Prosperity Bancshares in Houston reported third-quarter earnings of $2 million, up 27%.
For the nine months that ended Sept. 30, net income was $6 million, or $1.14 a share, up from $4.5 million, or 87 cents a share.
Prosperity's chairman, Tracy T. Rudolph, cited a "continued emphasis on cost control, asset quality, and a larger asset base." Its purchase of five branches from Compass Bank of Houston brought it $87 million of deposits and $5 million of loans.
Prosperity, which has assets of $693 million, is the corporate parent of First Prosperity Bank. It was founded in 1983 and has 18 branches in Houston and the surrounding counties.
