5.2 million or 12.5%. Noninterest income was $46.5 million for the three months ended March 31, 2026, compared with $42.8 million for the three months ended December 31, 2025, an increase of $3.7 million or 8.6%. The change for both periods was primarily due to the Mergers.

Noninterest expense was $217.3 million for the three months ended March 31, 2026, compared with $140.3 million for the same period in 2025, an increase of $77.0 million. Noninterest expense was $217.3 million for the three months ended March 31, 2026, compared with $138.7 million for the three months ended December 31, 2025, an increase of $78.6 million. The change for both periods was primarily due to an increase in merger related expenses of $42.5 million, an increase in salaries and benefits and an increase in additional expenses related to three months of American operations and two months of Southwest operations.

______________

(2)Includes purchase accounting adjustments of $4.8 million, net of tax, primarily comprised of loan discount accretion of $3.7 million and merger related provision for credit losses of $42.5 million for the three months ended March 31, 2026.

(3)Includes purchase accounting adjustments of $3.2 million, net of tax, primarily comprised of loan discount accretion of $3.3 million for the three months ended March 31, 2025.

(4)Includes purchase accounting adjustments of $2.7 million, net of tax, primarily comprised of loan discount accretion of $3.1 million for the three months ended December 31, 2025.

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Balance Sheet Information

Prosperity had $43.619 billion in total assets at March 31, 2026, an increase of $4.855 billion or 12.5%, compared with $38.765 billion at March 31, 2025. Linked quarter total assets increased by $5.156 billion or 13.4% compared with $38.463 billion at December 31, 2025. Total assets increased primarily due to the Mergers.

Loans were $25.288 billion at March 31, 2026, an increase of $3.310 billion or 15.1% from $21.978 billion at March 31, 2025. Linked quarter loans increased $3.483 billion or 16.0% from $21.805 billion at December 31, 2025. Loans increased primarily due to the Mergers. Loans, excluding Warehouse Purchase Program loans, were $23.855 billion at March 31, 2026, compared with $20.920 billion at March 31, 2025, an increase of $2.935 billion or 14.0%, and compared with $20.501 billion at December 31, 2025, an increase of $3.354 billion or 16.4%.

Deposits were $32.633 billion at March 31, 2026, an increase of $4.606 billion or 16.4%, from $28.027 billion at March 31, 2025. Linked quarter deposits increased $4.150 billion or 14.6% from $28.482 billion at December 31, 2025. Deposits increased primarily due to the Mergers.

Asset Quality

Nonperforming assets totaled $122.1 million or 0.33% of quarterly average interest-earning assets at March 31, 2026, compared with $81.4 million or 0.24% of quarterly average interest-earning assets at March 31, 2025 and $150.8 million or 0.46% of quarterly average interest-earning assets at December 31, 2025.

The allowance for credit losses on loans and off-balance sheet credit exposures was $421.5 million at March 31, 2026, compared with $386.7 million at March 31, 2025 and $371.4 million at December 31, 2025. There was no provision for credit losses for the three months ended March 31, 2026, March 31, 2025 and December 31, 2025.

The allowance for credit losses on loans was $383.8 million or 1.52% of total loans at March 31, 2026, compared with $349.1 million or 1.59% of total loans at March 31, 2025 and $333.7 million or 1.53% of total loans at December 31, 2025. The allowance for credit losses on loans increased during the first quarter of 2026 due to the Mergers, of which $47.5 million was attributable to the American Merger and $43.9 million was attributable to the Southwest Merger. Excluding Warehouse Purchase Program loans, the allowance for credit losses on loans to total loans was 1.61%(1) at March 31, 2026, compared with 1.67%(1) at March 31, 2025 and 1.63%(1) at December 31, 2025.

Net charge-offs were $41.3 million for the three months ended March 31, 2026, compared with net charge-offs of $2.7 million for the three months ended March 31, 2025 and net charge-offs of $5.9 million for the three months ended December 31, 2025. Net charge-offs for the first quarter 2026 included a $33.8 million increase in net charge-offs for commercial and industrial loans. Net charge-offs for the first quarter of 2026 included $2.0 million related to resolved purchased credit deteriorated (“PCD”) loans, which had specific reserves that were allocated to the charge-offs. Additionally, reserves on PCD loans increased by $49.0 million due to Day One accounting for PCD loans at the time of the Mergers. Further, $2.0 million of reserves on resolved PCD loans without any related charge-offs were released to the general reserve.

Dividend

Prosperity Bancshares declared a second quarter 2026 cash dividend of $0.60 per share to be paid on July 1, 2026, to all shareholders of record as of June 15, 2026.

Stock Repurchase Program

On January 26, 2026, Prosperity Bancshares announced a stock repurchase program under which up to 5%, or approximately 4.87 million shares, of its outstanding common stock may be acquired over a one-year period expiring on January 26, 2027, at the discretion of management. Under its 2026 stock repurchase program, Prosperity Bancshares repurchased approximately 837,000 shares of its common stock at an average weighted price of $68.15 per share for a total of $57.1 million during the three months ended March 31, 2026.

Pending Acquisition of Stellar Bancorp, Inc.

On January 28, 2026, Prosperity Bancshares and Stellar Bancorp, Inc. (“Stellar”) jointly announced the signing of an Agreement and Plan of Merger (the “Merger Agreement”), which provides that Stellar, the parent company of Stellar Bank (“Stellar Bank”), will merge with and into Prosperity Bancshares, and Stellar Bank will merge with and into Prosperity Bank. Stellar Bank operates 52 banking offices in greater Houston and Beaumont, Texas and surrounding areas.

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Under the terms and subject to the conditions of the Merger Agreement, Prosperity Bancshares will issue 0.3803 shares of its common stock and $11.36 in cash for each outstanding share of Stellar common stock. Based on Prosperity Bancshares’ closing price of $72.90 on January 27, 2026, the total consideration was valued at approximately $2.002 billion. Prosperity has received all necessary regulatory approvals for the acquisition of Stellar and Stellar Bank, and the transaction is expected to be completed on or about July 1, 2026, subject to approval by Stellar shareholders and the satisfaction or waiver of other customary closing conditions set for in the Merger Agreement.

Acquisition of Southwest Bancshares, Inc.

On February 1, 2026, Prosperity completed the acquisition of Southwest and its wholly owned subsidiary Texas Partners, headquartered in San Antonio, Texas. Texas Partners operated 11 banking offices in Central Texas including its main office in San Antonio, and banking offices in the San Antonio area, Austin and the Hill Country.

Pursuant to the terms of the definitive agreement, Prosperity Bancshares issued 4,094,974 shares of its common stock for all outstanding shares of Southwest common stock in the first quarter of 2026. This resulted in goodwill of $134.1 million as of March 31, 2026, which does not include all the subsequent fair value adjustments that have not yet been finalized. Additionally, Prosperity recognized $33.8 million of core deposit intangibles as of March 31, 2026.

Acquisition of American Bank Holding Corporation

On January 1, 2026, Prosperity completed the acquisition of American and its wholly owned subsidiary American Bank, headquartered in Corpus Christi, Texas. American Bank operated 18 banking offices and two loan production offices in South and Central Texas including its main office in Corpus Christi, and banking offices in San Antonio, Austin, Victoria and the greater Corpus Christi area including Port Aransas and Rockport and a loan production office in Houston, Texas.

Pursuant to the terms of the definitive agreement, Prosperity Bancshares issued 4,439,938 shares of its common stock for all outstanding shares of American common stock in the first quarter of 2026. This resulted in goodwill of $185.0 million as of March 31, 2026, which does not include all the subsequent fair value adjustments that have not yet been finalized. Additionally, Prosperity recognized $31.1 million of core deposit intangibles as of March 31, 2026.

Conference Call

Prosperity’s management team will host a conference call on Wednesday, April 29, 2026, at 11:30 a.m. Eastern Time (10:30 a.m. Central Time) to discuss Prosperity’s first quarter 2026 earnings. Individuals and investment professionals may participate in the call by dialing 877-883-0383 for domestic participants, or 412-902-6506 for international participants. The participant elite entry number is 7638209.

Alternatively, individuals may listen to the live webcast of the presentation by visiting Prosperity’s website at www.prosperitybankusa.com. The webcast may be accessed from Prosperity’s Investor Relations page by selecting “Presentations, Webcasts & Calls” from the menu and following the instructions.

Non-GAAP Financial Measures

Prosperity’s management uses certain non-GAAP financial measures to evaluate its performance. Specifically, for internal planning and forecasting purposes, Prosperity reviews each of diluted earnings per share, return on average assets, return on average common equity, and return on average tangible common equity, in each case excluding merger related expenses, net of tax, and FDIC special assessment, net of tax; return on average tangible common equity; tangible book value per share; the tangible equity to tangible assets ratio; allowance for credit losses to total loans excluding Warehouse Purchase Program loans; the efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets; and the efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets, merger related expenses, and FDIC special assessment. Prosperity believes these non-GAAP financial measures provide information useful to investors in understanding Prosperity’s financial results and their presentation, together with the accompanying reconciliations, provide a more complete understanding of factors and trends affecting Prosperity’s business and allow investors to view performance in a manner similar to management, the entire financial services sector, bank stock analysts and bank regulators. Further, Prosperity believes that these non-GAAP financial measures provide useful information by excluding certain items that may not be indicative of its core operating earnings and business outlook. These non-GAAP financial measures should not be considered a substitute for, nor of greater importance than, GAAP basis financial measures and results; Prosperity strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Please refer to the “Notes to Selected Financial Data” at

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the end of this Earnings Release for a reconciliation of these non-GAAP financial measures to the nearest respective GAAP financial measures.

Prosperity Bancshares, Inc. ®

As of March 31, 2026, Prosperity Bancshares, Inc.® is a $43.619 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.

Prosperity currently operates 312 full-service banking locations: 62 in the Houston area, including The Woodlands; 36 in the South Texas area including Corpus Christi and Victoria; 61 in the Dallas/Fort Worth area; 22 in the East Texas area; 28 in the Central Texas area including Austin and San Antonio; 45 in the West Texas area including Lubbock, Midland-Odessa, Abilene; Amarillo and Wichita Falls; 15 in the Bryan/College Station area, 6 in the Central Oklahoma area; 8 in the Tulsa, Oklahoma area; 18 in the Central, South Texas and San Antonio areas doing business as American Bank and 11 in the San Antonio area doing business as Texas Partners Bank.

Cautionary Notes on Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This press release contains, and the remarks by Prosperity’s management on the conference call may contain, statements regarding the proposed transaction between Prosperity Bancshares, Inc. (“Prosperity”) and Stellar Bancorp, Inc. (“Stellar”); future financial and operating results; benefits and synergies of the proposed transaction; future opportunities for Prosperity; the issuance of common stock of Prosperity contemplated by the Agreement and Plan of Merger by and between Prosperity and Stellar (the “Merger Agreement”); the expected timing of the closing of the proposed transaction contemplated by the Merger Agreement; the ability of the parties to complete the proposed transaction considering the various closing conditions and any other statements about future expectations that constitute forward-looking statements within the meaning of the federal securities laws, including the meaning of the Private Securities Litigation Reform Act of 1995, as amended, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, oral or written forward-looking statements may also be included in other information released to the public. Such forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “is anticipated,” “is expected,” “is intended,” “objective,” “plan,” “projected,” “projection,” “will affect,” “will be,” “will continue,” “will decrease,” “will grow,” “will impact,” “will increase,” “will incur,” “will reduce,” “will remain,” “will result,” “would be,” variations of such words or phrases (including where the word “could,” “may,” or “would” is used rather than the word “will” in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates, and projections about Prosperity, Stellar and their respective subsidiaries or related to the proposed transaction between Prosperity and Stellar and are subject to significant risks and uncertainties that could cause actual results to differ materially from the results expressed in such statements.

These forward-looking statements may include information about Prosperity’s and Stellar’s possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for loan losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity’s and Stellar’s future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity’s and Stellar’s loan portfolio and allowance for loan losses, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity’s and Stellar’s future operations, future or proposed acquisitions, the future or expected effect of acquisitions on Prosperity’s and Stellar’s operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of the proposed transaction, and statements about the assumptions underlying any such statement.

These forward-looking statements are not guarantees of future performance and are based on expectations and assumptions Prosperity currently believes to be valid. Because forward-looking statements relate to future results and occurrences, many of which are outside of the control of Prosperity and Stellar, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. 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

Page 5

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, interest rate and commodity price fluctuations; changes in trade policies by the United States or other countries, such as tariffs or retaliatory tariffs; and the effect, impact, potential duration or other implications of weather and climate-related events. Many possible events or factors could adversely affect the future financial results and performance of Prosperity, Stellar or the combined company and could cause those results or performance to differ materially from those expressed in or implied by the forward-looking statements. Such risks and uncertainties include, among others: (1) the risk that the cost savings and synergies from the proposed transaction may not be fully realized or may take longer than anticipated to be realized, (2) disruption to Prosperity’s and Stellar’s businesses as a result of the announcements and pendency of the proposed transaction, (3) the risk that the integration of Stellar’s businesses and operations into Prosperity will be materially delayed or will be more costly or difficult than expected, or that Prosperity is otherwise unable to successfully integrate Stellar’s business into its own, including as a result of unexpected factors or events, (4) the failure to obtain the necessary approval by the shareholders of Stellar, (5) reputational risk and the reaction of each company’s customers, suppliers, employees or other business partners to the proposed transaction, (6) the failure of the closing conditions in the Merger Agreement to be satisfied, or any unexpected delay in closing the proposed transaction or the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement, (7) the dilution caused by the issuances of additional shares of Prosperity’s common stock in the proposed transaction, (8) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (9) the outcome of any legal or regulatory proceedings that may be currently pending or later instituted against Prosperity before or after the proposed transaction, or against Stellar, (10) diversion of management’s attention from ongoing business operations and (11) general competitive, economic, political and market conditions and other factors that may affect future results of Prosperity and Stellar. Prosperity and Stellar disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. These and various other risks, uncertainties, assumptions, and factors are discussed in the respective Annual Reports on Form 10-K for the year ended December 31, 2025, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, filed by Prosperity or Stellar and in other filings made by Prosperity and Stellar with the Securities and Exchange Commission (the “SEC”) from time to time.

Additional Information about the Transaction and Where to Find It

In connection with the proposed transaction, Prosperity has filed with the SEC a registration statement (the “Registration Statement”) on Form S-4 (File No. 333-294882) to register the shares of Prosperity common stock to be issued to the shareholders of Stellar in connection with the proposed transaction. The Registration Statement includes a prospectus of Prosperity and a proxy statement of Stellar (the “proxy statement/prospectus”), which has been sent to the shareholders of Stellar in connection with the proposed transaction. The Registration Statement was declared effective on April 21, 2026, at which time Prosperity filed a final prospectus and Stellar filed a definitive proxy statement. The mailing of the proxy statement/prospectus to Stellar shareholders commenced on April 23, 2026. This communication is not a substitute for the Registration Statement, the proxy statement/prospectus or any other document that may be filed by Prosperity or Stellar with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE INTO THE PROXY/STATEMENT PROSPECTUS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain the Registration Statement and the proxy statement/prospectus and other documents that are filed with the SEC by Prosperity or Stellar, as applicable, free of charge from the SEC’s website at https://www.sec.gov or through the investor relations section of Prosperity’s website at https://www.prosperitybankusa.com/investor-relations/ or Stellar’s website at https://ir.stellar.bank.

Participants in the Solicitation

Prosperity, Stellar and certain of their directors and executive officers and other employees may be deemed to be participants in the solicitation of proxies from Stellar’s shareholders in connection with the proposed transaction. Information about the directors and executive officers of Prosperity and their ownership of Prosperity common stock is contained in the definitive proxy statement for Prosperity’s 2026 annual meeting of shareholders (the “Prosperity Annual Meeting Proxy Statement”), which was filed with the SEC on March 16, 2026, including under the headings “Item 1. Election of Directors,” “Corporate Governance,” “Executive Compensation and Other Matters,” “Item 3. Advisory Vote on Executive Compensation,” and “Beneficial Ownership of Common Stock by Management of the Company and Principal Shareholders.” Information about the directors and executive officers of Stellar and their ownership of Stellar common stock is contained in Amendment No. 1 to the Annual Report on Form 10-K for the year ended December 31, 2025 of Stellar (the “Stellar 10-K/A”), which was filed with the SEC on April 17, 2026. Additional information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders of Stellar in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, is included in the proxy statement/prospectus relating to the proposed transaction filed with the SEC. To the extent holdings of

Page 6

securities by potential participants (or the identity of such participants) have changed since the information printed in the Prosperity Annual Meeting Proxy Statement or the Stellar 10-K/A, such information has been or will be reflected on Statements of Change in Ownership on Forms 3 and 4 filed with the SEC, as applicable. Free copies of the proxy statement/prospectus relating to the proposed transaction and free copies of the other SEC filings to which reference is made in this paragraph may be obtained from the SEC’s website at https://www.sec.gov or through the investor relations section of Prosperity’s website at https://www.prosperitybankusa.com/investor-relations/ or Stellar’s website at https://ir.stellar.bank.

No Offer or Solicitation

This communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, or the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, invitation, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, and otherwise in accordance with applicable law.

Page 7

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(In thousands)

		Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Balance Sheet Data (at period end)
Loans held for sale		$	21,925			$	14,155			$	11,297			$	6,004			$	9,764
Loans held for investment			23,832,909				20,486,415				20,738,294				20,903,944				20,909,913
Loans held for investment - Warehouse Purchase Program			1,433,152				1,304,798				1,278,178				1,287,440				1,057,893
Total loans			25,287,986				21,805,368				22,027,769				22,197,388				21,977,570
Investment securities(A)			11,951,591				10,613,425				10,232,462				10,608,104				10,792,731
Federal funds sold			209				217				210				197				221
Allowance for credit losses on loans			(383,840	)			(333,742	)			(339,626	)			(346,084	)			(349,101	)
Cash and due from banks			1,547,967				1,747,511				1,766,115				1,304,993				1,694,637
Goodwill			3,822,283				3,503,127				3,503,127				3,503,127				3,503,127
Core deposit intangibles, net			111,243				51,605				55,194				58,796				62,406
Other real estate owned			13,257				13,296				13,750				7,874				8,012
Fixed assets, net			429,775				383,449				378,776				374,602				373,273
Other assets			838,712				679,169				692,692				708,355				701,799
Total assets		$	43,619,183			$	38,463,425			$	38,330,469			$	38,417,352			$	38,764,675
Noninterest-bearing deposits		$	10,580,920			$	9,467,911			$	9,522,028			$	9,426,657			$	9,675,915
Interest-bearing deposits			22,051,836				19,014,573				18,260,066				18,046,754				18,350,884
Total deposits			32,632,756				28,482,484				27,782,094				27,473,411				28,026,799
Other borrowings			2,200,000				1,950,000				2,400,000				2,900,000				2,700,000
Securities sold under repurchase agreements			176,099				201,216				185,797				183,572				216,086
Subordinated notes and junior subordinated debentures			76,186				—				—				—				—
Allowance for credit losses on off-balance sheet credit exposures			37,646				37,646				37,646				37,646				37,646
Other liabilities			288,645				175,939				259,994				222,987				267,083
Total liabilities			35,411,332				30,847,285				30,665,531				30,817,616				31,247,614
Shareholders' equity(B)			8,207,851				7,616,140				7,664,938				7,599,736				7,517,061
Total liabilities and equity		$	43,619,183			$	38,463,425			$	38,330,469			$	38,417,352			$	38,764,675

(A) Includes $44, ($375), ($1,987), ($1,657) and ($1,374) in unrealized gain (losses) on available for sale securities for the quarterly periods ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

(B) Includes $35, ($296), ($1,570), ($1,309) and ($1,085) in after-tax unrealized gain (losses) on available for sale securities for the quarterly periods ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

Page 8

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(In thousands)

		Three Months Ended
		Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Income Statement Data
Interest income:
Loans		$	361,756			$	321,516			$	329,445			$	325,490			$	319,023
Securities(C)			70,531				56,767				58,207				57,836				57,886
Federal funds sold and other earning assets			9,488				8,364				10,455				9,438				15,896
Total interest income			441,775				386,647				398,107				392,764				392,805
Interest expense:
Deposits			104,237				94,625				95,965				93,790				95,597
Other borrowings			14,783				16,028				27,613				30,101				30,492
Securities sold under repurchase agreements			902				1,041				1,094				1,151				1,334
Subordinated notes and junior subordinated debentures			703				—				—				—				—
Total interest expense			120,625				111,694				124,672				125,042				127,423
Net interest income			321,150				274,953				273,435				267,722				265,382
Provision for credit losses			—				—				—				—				—
Net interest income after provision for credit losses			321,150				274,953				273,435				267,722				265,382
Noninterest income:
Nonsufficient funds (NSF) fees			10,867				9,715				9,805				8,885				9,147
Credit card, debit card and ATM card income			9,483				9,462				9,446				9,761				8,739
Service charges on deposit accounts			8,680				7,618				7,317				7,645				7,408
Trust income			4,922				3,662				3,526				3,859				3,601
Mortgage income			1,280				954				931				965				1,009
Brokerage income			1,568				1,570				1,328				1,225				1,262
Bank owned life insurance income			2,598				2,117				2,111				1,985				2,115
Net gain (loss) on sale or write-down of assets			318				35				3				1,414				(235	)
Other noninterest income			6,758				7,647				6,771				7,243				8,255
Total noninterest income			46,474				42,780				41,238				42,982				41,301
Noninterest expense:
Salaries and benefits			109,211				88,384				87,949				87,296				89,476
Net occupancy and equipment			10,654				9,379				9,395				9,168				9,146
Credit and debit card, data processing and software amortization			18,114				12,621				12,515				12,056				11,422
Regulatory assessments and FDIC insurance			6,041				1,600				5,198				5,508				5,789
Core deposit intangibles amortization			5,259				3,588				3,602				3,610				3,641
Depreciation			5,548				5,155				4,966				4,779				4,774
Communications			3,834				3,528				3,480				3,507				3,473
Other real estate expense			341				219				314				204				140
Net (gain) loss on sale or write-down of other real estate			(41	)			109				(81	)			(222	)			(30	)
Merger related expenses			42,516				268				62				—				—
Other noninterest expense			15,810				13,861				11,235				12,659				12,470
Total noninterest expense			217,287				138,712				138,635				138,565				140,301
Income before income taxes			150,337				179,021				176,038				172,139				166,382
Provision for income taxes			34,070				39,114				38,482				36,984				36,157
Net income available to common shareholders		$	116,267			$	139,907			$	137,556			$	135,155			$	130,225

(C) Interest income on securities was reduced by net premium amortization of $3,829, $4,668, $2,877, $4,926, and $5,027 for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

Page 9

Prosperity Bancshares, Inc. ®

Financial Highlights (Unaudited)

(Dollars and share amounts in thousands, except per share data and market prices)

		Three Months Ended
		Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Profitability
Net income (D) (E)		$	116,267			$	139,907			$	137,556			$	135,155			$	130,225
Basic earnings per share		$	1.16			$	1.49			$	1.45			$	1.42			$	1.37
Diluted earnings per share		$	1.16			$	1.49			$	1.45			$	1.42			$	1.37
Return on average assets (F) (J)			1.10	%			1.49	%			1.44	%			1.41	%			1.34	%
Return on average common equity (F) (J)			5.70	%			7.30	%			7.18	%			7.13	%			6.94	%
Return on average tangible common equity (F) (G) (J)			10.59	%			13.61	%			13.43	%			13.44	%			13.23	%
Tax equivalent net interest margin (D) (E) (H)			3.51	%			3.30	%			3.24	%			3.18	%			3.14	%
Efficiency ratio (G) (I) (K)			59.16	%			43.66	%			44.06	%			44.80	%			45.71	%
Liquidity and Capital Ratios
Equity to assets			18.82	%			19.80	%			20.00	%			19.78	%			19.39	%
Common equity tier 1 capital			15.44	%			17.55	%			17.53	%			17.10	%			16.92	%
Tier 1 risk-based capital			15.44	%			17.55	%			17.53	%			17.10	%			16.92	%
Total risk-based capital			16.69	%			18.80	%			18.78	%			18.35	%			18.17	%
Tier 1 leverage capital			11.22	%			11.93	%			11.90	%			11.62	%			11.20	%
Period end tangible equity to period end tangible assets (G)			10.77	%			11.63	%			11.81	%			11.58	%			11.23	%
Other Data
Weighted-average shares used in computing earnings per common share
Basic			99,825				94,044				95,093				95,277				95,266
Diluted			99,825				94,044				95,093				95,277				95,266
Period end shares outstanding			100,835				93,058				94,993				95,277				95,258
Cash dividends paid per common share		$	0.60			$	0.60			$	0.58			$	0.58			$	0.58
Book value per common share		$	81.40			$	81.84			$	80.69			$	79.76			$	78.91
Tangible book value per common share (G)		$	42.39			$	43.64			$	43.23			$	42.38			$	41.48
Common Stock Market Price
High		$	77.20			$	73.90			$	75.44			$	74.56			$	82.75
Low		$	63.20			$	61.07			$	64.27			$	61.57			$	68.96
Period end closing price		$	67.18			$	69.11			$	66.35			$	70.24			$	71.37
Employees – FTE (excluding overtime)			4,429				3,941				3,937				3,921				3,898
Number of banking centers			312				283				283				283				284

(D) Includes purchase accounting adjustments for the periods presented as follows:

	Three Months Ended
	Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025
Loan discount accretion
Purchased seasoned loans (“PS loans”)	$2,562		$2,926		$2,242		$2,486		$2,615
PCD	$1,186		$205		$613		$638		$677
Securities net accretion	$1,573		$342		$1,475		$409		$705
Time deposits amortization	$(699)		$(1)		$(1)		$(2)		$(9)

(E) Using effective tax rate of 22.7%, 21.8%, 21.9%, 21.5% and 21.7% for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

(F) Interim periods annualized.

(G) Refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

(H) Net interest margin for all periods presented is based on average balances on an actual 365-day basis.

(I) Calculated by dividing total noninterest expense, excluding credit loss provisions, by net interest income plus noninterest income, excluding net gains and losses on the sale, write-down or write-up of assets and securities. Additionally, taxes are not part of this calculation.

(J) For calculations of the annualized returns on average assets, average common equity and average tangible common equity excluding merger related expenses, net of tax, and FDIC special assessment, net of tax, refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

(K) For calculations of the efficiency ratio excluding merger related expenses and FDIC special assessment refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of these non-GAAP financial measures to the nearest respective GAAP financial measures.

Page 10

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

YIELD ANALYSIS		Three Months Ended
		Mar 31, 2026										Dec 31, 2025												Mar 31, 2025
		Average Balance				Interest Earned/ Interest Paid				Average Yield/ Rate	(L)	Average Balance				Interest Earned/ Interest Paid				Average Yield/ Rate			(L)	Average Balance				Interest Earned/ Interest Paid				Average Yield/ Rate			(L)
Interest-earning assets:
Loans held for sale		$	15,800			$	238			6.11%		$	11,077			$	175			6.27%				$	7,570			$	127			6.80%
Loans held for investment			23,469,020				344,596			5.95%			20,603,235				302,679			5.83%					20,959,226				305,068			5.90%
Loans held for investment - Warehouse Purchase Program			1,207,793				16,922			5.68%			1,258,036				18,662			5.89%					876,086				13,828			6.40%
Total loans			24,692,613				361,756			5.94%			21,872,348				321,516			5.83%					21,842,882				319,023			5.92%
Investment securities			11,469,762				70,531			2.49%	(M)		10,378,696				56,767			2.17%			(M)		11,017,400				57,886			2.13%			(M)
Federal funds sold and other earning assets			1,026,015				9,488			3.75%			830,926				8,364			3.99%					1,443,220				15,896			4.47%
Total interest-earning assets			37,188,390				441,775			4.82%			33,081,970				386,647			4.64%					34,303,502				392,805			4.64%
Allowance for credit losses on loans			(330,133	)									(337,892	)											(350,715	)
Noninterest-earning assets			5,361,351										4,921,850												5,004,291
Total assets		$	42,219,608									$	37,665,928											$	38,957,078
Interest-bearing liabilities:
Interest-bearing demand deposits		$	6,266,423			$	13,993			0.91%		$	4,812,342			$	9,088			0.75%				$	5,224,796			$	9,019			0.70%
Savings and money market deposits			10,583,184				50,719			1.94%			9,054,281				44,771			1.96%					9,007,286				45,645			2.06%
Certificates and other time deposits			4,830,369				39,525			3.32%			4,519,742				40,766			3.58%					4,426,521				40,933			3.75%
Other borrowings			1,620,556				14,783			3.70%			1,595,652				16,028			3.99%					2,776,667				30,492			4.45%
Securities sold under repurchase agreements			177,719				902			2.06%			185,289				1,041			2.23%					217,945				1,334			2.48%
Subordinated notes and junior subordinated debentures			63,673				703			4.48%			—				—				—				—				—				—
Total interest-bearing liabilities			23,541,924				120,625			2.08%	(N)		20,167,306				111,694			2.20%			(N)		21,653,215				127,423			2.39%			(N)
Noninterest-bearing liabilities:
Noninterest-bearing demand deposits			10,260,022										9,543,581												9,504,540
Allowance for credit losses on off-balance sheet credit exposures			38,070										37,646												37,646
Other liabilities			218,810										248,593												255,876
Total liabilities			34,058,826										29,997,126												31,451,277
Shareholders' equity			8,160,782										7,668,802												7,505,801
Total liabilities and shareholders' equity		$	42,219,608									$	37,665,928											$	38,957,078
Net interest income and margin						$	321,150			3.50%						$	274,953			3.30%								$	265,382			3.14%
Non-GAAP to GAAP reconciliation:
Tax equivalent adjustment							575										514												587
Net interest income and margin      (tax equivalent basis)						$	321,725			3.51%						$	275,467			3.30%								$	265,969			3.14%

(L) Annualized and based on an actual 365-day basis.

(M) Yield on securities was impacted by net premium amortization of $3,829, $4,668, and $5,027 for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

(N) Total cost of funds, including noninterest bearing deposits, was 1.45%, 1.49% and 1.66% for the three months ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

Page 11

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

	Three Months Ended
	Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
YIELD TREND (O)
Interest-Earning Assets:
Loans held for sale		6.11	%			6.27	%			6.64	%			6.79	%			6.80	%
Loans held for investment		5.95	%			5.83	%			5.90	%			5.88	%			5.90	%
Loans held for investment - Warehouse Purchase Program		5.68	%			5.89	%			6.31	%			6.34	%			6.40	%
Total loans		5.94	%			5.83	%			5.92	%			5.91	%			5.92	%
Investment securities (P)		2.49	%			2.17	%			2.19	%			2.13	%			2.13	%
Federal funds sold and other earning assets		3.75	%			3.99	%			4.44	%			4.50	%			4.47	%
Total interest-earning assets		4.82	%			4.64	%			4.71	%			4.66	%			4.64	%
Interest-Bearing Liabilities:
Interest-bearing demand deposits		0.91	%			0.75	%			0.76	%			0.74	%			0.70	%
Savings and money market deposits		1.94	%			1.96	%			2.07	%			2.05	%			2.06	%
Certificates and other time deposits		3.32	%			3.58	%			3.60	%			3.59	%			3.75	%
Other borrowings		3.70	%			3.99	%			4.42	%			4.44	%			4.45	%
Securities sold under repurchase agreements		2.06	%			2.23	%			2.32	%			2.37	%			2.48	%
Subordinated notes and junior subordinated debentures		4.48	%			—				—				—				—
Total interest-bearing liabilities		2.08	%			2.20	%			2.39	%			2.38	%			2.39	%
Net Interest Margin		3.50	%			3.30	%			3.23	%			3.18	%			3.14	%
Net Interest Margin (tax equivalent)		3.51	%			3.30	%			3.24	%			3.18	%			3.14	%

(O) Annualized and based on average balances on an actual 365-day basis.

(P) Yield on securities was impacted by net premium amortization of $3,829, $4,668, $2,877, $4,926 and $5,027 for the three months ended March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

Page 12

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

		Three Months Ended
		Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Balance Sheet Averages
Loans held for sale		$	15,800			$	11,077			$	8,371			$	9,813			$	7,570
Loans held for investment			23,469,020				20,603,235				20,851,896				20,907,400				20,959,226
Loans held for investment - Warehouse Purchase Program			1,207,793				1,258,036				1,217,579				1,179,307				876,086
Total loans			24,692,613				21,872,348				22,077,846				22,096,520				21,842,882
Investment securities			11,469,762				10,378,696				10,530,807				10,867,856				11,017,400
Federal funds sold and other earning assets			1,026,015				830,926				934,318				841,933				1,443,220
Total interest-earning assets			37,188,390				33,081,970				33,542,971				33,806,309				34,303,502
Allowance for credit losses on loans			(330,133	)			(337,892	)			(343,872	)			(348,310	)			(350,715	)
Cash and due from banks			391,668				311,541				291,809				294,379				326,066
Goodwill			3,718,640				3,503,127				3,503,127				3,503,127				3,503,128
Core deposit intangibles, net			50,089				53,553				56,956				60,739				64,293
Other real estate			14,690				14,004				11,533				8,749				7,105
Fixed assets, net			423,530				380,254				377,680				374,486				374,448
Other assets			762,734				659,371				689,659				691,735				729,251
Total assets		$	42,219,608			$	37,665,928			$	38,129,863			$	38,391,214			$	38,957,078
Noninterest-bearing deposits		$	10,260,022			$	9,543,581			$	9,451,153			$	9,508,845			$	9,504,540
Interest-bearing demand deposits			6,266,423				4,812,342				4,656,452				4,807,864				5,224,796
Savings and money market deposits			10,583,184				9,054,281				8,977,585				8,944,897				9,007,286
Certificates and other time deposits			4,830,369				4,519,742				4,422,996				4,366,510				4,426,521
Total deposits			31,939,998				27,929,946				27,508,186				27,628,116				28,163,143
Other borrowings			1,620,556				1,595,652				2,480,435				2,717,583				2,776,667
Securities sold under repurchase agreements			177,719				185,289				187,462				194,577				217,945
Subordinated notes and junior subordinated debentures			63,673				—				—				—				—
Allowance for credit losses on off-balance sheet credit exposures			38,070				37,646				37,646				37,646				37,646
Other liabilities			218,810				248,593				258,156				227,002				255,876
Shareholders' equity			8,160,782				7,668,802				7,657,978				7,586,290				7,505,801
Total liabilities and equity		$	42,219,608			$	37,665,928			$	38,129,863			$	38,391,214			$	38,957,078

Page 13

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

		Mar 31, 2026							Dec 31, 2025							Sep 30, 2025							Jun 30, 2025							Mar 31, 2025
Period End Balances
Loan Portfolio
Commercial and industrial		$	2,759,190			10.9	%		$	1,864,337			8.6	%		$	1,879,282			8.5	%		$	1,897,117			8.6	%		$	1,915,124			8.7	%
Warehouse purchase program			1,433,152			5.7	%			1,304,798			6.0	%			1,278,178			5.8	%			1,287,440			5.8	%			1,057,893			4.8	%
Construction, land development and other land loans			3,253,389			12.9	%			2,741,455			12.6	%			2,865,279			13.0	%			2,873,238			12.9	%			2,845,082			13.0	%
1-4 family residential			7,876,021			31.1	%			7,430,929			34.1	%			7,461,900			33.9	%			7,530,816			33.9	%			7,576,350			34.5	%
Home equity			846,739			3.3	%			843,708			3.8	%			848,740			3.9	%			869,370			3.9	%			896,529			4.1	%
Commercial real estate (includes multi-family residential)			7,126,212			28.2	%			5,776,397			26.5	%			5,796,937			26.3	%			5,827,645			26.3	%			5,783,410			26.3	%
Agriculture (includes farmland)			1,064,540			4.2	%			1,027,904			4.7	%			1,019,589			4.6	%			1,029,250			4.6	%			1,013,960			4.6	%
Consumer and other			406,680			1.6	%			376,241			1.7	%			366,027			1.7	%			368,747			1.7	%			378,821			1.7	%
Energy			522,063			2.1	%			439,599			2.0	%			511,837			2.3	%			513,765			2.3	%			510,401			2.3	%
Total loans		$	25,287,986						$	21,805,368						$	22,027,769						$	22,197,388						$	21,977,570
Deposit Types
Noninterest-bearing DDA		$	10,580,920			32.4	%		$	9,467,911			33.2	%		$	9,522,028			34.3	%		$	9,426,657			34.3	%		$	9,675,915			34.5	%
Interest-bearing DDA			6,345,797			19.5	%			5,365,795			18.8	%			4,766,146			17.2	%			4,708,251			17.1	%			4,931,769			17.6	%
Money market			8,163,557			25.0	%			6,538,213			23.0	%			6,402,591			23.0	%			6,302,770			23.0	%			6,339,509			22.6	%
Savings			2,743,732			8.4	%			2,592,873			9.1	%			2,616,196			9.4	%			2,667,859			9.7	%			2,703,736			9.7	%
Certificates and other time deposits			4,798,750			14.7	%			4,517,692			15.9	%			4,475,133			16.1	%			4,367,874			15.9	%			4,375,870			15.6	%
Total deposits		$	32,632,756						$	28,482,484						$	27,782,094						$	27,473,411						$	28,026,799
Loan to Deposit Ratio			77.5	%						76.6	%						79.3	%						80.8	%						78.4	%

Page 14

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

Construction Loans

		Mar 31, 2026							Dec 31, 2025							Sep 30, 2025							Jun 30, 2025							Mar 31, 2025
Single family residential construction		$	690,393			21.2	%		$	613,288			22.4	%		$	665,194			23.2	%		$	696,569			24.2	%		$	727,417			25.6	%
Land development			407,811			12.5	%			252,650			9.2	%			248,616			8.7	%			227,254			7.9	%			225,784			7.9	%
Raw land			276,693			8.5	%			220,169			8.0	%			230,021			8.0	%			248,380			8.7	%			261,918			9.2	%
Residential lots			249,071			7.7	%			199,709			7.3	%			203,396			7.1	%			217,835			7.6	%			219,115			7.7	%
Commercial lots			61,691			1.9	%			59,683			2.2	%			59,853			2.1	%			55,176			1.9	%			56,343			2.0	%
Commercial construction and other			1,567,640			48.2	%			1,396,850			50.9	%			1,459,255			50.9	%			1,428,985			49.7	%			1,355,587			47.6	%
Net unaccreted premium (discount)			90							(894	)						(1,056	)						(961	)						(1,082	)
Total construction loans		$	3,253,389						$	2,741,455						$	2,865,279						$	2,873,238						$	2,845,082

Non-Owner Occupied Commercial Real Estate Loans by Metropolitan Statistical Area (MSA) as of March 31, 2026

	Houston				Dallas				Austin				OK City				Tulsa				Other (Q)				Total
Collateral Type
Shopping center/retail	$	237,105			$	218,672			$	60,763			$	16,078			$	10,018			$	364,143			$	906,779
Commercial and industrial buildings		213,914				104,905				31,958				32,429				11,380				301,121				695,707
Office buildings		149,264				292,193				77,325				42,683				4,364				114,900				680,729
Medical buildings		112,178				23,961				25,942				42,033				25,393				74,690				304,197
Apartment buildings		144,493				83,548				101,393				9,566				12,568				224,751				576,319
Hotel		119,709				117,533				36,689				12,740				—				252,738				539,409
Other		192,874				70,247				153,285				4,638				6,663				433,289				860,996
Total	$	1,169,537			$	911,059			$	487,355			$	160,167			$	70,386			$	1,765,632			$	4,564,136		(R)

Acquired Loans

	PS Loans												PCD Loans												Total Acquired Loans
	Balance at Acquisition Date				Balance at Dec 31, 2025				Balance at Mar 31, 2026				Balance at Acquisition Date				Balance at Dec 31, 2025				Balance at Mar 31, 2026				Balance at Acquisition Date				Balance at Dec 31, 2025				Balance at Mar 31, 2026
Loan marks:
Acquired banks (S)	$	388,625			$	17,479			$	15,064			$	332,400			$	5,267			$	5,053			$	721,025			$	22,746			$	20,117
American Bank (T)		15,473				—				15,902				1,923				—				1,297				17,396				—				17,199
Texas Partners Bank (U)		38,467				—				37,626				2,422				—				2,090				40,889				—				39,716
Total		442,565				17,479				68,592				336,745				5,267			$	8,440				779,310				22,746				77,032
Acquired portfolio loan balances:
Acquired banks (S)		14,323,981				1,498,731				1,331,556				1,376,673				300,010				293,365				15,700,654		(V)		1,798,741				1,624,921
American Bank (T)		1,810,982				—				1,684,101				93,300				—				89,055				1,904,282				—				1,773,156
Texas Partners Bank (U)		1,864,565				—				1,769,908				76,199				—				70,248				1,940,764				—				1,840,156
Total		17,999,528				1,498,731				4,785,565				1,546,172				300,010				452,668				19,545,700				1,798,741				5,238,233
Acquired portfolio loan balances less loan marks	$	17,556,963			$	1,481,252			$	4,716,973			$	1,209,427			$	294,743			$	444,228			$	18,766,390			$	1,775,995			$	5,161,201

(Q) Includes other MSA and non-MSA regions.

(R) Represents a portion of total commercial real estate loans of $7.126 billion as of March 31, 2026.

(S) Includes Bank Arlington, American State Bank, Community National Bank, First Federal Bank Texas, Coppermark Bank, First Victoria National Bank, The F&M Bank & Trust Company, Tradition Bank, LegacyTexas Bank, FirstCapital Bank and Lone Star Bank.

(T) The American Merger was completed on January 1, 2026. The American Merger resulted in the addition of $1.904 billion in loans with related purchase accounting adjustments of $17.4 million at acquisition date.

(U) The Southwest Merger was completed on February 1, 2026. The Southwest Merger resulted in the addition of $1.941 billion in loans with related purchase accounting adjustments of $40.9 million at acquisition date.

(V) Actual principal balances acquired.

Page 15

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

	Three Months Ended
	Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Asset Quality
Nonaccrual loans	$	106,473			$	137,217			$	105,529			$	102,031			$	73,287
Accruing loans 90 or more days past due		2,241				317				268				576				91
Total nonperforming loans		108,714				137,534				105,797				102,607				73,378
Repossessed assets		136				12				16				6				29
Other real estate		13,257				13,296				13,750				7,874				8,012
Total nonperforming assets	$	122,107			$	150,842			$	119,563			$	110,487			$	81,419
Nonperforming assets:
Commercial and industrial (includes energy)	$	17,495			$	57,237			$	27,880			$	27,680			$	8,966
Construction, land development and other land loans		2,054				2,183				583				1,859				1,952
1-4 family residential (includes home equity)		63,168				60,296				57,241				50,501				42,481
Commercial real estate (includes multi-family residential)		17,880				9,215				11,471				12,865				12,257
Agriculture (includes farmland)		16,259				16,713				17,080				17,547				15,725
Consumer and other		5,251				5,198				5,308				35				38
Total	$	122,107			$	150,842			$	119,563			$	110,487			$	81,419
Number of loans/properties		484				449				424				392				363
Allowance for credit losses on loans	$	383,840			$	333,742			$	339,626			$	346,084			$	349,101
Net charge-offs (recoveries):
Commercial and industrial (includes energy)	$	39,225			$	5,388			$	3,341			$	1,044			$	330
Construction, land development and other land loans		—				(154	)			34				(3	)			(156	)
1-4 family residential (includes home equity)		862				175				853				342				1,051
Commercial real estate (includes multi-family residential)		(121	)			(665	)			1,015				55				178
Agriculture (includes farmland)		52				(5	)			(40	)			(14	)			—
Consumer and other		1,291				1,145				1,255				1,593				1,301
Total	$	41,309			$	5,884			$	6,458			$	3,017			$	2,704
Asset Quality Ratios
Nonperforming assets to average interest-earning assets		0.33	%			0.46	%			0.36	%			0.33	%			0.24	%
Nonperforming assets to loans and other real estate		0.48	%			0.69	%			0.54	%			0.50	%			0.37	%
Net charge-offs to average loans (annualized)		0.67	%			0.11	%			0.12	%			0.05	%			0.05	%
Allowance for credit losses on loans to total loans		1.52	%			1.53	%			1.54	%			1.56	%			1.59	%
Allowance for credit losses on loans to total loans, excluding Warehouse Purchase Program loans (G)		1.61	%			1.63	%			1.64	%			1.66	%			1.67	%

Page 16

Prosperity Bancshares, Inc.®

Notes to Selected Financial Data (Unaudited)

(Dollars and share amounts in thousands, except per share data)

NOTES TO SELECTED FINANCIAL DATA

Prosperity’s management uses certain non-GAAP (generally accepted accounting principles) financial measures to evaluate its performance. Specifically, for internal planning and forecasting purposes, Prosperity reviews each of diluted earnings per share, return on average assets, return on average common equity, and return on average tangible common equity, in each case excluding merger related expenses, net of tax, and FDIC special assessment, net of tax; return on average tangible common equity; tangible book value per share; the tangible equity to tangible assets ratio; allowance for credit losses to total loans excluding Warehouse Purchase Program loans; the efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets; and the efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets, merger related expenses and FDIC special assessment. In addition, due to the application of purchase accounting, Prosperity uses certain non-GAAP financial measures and ratios that exclude the impact of these items to evaluate its allowance for credit losses to total loans (excluding Warehouse Purchase Program loans). Prosperity has included information below relating to these non-GAAP financial measures for the applicable periods presented.

		Three Months Ended
		Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Reconciliation of diluted earnings per share to diluted earnings per share excluding merger related expenses, net of tax, and FDIC special assessment, net of tax:
Diluted earnings per share (unadjusted)		$	1.16			$	1.49			$	1.45			$	1.42			$	1.37
Net income		$	116,267			$	139,907			$	137,556			$	135,155			$	130,225
Merger related expenses, net of tax(W)			33,588				212				49				—				—
FDIC special assessment, net of tax(W)			—				(2,807	)			—				—				—
Net income excluding merger related expenses, net of tax, and FDIC special assessment, net of tax(W):		$	149,855			$	137,312			$	137,605			$	135,155			$	130,225
Weighted average diluted shares outstanding			99,825				94,044				95,093				95,277				95,266
Merger related expenses, net of tax, per diluted common share(W)		$	0.34			$	—			$	—			$	—			$	—
FDIC special assessment, net of tax, per diluted common share(W)		$	—			$	(0.03	)		$	—			$	—			$	—
Diluted earnings per share excluding merger related expenses, net of tax, and FDIC special assessment, net of tax:(W)		$	1.50			$	1.46			$	1.45			$	1.42			$	1.37
Reconciliation of return on average assets to return on average assets excluding merger related expenses, net of tax, and FDIC special assessment, net of tax:
Return on average assets (unadjusted)			1.10	%			1.49	%			1.44	%			1.41	%			1.34	%
Net income excluding merger related expenses, net of tax, and FDIC special assessment, net of tax(W):		$	149,855			$	137,312			$	137,605			$	135,155			$	130,225
Average total assets		$	42,219,608			$	37,665,928			$	38,129,863			$	38,391,214			$	38,957,078
Return on average assets excluding merger related expenses, net of tax, and FDIC special assessment, net of tax (F) (W)			1.42	%			1.46	%			1.44	%			1.41	%			1.34	%
Reconciliation of return on average common equity to return on average common equity excluding merger related expenses, net of tax, and FDIC special assessment, net of tax:
Return on average common equity (unadjusted)			5.70	%			7.30	%			7.18	%			7.13	%			6.94	%
Net income excluding merger related expenses, net of tax, and FDIC special assessment, net of tax(W):		$	149,855			$	137,312			$	137,605			$	135,155			$	130,225
Average shareholders' equity		$	8,160,782			$	7,668,802			$	7,657,978			$	7,586,290			$	7,505,801
Return on average common equity excluding merger related expenses, net of tax, and FDIC special assessment, net of tax (F) (W)			7.35	%			7.16	%			7.19	%			7.13	%			6.94	%
Reconciliation of return on average common equity to return on average tangible common equity:
Net income		$	116,267			$	139,907			$	137,556			$	135,155			$	130,225
Average shareholders' equity		$	8,160,782			$	7,668,802			$	7,657,978			$	7,586,290			$	7,505,801
Less: Average goodwill and other intangible assets			(3,768,729	)			(3,556,680	)			(3,560,083	)			(3,563,866	)			(3,567,421	)
Average tangible shareholders’ equity		$	4,392,053			$	4,112,122			$	4,097,895			$	4,022,424			$	3,938,380
Return on average tangible common equity (F)			10.59	%			13.61	%			13.43	%			13.44	%			13.23	%

(W) Calculated assuming a federal tax rate of 21.0%.

Page 17

		Three Months Ended
		Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Reconciliation of return on average common equity to return on average tangible common equity excluding merger related expenses, net of tax, and FDIC special assessment, net of tax:
Net income excluding merger related expenses, net of tax, and FDIC special assessment, net of tax(W):		$	149,855			$	137,312			$	137,605			$	135,155			$	130,225
Average shareholders' equity		$	8,160,782			$	7,668,802			$	7,657,978			$	7,586,290			$	7,505,801
Less: Average goodwill and other intangible assets			(3,768,729	)			(3,556,680	)			(3,560,083	)			(3,563,866	)			(3,567,421	)
Average tangible shareholders’ equity		$	4,392,053			$	4,112,122			$	4,097,895			$	4,022,424			$	3,938,380
Return on average tangible common equity excluding merger related expenses, net of tax, and FDIC special assessment, net of tax (F) (W)			13.65	%			13.36	%			13.43	%			13.44	%			13.23	%
Reconciliation of book value per share to tangible book value per share:
Shareholders’ equity		$	8,207,851			$	7,616,140			$	7,664,938			$	7,599,736			$	7,517,061
Less: Goodwill and other intangible assets			(3,933,526	)			(3,554,732	)			(3,558,321	)			(3,561,923	)			(3,565,533	)
Tangible shareholders’ equity		$	4,274,325			$	4,061,408			$	4,106,617			$	4,037,813			$	3,951,528
Period end shares outstanding			100,835				93,058				94,993				95,277				95,258
Tangible book value per share		$	42.39			$	43.64			$	43.23			$	42.38			$	41.48
Reconciliation of equity to assets ratio to period end tangible equity to period end tangible assets ratio:
Tangible shareholders’ equity		$	4,274,325			$	4,061,408			$	4,106,617			$	4,037,813			$	3,951,528
Total assets		$	43,619,183			$	38,463,425			$	38,330,469			$	38,417,352			$	38,764,675
Less: Goodwill and other intangible assets			(3,933,526	)			(3,554,732	)			(3,558,321	)			(3,561,923	)			(3,565,533	)
Tangible assets		$	39,685,657			$	34,908,693			$	34,772,148			$	34,855,429			$	35,199,142
Period end tangible equity to period end tangible assets ratio			10.77	%			11.63	%			11.81	%			11.58	%			11.23	%
Reconciliation of allowance for credit losses to total loans to allowance for credit losses on loans to total loans excluding Warehouse Purchase Program:
Allowance for credit losses on loans		$	383,840			$	333,742			$	339,626			$	346,084			$	349,101
Total loans		$	25,287,986			$	21,805,368			$	22,027,769			$	22,197,388			$	21,977,570
Less: Warehouse Purchase Program loans			(1,433,152	)			(1,304,798	)			(1,278,178	)			(1,287,440	)			(1,057,893	)
Total loans less Warehouse Purchase Program		$	23,854,834			$	20,500,570			$	20,749,591			$	20,909,948			$	20,919,677
Allowance for credit losses on loans to total loans excluding Warehouse Purchase Program			1.61	%			1.63	%			1.64	%			1.66	%			1.67	%
Reconciliation of efficiency ratio to efficiency ratio excluding net gains and losses on the sale, write-down or write-up of assets:
Noninterest expense		$	217,287			$	138,712			$	138,635			$	138,565			$	140,301
Net interest income		$	321,150			$	274,953			$	273,435			$	267,722			$	265,382
Noninterest income			46,474				42,780				41,238				42,982				41,301
Less: net gain (loss) on sale or write-down of assets			318				35				3				1,414				(235	)
Noninterest income excluding net gains and losses on the sale, write-down or write-up of assets			46,156				42,745				41,235				41,568				41,536
Total income excluding net gains and losses on the sale, write-down or write-up of assets		$	367,306			$	317,698			$	314,670			$	309,290			$	306,918
Efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets			59.16	%			43.66	%			44.06	%			44.80	%			45.71	%

Page 18

		Three Months Ended
		Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Jun 30, 2025				Mar 31, 2025
Reconciliation of efficiency ratio to efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets, merger related expenses and FDIC special assessment:
Noninterest expense		$	217,287			$	138,712			$	138,635			$	138,565			$	140,301
Less: merger related expenses			42,516				268				62				—				—
Less: FDIC special assessment			—				(3,554	)			—				—				—
Noninterest expense excluding merger related expenses and FDIC special assessment		$	174,771			$	141,998			$	138,573			$	138,565			$	140,301
Net interest income		$	321,150			$	274,953			$	273,435			$	267,722			$	265,382
Noninterest income			46,474				42,780				41,238				42,982				41,301
Less: net gain (loss) on sale or write down of assets			318				35				3				1,414				(235	)
Noninterest income excluding net gains and losses on the sale, write-down or write-up of assets			46,156				42,745				41,235				41,568				41,536
Total income excluding net gains and losses on the sale, write-down or write-up of assets		$	367,306			$	317,698			$	314,670			$	309,290			$	306,918
Efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets, merger related expenses and FDIC special assessment			47.58	%			44.70	%			44.04	%			44.80	%			45.71	%

Page 19

FAQ

How did Prosperity Bancshares (PB) perform financially in Q1 2026?

Prosperity Bancshares reported net income of $116.3 million, or $1.16 per diluted share, for Q1 2026. Excluding $42.5 million of merger-related expenses, net income was $149.9 million and diluted earnings per share were $1.50, reflecting solid underlying profitability.

What drove loan and deposit growth for Prosperity Bancshares (PB) in Q1 2026?

Loans grew to $25.29 billion and deposits to $32.63 billion at March 31, 2026. Increases of 15.1% and 16.4% year over year, respectively, were primarily due to the completed acquisitions of American Bank Holding Corporation and Southwest Bancshares, Inc..

How did asset quality and credit costs trend for Prosperity Bancshares (PB)?

Nonperforming assets were $122.1 million, or 0.33% of quarterly average interest-earning assets, indicating generally low problem assets. However, net charge-offs rose to $41.3 million, including a $33.8 million increase in commercial and industrial charge-offs, raising overall credit cost levels.

What is Prosperity Bancshares’ (PB) capital and dividend position after Q1 2026?

At March 31, 2026, the common equity tier 1 capital ratio was 15.44% and tangible equity to tangible assets was 10.77%. The company declared a Q2 2026 cash dividend of $0.60 per share, payable July 1, 2026, to shareholders of record on June 15, 2026.

What share repurchases did Prosperity Bancshares (PB) complete in Q1 2026?

Under its 2026 stock repurchase program, Prosperity Bancshares repurchased approximately 837,000 shares of common stock during Q1 2026. The average weighted repurchase price was $68.15 per share, for a total cost of about $57.1 million, within its authorized 5% program.

What are the key details of Prosperity Bancshares’ (PB) pending acquisition of Stellar Bancorp?

Prosperity will issue 0.3803 shares of its common stock plus $11.36 in cash for each Stellar share. Based on a Prosperity share price of $72.90 on January 27, 2026, the total consideration was valued at approximately $2.002 billion, with closing expected on or about July 1, 2026.

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