Prosperity Bank Acquires FirstCapital Bank of Texas

HOUSTON – Prosperity Bank®, which has a branch in San Angelo, announced Tuesday that it has received all regulatory approvals necessary to complete its previously announced acquisition of First Bancshares of Texas, Inc., the parent company of FirstCapital Bank of Texas, N.A. (“FirstCapital”).

The merger is expected to be effective as of May 1, 2023.  “We are excited to have received the required regulatory and shareholder approvals for this transaction and look forward having the FirstCapital customers and associates join the Prosperity Bank team in several weeks,” said David Zalman, Prosperity’s Senior Chairman and Chief Executive Officer.

FirstCapital banking locations will continue to operate under the FirstCapital name until the operational integration, which is scheduled for May 15, 2023. At that time, FirstCapital customers may begin using any of Prosperity Bank’s combined 286 banking centers.

FirstCapital Bank operates sixteen (16) banking centers in six different markets in West, North and Central Texas, including Midland, Lubbock, Amarillo, Wichita Falls, Burkburnett, Byers, Henrietta, Dallas, Horseshoe Bay, Marble Falls and Fredericksburg, Texas. As of December 31, 2022, First Bancshares, on a consolidated basis, reported total assets of $2.16 billion, total loans of $1.64 billion and total deposits of $1.80 billion.

As of December 31, 2022, Prosperity Bancshares, Inc.® is a $37.690 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses and communities in the areas it serves by providing financial solutions to simplify everyday financial needs.

In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.

Prosperity currently operates 272 full-service banking locations: 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 62 in the Dallas/Fort Worth area; 22 in the East Texas area; 29 in the Central Texas area including Austin and San Antonio; 34 in the West Texas area including San Angelo, Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area.