Latest News by Industry
![PROSPERITY BANCSHARES INC [PB] reports annual net loss of $419.3 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPB.png&w=1200&q=75)
PROSPERITY BANCSHARES INC [PB] has reported a net loss of $419.3 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.4 trillion
Based in HOUSTON, Texas, PROSPERITY BANCSHARES INC operates in the FINANCE sector.
Consolidated Statements of Income - USD ($) 12 Months Ended Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2021
INTEREST INCOME:
Loans, including fees $1,148.996M $831.189M $869.908M
Securities $283.302M $260.416M $175.459M
Federal funds sold and other earning assets $12.245M $3.23M $1.556M
Total interest income $1,444.543M $1,094.835M $1,046.923M
INTEREST EXPENSE:
Deposits $272.345M $68.112M $52.913M
Other borrowings $206.323M $18.851M
Securities sold under repurchase agreements $9.404M $2.641M $0.702M
Subordinated notes $0.038M
Total interest expense $488.11M $89.604M $53.615M
NET INTEREST INCOME $956.433M $1,005.231M $993.308M
PROVISION FOR CREDIT LOSSES $18.54M $0 $0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES $937.893M $1,005.231M $993.308M
NONINTEREST INCOME:
Nonsufficient funds (NSF) fees $33.691M $34.014M $29.61M
Credit card, debit card and ATM card income $36.471M $34.764M $34.68M
Service charges on deposit accounts $24.582M $24.73M $24.392M
Trust income $13.269M $12.25M $10.278M
Mortgage income $2.298M $1.399M $8.302M
Brokerage income $4.275M $3.654M $3.32M
Net gain on sale or write down of assets $1.986M $3.934M $1.097M
Other $36.693M $30.383M $28.287M
Total noninterest income $153.265M $145.128M $139.966M
NONINTEREST EXPENSE:
Salaries and employee benefits $328.43M $314.713M $310.556M
Net occupancy and equipment $35.517M $32.446M $32.184M
Credit and debit card, data processing and software amortization $41.57M $37.327M $35.104M
Regulatory assessments and FDIC insurance $40.165M $11.381M $10.638M
Core deposit intangibles amortization $12.676M $10.336M $11.551M
Depreciation $18.283M $17.96M $18.095M
Communications $14.413M $13.005M $12.028M
Net other real estate (income) expense ($0.834M) ($0.122M) ($2.224M)
Merger related expenses $15.133M $0.272M
Other $51.345M $46.868M $45.688M
Total noninterest expense $556.698M $484.186M $473.62M
INCOME BEFORE INCOME TAXES $534.46M $666.173M $659.654M
PROVISION FOR INCOME TAXES $115.144M $141.657M $140.357M
NET INCOME $419.316M $524.516M $519.297M
EARNINGS PER SHARE:
Basic $4.51 $5.73 $5.60
Diluted $4.51 $5.73 $5.60
Also Read: