Prosperity Bancorp of Houston said Friday that its second-quarter net income totaled $12.2 million, up 46% from a year earlier.
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Net income for the half was $22.8 million, up 39%.
Chief executive officer David Zalman said that the $3.4 billion-asset company is benefiting from a number of positive trends: robust internal growth, an expanding net interest margin, increased fee income, and exceptional asset quality. Nonperforming loans amounted to just 9 basis points of total assets and 18 basis points of total loans.
