pb-10q_20220930.htm
0001068851
--12-31
Q3
false
P90D
http://fasb.org/us-gaap/2022#OtherAssets
http://fasb.org/us-gaap/2022#OtherLiabilities
0001068851
2022-01-01
2022-09-30
xbrli:shares
0001068851
2022-10-31
iso4217:USD
0001068851
2022-09-30
0001068851
2021-12-31
iso4217:USD
xbrli:shares
0001068851
2022-07-01
2022-09-30
0001068851
2021-07-01
2021-09-30
0001068851
2021-01-01
2021-09-30
0001068851
us-gaap:CommonStockMember
2022-06-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2022-06-30
0001068851
us-gaap:RetainedEarningsMember
2022-06-30
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-06-30
0001068851
2022-06-30
0001068851
us-gaap:RetainedEarningsMember
2022-07-01
2022-09-30
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-07-01
2022-09-30
0001068851
us-gaap:CommonStockMember
2022-07-01
2022-09-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2022-07-01
2022-09-30
0001068851
us-gaap:CommonStockMember
2022-09-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2022-09-30
0001068851
us-gaap:RetainedEarningsMember
2022-09-30
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-09-30
0001068851
us-gaap:CommonStockMember
2021-12-31
0001068851
us-gaap:AdditionalPaidInCapitalMember
2021-12-31
0001068851
us-gaap:RetainedEarningsMember
2021-12-31
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-12-31
0001068851
us-gaap:RetainedEarningsMember
2022-01-01
2022-09-30
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-01-01
2022-09-30
0001068851
us-gaap:CommonStockMember
2022-01-01
2022-09-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2022-01-01
2022-09-30
0001068851
us-gaap:RetainedEarningsMember
2021-07-01
2021-09-30
0001068851
us-gaap:RetainedEarningsMember
2021-01-01
2021-09-30
0001068851
us-gaap:CommonStockMember
2021-06-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2021-06-30
0001068851
us-gaap:RetainedEarningsMember
2021-06-30
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-06-30
0001068851
2021-06-30
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001068851
us-gaap:CommonStockMember
2021-07-01
2021-09-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2021-07-01
2021-09-30
0001068851
us-gaap:CommonStockMember
2021-09-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2021-09-30
0001068851
us-gaap:RetainedEarningsMember
2021-09-30
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-09-30
0001068851
2021-09-30
0001068851
us-gaap:CommonStockMember
2020-12-31
0001068851
us-gaap:AdditionalPaidInCapitalMember
2020-12-31
0001068851
us-gaap:RetainedEarningsMember
2020-12-31
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-12-31
0001068851
2020-12-31
0001068851
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-09-30
0001068851
us-gaap:CommonStockMember
2021-01-01
2021-09-30
0001068851
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-09-30
0001068851
2021-01-01
2021-12-31
xbrli:pure
0001068851
us-gaap:CollateralizedMortgageObligationsMember
2022-09-30
0001068851
us-gaap:MortgageBackedSecuritiesMember
2022-09-30
0001068851
us-gaap:USStatesAndPoliticalSubdivisionsMember
2022-09-30
0001068851
us-gaap:CorporateDebtSecuritiesMember
2022-09-30
0001068851
us-gaap:CollateralizedMortgageObligationsMember
2021-12-31
0001068851
us-gaap:MortgageBackedSecuritiesMember
2021-12-31
0001068851
us-gaap:USStatesAndPoliticalSubdivisionsMember
2021-12-31
pb:Segment
pb:Security
0001068851
us-gaap:StockholdersEquityTotalMember
pb:SecuritiesConcentrationRiskMember
pb:OtherThanUSGovernmentAndAgenciesMember
2022-01-01
2022-09-30
0001068851
us-gaap:StockholdersEquityTotalMember
pb:SecuritiesConcentrationRiskMember
pb:OtherThanUSGovernmentAndAgenciesMember
2021-01-01
2021-12-31
0001068851
us-gaap:CollateralizedSecuritiesMember
2022-09-30
0001068851
us-gaap:CollateralizedSecuritiesMember
2021-12-31
0001068851
pb:ResidentialMortgageLoansMember
2022-09-30
0001068851
pb:ResidentialMortgageLoansMember
2021-12-31
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2021-12-31
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
pb:FarmlandMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:FarmlandMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
us-gaap:AgriculturalSectorMember
2022-09-30
0001068851
us-gaap:AgriculturalSectorMember
2021-12-31
0001068851
pb:ConsumerAndOtherMember
2022-09-30
0001068851
pb:ConsumerAndOtherMember
2021-12-31
0001068851
pb:WarehousePurchaseProgramLoansMember
2022-09-30
0001068851
pb:WarehousePurchaseProgramLoansMember
2021-12-31
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
pb:FinancingReceivables30To89DaysPastDueMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
pb:FinancingReceivables30To89DaysPastDueMember
2022-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
pb:FinancingReceivables30To89DaysPastDueMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
pb:FinancingReceivables30To89DaysPastDueMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
pb:ConsumerAndOtherMember
2022-09-30
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
2022-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
2022-09-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:FinancialAssetPastDueMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
us-gaap:FinancialAssetPastDueMember
2022-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:FinancialAssetPastDueMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:FinancialAssetPastDueMember
us-gaap:RealEstateSectorMember
2022-09-30
0001068851
us-gaap:FinancialAssetPastDueMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
us-gaap:FinancialAssetPastDueMember
pb:ConsumerAndOtherMember
2022-09-30
0001068851
us-gaap:FinancialAssetPastDueMember
2022-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2021-12-31
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
us-gaap:CommercialAndIndustrialSectorMember
2021-12-31
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
pb:ConsumerAndOtherMember
2021-12-31
0001068851
pb:FinancingReceivables30To89DaysPastDueMember
2021-12-31
0001068851
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
us-gaap:CommercialAndIndustrialSectorMember
2021-12-31
0001068851
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
2021-12-31
0001068851
us-gaap:FinancialAssetPastDueMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
us-gaap:FinancialAssetPastDueMember
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2021-12-31
0001068851
us-gaap:FinancialAssetPastDueMember
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
us-gaap:FinancialAssetPastDueMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-12-31
0001068851
us-gaap:FinancialAssetPastDueMember
us-gaap:CommercialAndIndustrialSectorMember
2021-12-31
0001068851
us-gaap:FinancialAssetPastDueMember
pb:ConsumerAndOtherMember
2021-12-31
0001068851
us-gaap:FinancialAssetPastDueMember
2021-12-31
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2021-12-31
0001068851
us-gaap:NonperformingFinancingReceivableMember
pb:FinancingReceivableNonAccrualStatusMember
2022-09-30
0001068851
us-gaap:NonperformingFinancingReceivableMember
pb:FinancingReceivableNonAccrualStatusMember
2021-12-31
0001068851
us-gaap:NonperformingFinancingReceivableMember
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
2022-09-30
0001068851
us-gaap:NonperformingFinancingReceivableMember
us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
2021-12-31
0001068851
us-gaap:NonperformingFinancingReceivableMember
2022-09-30
0001068851
us-gaap:NonperformingFinancingReceivableMember
2021-12-31
0001068851
pb:TroubledDebtRestructuringMember
us-gaap:NonperformingFinancingReceivableMember
pb:FinancingReceivableNonAccrualStatusMember
2022-09-30
0001068851
pb:TroubledDebtRestructuringMember
us-gaap:NonperformingFinancingReceivableMember
pb:FinancingReceivableNonAccrualStatusMember
2021-12-31
0001068851
pb:TroubledDebtRestructuringMember
us-gaap:NonperformingFinancingReceivableMember
pb:FinancingReceivableNonAccrualStatusMember
pb:WarehousePurchaseProgramLoansMember
2022-09-30
0001068851
pb:TroubledDebtRestructuringMember
us-gaap:NonperformingFinancingReceivableMember
pb:FinancingReceivableNonAccrualStatusMember
pb:WarehousePurchaseProgramLoansMember
2021-12-31
0001068851
pb:NonperformingFinancingReceivableAssetsMember
2022-09-30
0001068851
pb:NonperformingFinancingReceivableAssetsMember
2021-12-31
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-09-30
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2021-12-31
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-06-30
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2021-06-30
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2020-12-31
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2021-07-01
2021-09-30
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2021-01-01
2021-09-30
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-07-01
2022-09-30
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-01-01
2022-09-30
0001068851
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2021-09-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2022-09-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2021-12-31
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2022-06-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2021-06-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2020-12-31
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2021-07-01
2021-09-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2022-07-01
2022-09-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2022-01-01
2022-09-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2021-01-01
2021-09-30
0001068851
us-gaap:FinancialAssetAcquiredAndNoCreditDeteriorationMember
2021-09-30
0001068851
us-gaap:PrimeMember
us-gaap:RealEstateSectorMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
2022-09-30
0001068851
pb:Grade3Member
us-gaap:RealEstateSectorMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
2022-09-30
0001068851
pb:Grade4Member
us-gaap:RealEstateSectorMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
2022-09-30
0001068851
us-gaap:SpecialMentionMember
us-gaap:RealEstateSectorMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
2022-09-30
0001068851
pb:SubstandardAndNonImpairedMember
us-gaap:RealEstateSectorMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
2022-09-30
0001068851
us-gaap:InternalInvestmentGradeMember
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
pb:Grade3Member
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
pb:Grade4Member
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
us-gaap:SpecialMentionMember
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
pb:Grade3Member
us-gaap:RealEstateSectorMember
pb:FamilyResidential14IncludesHomeEquityMember
2022-09-30
0001068851
pb:Grade4Member
us-gaap:RealEstateSectorMember
pb:FamilyResidential14IncludesHomeEquityMember
2022-09-30
0001068851
us-gaap:SpecialMentionMember
us-gaap:RealEstateSectorMember
pb:FamilyResidential14IncludesHomeEquityMember
2022-09-30
0001068851
pb:SubstandardAndImpairedMember
us-gaap:RealEstateSectorMember
pb:FamilyResidential14IncludesHomeEquityMember
2022-09-30
0001068851
us-gaap:PrimeMember
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
pb:SubstandardAndNonImpairedMember
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
us-gaap:PrimeMember
us-gaap:RealEstateSectorMember
pb:FamilyResidential14IncludesHomeEquityMember
2022-09-30
0001068851
pb:SubstandardAndNonImpairedMember
us-gaap:RealEstateSectorMember
pb:FamilyResidential14IncludesHomeEquityMember
2022-09-30
0001068851
pb:SubstandardAndImpairedMember
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-09-30
0001068851
us-gaap:InternalInvestmentGradeMember
us-gaap:RealEstateSectorMember
pb:FamilyResidential14IncludesHomeEquityMember
2022-09-30
0001068851
us-gaap:RealEstateSectorMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-09-30
0001068851
pb:SubstandardAndImpairedMember
us-gaap:RealEstateSectorMember
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
2022-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-09-30
0001068851
us-gaap:PrimeMember
us-gaap:RealEstateSectorMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
2022-09-30
0001068851
pb:Grade3Member
us-gaap:RealEstateSectorMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
2022-09-30
0001068851
pb:Grade4Member
us-gaap:RealEstateSectorMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
2022-09-30
0001068851
us-gaap:SpecialMentionMember
us-gaap:RealEstateSectorMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
2022-09-30
0001068851
pb:SubstandardAndNonImpairedMember
us-gaap:RealEstateSectorMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
2022-09-30
0001068851
us-gaap:InternalInvestmentGradeMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
us-gaap:PrimeMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
pb:Grade3Member
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
pb:Grade4Member
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
us-gaap:SpecialMentionMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
pb:SubstandardAndNonImpairedMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
pb:SubstandardAndImpairedMember
us-gaap:CommercialAndIndustrialSectorMember
2022-09-30
0001068851
us-gaap:InternalInvestmentGradeMember
pb:ConsumerAndOtherMember
2022-09-30
0001068851
us-gaap:PrimeMember
pb:ConsumerAndOtherMember
2022-09-30
0001068851
pb:Grade3Member
pb:ConsumerAndOtherMember
2022-09-30
0001068851
us-gaap:RealEstateSectorMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-09-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember
2022-09-30
0001068851
pb:Grade4Member
pb:ConsumerAndOtherMember
2022-09-30
0001068851
pb:SubstandardAndImpairedMember
us-gaap:RealEstateSectorMember
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
2022-09-30
0001068851
pb:SubstandardAndImpairedMember
pb:ConsumerAndOtherMember
2022-09-30
0001068851
us-gaap:SpecialMentionMember
pb:ConsumerAndOtherMember
2022-09-30
0001068851
pb:Grade3Member
pb:WarehousePurchaseProgramLoansMember
2022-09-30
0001068851
us-gaap:InternalInvestmentGradeMember
2022-09-30
0001068851
us-gaap:PrimeMember
2022-09-30
0001068851
pb:Grade3Member
2022-09-30
0001068851
pb:Grade4Member
2022-09-30
0001068851
us-gaap:SpecialMentionMember
2022-09-30
0001068851
pb:SubstandardAndNonImpairedMember
2022-09-30
0001068851
pb:SubstandardAndImpairedMember
2022-09-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2022-06-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-06-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2022-06-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2022-06-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2022-06-30
0001068851
pb:ConsumerAndOtherMember
2022-06-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2022-07-01
2022-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-07-01
2022-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2022-07-01
2022-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2022-07-01
2022-09-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2022-07-01
2022-09-30
0001068851
pb:ConsumerAndOtherMember
2022-07-01
2022-09-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2022-01-01
2022-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2022-01-01
2022-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2022-01-01
2022-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2022-01-01
2022-09-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2022-01-01
2022-09-30
0001068851
pb:ConsumerAndOtherMember
2022-01-01
2022-09-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2021-06-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2021-06-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-06-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-06-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2021-06-30
0001068851
pb:ConsumerAndOtherMember
2021-06-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2021-07-01
2021-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2021-07-01
2021-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-07-01
2021-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-07-01
2021-09-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2021-07-01
2021-09-30
0001068851
pb:ConsumerAndOtherMember
2021-07-01
2021-09-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2021-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2021-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-09-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2021-09-30
0001068851
pb:ConsumerAndOtherMember
2021-09-30
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2020-12-31
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2020-12-31
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2020-12-31
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2020-12-31
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2020-12-31
0001068851
pb:ConsumerAndOtherMember
2020-12-31
0001068851
pb:ConstructionLandDevelopmentAndOtherLandLoansMember
us-gaap:RealEstateSectorMember
2021-01-01
2021-09-30
0001068851
pb:AgricultureAndAgricultureRealEstateIncludesFarmlandMember
2021-01-01
2021-09-30
0001068851
pb:FamilyResidential14IncludesHomeEquityMember
us-gaap:RealEstateSectorMember
2021-01-01
2021-09-30
0001068851
pb:CommercialRealEstateIncludesMultifamilyResidentialMember
us-gaap:RealEstateSectorMember
2021-01-01
2021-09-30
0001068851
us-gaap:CommercialAndIndustrialSectorMember
2021-01-01
2021-09-30
0001068851
pb:ConsumerAndOtherMember
2021-01-01
2021-09-30
0001068851
pb:CARESActMember
pb:PaycheckProtectionProgramMember
2022-01-01
2022-09-30
0001068851
pb:TroubledDebtRestructuringMember
2022-09-30
0001068851
pb:TroubledDebtRestructuringMember
2021-12-31
0001068851
pb:TroubledDebtRestructuringMember
2021-09-30
pb:contract
0001068851
us-gaap:CollateralizedMortgageObligationsMember
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2022-09-30
0001068851
us-gaap:CollateralizedMortgageObligationsMember
us-gaap:FairValueMeasurementsRecurringMember
2022-09-30
0001068851
us-gaap:MortgageBackedSecuritiesMember
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2022-09-30
0001068851
us-gaap:MortgageBackedSecuritiesMember
us-gaap:FairValueMeasurementsRecurringMember
2022-09-30
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2022-09-30
0001068851
us-gaap:FairValueMeasurementsRecurringMember
2022-09-30
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:InterestRateLockCommitmentsMember
2022-09-30
0001068851
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:InterestRateLockCommitmentsMember
2022-09-30
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
pb:ForwardMortgageBackedSecuritiesTradesMember
2022-09-30
0001068851
us-gaap:FairValueMeasurementsRecurringMember
pb:ForwardMortgageBackedSecuritiesTradesMember
2022-09-30
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
pb:FinancialInstitutionCounterpartyMember
2022-09-30
0001068851
us-gaap:FairValueMeasurementsRecurringMember
pb:FinancialInstitutionCounterpartyMember
2022-09-30
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
pb:LoanCustomerCounterpartyMember
2022-09-30
0001068851
us-gaap:FairValueMeasurementsRecurringMember
pb:LoanCustomerCounterpartyMember
2022-09-30
0001068851
us-gaap:CollateralizedMortgageObligationsMember
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2021-12-31
0001068851
us-gaap:CollateralizedMortgageObligationsMember
us-gaap:FairValueMeasurementsRecurringMember
2021-12-31
0001068851
us-gaap:MortgageBackedSecuritiesMember
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2021-12-31
0001068851
us-gaap:MortgageBackedSecuritiesMember
us-gaap:FairValueMeasurementsRecurringMember
2021-12-31
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2021-12-31
0001068851
us-gaap:FairValueMeasurementsRecurringMember
2021-12-31
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:InterestRateLockCommitmentsMember
2021-12-31
0001068851
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:InterestRateLockCommitmentsMember
2021-12-31
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
pb:ForwardMortgageBackedSecuritiesTradesMember
2021-12-31
0001068851
us-gaap:FairValueMeasurementsRecurringMember
pb:ForwardMortgageBackedSecuritiesTradesMember
2021-12-31
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
pb:LoanCustomerCounterpartyMember
2021-12-31
0001068851
us-gaap:FairValueMeasurementsRecurringMember
pb:LoanCustomerCounterpartyMember
2021-12-31
0001068851
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
pb:FinancialInstitutionCounterpartyMember
2021-12-31
0001068851
us-gaap:FairValueMeasurementsRecurringMember
pb:FinancialInstitutionCounterpartyMember
2021-12-31
0001068851
us-gaap:CarryingReportedAmountFairValueDisclosureMember
2022-09-30
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel1Member
2022-09-30
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
2022-09-30
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel2Member
2022-09-30
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel3Member
2022-09-30
0001068851
us-gaap:CarryingReportedAmountFairValueDisclosureMember
pb:WarehousePurchaseProgramLoansMember
2022-09-30
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel2Member
pb:WarehousePurchaseProgramLoansMember
2022-09-30
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
pb:WarehousePurchaseProgramLoansMember
2022-09-30
0001068851
us-gaap:CarryingReportedAmountFairValueDisclosureMember
2021-12-31
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel1Member
2021-12-31
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
2021-12-31
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel2Member
2021-12-31
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel3Member
2021-12-31
0001068851
us-gaap:CarryingReportedAmountFairValueDisclosureMember
pb:WarehousePurchaseProgramLoansMember
2021-12-31
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
us-gaap:FairValueInputsLevel2Member
pb:WarehousePurchaseProgramLoansMember
2021-12-31
0001068851
us-gaap:EstimateOfFairValueFairValueDisclosureMember
pb:WarehousePurchaseProgramLoansMember
2021-12-31
0001068851
srt:MinimumMember
2022-01-01
2022-09-30
0001068851
srt:MaximumMember
2022-01-01
2022-09-30
pb:Plan
0001068851
pb:StockIncentive2020PlanMember
2022-09-30
0001068851
pb:StockIncentive2020PlanMember
2022-01-01
2022-09-30
0001068851
pb:StockIncentive2012PlanMember
2012-12-31
0001068851
pb:StockIncentive2012PlanMember
2022-01-01
2022-09-30
0001068851
us-gaap:RestrictedStockMember
2022-07-01
2022-09-30
0001068851
us-gaap:RestrictedStockMember
2021-07-01
2021-09-30
0001068851
us-gaap:RestrictedStockMember
2022-01-01
2022-09-30
0001068851
us-gaap:RestrictedStockMember
2021-01-01
2021-09-30
0001068851
us-gaap:GuaranteeObligationsMember
us-gaap:FederalHomeLoanBankAdvancesMember
2022-09-30
0001068851
srt:MinimumMember
2022-09-30
0001068851
srt:MaximumMember
2022-09-30
pb:SubleaseArrangement
0001068851
us-gaap:GuaranteeObligationsMember
us-gaap:StandbyLettersOfCreditMember
2022-09-30
0001068851
us-gaap:GuaranteeObligationsMember
us-gaap:UnusedLinesOfCreditMember
2022-09-30
0001068851
us-gaap:GuaranteeObligationsMember
us-gaap:CommitmentsToExtendCreditMember
2022-09-30
0001068851
us-gaap:GuaranteeObligationsMember
2022-09-30
0001068851
us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember
2021-12-31
0001068851
us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember
2022-01-01
2022-09-30
0001068851
us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember
2022-09-30
0001068851
us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember
2020-12-31
0001068851
us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember
2021-01-01
2021-09-30
0001068851
us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember
2021-09-30
0001068851
us-gaap:InterestRateLockCommitmentsMember
2022-09-30
0001068851
pb:ForwardMortgageBackedSecuritiesTradesMember
2022-09-30
0001068851
pb:LoanCustomerCounterpartyMember
pb:CommercialLoanInterestRateSwapAndCapMember
2022-09-30
0001068851
pb:FinancialInstitutionCounterpartyMember
pb:CommercialLoanInterestRateSwapAndCapMember
2022-09-30
0001068851
us-gaap:InterestRateLockCommitmentsMember
2021-12-31
0001068851
pb:ForwardMortgageBackedSecuritiesTradesMember
2021-12-31
0001068851
pb:LoanCustomerCounterpartyMember
pb:CommercialLoanInterestRateSwapAndCapMember
2021-12-31
0001068851
pb:FinancialInstitutionCounterpartyMember
pb:CommercialLoanInterestRateSwapAndCapMember
2021-12-31
0001068851
us-gaap:InterestRateSwapMember
2022-09-30
0001068851
us-gaap:InterestRateSwapMember
2021-12-31
0001068851
us-gaap:InterestRateSwapMember
pb:FinancialInstitutionCounterpartyMember
2022-09-30
0001068851
us-gaap:InterestRateLockCommitmentsMember
2022-07-01
2022-09-30
0001068851
us-gaap:InterestRateLockCommitmentsMember
2021-07-01
2021-09-30
0001068851
us-gaap:InterestRateLockCommitmentsMember
2022-01-01
2022-09-30
0001068851
us-gaap:InterestRateLockCommitmentsMember
2021-01-01
2021-09-30
0001068851
pb:ForwardMortgageBackedSecuritiesTradesMember
2022-07-01
2022-09-30
0001068851
pb:ForwardMortgageBackedSecuritiesTradesMember
2021-07-01
2021-09-30
0001068851
pb:ForwardMortgageBackedSecuritiesTradesMember
2022-01-01
2022-09-30
0001068851
pb:ForwardMortgageBackedSecuritiesTradesMember
2021-01-01
2021-09-30
pb:Office
0001068851
pb:FirstBancsharesOfTexasIncMember
pb:WestNorthAndCentralTexasMember
us-gaap:SubsequentEventMember
2022-10-11
2022-10-11
0001068851
pb:FirstBancsharesOfTexasIncMember
2022-06-30
0001068851
pb:FirstBancsharesOfTexasIncMember
us-gaap:SubsequentEventMember
2022-10-11
2022-10-11
0001068851
pb:FirstBancsharesOfTexasIncMember
us-gaap:SubsequentEventMember
2022-10-07
0001068851
pb:LoneStarStateBancsharesIncMember
pb:WestTexasMember
us-gaap:SubsequentEventMember
2022-10-11
2022-10-11
0001068851
pb:LoneStarStateBancsharesIncMember
2022-06-30
0001068851
pb:LoneStarStateBancsharesIncMember
us-gaap:SubsequentEventMember
2022-10-11
2022-10-11
0001068851
pb:LoneStarStateBancsharesIncMember
us-gaap:SubsequentEventMember
2022-10-07
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
FOR THE QUARTERLY PERIOD ENDED September 30, 2022
OR
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER: 001-35388
PROSPERITY BANCSHARES, INC.®
(Exact name of registrant as specified in its charter)
Texas |
74-2331986 |
(State or other jurisdiction
of incorporation or organization) |
(I.R.S. Employer
Identification No.) |
Prosperity Bank Plaza |
|
4295 San Felipe, Houston, Texas |
77027 |
(Address of principal executive offices) |
(Zip Code) |
(281) 269-7199
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common stock, par value $1.00 per share |
|
PB |
|
New York Stock Exchange, Inc. |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
Large Accelerated Filer |
☒ |
|
Accelerated Filer |
☐ |
|
|
|
|
|
Non-accelerated Filer |
☐ |
|
Smaller Reporting Company |
☐ |
|
|
|
|
|
|
|
|
Emerging Growth Company |
☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of October 31, 2022, there were 91,308,546 outstanding shares of the registrant’s Common Stock, par value $1.00 per share.
PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES
INDEX TO FORM 10-Q
2
PART I—FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
|
|
September 30, |
|
|
December 31, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(unaudited) |
|
|
|
|
|
|
|
(Dollars in thousands, except par value) |
|
ASSETS |
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
602,152 |
|
|
$ |
2,547,739 |
|
Federal funds sold |
|
|
244 |
|
|
|
241 |
|
Total cash and cash equivalents |
|
|
602,396 |
|
|
|
2,547,980 |
|
Available for sale securities, at fair value |
|
|
491,230 |
|
|
|
514,932 |
|
Held to maturity securities, at cost (fair value of $12,653,210 and $12,251,213, respectively) |
|
|
14,315,257 |
|
|
|
12,303,969 |
|
|
Total securities |
|
|
14,806,487 |
|
|
|
12,818,901 |
|
Loans held for sale |
|
|
2,871 |
|
|
|
7,274 |
|
Loans held for investment |
|
|
17,580,653 |
|
|
|
16,833,171 |
|
Loans held for investment - Warehouse Purchase Program |
|
|
922,764 |
|
|
|
1,775,699 |
|
Total loans |
|
|
18,506,288 |
|
|
|
18,616,144 |
|
Less: allowance for credit losses on loans |
|
|
(282,179 |
) |
|
|
(286,380 |
) |
Loans, net |
|
|
18,224,109 |
|
|
|
18,329,764 |
|
Accrued interest receivable |
|
|
81,358 |
|
|
|
66,030 |
|
Goodwill |
|
|
3,231,636 |
|
|
|
3,231,636 |
|
Core deposit intangibles, net |
|
|
53,906 |
|
|
|
61,684 |
|
Bank premises and equipment, net |
|
|
337,099 |
|
|
|
319,799 |
|
Other real estate owned |
|
|
1,758 |
|
|
|
622 |
|
Bank owned life insurance (BOLI) |
|
|
329,342 |
|
|
|
327,149 |
|
Federal Home Loan Bank of Dallas stock |
|
|
78,955 |
|
|
|
8,901 |
|
Other assets |
|
|
96,456 |
|
|
|
121,504 |
|
TOTAL ASSETS |
|
$ |
37,843,502 |
|
|
$ |
37,833,970 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
LIABILITIES: |
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
Noninterest-bearing |
|
$ |
11,154,143 |
|
|
$ |
10,750,034 |
|
Interest-bearing |
|
|
18,145,952 |
|
|
|
20,021,728 |
|
Total deposits |
|
|
29,300,095 |
|
|
|
30,771,762 |
|
Other borrowings |
|
|
1,165,000 |
|
|
|
— |
|
Securities sold under repurchase agreements |
|
|
454,304 |
|
|
|
448,099 |
|
Accrued interest payable |
|
|
2,099 |
|
|
|
1,261 |
|
Allowance for credit losses on off-balance sheet credit exposures |
|
|
29,947 |
|
|
|
29,947 |
|
Other liabilities |
|
|
280,415 |
|
|
|
155,665 |
|
Total liabilities |
|
|
31,231,860 |
|
|
|
31,406,734 |
|
COMMITMENTS AND CONTINGENCIES |
|
|
— |
|
|
|
— |
|
SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
Preferred stock, $1 par value; 20,000,000 shares authorized; none issued or outstanding |
|
|
— |
|
|
|
— |
|
Common stock, $1 par value; 200,000,000 shares authorized; 91,210,296 issued and outstanding at September 30, 2022; 92,170,480 shares issued and outstanding at December 31, 2021 |
|
|
91,211 |
|
|
|
92,171 |
|
Capital surplus |
|
|
3,538,719 |
|
|
|
3,595,023 |
|
Retained earnings |
|
|
2,981,947 |
|
|
|
2,738,233 |
|
Accumulated other comprehensive (loss) income —net unrealized gain on available for sale securities, net of tax (benefit) expense of $(62) and $481, respectively |
|
|
(235 |
) |
|
|
1,809 |
|
Total shareholders’ equity |
|
|
6,611,642 |
|
|
|
6,427,236 |
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
$ |
37,843,502 |
|
|
$ |
37,833,970 |
|
See notes to consolidated financial statements.
3
PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
|
(Dollars in thousands, except per share data) |
|
INTEREST INCOME: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including fees |
|
$ |
210,268 |
|
|
$ |
213,821 |
|
|
$ |
596,063 |
|
|
$ |
663,699 |
|
Securities |
|
|
68,761 |
|
|
|
46,217 |
|
|
|
187,883 |
|
|
|
128,602 |
|
Federal funds sold and other earning assets |
|
|
525 |
|
|
|
302 |
|
|
|
2,297 |
|
|
|
993 |
|
Total interest income |
|
|
279,554 |
|
|
|
260,340 |
|
|
|
786,243 |
|
|
|
793,294 |
|
INTEREST EXPENSE: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
14,669 |
|
|
|
11,578 |
|
|
|
32,064 |
|
|
|
44,228 |
|
Other borrowings |
|
|
3,719 |
|
|
|
— |
|
|
|
4,169 |
|
|
|
— |
|
Securities sold under repurchase agreements |
|
|
487 |
|
|
|
195 |
|
|
|
916 |
|
|
|
518 |
|
Total interest expense |
|
|
18,875 |
|
|
|
11,773 |
|
|
|
37,149 |
|
|
|
44,746 |
|
NET INTEREST INCOME |
|
|
260,679 |
|
|
|
248,567 |
|
|
|
749,094 |
|
|
|
748,548 |
|
PROVISION FOR CREDIT LOSSES |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES |
|
|
260,679 |
|
|
|
248,567 |
|
|
|
749,094 |
|
|
|
748,548 |
|
NONINTEREST INCOME: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonsufficient funds (NSF) fees |
|
|
8,887 |
|
|
|
7,962 |
|
|
|
25,495 |
|
|
|
21,209 |
|
Credit card, debit card and ATM card income |
|
|
8,889 |
|
|
|
8,837 |
|
|
|
25,948 |
|
|
|
25,786 |
|
Service charges on deposit accounts |
|
|
6,222 |
|
|
|
6,115 |
|
|
|
18,798 |
|
|
|
18,155 |
|
Trust income |
|
|
3,174 |
|
|
|
2,467 |
|
|
|
8,752 |
|
|
|
7,580 |
|
Mortgage income |
|
|
340 |
|
|
|
1,396 |
|
|
|
1,297 |
|
|
|
7,617 |
|
Brokerage income |
|
|
940 |
|
|
|
861 |
|
|
|
2,749 |
|
|
|
2,367 |
|
Net gain (loss) on sale or write-down of assets |
|
|
50 |
|
|
|
255 |
|
|
|
1,847 |
|
|
|
(68 |
) |
Other |
|
|
6,186 |
|
|
|
6,752 |
|
|
|
22,518 |
|
|
|
21,563 |
|
Total noninterest income |
|
|
34,688 |
|
|
|
34,645 |
|
|
|
107,404 |
|
|
|
104,209 |
|
NONINTEREST EXPENSE: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
|
|
79,578 |
|
|
|
78,412 |
|
|
|
239,360 |
|
|
|
234,060 |
|
Net occupancy and equipment |
|
|
8,412 |
|
|
|
8,165 |
|
|
|
24,299 |
|
|
|
24,044 |
|
Credit and debit card, data processing and software amortization |
|
|
9,516 |
|
|
|
9,103 |
|
|
|
27,611 |
|
|
|
26,054 |
|
Regulatory assessments and FDIC insurance |
|
|
2,807 |
|
|
|
2,497 |
|
|
|
8,508 |
|
|
|
7,837 |
|
Core deposit intangibles amortization |
|
|
2,577 |
|
|
|
2,878 |
|
|
|
7,778 |
|
|
|
8,696 |
|
Depreciation |
|
|
4,436 |
|
|
|
4,524 |
|
|
|
13,522 |
|
|
|
13,577 |
|
Communications |
|
|
3,374 |
|
|
|
3,013 |
|
|
|
9,499 |
|
|
|
8,894 |
|
Net other real estate (income) expense |
|
|
(15 |
) |
|
|
34 |
|
|
|
(213 |
) |
|
|
(2,250 |
) |
Other |
|
|
11,529 |
|
|
|
11,189 |
|
|
|
34,578 |
|
|
|
33,170 |
|
Total noninterest expense |
|
|
122,214 |
|
|
|
119,815 |
|
|
|
364,942 |
|
|
|
354,082 |
|
INCOME BEFORE INCOME TAXES |
|
|
173,153 |
|
|
|
163,397 |
|
|
|
491,556 |
|
|
|
498,675 |
|
PROVISION FOR INCOME TAXES |
|
|
37,333 |
|
|
|
34,807 |
|
|
|
104,920 |
|
|
|
106,165 |
|
NET INCOME |
|
$ |
135,820 |
|
|
$ |
128,590 |
|
|
$ |
386,636 |
|
|
$ |
392,510 |
|
EARNINGS PER SHARE: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
1.49 |
|
|
$ |
1.39 |
|
|
$ |
4.22 |
|
|
$ |
4.23 |
|
Diluted |
|
$ |
1.49 |
|
|
$ |
1.39 |
|
|
$ |
4.22 |
|
|
$ |
4.23 |
|
See notes to consolidated financial statements.
4
PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
|
(Dollars in thousands) |
|
Net income |
|
$ |
135,820 |
|
|
$ |
128,590 |
|
|
$ |
386,636 |
|
|
$ |
392,510 |
|
Other comprehensive (loss) income, before tax: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities available for sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in unrealized (losses) gains during the period |
|
|
(1,813 |
) |
|
|
1,089 |
|
|
|
(2,587 |
) |
|
|
1,509 |
|
Total other comprehensive (loss) income |
|
|
(1,813 |
) |
|
|
1,089 |
|
|
|
(2,587 |
) |
|
|
1,509 |
|
Deferred tax benefit (expense) related to other comprehensive (loss) income |
|
|
380 |
|
|
|
(229 |
) |
|
|
543 |
|
|
|
(317 |
) |
Other comprehensive (loss) income, net of tax |
|
|
(1,433 |
) |
|
|
860 |
|
|
|
(2,044 |
) |
|
|
1,192 |
|
Comprehensive income |
|
$ |
134,387 |
|
|
$ |
129,450 |
|
|
$ |
384,592 |
|
|
$ |
393,702 |
|
See notes to consolidated financial statements.
5
PROSPERITY BANCSHARES, INC.® AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(UNAUDITED)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other |
|
|
Total |
|
|
|
Common Stock |
|
|
Capital |
|
|
Retained |
|
|
Comprehensive |
|
|
Shareholders’ |
|
|
|
Shares |
|
|
Amount |
|
|
Surplus |
|
|
Earnings |
|
|
Income (Loss) |
|
|
Equity |
|
|
|
(In thousands, except share and per share data) |
|
Three Months Ended |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE AT JUNE 30, 2022 |
|
|
91,195,646 |
|
|
$ |
91,196 |
|
|
$ |
3,535,877 |
|
|
$ |
2,893,556 |
|
|
$ |
1,198 |
|
|
$ |
6,521,827 |
|
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
135,820 |
|
|
|
|
|
|
|
135,820 |
|
Other comprehensive loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,433 |
) |
|
|
(1,433 |
) |
Common stock issued in connection with the issuance of restricted stock awards, net |
|
|
14,650 |
|
|
|
15 |
|
|
|
(15 |
) |
|
|
|
|
|
|
|
|
|
|
— |
|
Common stock repurchase |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
— |
|
Stock based compensation expense |
|
|
|
|
|
|
|
|
|
|
2,857 |
|
|
|
|
|
|
|
|
|
|
|
2,857 |
|
Cash dividends declared, $0.52 per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(47,429 |
) |
|
|
|
|
|
|
(47,429 |
) |
BALANCE AT SEPTEMBER 30, 2022 |
|
|
91,210,296 |
|
|
$ |
91,211 |
|
|
$ |
3,538,719 |
|
|
$ |
2,981,947 |
|
|
$ |
(235 |
) |
|
$ |
6,611,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|