Prosperity Bancshares acquiring American Bank

Houston-based Prosperity Bancshares is acquiring Corpus Christi, Texas-based American Bank Holding Corp. and subsidiary American Bank for $321.5 million. .The deal is expected to close either late this year or early in 2026. As of March 31, Prosperity Bancshares had $38.7 billion in assets and more than 280 branches in Texas and Oklahoma. The $2.5 billion American Bank has 18 branches and two LPOs in south and central Texas. The bank also has $1.8 billion in loans and $2.3 billion in deposits. American Bank CEO and President Stephen Raffaele will join Prosperity Bank as area chair of both South Texas and San Antonio. American Bank Chair Ben Wallace will join Prosperity Bank as South Texas senior chair. The acquisition will strengthen Prosperity Bank’s footprint in south and central Texas, said President David Zallman. “We have followed American Bank closely for more than two decades and have tremendous respect for the bank and for the people who have contributed to its success,” he added. “Our banks have a complementary footprint, and we are familiar with and remain committed to the communities that American Bank serves, including with both financial products and community support.” Little Rock, Ark.-based Stephens Inc. is serving as financial adviser to American Bank Holding Corp., with Houston-based Norton Rose Fulbright providing legal counsel. New York City-based Keefe, Bruyette & Woods is financial adviser to Prosperity, while New York-based Wachtell, Lipton, Rosen & Katz is legal counsel.