Texas

Houston-based Prosperity Bancshares said it closed its purchase of Lone Star State Bancshares about a year later than initially planned.

The Columbus, Ohio, regional bank will focus first on Dallas before venturing statewide. Its move into the Lone Star State comes three months after announcing a similar initiative in the Carolinas.

The Attorney General's office found the firm complies with a 2021 state law banning contracts with companies that "discriminate" against the firearm industry.

"Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security," said Gov. Ron DeSantis.

Though housing is experiencing severe rate-related stress, mortgage banking remains central to the Denver-based bank's business model. The Texas market has held up better than much of the rest of the country, company executives say.

Under the leadership of new CEO Rob Holmes, the Dallas-based company has embarked upon a top-to-bottom transformation to become the "flagship financial services firm" of the Lone Star State. But can Holmes make progress quickly enough to satisfy impatient investors?

The measure bans banks that discriminate against gunmakers from entering into government contracts. Citigroup, which supporters of the law were targeting, has lost market share while Bank of America and JPMorgan Chase have gained ground.

Sam Susser, who built a family business of more than 630 convenience stores in the state, thinks he can find similar success in community banking by courting small commercial clients that larger rivals have outgrown.

The plan underscores how Chief Executive David Solomon is seeking to reshape U.S. operations geographically as he looks to rein in expenses, placing thousands of jobs in cheaper locales.

Though the community bank has most of its branches in California and is buying a Florida bank, CEO Scott Kavanaugh is eager to pursue targets in the Lone Star State after moving the corporate headquarters to Dallas.