Prosperity Bancshares Inc. in Houston said second-quarter earnings grew almost 2% from a year earlier, to $23 million, or 52 cents a share.
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Nonperforming assets increased about 4%, to $11.6 million, or 0.22% of average earning assets as of June 30.
Prosperity’s provision for loan losses shrank 16% from the first quarter, to $1 million. Chargeoffs fell 25%, to $1.2 million.
“While we are certainly not immune to the issues facing the commercial banking industry nationwide, we are pleased with our performance and are cautiously optimistic about the future,” David Zalman, Prosperity’s chairman and chief executive, said in a press release.
The results were in line with analysts’ expectations, according to Thomson Reuters.
