About This Deal

Prosperity Bancshares acquired Lone Star State Bancshares, Inc. (Lone Star State Bank of West Texas) for $228.7 million, a transaction announced in April 2024.

Acquired the parent of Lone Star State Bank of West Texas, a $1.37 billion-asset, five-office Lubbock-based franchise; total consideration was valued at approximately $228.7 million at announcement (2,376,182 shares plus $64.1 million cash).

Acquired the parent of Lone Star State Bank of West Texas, a $1.37 billion-asset, five-office Lubbock-based franchise; total consideration was valued at approximately $228.7 million at announcement (2,376,182 shares plus $64.1 million cash).

Deal Terms

Acquirer
Prosperity Bancshares
Target
Lone Star State Bancshares, Inc. (Lone Star State Bank of West Texas)
Value
$228.7 million
Date
April 2024
Type
Full acquisition
Status
Completed

Transaction Details

Announced
April 1, 2024

Advisors

Advisory firms were not disclosed for this transaction.

Related Deals & Entities

Sources: Press release ↗

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