Bracewell Aids Prosperity In $529M West Texas Bank Buy

Law360, New York (February 27, 2012, 5:46 PM EST) -- Houston bank holding company Prosperity Bancshares Inc. has struck a deal to pay $529 million in cash and stock to buy American State Financial Corp. and expand its operations in West Texas, Prosperity Bancshares said Monday.

Prosperity Bancshares, which operates Prosperity Bank, said American State's 37 banking locations in cities like Lubbock, Odessa and Midland will make it the second-largest bank focused on the Lone Star State with $14 billion in total assets.

"The customers of American State Bank will be able to use any of...
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