Bracewell, Shapiro Bieging Lead $2.1B Bank Merger

By Chelsea Naso (June 17, 2019, 5:09 PM EDT) -- Prosperity Bancshares, led by Bracewell, on Monday inked a $2.1 billion deal for fellow bank holding company LegacyTexas, advised by Shapiro Bieging, paving the way to form the second-largest Texas-headquartered bank.

The deal will see Prosperity Bancshares Inc., which owns Prosperity Bank, pick up LegacyTexas Financial Group Inc., the parent of LegacyTexas Bank. LegacyTexas boasts $9.3 billion in assets, $8.1 billion in gross loans and $7.1 billion in total deposits, according to a statement.

"Through the second largest bank merger in the history of Texas, our combined companies create the second largest bank by deposits headquartered in Texas. Together, our increased...

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