Stellar Bancorp Acquired by Prosperity Bancshares | Financial Services M&A Deal

Prosperity Bancshares has acquired Stellar Bancorp, a banking business in Texas, for $38.463 billion. Prosperity Bancshares acquisitions expand regional commercial and consumer banking through Prosperity Bank, while Stellar Bancorp operates Stellar Bank with diversified commercial banking services from Houston, Texas. The Stellar Bancorp acquisition supports financial services M&A and merger acquisition strategy for strategic acquisition and TX acquisitions across Texas banking markets. Prosperity Bancshares acquisitions are structured as a merger acquisition, with regulatory approvals received for the holding company and FDIC and Texas Department of Banking approval for the bank merger, and a special Stellar shareholder meeting scheduled for May 27, 2026, with expected completion around July 1, 2026.