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

Prosperity Bancshares has acquired Stellar Bancorp, a banking business in Texas, for $2.0 billion. Stellar Bancorp operates as a financial services provider through its banking subsidiary, and the merger acquisition brings additional Texas banking customers and deposit relationships into Prosperity’s footprint. Prosperity Bancshares acquisitions are structured as a strategic acquisition and financial services M&A combination, with Stellar Bank merging into Prosperity Bank after the merger acquisition closes. The merger acquisition is valued at $11.36 per Stellar share in cash plus 0.3803 shares of Prosperity common stock, with a strategic acquisition rationale to expand scale and strengthen market presence.