“Prosperity Bank makes latest acquisition”
Houston-based Prosperity Bancshares Inc. (NYSE: PB) has acquired Bellaire-based Tradition Bancshares Inc.
As of June 30, Tradition Bank had total assets of $522.1 million, total loans of $242.4 million and total deposits of $463.8 million. The company operates seven banks in the Houston area, including its main office in Bellaire, three banking centers in Katy and one banking center in The Woodlands.
Tradition was advised in the transaction by Sandler O’Neill + Partners L.P., as financial advisor, and Thompson Knight LLP, as legal counsel.