Form 8-K

8-K — PROSPERITY BANCSHARES INC

Accession: 0001193125-26-435040

Filed: 2026-10-28

Period: 2026-10-28

CIK: 0001068851

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — pb-20261028.htm (Primary)

EX-99.1 (pb-ex99_1.htm)

GRAPHIC (img98618419_0.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: pb-20261028.htm · Sequence: 1

8-K

0001068851false00010688512026-10-282026-10-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 28, 2026

PROSPERITY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Texas

001-35388

74-2331986

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

4295 San Felipe

Houston, Texas 77027

(Address of principal executive offices including zip code)

Registrant's telephone number, including area code: (281) 269-7199

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 28, 2026, Prosperity Bancshares, Inc. publicly disseminated a press release announcing its financial results for the third quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

As provided in General Instruction B.2 to Form 8-K, the information furnished in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits. The following is furnished as an exhibit to this Current Report on Form 8-K:

Exhibit

Number

Description of Exhibit

99.1

Press Release issued by Prosperity Bancshares, Inc. dated October 28, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PROSPERITY BANCSHARES, INC.

(Registrant)

Dated: October 28, 2026

By:

/s/ Charlotte M. Rasche

Charlotte M. Rasche

Executive Vice President and General Counsel

EX-99.1

EX-99.1

Filename: pb-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

c

PRESS RELEASE

For more information contact:

Prosperity Bancshares, Inc.®

Cullen Zalman

Prosperity Bank Plaza

SEVP – Banking and Corporate Activities

4295 San Felipe

281.269.7199

Houston, Texas 77027

cullen.zalman@prosperitybankusa.com

FOR IMMEDIATE RELEASE

PROSPERITY BANCSHARES, INC.®

REPORTS THIRD QUARTER

2026 EARNINGS

•

Completed the merger of Stellar Bancorp, Inc. into Prosperity Bancshares on July 1, 2026

•

Board approved increase in dividend of 6.67%, or $0.04, to $0.64 per share for fourth quarter 2026, representing the 23rd consecutive annual dividend increase, with a compound annual growth rate of 10.4%

•

Third quarter net interest margin increased 26 basis points to 3.73% compared to second quarter 2026 and 49 basis points compared to third quarter 2025

•

Net income of $141.5 million and diluted earnings per share of $1.18 for third quarter 2026

•

Net income of $200.8 million(1) and diluted earnings per share of $1.67(1) excluding merger related expenses and other non-recurring items for third quarter 2026

•

Loans increased $7.03 billion or 28.1% and deposits increased $8.63 billion or 26.5% during third quarter 2026

•

Noninterest-bearing deposits of $13.8 billion, representing 33.6% of total deposits

•

Allowance for credit losses on loans and on off-balance sheet credit exposure of $629.6 million and allowance for credit losses on loans to total loans, excluding Warehouse Purchase Program loans, of 1.91%(1)

•

Nonperforming assets remain low at 0.41% of third quarter average interest-earning assets

•

Repurchased 457 thousand shares of common stock during third quarter 2026, and 1.5 million shares during 2026

HOUSTON, October 28, 2026. Prosperity Bancshares, Inc.® (NYSE: PB) (“Prosperity Bancshares”), the parent company of Prosperity Bank® (collectively, “Prosperity”), reported net income of $141.5 million for the quarter ended September 30, 2026, compared with $137.6 million for the same period in 2025. Net income per diluted common share was $1.18 for the quarter ended September 30, 2026, compared with $1.45 for the same period in 2025. On January 1, 2026, American Bank Holding Corporation (“American”) merged into Prosperity Bancshares, and American Bank, N.A. (“American Bank”) merged into Prosperity Bank (collectively, the “American Merger”). On February 1, 2026, Southwest Bancshares, Inc. (“Southwest”) merged into Prosperity Bancshares, and Texas Partners Bank (“Texas Partners”) merged into Prosperity Bank (collectively, the “Southwest Merger”). On July 1, 2026, Stellar Bancorp, Inc. (“Stellar”) merged into Prosperity Bancshares, and Stellar Bank (“Stellar Bank”) merged into Prosperity Bank (collectively, the “Stellar Merger”, and together with the American Merger and the Southwest Merger, the “Mergers”). During the third quarter of 2026, Prosperity incurred merger related expenses of $69.7 million, or $0.46(1) per diluted common share and an out of state tax settlement of $5.0 million, or $0.04(1) per diluted common share, partially offset by a gain of $927 thousand, or $0.01(1) per diluted common share as a result of the exchange and conversion of Visa Inc. (“Visa”) Class B-2 stock. Excluding the merger related expenses, net of tax, the tax settlement, and the net gain, net of tax, net income was $200.8(1) million and net income per diluted common share was $1.67(1) for the third quarter of 2026. The annualized return on third quarter average assets was 1.06%. Nonperforming assets remained low at 0.41% of third quarter average interest-earning assets.

“I am pleased to announce that the Board of Directors approved increasing the fourth quarter 2026 dividend to $0.64 per share from the $0.60 per share that was paid in the prior four quarters, an increase of 6.7%. The increase reflects the continued confidence the Board has in our company and our markets. The compound annual growth rate in dividends declared from 2003 to 2026 was 10.4%.

______________

(1)

Refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

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We continue to share our success with our shareholders through the payment of dividends and opportunistic stock repurchases, while also continuing to grow our capital,” said David Zalman, Prosperity’s Senior Chairman and Chief Executive Officer.

“We are extremely proud of this year’s growth and would like to highlight the following results. Prosperity had $54.1 billion in total assets at September 30, 2026, an increase of $15.8 billion or 41.1% compared with $38.3 billion at September 30, 2025. Loans were $32.1 billion at September 30, 2026, an increase of $10.0 billion or 45.5% compared with $22.0 billion at September 30, 2025, and deposits were $41.2 billion at September 30, 2026, an increase of $13.4 billion or 48.4% compared with $27.8 billion at September 30, 2025,” stated Zalman.

“These increases primarily reflect our three recent mergers. We are highlighting their magnitude because they demonstrate the expertise of our associates, who have extensive experience executing acquisitions and integrating the acquired institutions. Our greater scale strengthens our competitiveness, improves efficiency, and enables technology investments that would be difficult for a smaller bank,” continued Zalman.

“We remain focused on completing the operational integration of Texas Partners Bank and Stellar Bank and delivering the outcomes we believe are possible. We are extremely excited about our future as a larger bank, including the potential growth in earnings,” added Zalman.

“The Texas and Oklahoma economies continue to expand in late 2026 despite labor supply constraints and headwinds from inflation and energy prices. Texas has a growing population of 31.7 million and continues to attract people and businesses with its business-friendly state government and lack of a state income tax. Major construction projects across Texas include new data centers, factories producing various products from chips to new drugs, and SpaceX and Tesla projects. Both states remain attractive places to live and do business,” stated Zalman.

“I want to thank our customers, associates, directors and shareholders for their hard work, loyalty and support, which have been essential to our success. Our strong fundamentals and resolve position us to continue building this great bank,” concluded Zalman.

Results of Operations for the Three Months Ended September 30, 2026

For the three months ended September 30, 2026, net income was $141.5 million(2) or $1.18 per diluted common share compared with $137.6 million(3) or $1.45 per diluted common share for the same period in 2025. Net income and net income per diluted common share for the third quarter of 2026 were primarily impacted by an increase in net interest income due to the Mergers, partially offset by an increase in merger related expenses, an increase in noninterest expenses related to the Mergers and an increase in provision for income taxes due to an increase in nondeductible merger related expenses and an out of state tax settlement. The $5.0 million tax settlement resulted in a higher than normal effective tax rate of 24.4%. On a linked quarter basis, net income was $141.5 million(2) or $1.18 per diluted common share for the three months ended September 30, 2026, compared with $168.6 million(4) or $1.67 for the three months ended June 30, 2026. Annualized returns on average assets, average common equity and average tangible common equity for the three months ended September 30, 2026, were 1.06%, 5.77% and 11.14%(1), respectively.

Excluding the merger related expenses, net of tax, the out of state tax settlement, and the gain on the Visa Class B-2 stock exchange, net of tax, net income was $200.8(1) million and earnings per diluted common share was $1.67(1) for the three months ended September 30, 2026, and annualized returns on average assets, average common equity and average tangible common equity were 1.50%(1), 8.19%(1) and 15.81%(1), respectively. Prosperity’s efficiency ratio (excluding net gains and losses on the sale, write-down or write-up of assets and securities) was 62.05%(1) for the three months ended September 30, 2026, and excluding merger related expenses, the efficiency ratio was 48.03%(1).

Net interest income before provision for credit losses was $443.0 million for the three months ended September 30, 2026, compared with $273.4 million for the same period in 2025, an increase of $169.5 million or 62.0%. The net interest margin on a tax equivalent basis was 3.73% for the three months ended September 30, 2026, compared with 3.24% for the same period in 2025. The changes to both measures were primarily due to the impact of the Mergers, the repricing of assets, and a decrease in the average balance and

______________

(2)

Includes purchase accounting adjustments of $13.1 million, net of tax, primarily comprised of loan discount accretion of $11.6 million, and merger related expenses of $69.7 million for the three months ended September 30, 2026.

(3)

Includes purchase accounting adjustments of $2.6 million, net of tax, primarily comprised of loan discount accretion of $2.9 million for the three months ended September 30, 2025.

(4)

Includes purchase accounting adjustments of $4.6 million, net of tax, primarily comprised of loan discount accretion of $4.0 million, and net gain on sale or write-up of securities of $8.2 million for the three months ended June 30, 2026.

(5)

Includes purchase accounting adjustments of $22.4 million, net of tax, primarily comprised of loan discount accretion of $19.4 million, merger related expenses of $113.0 million and net gain on sale or write-up of securities of $9.2 million for the nine months ended September 30, 2026.

(6)

Includes purchase accounting adjustments of $8.5 million, net of tax, primarily comprised of loan discount accretion of $9.3 million for the nine months ended September 30, 2025.

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average rate on other borrowings. Net interest income before provision for credit losses increased $112.4 million or 34.0% to $443.0 million for the three months ended September 30, 2026, compared with $330.6 million for the three months ended June 30, 2026. The net interest margin on a tax equivalent basis was 3.73% for the three months ended September 30, 2026, compared with 3.47% for the three months ended June 30, 2026. The increases in both measures were primarily due to the Mergers.

Noninterest income was $52.7 million for the three months ended September 30, 2026, compared with $41.2 million for the same period in 2025, an increase of $11.5 million or 27.8%. The change was primarily due to the Mergers, partially offset by a net loss on the sale and write-down of assets. Noninterest income was $52.7 million for the three months ended September 30, 2026, compared with $60.7 million for the three months ended June 30, 2026, a decrease of $8.0 million or 13.2%. The change was primarily due to lower net gain on sale or write-up of securities and an increase in net loss on sale or write-down of assets.

Noninterest expense was $308.6 million for the three months ended September 30, 2026, compared with $138.6 million for the same period in 2025, an increase of $170.0 million. The change was primarily due to increases in merger related expenses, salaries and benefits and additional expenses related to the Mergers. Noninterest expense was $308.6 million for the three months ended September 30, 2026, compared with $176.2 million for the three months ended June 30, 2026, an increase of $132.4 million, which was primarily due to an increase in merger related expenses and an increase in additional expenses related to three months of Stellar operations.

Results of Operations for the Nine Months Ended September 30, 2026

For the nine months ended September 30, 2026, net income was $426.3 million(5) compared with $402.9 million(6) for the same period in 2025, an increase of $23.4 million or 5.8%. Net income per diluted common share was $3.99 for the nine months ended September 30, 2026, compared with $4.23 for the same period in 2025. Net income and net income per diluted common share for the nine months ended September 30, 2026, were impacted by the Mergers, merger related expenses of $113.0 million, a gain on the Visa Class B-2 stock exchange net of investment securities sales of $9.2 million and an increase in provision for income taxes due to an increase in nondeductible merger related expenses and an out of state tax settlement. Returns on average assets, average common equity and average tangible common equity for the nine months ended September 30, 2026, were 1.22%, 6.49% and 12.33%(1), respectively.

Excluding the merger related expenses, net of tax, the out of state tax settlement, and gain on the Visa Class B-2 stock exchange net of investment securities sales, net of tax, net income was $513.3(1) million and earnings per diluted common share was $4.81(1) for the nine months ended September 30, 2026, and annualized returns on average assets, average common equity and average tangible common equity were 1.47%(1), 7.82(1) and 14.84(1), respectively. Prosperity’s efficiency ratio (excluding net gains and losses on the sale or write-down of assets and securities) was 56.27%(1) for the nine months ended September 30, 2026; and excluding merger related expenses, the efficiency ratio was 47.21%(1).

Net interest income before provision for credit losses for the nine months ended September 30, 2026, was $1.095 billion compared with $806.5 million for the same period in 2025, an increase of $288.1 million or 35.7%. The net interest margin on a tax equivalent basis for the nine months ended September 30, 2026, was 3.58% compared with 3.19% for the same period in 2025. The changes to both measures were primarily due to the repricing of assets, the impact of the Mergers and a decrease in the average balance and average rate on other borrowings.

Noninterest income was $159.9 million for the nine months ended September 30, 2026, compared with $125.5 million for the same period in 2025, an increase of $34.4 million or 27.4%, primarily due to the Mergers and a gain on Visa Class B-2 stock exchange net of investment securities sales of $9.2 million.

Noninterest expense was $702.1 million for the nine months ended September 30, 2026, compared with $417.5 million for the same period in 2025, an increase of $284.6 million, primarily due to an increase in merger related expenses of $113.0 million, an increase in salaries and benefits and an increase in additional expenses related to nine months of American operations, eight months of Southwest operations and three months of Stellar operations.

Balance Sheet Information

Prosperity had $54.101 billion in total assets at September 30, 2026, an increase of $15.771 billion or 41.1%, compared with $38.330 billion at September 30, 2025, primarily due to the Mergers. Linked quarter total assets increased by $10.229 billion or 23.3% compared with $43.873 billion at June 30, 2026, primarily due to the Stellar Merger.

Loans were $32.060 billion at September 30, 2026, an increase of $10.033 billion or 45.5% from $22.028 billion at September 30, 2025, primarily due to the Mergers. Linked quarter loans increased $7.032 billion or 28.1% from $25.028 billion at June 30, 2026, primarily due to the Stellar Merger. Loans, excluding Warehouse Purchase Program loans, were $30.929 billion at September 30,

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2026, compared with $20.750 billion at September 30, 2025, an increase of $10.179 billion or 49.1%, and compared with $23.738 billion at June 30, 2026, an increase of $7.191 billion or 30.3%.

Deposits were $41.231 billion at September 30, 2026, an increase of $13.449 billion or 48.4% from $27.782 billion at September 30, 2025, primarily due to the Mergers. Linked quarter deposits increased $8.631 billion or 26.5% from $32.600 billion at June 30, 2026, primarily due to the Stellar Merger.

Asset Quality

Nonperforming assets totaled $193.9 million or 0.41% of quarterly average interest-earning assets at September 30, 2026, compared with $119.6 million or 0.36% of quarterly average interest-earning assets at September 30, 2025 and $130.6 million or 0.34% of quarterly average interest-earning assets at June 30, 2026. The amounts at September 30, 2026 and June 30, 2026 were impacted by nonperforming assets acquired in the Mergers.

The allowance for credit losses on loans and off-balance sheet credit exposures was $629.6 million at September 30, 2026, compared with $377.3 million at September 30, 2025, and $420.5 million at June 30, 2026. There was no provision for credit losses for the three months and nine months ended September 30, 2026 and 2025.

The allowance for credit losses on loans was $592.0 million or 1.85% of total loans at September 30, 2026, compared with $339.6 million or 1.54% of total loans at September 30, 2025, and $382.8 million or 1.53% of total loans at June 30, 2026. The allowance for credit losses on loans increased during the nine months ended September 30, 2026 due to the Mergers, of which $47.5 million was attributable to the American Merger, $45.1 million was attributable to the Southwest Merger, and $213.5 million was attributable to the Stellar Merger. Excluding Warehouse Purchase Program loans, the allowance for credit losses on loans to total loans was 1.91%(1) at September 30, 2026, compared with 1.64%(1) at September 30, 2025, and 1.61%(1) at June 30, 2026.

Net charge-offs were $4.4 million for the three months ended September 30, 2026, compared with net charge-offs of $6.5 million for the three months ended September 30, 2025, and $2.2 million for the three months ended June 30, 2026. Net charge-offs for the three months ended September 30, 2026, included $1.7 million related to resolved purchased credit deteriorated (“PCD”) loans, which had specific reserves that were allocated to the charge-offs. Additionally, due to the Stellar Merger, reserves increased by Day One accounting for PCD loans of $146.1 million and Day One accounting for purchased seasoned loans (“PSLs”) of $67.4 million. For the three months ended September 30, 2026, $7.6 million of reserves on resolved PCD loans without any related charge-offs were released to the general reserve.

Net charge-offs were $47.9 million for the nine months ended September 30, 2026, compared with net charge-offs of $12.2 million for the nine months ended September 30, 2025. Net charge-offs for the nine months ended September 30, 2026, included a $37.7 million increase in net charge-offs for commercial and industrial loans. Additionally, due to the Mergers, reserves increased by Day One accounting for PCD loans of $199.5 million and Day One accounting for PSLs of $106.7 million. Further, $20.1 million of reserves on resolved PCD loans without any related charge-offs were released to the general reserve.

Visa Class B-2 Stock Exchange

During 2026, Prosperity tendered all of its shares of Visa Class B-2 common stock in exchange for a combination of Visa Class B-3 common stock and Visa Class C common stock, pursuant to the terms and subject to the conditions of Visa’s public exchange offer, which expired on May 8, 2026. During the nine months ended September 30, 2026, Prosperity recorded a gain of $13.2 million based on the conversion privilege of the Class C common stock, the closing price of Visa Class A common stock and the subsequent sale. In the exchange, Prosperity received 24,246 shares of Class B-3 stock, recorded at zero cost basis, and 9,137 shares of Class C common stock and has subsequently sold all shares of Class C stock.

Dividend

Prosperity Bancshares declared a fourth quarter 2026 cash dividend of $0.64 per share to be paid on January 4, 2027, to all shareholders of record as of December 15, 2026, an increase of $0.04 per share, or 6.67%, from the prior quarter.

Stock Repurchase Program

On January 26, 2026, Prosperity Bancshares announced a stock repurchase program under which up to 5%, or approximately 4.87 million shares, of its outstanding common stock may be acquired over a one-year period expiring on January 26, 2027, at the discretion of management. Under its 2026 stock repurchase program, Prosperity Bancshares repurchased approximately 457 thousand shares of its common stock at an average weighted price of $69.62 per share for a total of $31.8 million during the three months ended

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September 30, 2026, and approximately 1.5 million shares of its common stock at an average weighted price of $68.63 per share for a total of $102.6 million during the nine months ended September 30, 2026.

Acquisition of Stellar Bancorp, Inc.

On July 1, 2026, Prosperity Bancshares completed the acquisition of Stellar and its wholly owned subsidiary Stellar Bank, headquartered in Houston, Texas. Stellar Bank operated 52 banking offices including its main office in Houston and banking offices in the Houston, Beaumont and East Texas areas and in Dallas, Texas. As of June 30, 2026, Stellar, on a consolidated basis, reported total assets of $10.413 billion, total loans of $7.510 billion and total deposits of $8.716 billion.

Pursuant to the terms of the definitive agreement, Prosperity Bancshares issued 19,371,499 shares of its common stock and paid approximately $578.66 million in cash for all outstanding shares of Stellar common stock. This resulted in goodwill of $898.2 million as of September 30, 2026, which does not include all the subsequent fair value adjustments that have not yet been finalized. Additionally, Prosperity recognized $184.0 million of core deposit intangibles as of September 30, 2026.

Acquisition of Southwest Bancshares, Inc.

On February 1, 2026, Prosperity completed the acquisition of Southwest and its wholly owned subsidiary Texas Partners, headquartered in San Antonio, Texas. Texas Partners operated 11 banking offices in Central Texas including its main office in San Antonio, and banking offices in the San Antonio area, Austin and the Hill Country.

Pursuant to the terms of the definitive agreement, Prosperity Bancshares issued 4,094,974 shares of its common stock for all outstanding shares of Southwest common stock. This resulted in goodwill of $141.5 million as of September 30, 2026, which does not include all the subsequent fair value adjustments that have not yet been finalized. Additionally, Prosperity recognized $33.8 million of core deposit intangibles as of September 30, 2026.

Acquisition of American Bank Holding Corporation

On January 1, 2026, Prosperity completed the acquisition of American and its wholly owned subsidiary American Bank, headquartered in Corpus Christi, Texas. American Bank operated 18 banking offices and two loan production offices in South and Central Texas including its main office in Corpus Christi, and banking offices in San Antonio, Austin, Victoria and the greater Corpus Christi area including Port Aransas and Rockport and a loan production office in Houston, Texas.

Pursuant to the terms of the definitive agreement, Prosperity Bancshares issued 4,439,938 shares of its common stock for all outstanding shares of American common stock. This resulted in goodwill of $185.7 million as of September 30, 2026, which does not include all the subsequent fair value adjustments that have not yet been finalized. Additionally, Prosperity recognized $31.1 million of core deposit intangibles as of September 30, 2026. During the third quarter of 2026, Prosperity completed the operational integration of American Bank.

Conference Call

Prosperity’s management team will host a conference call on Wednesday, October 28, 2026, at 11:30 a.m. Eastern Time (10:30 a.m. Central Time) to discuss Prosperity’s third quarter 2026 earnings. Individuals and investment professionals may participate in the call by dialing 877-883-0383 for domestic participants, or 412-902-6506 for international participants. The participant elite entry number is 0372441.

Alternatively, individuals may listen to the live webcast of the presentation by visiting Prosperity’s website at www.prosperitybankusa.com. The webcast may be accessed from Prosperity’s Investor Relations page by selecting “Presentations, Webcasts & Calls” from the menu and following the instructions.

Non-GAAP Financial Measures

Prosperity’s management uses certain non-GAAP financial measures to evaluate its performance. Specifically, for internal planning and forecasting purposes, Prosperity reviews each of diluted earnings per share, return on average assets, return on average common equity, and return on average tangible common equity, in each case excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on the sale or write-up of securities, net of tax, and the out of state tax settlement; return on average tangible common equity; tangible book value per share; the tangible equity to tangible assets ratio; allowance for credit losses to total loans excluding Warehouse Purchase Program loans; the efficiency ratio, excluding net gains and losses on the sale and securities, write-down or write-up of assets; and the efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets and securities, merger related expenses, and FDIC special assessment. Prosperity believes these non-GAAP financial measures

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provide information useful to investors in understanding Prosperity’s financial results and their presentation, together with the accompanying reconciliations, provide a more complete understanding of factors and trends affecting Prosperity’s business and allow investors to view performance in a manner similar to management, the entire financial services sector, bank stock analysts and bank regulators. Further, Prosperity believes that these non-GAAP financial measures provide useful information by excluding certain items that may not be indicative of its core operating earnings and business outlook. These non-GAAP financial measures should not be considered a substitute for, nor of greater importance than, GAAP basis financial measures and results; Prosperity strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Please refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of these non-GAAP financial measures to the nearest respective GAAP financial measures.

Prosperity Bancshares, Inc. ®

As of September 30, 2026, Prosperity Bancshares, Inc.® is a $54.101 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 352 full-service banking locations: 62 in the Houston area, including The Woodlands; 40 in the South Texas area including Corpus Christi and Victoria; 60 in the Dallas/Fort Worth area; 20 in the East Texas area; 26 in the Central Texas area including Austin; 7 in the San Antonio area; 45 in the West Texas area including Lubbock, Midland, Odessa, Abilene; Amarillo and Wichita Falls; 15 in the Bryan/College Station area, 6 in the Central Oklahoma area; 8 in the Tulsa, Oklahoma area; 11 in the Central Texas area and San Antonio area doing business as Texas Partners Bank; and 52 in the Houston and Dallas areas doing business as Stellar Bank.

Cautionary Notes on Forward-Looking Statements

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release contains, and the remarks by Prosperity’s management on the conference call may contain, forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, oral or written forward-looking statements may also be included in other information released to the public. Such forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “is anticipated,” “is expected,” “is intended,” “objective,” “plan,” “projected,” “projection,” “will affect,” “will be,” “will continue,” “will decrease,” “will grow,” “will impact,” “will increase,” “will incur,” “will reduce,” “will remain,” “will result,” “would be,” variations of such words or phrases (including where the word “could,” “may,” or “would” is used rather than the word “will” in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries. These forward-looking statements may include information about Prosperity’s possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for credit losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity’s future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity’s loan portfolio and allowance for credit losses, changes in deposits, borrowings and the investment securities portfolio, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity’s future operations, future or proposed acquisitions, the future or expected effect of acquisitions on Prosperity’s operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of any proposed transactions, and statements about the assumptions underlying any such statement. These forward‑looking statements are not guarantees of future performance and are based on expectations and assumptions Prosperity currently believes to be valid. Because forward-looking statements relate to future results and occurrences, many of which are outside of Prosperity’s control, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. These risks and uncertainties include, but are not limited to, whether Prosperity can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); the possibility that the anticipated benefits of an acquisition transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of two companies or as a result of the strength of the economy and competitive factors generally; a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Prosperity’s securities portfolio; customer and consumer demand, including customer and

Page 6

consumer response to marketing; effectiveness of spending, investments or programs; fluctuations in the cost and availability of supply chain resources; economic conditions, including currency rate, interest rate and commodity price fluctuations; changes in trade policies by the United States or other countries, such as tariffs or retaliatory tariffs; and the effect, impact, potential duration or other implications of weather and climate-related events. Prosperity disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. These and various other factors are discussed in Prosperity’s Annual Report on Form 10-K for the year ended December 31, 2025, and other reports and statements Prosperity has filed with the Securities and Exchange Commission (“SEC”). Copies of the SEC filings for Prosperity may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.

Page 7

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(In thousands)

Sep 30, 2026

Jun 30, 2026

Mar 31, 2026

Dec 31, 2025

Sep 30, 2025

Balance Sheet Data (at period end)

Loans held for sale

$

8,402

$

18,656

$

21,925

$

14,155

$

11,297

Loans held for investment

30,920,119

23,719,186

23,832,909

20,486,415

20,738,294

Loans held for investment - Warehouse Purchase Program

1,131,888

1,290,156

1,433,152

1,304,798

1,278,178

Total loans

32,060,409

25,027,998

25,287,986

21,805,368

22,027,769

Investment securities(A)

13,633,525

12,339,080

11,951,591

10,613,425

10,232,462

Federal funds sold

265

194

209

217

210

Allowance for credit losses on loans

(591,951

)

(382,841

)

(383,840

)

(333,742

)

(339,626

)

Cash and due from banks

2,362,504

1,683,062

1,547,967

1,747,511

1,766,115

Goodwill

4,728,597

3,823,920

3,822,283

3,503,127

3,503,127

Core deposit intangibles, net

276,974

105,582

111,243

51,605

55,194

Other real estate owned

22,784

11,296

13,257

13,296

13,750

Fixed assets, net

516,175

428,478

429,775

383,449

378,776

Other assets

1,091,793

835,742

838,712

679,169

692,692

Total assets

$

54,101,075

$

43,872,511

$

43,619,183

$

38,463,425

$

38,330,469

Noninterest-bearing deposits

$

13,840,814

$

10,739,937

$

10,580,920

$

9,467,911

$

9,522,028

Interest-bearing deposits

27,389,839

21,859,750

22,051,836

19,014,573

18,260,066

Total deposits

41,230,653

32,599,687

32,632,756

28,482,484

27,782,094

Other borrowings

2,400,000

2,400,000

2,200,000

1,950,000

2,400,000

Securities sold under repurchase agreements

204,761

199,576

176,099

201,216

185,797

Subordinated notes and junior subordinated debentures

72,341

70,000

76,186

—

—

Allowance for credit losses on off-balance sheet credit exposures

37,646

37,646

37,646

37,646

37,646

Other liabilities

396,139

260,343

288,645

175,939

259,994

Total liabilities

44,341,540

35,567,252

35,411,332

30,847,285

30,665,531

Shareholders' equity(B)

9,759,535

8,305,259

8,207,851

7,616,140

7,664,938

Total liabilities and equity

$

54,101,075

$

43,872,511

$

43,619,183

$

38,463,425

$

38,330,469

(A) Includes ($3,174), ($319), $44, ($375) and ($1,987) in unrealized losses on available for sale securities for the quarterly periods ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

(B) Includes ($2,491), ($251), $35, ($296) and ($1,570) in after-tax unrealized losses on available for sale securities for the quarterly periods ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

Page 8

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(In thousands)

Three Months Ended

Year-to-Date

Sep 30,

2026

Jun 30,

2026

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Sep 30,

2026

Sep 30,

2025

Income Statement Data

Interest income:

Loans

$

495,564

$

369,574

$

361,756

$

321,516

$

329,445

$

1,226,894

$

973,958

Securities(C)

98,374

81,200

70,531

56,767

58,207

250,105

173,929

Federal funds sold and other earning assets

13,389

8,719

9,488

8,364

10,455

31,596

35,789

Total interest income

607,327

459,493

441,775

386,647

398,107

1,508,595

1,183,676

Interest expense:

Deposits

144,414

107,084

104,237

94,625

95,965

355,735

285,352

Other borrowings

17,914

20,094

14,783

16,028

27,613

52,791

88,206

Securities sold under repurchase agreements

1,080

1,019

902

1,041

1,094

3,001

3,579

Subordinated notes and junior subordinated debentures

939

746

703

—

—

2,388

—

Total interest expense

164,347

128,943

120,625

111,694

124,672

413,915

377,137

Net interest income

442,980

330,550

321,150

274,953

273,435

1,094,680

806,539

Provision for credit losses

—

—

—

—

—

—

—

Net interest income after provision for credit losses

442,980

330,550

321,150

274,953

273,435

1,094,680

806,539

Noninterest income:

Nonsufficient funds (NSF) fees

11,839

11,349

10,867

9,715

9,805

34,055

27,837

Credit card, debit card and ATM card income

11,173

10,303

9,483

9,462

9,446

30,959

27,946

Service charges on deposit accounts

10,728

9,235

8,680

7,618

7,317

28,643

22,370

Trust income

5,274

4,943

4,922

3,662

3,526

15,139

10,986

Mortgage income

989

1,363

1,280

954

931

3,632

2,905

Brokerage income

1,673

1,478

1,568

1,570

1,328

4,719

3,815

Bank owned life insurance income

3,258

2,476

2,598

2,117

2,111

8,332

6,211

Net (loss) gain on sale or write-down of assets

(2,578

)

(42

)

318

35

3

(2,302

)

1,182

Net gain on sale or write-up of securities

927

8,235

—

—

—

9,162

—

Other noninterest income

9,437

11,365

6,758

7,647

6,771

27,560

22,269

Total noninterest income

52,720

60,705

46,474

42,780

41,238

159,899

125,521

Noninterest expense:

Salaries and benefits

145,599

110,965

109,211

88,384

87,949

365,775

264,721

Net occupancy and equipment

14,577

10,685

10,654

9,379

9,395

35,916

27,709

Credit and debit card, data processing and software amortization

23,992

16,121

18,114

12,621

12,515

58,227

35,993

Regulatory assessments and FDIC insurance

7,456

5,287

6,041

1,600

5,198

18,784

16,495

Core deposit intangibles amortization

12,601

5,661

5,259

3,588

3,602

23,521

10,853

Depreciation

6,992

5,795

5,548

5,155

4,966

18,335

14,519

Communications

4,835

4,271

3,834

3,528

3,480

12,940

10,460

Other real estate expense

583

350

341

219

314

1,274

658

Net loss (gain) on sale or write-down of other real estate

147

(41

)

(41

)

109

(81

)

65

(333

)

Merger related expenses

69,744

755

42,516

268

62

113,015

62

Other noninterest expense

22,087

16,327

15,810

13,861

11,235

54,224

36,364

Total noninterest expense

308,613

176,176

217,287

138,712

138,635

702,076

417,501

Income before income taxes

187,087

215,079

150,337

179,021

176,038

552,503

514,559

Provision for income taxes

45,625

46,496

34,070

39,114

38,482

126,191

111,623

Net income available to common shareholders

$

141,462

$

168,583

$

116,267

$

139,907

$

137,556

$

426,312

$

402,936

(C) Interest income on securities was reduced by net premium amortization of $933, $3,790, $3,829, $4,668, and $2,877 for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively, and $8,552 and $12,830 for the nine months ended September 30, 2026, and 2025, respectively.

Page 9

Prosperity Bancshares, Inc. ®

Financial Highlights (Unaudited)

(Dollars and share amounts in thousands, except per share data and market prices)

Three Months Ended

Year-to-Date

Sep 30,

2026

Jun 30,

2026

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Sep 30,

2026

Sep 30,

2025

Profitability

Net income (D) (E)

$

141,462

$

168,583

$

116,267

$

139,907

$

137,556

$

426,312

$

402,936

Basic earnings per share

$

1.18

$

1.67

$

1.16

$

1.49

$

1.45

$

3.99

$

4.23

Diluted earnings per share

$

1.18

$

1.67

$

1.16

$

1.49

$

1.45

$

3.99

$

4.23

Return on average assets (F) (J)

1.06

%

1.55

%

1.10

%

1.49

%

1.44

%

1.22

%

1.40

%

Return on average common equity (F) (J)

5.77

%

8.14

%

5.70

%

7.30

%

7.18

%

6.49

%

7.08

%

Return on average tangible common equity (F) (G) (J)

11.14

%

15.48

%

10.59

%

13.61

%

13.43

%

12.33

%

13.36

%

Tax equivalent net interest margin (D) (E) (H)

3.73

%

3.47

%

3.51

%

3.30

%

3.24

%

3.58

%

3.19

%

Efficiency ratio (G) (I) (K)

62.05

%

45.99

%

59.16

%

43.66

%

44.06

%

56.27

%

44.85

%

Liquidity and Capital Ratios

Equity to assets

18.04

%

18.93

%

18.82

%

19.80

%

20.00

%

18.04

%

20.00

%

Common equity tier 1 capital

13.46

%

15.94

%

15.45

%

17.55

%

17.53

%

13.46

%

17.53

%

Tier 1 risk-based capital

13.46

%

15.94

%

15.45

%

17.55

%

17.53

%

13.46

%

17.53

%

Total risk-based capital

14.80

%

17.38

%

16.63

%

18.80

%

18.78

%

14.80

%

18.78

%

Tier 1 leverage capital

9.85

%

11.12

%

11.22

%

11.93

%

11.90

%

9.85

%

11.90

%

Period end tangible equity to period end tangible assets (G)

9.68

%

10.96

%

10.77

%

11.63

%

11.81

%

9.68

%

11.81

%

Other Data

Weighted-average shares used in computing earnings per common share

Basic

119,899

100,783

99,825

94,044

95,093

106,909

95,211

Diluted

119,899

100,783

99,825

94,044

95,093

106,909

95,211

Period end shares outstanding

119,713

100,646

100,835

93,058

94,993

119,713

94,993

Cash dividends paid per common share

$

0.60

$

0.60

$

0.60

$

0.60

$

0.58

$

1.80

$

1.74

Book value per common share

$

81.52

$

82.52

$

81.40

$

81.84

$

80.69

$

81.52

$

80.69

Tangible book value per common share (G)

$

39.71

$

43.48

$

42.39

$

43.64

$

43.23

$

39.71

$

43.23

Common Stock Market Price

High

$

75.87

$

74.37

$

77.20

$

73.90

$

75.44

$

77.20

$

82.75

Low

$

65.88

$

65.90

$

63.20

$

61.07

$

64.27

$

63.20

$

61.57

Period end closing price

$

66.21

$

73.03

$

67.18

$

69.11

$

66.35

$

66.21

$

66.35

Employees – FTE (excluding overtime)

5,103

4,324

4,429

3,941

3,937

5,103

3,937

Number of banking centers

352

311

312

283

283

352

283

(D) Includes purchase accounting adjustments for the periods presented as follows:

Three Months Ended

Year-to-Date

Sep 30,

2026

Jun 30,

2026

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Sep 30,

2026

Sep 30,

2025

Loan discount accretion

Purchased seasoned loans (“PSLs”)

$4,997

$3,104

$2,562

$2,926

$2,242

$10,663

$7,343

PCD

$6,636

$901

$1,186

$205

$613

$8,723

$1,928

Securities net accretion

$2,306

$1,462

$1,573

$342

$1,475

$5,341

$1,509

Time deposits amortization

$(2,599)

$(357)

$(699)

$(1)

$(1)

$(3,655)

$(12)

(E) Using effective tax rate of 24.4%, 21.6%, 22.7%, 21.8% and 21.9% for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and 22.8% and 21.7% for the nine months ended September 30, 2026, and 2025, respectively.

(F) Interim periods annualized.

(G) Refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

(H) Net interest margin for all periods presented is based on average balances on an actual 365-day basis.

(I) Calculated by dividing total noninterest expense, excluding credit loss provisions, by net interest income plus noninterest income, excluding net gains and losses on the sale, write-down or write-up of assets and securities. Additionally, taxes are not part of this calculation.

(J) For calculations of the annualized returns on average assets, average common equity and average tangible common equity excluding merger related expenses, net of tax, FDIC special assessment, net of tax, and net gain on sale or write-up of securities, net of tax refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

(K) For calculations of the efficiency ratio excluding merger related expenses and FDIC special assessment refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of these non-GAAP financial measures to the nearest respective GAAP financial measures.

Page 10

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

YIELD ANALYSIS

Three Months Ended

Sep 30, 2026

Jun 30, 2026

Sep 30, 2025

Average

Balance

Interest

Earned/

Interest

Paid

Average

Yield/

Rate

(L)

Average

Balance

Interest

Earned/

Interest

Paid

Average

Yield/

Rate

(L)

Average

Balance

Interest

Earned/

Interest

Paid

Average

Yield/

Rate

(L)

Interest-earning assets:

Loans held for sale

$

12,430

$

153

4.88%

$

17,858

$

281

6.31%

$

8,371

$

140

6.64%

Loans held for investment

31,116,337

477,746

6.09%

23,750,036

350,967

5.93%

20,851,896

309,949

5.90%

Loans held for investment - Warehouse Purchase Program

1,229,203

17,665

5.70%

1,316,645

18,326

5.58%

1,217,579

19,356

6.31%

Total loans

32,357,970

495,564

6.08%

25,084,539

369,574

5.91%

22,077,846

329,445

5.92%

Investment securities

13,367,427

98,374

2.92%

(M)

12,258,188

81,200

2.66%

(M)

10,530,807

58,207

2.19%

(M)

Federal funds sold and other earning assets

1,494,076

13,389

3.56%

969,502

8,719

3.61%

934,318

10,455

4.44%

Total interest-earning assets

47,219,473

607,327

5.10%

38,312,229

459,493

4.81%

33,542,971

398,107

4.71%

Allowance for credit losses on loans

(382,299

)

(383,281

)

(343,872

)

Noninterest-earning assets

6,700,502

5,508,187

4,930,764

Total assets

$

53,537,676

$

43,437,135

$

38,129,863

Interest-bearing liabilities:

Interest-bearing demand deposits

$

7,985,346

$

28,277

1.40%

$

6,135,720

$

15,093

0.99%

$

4,656,452

$

8,951

0.76%

Savings and money market deposits

13,589,170

70,673

2.06%

10,928,333

53,661

1.97%

8,977,585

46,934

2.07%

Certificates and other time deposits

5,810,493

45,464

3.10%

4,787,401

38,330

3.21%

4,422,996

40,080

3.60%

Other borrowings

1,904,348

17,914

3.73%

2,174,506

20,094

3.71%

2,480,435

27,613

4.42%

Securities sold under repurchase agreements

204,939

1,080

2.09%

194,250

1,019

2.10%

187,462

1,094

2.32%

Subordinated notes and junior subordinated debentures

81,341

939

4.58%

70,408

746

4.25%

—

—

—

Total interest-bearing liabilities

29,575,637

164,347

2.20%

(N)

24,290,618

128,943

2.13%

(N)

20,724,930

124,672

2.39%

(N)

Noninterest-bearing liabilities:

Noninterest-bearing demand deposits

13,778,100

10,561,142

9,451,153

Allowance for credit losses on off-balance sheet credit exposures

37,646

37,646

37,646

Other liabilities

345,185

259,201

258,156

Total liabilities

43,736,568

35,148,607

30,471,885

Shareholders' equity

9,801,108

8,288,528

7,657,978

Total liabilities and shareholders' equity

$

53,537,676

$

43,437,135

$

38,129,863

Net interest income and margin

$

442,980

3.72%

$

330,550

3.46%

$

273,435

3.23%

Non-GAAP to GAAP reconciliation:

Tax equivalent adjustment

1,167

580

807

Net interest income and margin

(tax equivalent basis)

$

444,147

3.73%

$

331,130

3.47%

$

274,242

3.24%

(L) Annualized and based on an actual 365-day basis.

(M) Yield on securities was impacted by net premium amortization of $933, $3,790, and $2,877 for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively.

(N) Total cost of funds, including noninterest bearing deposits, was 1.50%, 1.48%, and 1.64% for the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively.

Page 11

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

YIELD ANALYSIS

Year-to-Date

Sep 30, 2026

Sep 30, 2025

Average

Balance

Interest

Earned/

Interest

Paid

Average

Yield/

Rate

(O)

Average

Balance

Interest

Earned/

Interest

Paid

Average

Yield/

Rate

(O)

Interest-earning assets:

Loans held for sale

$

15,350

$

672

5.85%

$

8,588

$

433

6.74%

Loans held for investment

26,140,234

1,173,309

6.00%

20,905,781

921,688

5.89%

Loans held for investment - Warehouse Purchase Program

1,251,301

52,913

5.65%

1,092,241

51,837

6.35%

Total loans

27,406,885

1,226,894

5.99%

22,006,610

973,958

5.92%

Investment securities

12,372,077

250,105

2.70%

(P)

10,803,572

173,929

2.15%

(P)

Federal funds sold and other earning assets

1,163,922

31,596

3.63%

1,071,293

35,789

4.47%

Total interest-earning assets

40,942,884

1,508,595

4.93%

33,881,475

1,183,676

4.67%

Allowance for credit losses on loans

(366,422

)

(347,607

)

Noninterest-earning assets

5,862,157

4,955,209

Total assets

$

46,438,619

$

38,489,077

Interest-bearing liabilities:

Interest-bearing demand deposits

$

6,801,192

$

57,363

1.13%

$

4,894,289

$

26,829

0.73%

Savings and money market deposits

11,711,777

175,053

2.00%

8,976,481

138,375

2.06%

Certificates and other time deposits

5,146,332

123,319

3.20%

4,405,329

120,148

3.65%

Other borrowings

1,900,842

52,791

3.71%

2,657,143

88,206

4.44%

Securities sold under repurchase agreements

192,403

3,001

2.09%

199,883

3,579

2.39%

Subordinated notes and junior subordinated debentures

71,872

2,388

4.44%

—

—

—

Total interest-bearing liabilities

25,824,418

413,915

2.14%

(Q)

21,133,125

377,137

2.39%

(Q)

Noninterest-bearing liabilities:

Noninterest-bearing demand deposits

11,546,649

9,487,984

Allowance for credit losses on off-balance sheet credit exposures

37,786

37,646

Other liabilities

272,509

246,408

Total liabilities

37,681,362

30,905,163

Shareholders' equity

8,757,257

7,583,914

Total liabilities and shareholders' equity

$

46,438,619

$

38,489,077

Net interest income and margin

$

1,094,680

3.57%

$

806,539

3.18%

Non-GAAP to GAAP reconciliation:

Tax equivalent adjustment

2,323

1,671

Net interest income and margin (tax equivalent basis)

$

1,097,003

3.58%

$

808,210

3.19%

(O) Based on an actual 365-day basis.

(P) Yield on securities was impacted by net premium amortization of $8,552 and $12,830 for the nine months ended September 30, 2026, and 2025, respectively.

(Q) Total cost of funds, including noninterest bearing deposits, was 1.48% and 1.65% for the nine months ended September 30, 2026, and 2025, respectively.

Page 12

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

Three Months Ended

Sep 30, 2026

Jun 30, 2026

Mar 31, 2026

Dec 31, 2025

Sep 30, 2025

YIELD TREND (R)

Interest-Earning Assets:

Loans held for sale

4.88

%

6.31

%

6.11

%

6.27

%

6.64

%

Loans held for investment

6.09

%

5.93

%

5.95

%

5.83

%

5.90

%

Loans held for investment - Warehouse Purchase Program

5.70

%

5.58

%

5.68

%

5.89

%

6.31

%

Total loans

6.08

%

5.91

%

5.94

%

5.83

%

5.92

%

Investment securities (S)

2.92

%

2.66

%

2.49

%

2.17

%

2.19

%

Federal funds sold and other earning assets

3.56

%

3.61

%

3.75

%

3.99

%

4.44

%

Total interest-earning assets

5.10

%

4.81

%

4.82

%

4.64

%

4.71

%

Interest-Bearing Liabilities:

Interest-bearing demand deposits

1.40

%

0.99

%

0.91

%

0.75

%

0.76

%

Savings and money market deposits

2.06

%

1.97

%

1.94

%

1.96

%

2.07

%

Certificates and other time deposits

3.10

%

3.21

%

3.32

%

3.58

%

3.60

%

Other borrowings

3.73

%

3.71

%

3.70

%

3.99

%

4.42

%

Securities sold under repurchase agreements

2.09

%

2.10

%

2.06

%

2.23

%

2.32

%

Subordinated notes and junior subordinated debentures

4.58

%

4.25

%

4.48

%

—

—

Total interest-bearing liabilities

2.20

%

2.13

%

2.08

%

2.20

%

2.39

%

Net Interest Margin

3.72

%

3.46

%

3.50

%

3.30

%

3.23

%

Net Interest Margin (tax equivalent)

3.73

%

3.47

%

3.51

%

3.30

%

3.24

%

(R) Annualized and based on average balances on an actual 365-day basis.

(S) Yield on securities was impacted by net premium amortization of $933, $3,790, $3,829, $4,668, and $2,877 for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.

Page 13

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

Three Months Ended

Sep 30, 2026

Jun 30, 2026

Mar 31, 2026

Dec 31, 2025

Sep 30, 2025

Balance Sheet Averages

Loans held for sale

$

12,430

$

17,858

$

15,800

$

11,077

$

8,371

Loans held for investment

31,116,337

23,750,036

23,469,020

20,603,235

20,851,896

Loans held for investment - Warehouse Purchase Program

1,229,203

1,316,645

1,207,793

1,258,036

1,217,579

Total loans

32,357,970

25,084,539

24,692,613

21,872,348

22,077,846

Investment securities

13,367,427

12,258,188

11,469,762

10,378,696

10,530,807

Federal funds sold and other earning assets

1,494,076

969,502

1,026,015

830,926

934,318

Total interest-earning assets

47,219,473

38,312,229

37,188,390

33,081,970

33,542,971

Allowance for credit losses on loans

(382,299

)

(383,281

)

(330,133

)

(337,892

)

(343,872

)

Cash and due from banks

350,030

315,132

391,668

311,541

291,809

Goodwill

4,618,369

3,822,507

3,718,640

3,503,127

3,503,127

Core deposit intangibles, net

102,794

108,589

50,089

53,553

56,956

Other real estate

25,244

13,278

14,690

14,004

11,533

Fixed assets, net

509,065

430,575

423,530

380,254

377,680

Other assets

1,095,000

818,106

762,734

659,371

689,659

Total assets

$

53,537,676

$

43,437,135

$

42,219,608

$

37,665,928

$

38,129,863

Noninterest-bearing deposits

$

13,778,100

$

10,561,142

$

10,260,022

$

9,543,581

$

9,451,153

Interest-bearing demand deposits

7,985,346

6,135,720

6,266,423

4,812,342

4,656,452

Savings and money market deposits

13,589,170

10,928,333

10,583,184

9,054,281

8,977,585

Certificates and other time deposits

5,810,493

4,787,401

4,830,369

4,519,742

4,422,996

Total deposits

41,163,109

32,412,596

31,939,998

27,929,946

27,508,186

Other borrowings

1,904,348

2,174,506

1,620,556

1,595,652

2,480,435

Securities sold under repurchase agreements

204,939

194,250

177,719

185,289

187,462

Subordinated notes and junior subordinated debentures

81,341

70,408

63,673

—

—

Allowance for credit losses on off-balance sheet credit exposures

37,646

37,646

38,070

37,646

37,646

Other liabilities

345,185

259,201

218,810

248,593

258,156

Shareholders' equity

9,801,108

8,288,528

8,160,782

7,668,802

7,657,978

Total liabilities and equity

$

53,537,676

$

43,437,135

$

42,219,608

$

37,665,928

$

38,129,863

Page 14

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

Sep 30, 2026

Jun 30, 2026

Mar 31, 2026

Dec 31, 2025

Sep 30, 2025

Period End Balances

Loan Portfolio

Commercial and industrial

$

4,159,677

13.0

%

$

2,805,904

11.2

%

$

2,759,190

10.9

%

$

1,864,337

8.6

%

$

1,879,282

8.5

%

Warehouse purchase program

1,131,888

3.5

%

1,290,156

5.1

%

1,433,152

5.7

%

1,304,798

6.0

%

1,278,178

5.8

%

Construction, land development and other land loans

4,251,633

13.3

%

3,143,607

12.6

%

3,253,389

12.9

%

2,741,455

12.6

%

2,865,279

13.0

%

1-4 family residential

8,845,384

27.6

%

7,777,079

31.1

%

7,876,021

31.1

%

7,430,929

34.1

%

7,461,900

33.9

%

Home equity

776,566

2.4

%

827,696

3.3

%

846,739

3.3

%

843,708

3.8

%

848,740

3.9

%

Commercial real estate (includes multi-family residential)

10,700,208

33.4

%

7,220,978

28.9

%

7,126,212

28.2

%

5,776,397

26.5

%

5,796,937

26.3

%

Agriculture (includes farmland)

1,133,443

3.5

%

1,066,122

4.3

%

1,064,540

4.2

%

1,027,904

4.7

%

1,019,589

4.6

%

Consumer and other

455,087

1.4

%

412,268

1.6

%

406,680

1.6

%

376,241

1.7

%

366,027

1.7

%

Energy

606,523

1.9

%

484,188

1.9

%

522,063

2.1

%

439,599

2.0

%

511,837

2.3

%

Total loans

$

32,060,409

$

25,027,998

$

25,287,986

$

21,805,368

$

22,027,769

Deposit Types

Noninterest-bearing DDA

$

13,840,814

33.6

%

$

10,739,937

32.9

%

$

10,580,920

32.4

%

$

9,467,911

33.2

%

$

9,522,028

34.3

%

Interest-bearing DDA

8,110,958

19.7

%

6,133,954

18.8

%

6,345,797

19.5

%

5,365,795

18.8

%

4,766,146

17.2

%

Money market

10,612,648

25.7

%

8,248,194

25.3

%

8,163,557

25.0

%

6,538,213

23.0

%

6,402,591

23.0

%

Savings

2,887,489

7.0

%

2,700,522

8.3

%

2,743,732

8.4

%

2,592,873

9.1

%

2,616,196

9.4

%

Certificates and other time deposits

5,778,744

14.0

%

4,777,080

14.7

%

4,798,750

14.7

%

4,517,692

15.9

%

4,475,133

16.1

%

Total deposits

$

41,230,653

$

32,599,687

$

32,632,756

$

28,482,484

$

27,782,094

Loan to Deposit Ratio

77.8

%

76.8

%

77.5

%

76.6

%

79.3

%

Page 15

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

Construction Loans

Sep 30, 2026

Jun 30, 2026

Mar 31, 2026

Dec 31, 2025

Sep 30, 2025

Single family residential construction

$

870,105

20.4

%

$

689,081

21.9

%

$

690,393

21.2

%

$

613,288

22.4

%

$

665,194

23.2

%

Land development

403,706

9.5

%

359,067

11.4

%

407,811

12.5

%

252,650

9.2

%

248,616

8.7

%

Raw land

400,134

9.4

%

227,614

7.3

%

276,693

8.5

%

220,169

8.0

%

230,021

8.0

%

Residential lots

287,831

6.8

%

224,650

7.1

%

249,071

7.7

%

199,709

7.3

%

203,396

7.1

%

Commercial lots

208,192

4.9

%

61,423

2.0

%

61,691

1.9

%

59,683

2.2

%

59,853

2.1

%

Commercial construction and other

2,086,482

49.0

%

1,581,569

50.3

%

1,567,640

48.2

%

1,396,850

50.9

%

1,459,255

50.9

%

Net unaccreted premium (discount)

(4,817

)

203

90

(894

)

(1,056

)

Total construction loans

$

4,251,633

$

3,143,607

$

3,253,389

$

2,741,455

$

2,865,279

Non-Owner Occupied Commercial Real Estate Loans by Metropolitan Statistical Area (MSA) as of September 30, 2026

Houston

Dallas

Austin

OK City

Tulsa

Other (T)

Total

Collateral Type

Shopping center/retail

$

798,451

$

236,251

$

69,681

$

74,187

$

5,201

$

379,401

$

1,563,172

Commercial and industrial buildings

280,884

127,572

30,739

27,404

10,833

310,180

787,612

Office buildings

447,756

309,867

100,841

43,529

3,692

126,662

1,032,347

Medical buildings

86,613

59,372

29,257

41,359

23,893

62,088

302,582

Apartment buildings

356,564

230,724

151,978

10,080

10,997

335,493

1,095,836

Hotel

146,860

152,055

39,039

15,247

—

249,124

602,325

Other

321,809

64,922

147,352

4,261

5,716

430,430

974,490

Total

$

2,438,937

$

1,180,763

$

568,887

$

216,067

$

60,332

$

1,893,378

$

6,358,364

(U)

Acquired Loans

PSLs

PCD Loans

Total Acquired Loans

Balance at

Acquisition

Date

Balance at

Jun 30,

2026

Balance at

Sep 30,

2026

Balance at

Acquisition

Date

Balance at

Jun 30,

2026

Balance at

Sep 30,

2026

Balance at

Acquisition

Date

Balance at

Jun 30,

2026

Balance at

Sep 30,

2026

Loan marks:

Acquired banks (V)

$

388,625

$

13,140

$

11,830

$

332,400

$

4,577

$

4,168

$

721,025

$

17,717

$

15,998

American Bank (W)

15,473

16,443

17,082

1,923

1,067

589

17,396

17,510

17,671

Texas Partners Bank (X)

38,467

36,199

34,043

2,328

1,800

1,667

40,795

37,999

35,710

Stellar Bank (Y)

57,318

—

55,132

27,424

—

21,808

84,742

—

76,940

Total

499,883

65,782

118,087

364,075

7,444

28,232

863,958

73,226

146,319

Acquired portfolio loan balances:

Acquired banks (V)

14,323,981

1,216,873

1,107,752

1,376,673

239,094

220,826

15,700,654

1,455,967

1,328,578

American Bank (W)

1,810,982

1,591,292

1,334,236

93,300

75,647

73,933

1,904,282

1,666,939

1,408,169

Texas Partners Bank (X)

1,864,565

1,591,029

1,440,053

76,199

68,004

66,525

1,940,764

1,659,033

1,506,578

Stellar Bank (Y)

7,022,287

—

6,366,665

541,214

—

523,683

7,563,501

—

6,890,348

Total

25,021,815

4,399,194

10,248,706

2,087,386

382,745

884,967

27,109,201

(Z)

4,781,939

11,133,673

Acquired portfolio loan balances with loan marks

$

24,521,932

$

4,231,106

$

10,130,619

$

1,723,311

$

375,301

$

856,735

$

26,245,243

$

4,606,407

$

10,987,354

(T) Includes other MSA and non-MSA regions.

(U) Represents a portion of total commercial real estate loans of $10.7 billion as of September 30, 2026.

(V) Includes Bank Arlington, American State Bank, Community National Bank, First Federal Bank Texas, Coppermark Bank, First Victoria National Bank, The F&M Bank & Trust Company, Tradition Bank, LegacyTexas Bank, FirstCapital Bank and Lone Star State Bank of West Texas.

(W) The American Merger was completed on January 1, 2026. The American Merger resulted in the addition of $1.904 billion in loans with related purchase accounting adjustments of $17.4 million at acquisition date.

(X) The Southwest Merger was completed on February 1, 2026. The Southwest Merger resulted in the addition of $1.941 billion in loans with related purchase accounting adjustments of $40.8 million at acquisition date.

(Y) The Stellar Merger was completed on July 1, 2026. The Stellar Merger resulted in the addition of $7.564 billion in loans with related purchase accounting adjustments of $84.7 million at acquisition date.

(Z) Actual principal balances acquired.

Page 16

Prosperity Bancshares, Inc.®

Financial Highlights (Unaudited)

(Dollars in thousands)

Three Months Ended

Year-to-Date

Sep 30,

2026

Jun 30,

2026

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Sep 30,

2026

Sep 30,

2025

Asset Quality

Nonaccrual loans

$

170,251

$

116,911

$

106,473

$

137,217

$

105,529

$

170,251

$

105,529

Accruing loans 90 or more days past due

780

2,360

2,241

317

268

780

268

Total nonperforming loans

171,031

119,271

108,714

137,534

105,797

171,031

105,797

Repossessed assets

57

9

136

12

16

57

16

Other real estate

22,784

11,296

13,257

13,296

13,750

22,784

13,750

Total nonperforming assets

$

193,872

$

130,576

$

122,107

$

150,842

$

119,563

$

193,872

$

119,563

Nonperforming assets:

Commercial and industrial (includes energy)

$

35,840

$

22,115

$

17,495

$

57,237

$

27,880

$

35,840

$

27,880

Construction, land development and other land loans

8,228

3,781

2,054

2,183

583

8,228

583

1-4 family residential (includes home equity)

84,341

64,394

63,168

60,296

57,241

84,341

57,241

Commercial real estate (includes multi-family residential)

49,874

19,597

17,880

9,215

11,471

49,874

11,471

Agriculture (includes farmland)

12,729

15,590

16,259

16,713

17,080

12,729

17,080

Consumer and other

2,860

5,099

5,251

5,198

5,308

2,860

5,308

Total

$

193,872

$

130,576

$

122,107

$

150,842

$

119,563

$

193,872

$

119,563

Number of loans/properties

709

499

484

449

424

709

424

Allowance for credit losses on loans

$

591,951

$

382,841

$

383,840

$

333,742

$

339,626

$

591,951

$

339,626

Net charge-offs (recoveries):

Commercial and industrial (includes energy)

$

1,848

$

1,386

$

39,225

$

5,388

$

3,341

$

42,459

$

4,715

Construction, land development and other land loans

(1

)

50

—

(154

)

34

49

(125

)

1-4 family residential (includes home equity)

308

314

862

175

853

1,484

2,246

Commercial real estate (includes multi-family residential)

1,004

(1,064

)

(121

)

(665

)

1,015

(181

)

1,248

Agriculture (includes farmland)

(51

)

28

52

(5

)

(40

)

29

(54

)

Consumer and other

1,329

1,469

1,291

1,145

1,255

4,089

4,149

Total

$

4,437

$

2,183

$

41,309

$

5,884

$

6,458

$

47,929

$

12,179

Asset Quality Ratios

Nonperforming assets to average interest-earning assets

0.41

%

0.34

%

0.33

%

0.46

%

0.36

%

0.47

%

0.35

%

Nonperforming assets to loans and other real estate

0.60

%

0.52

%

0.48

%

0.69

%

0.54

%

0.60

%

0.54

%

Net charge-offs to average loans (annualized)

0.05

%

0.03

%

0.67

%

0.11

%

0.12

%

0.23

%

0.07

%

Allowance for credit losses on loans to total loans

1.85

%

1.53

%

1.52

%

1.53

%

1.54

%

1.85

%

1.54

%

Allowance for credit losses on loans to total loans, excluding Warehouse Purchase Program loans (G)

1.91

%

1.61

%

1.61

%

1.63

%

1.64

%

1.91

%

1.64

%

Page 17

Prosperity Bancshares, Inc.®

Notes to Selected Financial Data (Unaudited)

(Dollars and share amounts in thousands, except per share data)

NOTES TO SELECTED FINANCIAL DATA

Prosperity’s management uses certain non-GAAP (generally accepted accounting principles) financial measures to evaluate its performance. Specifically, for internal planning and forecasting purposes, Prosperity reviews each of diluted earnings per share, return on average assets, return on average common equity, and return on average tangible common equity, in each case excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on sale or write-up of securities, net of tax, and the out of state tax settlement; return on average tangible common equity; tangible book value per share; the tangible equity to tangible assets ratio; allowance for credit losses to total loans excluding Warehouse Purchase Program loans; the efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets and securities; and the efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets and securities, merger related expenses and FDIC special assessment. In addition, due to the application of purchase accounting, Prosperity uses certain non-GAAP financial measures and ratios that exclude the impact of these items to evaluate its allowance for credit losses to total loans (excluding Warehouse Purchase Program loans). Prosperity has included information below relating to these non-GAAP financial measures for the applicable periods presented.

Three Months Ended

Year-to-Date

Sep 30,

2026

Jun 30,

2026

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Sep 30,

2026

Sep 30,

2025

Reconciliation of diluted earnings per share to diluted earnings per share excluding merger related expenses, net of tax, FDIC special assessment, net of tax, and net gain on sale or write-up of securities, net of tax, and out of state tax settlement:

Diluted earnings per share (unadjusted)

$

1.18

$

1.67

$

1.16

$

1.49

$

1.45

$

3.99

$

4.23

Net income

$

141,462

$

168,583

$

116,267

$

139,907

$

137,556

$

426,312

$

402,936

Merger related expenses, net of tax(AA)

55,098

596

33,588

212

49

89,282

49

FDIC special assessment, net of tax(AA)

—

—

—

(2,807

)

—

—

—

Net gain on sale or write-up of securities, net of tax(AA)

(732

)

(6,506

)

—

—

—

(7,238

)

—

Out of state tax settlement

4,965

—

—

—

—

4,965

—

Net income excluding merger related expenses, net of tax, FDIC special assessment, net of tax, and net gain on sale or write-up of securities, net of tax(AA) and out of state tax settlement

$

200,793

$

162,673

$

149,855

$

137,312

$

137,605

$

513,321

$

402,985

Weighted average diluted shares outstanding

119,899

100,783

99,825

94,044

95,093

106,909

95,211

Merger related expenses, net of tax, per diluted common share(AA)

$

0.46

$

0.01

$

0.34

$

—

$

—

$

0.84

$

—

FDIC special assessment, net of tax, per diluted common share(AA)

$

—

$

—

$

—

$

(0.03

)

$

—

$

—

$

—

Net gain on sale or write-up of securities, net of tax, per diluted common share(AA)

$

(0.01

)

$

(0.06

)

$

—

$

—

$

—

$

(0.06

)

$

—

Out of state tax settlement, per diluted common share

$

0.04

$

—

$

—

$

—

$

—

$

0.04

$

—

Diluted earnings per share excluding merger related expenses, net of tax, FDIC special assessment, net of tax, and net gain on sale or write-up of securities, net of tax(AA) and out of state tax settlement

$

1.67

$

1.62

$

1.50

$

1.46

$

1.45

$

4.81

$

4.23

Reconciliation of effective income tax rate to effective income tax rate excluding out of state tax settlement:

Effective income tax rate (unadjusted)

24.4

%

21.6

%

22.7

%

21.8

%

21.9

%

22.8

%

21.7

%

Income before income taxes

$

187,087

$

215,079

$

150,337

$

179,021

$

176,038

$

552,503

$

514,559

Provision for income taxes

45,625

46,496

34,070

39,114

38,482

126,191

111,623

Out of state tax settlement

4,965

—

—

—

—

4,965

-

Provision for income taxes excluding out of state tax settlement

$

40,660

$

46,496

$

34,070

$

39,114

$

38,482

$

121,226

$

111,623

Effective income tax rate excluding out of state tax settlement

21.7

%

21.6

%

22.7

%

21.8

%

21.9

%

21.9

%

21.7

%

(AA) Calculated assuming a federal tax rate of 21.0%.

Page 18

Three Months Ended

Year-to-Date

Sep 30,

2026

Jun 30,

2026

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Sep 30,

2026

Sep 30,

2025

Reconciliation of return on average assets to return on average assets excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on sale or write-up of securities, net of tax, and out of state tax settlement:

Return on average assets (unadjusted)

1.06

%

1.55

%

1.10

%

1.49

%

1.44

%

1.22

%

1.40

%

Net income excluding merger related expenses, net of tax, FDIC special assessment, net of tax, and net gain on sale or write-up of securities, net of tax(AA) and out of state tax settlement

$

200,793

$

162,673

$

149,855

$

137,312

$

137,605

$

513,321

$

402,985

Average total assets

$

53,537,676

$

43,437,135

$

42,219,608

$

37,665,928

$

38,129,863

$

46,438,619

$

38,489,077

Return on average assets excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on sale or write-up of securities, net of tax (F) (AA), and out of state tax settlement

1.50

%

1.50

%

1.42

%

1.46

%

1.44

%

1.47

%

1.40

%

Reconciliation of return on average common equity to return on average common equity excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on sale or write-up of securities, net of tax, and out of state tax settlement:

Return on average common equity (unadjusted)

5.77

%

8.14

%

5.70

%

7.30

%

7.18

%

6.49

%

7.08

%

Net income excluding merger related expenses, net of tax, FDIC special assessment, net of tax, and net gain on sale or write-up of securities, net of tax(AA) and out of state tax settlement

$

200,793

$

162,673

$

149,855

$

137,312

$

137,605

$

513,321

$

402,985

Average shareholders' equity

$

9,801,108

$

8,288,528

$

8,160,782

$

7,668,802

$

7,657,978

$

8,757,257

$

7,583,914

Return on average common equity excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on sale or write-up of securities, net of tax(F) (AA), and out of state tax settlement

8.19

%

7.85

%

7.35

%

7.16

%

7.19

%

7.82

%

7.08

%

Reconciliation of return on average common equity to return on average tangible common equity:

Net income

$

141,462

$

168,583

$

116,267

$

139,907

$

137,556

$

426,312

$

402,936

Average shareholders’ equity

$

9,801,108

$

8,288,528

$

8,160,782

$

7,668,802

$

7,657,978

$

8,757,257

$

7,583,914

Less: Average goodwill and other intangible assets

(4,721,163

)

(3,931,096

)

(3,768,729

)

(3,556,680

)

(3,560,083

)

(4,146,343

)

(3,563,763

)

Average tangible shareholders’ equity

$

5,079,945

$

4,357,432

$

4,392,053

$

4,112,122

$

4,097,895

$

4,610,914

$

4,020,151

Return on average tangible common equity (F)

11.14

%

15.48

%

10.59

%

13.61

%

13.43

%

12.33

%

13.36

%

Reconciliation of return on average common equity to return on average tangible common equity excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on sale or write-up of securities, net of tax(AA), and out of state tax settlement:

Net income excluding merger related expenses, net of tax, FDIC special assessment, net of tax, and net gain on sale or write-up of securities, net of tax(AA) and out of state tax settlement

$

200,793

$

162,673

$

149,855

$

137,312

$

137,605

$

513,321

$

402,985

Average shareholders’ equity

$

9,801,108

$

8,288,528

$

8,160,782

$

7,668,802

$

7,657,978

$

8,757,257

$

7,583,914

Less: Average goodwill and other intangible assets

(4,721,163

)

(3,931,096

)

(3,768,729

)

(3,556,680

)

(3,560,083

)

(4,146,343

)

(3,563,763

)

Average tangible shareholders’ equity

$

5,079,945

$

4,357,432

$

4,392,053

$

4,112,122

$

4,097,895

$

4,610,914

$

4,020,151

Return on average tangible common equity excluding merger related expenses, net of tax, FDIC special assessment, net of tax, net gain on sale or write-up of securities, net of tax (F) (AA), and out of state tax settlement

15.81

%

14.93

%

13.65

%

13.36

%

13.43

%

14.84

%

13.37

%

Page 19

Three Months Ended

Year-to-Date

Sep 30,

2026

Jun 30,

2026

Mar 31,

2026

Dec 31,

2025

Sep 30,

2025

Sep 30,

2026

Sep 30,

2025

Reconciliation of book value per share to tangible book value per share:

Shareholders’ equity

$

9,759,535

$

8,305,259

$

8,207,851

$

7,616,140

$

7,664,938

$

9,759,535

$

7,664,938

Less: Goodwill and other intangible assets

(5,005,571

)

(3,929,502

)

(3,933,526

)

(3,554,732

)

(3,558,321

)

(5,005,571

)

(3,558,321

)

Tangible shareholders’ equity

$

4,753,964

$

4,375,757

$

4,274,325

$

4,061,408

$

4,106,617

$

4,753,964

$

4,106,617

Period end shares outstanding

119,713

100,646

100,835

93,058

94,993

119,713

94,993

Tangible book value per share

$

39.71

$

43.48

$

42.39

$

43.64

$

43.23

$

39.71

$

43.23

Reconciliation of equity to assets ratio to period end tangible equity to period end tangible assets ratio:

Tangible shareholders’ equity

$

4,753,964

$

4,375,757

$

4,274,325

$

4,061,408

$

4,106,617

$

4,753,964

$

4,106,617

Total assets

$

54,101,075

$

43,872,511

$

43,619,183

$

38,463,425

$

38,330,469

$

54,101,075

$

38,330,469

Less: Goodwill and other intangible assets

(5,005,571

)

(3,929,502

)

(3,933,526

)

(3,554,732

)

(3,558,321

)

(5,005,571

)

(3,558,321

)

Tangible assets

$

49,095,504

$

39,943,009

$

39,685,657

$

34,908,693

$

34,772,148

$

49,095,504

$

34,772,148

Period end tangible equity to period end tangible assets ratio

9.68

%

10.96

%

10.77

%

11.63

%

11.81

%

9.68

%

11.81

%

Reconciliation of allowance for credit losses to total loans to allowance for credit losses on loans to total loans excluding Warehouse Purchase Program:

Allowance for credit losses on loans

$

591,951

$

382,841

$

383,840

$

333,742

$

339,626

$

591,951

$

339,626

Total loans

$

32,060,409

$

25,027,998

$

25,287,986

$

21,805,368

$

22,027,769

$

32,060,409

$

22,027,769

Less: Warehouse Purchase Program loans

(1,131,888

)

(1,290,156

)

(1,433,152

)

(1,304,798

)

(1,278,178

)

(1,131,888

)

(1,278,178

)

Total loans less Warehouse Purchase Program

$

30,928,521

$

23,737,842

$

23,854,834

$

20,500,570

$

20,749,591

$

30,928,521

$

20,749,591

Allowance for credit losses on loans to total loans excluding Warehouse Purchase Program

1.91

%

1.61

%

1.61

%

1.63

%

1.64

%

1.91

%

1.64

%

Reconciliation of efficiency ratio to efficiency ratio excluding net gains and losses on the sale, write-down or write-up of assets:

Noninterest expense

$

308,613

$

176,176

$

217,287

$

138,712

$

138,635

$

702,076

$

417,501

Net interest income

$

442,980

$

330,550

$

321,150

$

274,953

$

273,435

$

1,094,680

$

806,539

Noninterest income

52,720

60,705

46,474

42,780

41,238

159,899

125,521

Less: net (loss) gain on sale or write down of assets

(2,578

)

(42

)

318

35

3

(2,302

)

1,182

Less: net gain on sale or write-up of securities

927

8,235

—

—

—

9,162

—

Noninterest income excluding net gains and losses on the sale, write-down or write-up of assets

54,371

52,512

46,156

42,745

41,235

153,039

124,339

Total income excluding net gains and losses on the sale, write-down or write-up of assets

$

497,351

$

383,062

$

367,306

$

317,698

$

314,670

$

1,247,719

$

930,878

Efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets

62.05

%

45.99

%

59.16

%

43.66

%

44.06

%

56.27

%

44.85

%

Reconciliation of efficiency ratio to efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets, merger related expenses and FDIC special assessment:

Noninterest expense

$

308,613

$

176,176

$

217,287

$

138,712

$

138,635

$

702,076

$

417,501

Less: merger related expenses

69,744

755

42,516

268

62

113,015

62

Less: FDIC special assessment

—

—

—

(3,554

)

—

—

—

Noninterest expense excluding merger related expenses and FDIC special assessment

$

238,869

$

175,421

$

174,771

$

141,998

$

138,573

$

589,061

$

417,439

Net interest income

$

442,980

$

330,550

$

321,150

$

274,953

$

273,435

$

1,094,680

$

806,539

Noninterest income

52,720

60,705

46,474

42,780

41,238

159,899

125,521

Less: net (loss) gain on sale or write down of assets

(2,578

)

(42

)

318

35

3

(2,302

)

1,182

Less: net gain on sale or write-up of securities

927

8,235

—

—

—

9,162

—

Noninterest income excluding net gains and losses on the sale, write-down or write-up of assets

54,371

52,512

46,156

42,745

41,235

153,039

124,339

Total income excluding net gains and losses on the sale, write-down or write-up of assets

$

497,351

$

383,062

$

367,306

$

317,698

$

314,670

$

1,247,719

$

930,878

Efficiency ratio, excluding net gains and losses on the sale, write-down or write-up of assets, merger related expenses and FDIC special assessment

48.03

%

45.79

%

47.58

%

44.70

%

44.04

%

47.21

%

44.84

%

Page 20

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Oct. 28, 2026

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Two-character EDGAR code representing the state or country of incorporation.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

-Number 240

-Section 12

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

-Number 240

-Section 13e

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Title of a 12(b) registered security.

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Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

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Trading symbol of an instrument as listed on an exchange.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

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