The consolidation of Houston banking took another small step forward Wednesday when Prosperity Bancshares announced plans to acquire Commercial Bancshares, a privately held competitor, for $53 million in stock.

The city’s fast-growing economy has made it a magnet for merger-and-acquisition activity. The merger deal was the 29th involving Houston banks announced since the beginning of 1998.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.