Prosperity Bancshares, Inc.® (NYSE:PB) ("Prosperity"), the parent company of Prosperity Bank®, and American Bank Holding Corporation ("American"), the parent holding company of American Bank, N.A. ("American Bank"), headquartered in Corpus Christi, Texas, today jointly announced the signing of a definitive merger agreement whereby Prosperity will acquire American and American Bank.

American Bank operates eighteen (18) banking offices and two (2) 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. As of March 31, 2025, American, on a consolidated basis, reported total assets of $2.5 billion, total loans of $1.8 billion and total deposits of $2.3 billion.

Under the terms and subject to the conditions of the definitive agreement, Prosperity will issue 4,439,981 shares of Prosperity common stock for all outstanding shares of American common stock, subject to certain potential adjustments. Based on Prosperity's closing price of $72.40 on July 16, 2025, the total consideration was valued at approximately $321.5 million.

The merger has been unanimously approved by the Boards of Directors of both companies and is expected to close during the fourth quarter of 2025 or first quarter of 2026. The transaction is subject to certain conditions, including approval by American's shareholders and customary regulatory approvals.