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New Deal


Announced

Completed

Prosperity Bancshares completed the acquisition of Lone Star State Bancshares for $229m.

Financials

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Transaction Value£206m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Banks

Majority

Single Bidder

United States

Domestic

Private

Acquisition

Merger

bank holding company

Completed

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Synopsis

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Prosperity Bancshares, a bank holding company headquartered in Houston, Texas, completed the acquisition of Lone Star State Bancshares, the parent company of Lone Star State Bank of West Texas, for $229m. "It has been a pleasure getting to know Alan and Melisa and the management team at Lone Star. We are very excited to have them join our organization. We continue to look for opportunities to enhance our presence in the West Texas area and Lone Star Bank’s locations in Lubbock, Midland/Odessa, Big Spring and surrounding areas are an excellent fit for us. The customers of Lone Star will be able to use any of our locations across Texas and Oklahoma after operational integration," David Zalman, Prosperity Senior Chairman and CEO.

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