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Prosperity Bancshares (PB) in Houston has agreed to buy Coppermark Bancshares in Oklahoma City, Okla., for $193.9 million in cash and stock.
December 10 -
Continuing its string of acquisitions in its home state, Prosperity Bancshares in Houston has agreed to buy FVNB Corp. in Victoria, Texas.
July 1
Prosperity Bancshares (PB) in Houston has agreed to buy F&M Bancorp in Tulsa, Okla.
Prosperity said Thursday that it will pay $47 million in cash and issue roughly 3.3 million shares for the $2.4 billion-asset F&M, which has 13 branches, $1.9 billion in loans and $2.2 billion in deposits. The $16 billion-asset Prosperity said it expects to complete the acquisition in the first quarter, with integration taking place in the second quarter.
"F&M Bank has an attractive core deposit base and a focus in commercial and industrial lending," David Zalman, Prosperity's chairman and chief executive, said in a press release. "F&M Bank, like Prosperity, has high touch customer service with strong customer relationships and community involvement."
Prosperity has completed six acquisitions in the last two years, and has
Anthony Davis, F&M's chairman and chief executive, will oversee Prosperity's operations in Tulsa. The company entered Oklahoma earlier this year with its
F&M was received financial advice from J.P. Morgan Securities, legal counsel from Norton Rose Fulbright and regulatory counsel from Fenimore, Kay, Harrison & Ford. Bracewell & Giuliani served as Prosperity's legal counsel, while Keefe, Bruyette & Woods advised on the financial aspects of the deal.
