Prosperity To Buy 3 US Bank Branches In Texas

Law360, New York (January 21, 2010, 2:34 PM EST) -- Prosperity Bancshares Inc. has agreed to buy three Texas branches of U.S. Bank — which hold approximately $420 million in deposits — as well as purchase certain loans and other assets.

Houston-based Prosperity said Tuesday that it was acquiring U.S. Bank locations in Madisonville, Teague and Houston in Texas, though the purchase price was not disclosed.

“With the addition of these three locations, Prosperity will operate 161 full service banking centers in Texas,” said David Zalman, chief executive officer and chairman of Prosperity. “We look forward...
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