Prosperity Bancshares Inc. in Houston said first-quarter earnings rose 57% from a year earlier, to a record $20 million.
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Earnings per share increased 8.6%, to 50 cents.
The increases were mostly the result of two acquisitions completed since the first quarter of last year.
Executives at Prosperity said during a conference call Friday that organic loan and deposit growth were flat from the fourth quarter.
"Going into the rest of the year, we're going to see some organic growth, but it may not be historically what people would like to see," David Zalman, the $6.3 billion-asset company's chairman and chief executive officer.
Executives said Prosperity allowed some large loans in the portfolio to run off, because they became too risky.
