PROSPERITY BANCSHARES INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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Financial Statements and Supplementary Data
The financial statements, the report thereon, the notes thereto and supplementary data commence at page 79 of this Annual Report on Form 10-K.
The following table presents certain unaudited consolidated quarterly financial information concerning the Company’s results of operations for each of the two years indicated below. The information should be read in conjunction with the historical consolidated financial statements of the Company and the notes thereto appearing elsewhere in this Annual Report on Form 10-K.
CONSOLIDATED QUARTERLY FINANCIAL DATA OF THE COMPANY
| December 31 | September 30 | June 30 | March 31 | |
|---|---|---|---|---|
| (Dollars in thousands, except per share data) | ||||
| (unaudited) | ||||
| Interest income | $376,432 | $380,354 | $360,448 | $327,309 |
| Interest expense | 139,449 | 140,830 | 123,989 | 83,842 |
| Net interest income | 236,983 | 239,524 | 236,459 | 243,467 |
| Provision for credit losses | — | — | 18,540 | — |
| Net interest income after provision | 236,983 | 239,524 | 217,919 | 243,467 |
| Noninterest income | 36,568 | 38,743 | 39,688 | 38,266 |
| Noninterest expense | 152,171 | 135,657 | 145,870 | 123,000 |
| Income before income taxes | 121,380 | 142,610 | 111,737 | 158,733 |
| Provision for income taxes | 25,904 | 30,402 | 24,799 | 34,039 |
| Net income | $95,476 | $112,208 | $86,938 | $124,694 |
| Earnings per share(1): | ||||
| Basic | $1.02 | $1.20 | $0.94 | $1.37 |
| Diluted | $1.02 | $1.20 | $0.94 | $1.37 |
| December 31 | September 30 | June 30 | March 31 | |
|---|---|---|---|---|
| (Dollars in thousands, except per share data) | ||||
| (unaudited) | ||||
| Interest income | $308,592 | $279,554 | $257,806 | $248,883 |
| Interest expense | 52,455 | 18,875 | 9,335 | 8,939 |
| Net interest income | 256,137 | 260,679 | 248,471 | 239,944 |
| Provision for credit losses | — | — | — | — |
| Net interest income after provision | 256,137 | 260,679 | 248,471 | 239,944 |
| Noninterest income | 37,724 | 34,688 | 37,594 | 35,122 |
| Noninterest expense | 119,244 | 122,214 | 122,878 | 119,850 |
| Income before income taxes | 174,617 | 173,153 | 163,187 | 155,216 |
| Provision for income taxes | 36,737 | 37,333 | 34,697 | 32,890 |
| Net income | $137,880 | $135,820 | $128,490 | $122,326 |
| Earnings per share(1): | ||||
| Basic | $1.51 | $1.49 | $1.40 | $1.33 |
| Diluted | $1.51 | $1.49 | $1.40 | $1.33 |
(1)
Earnings per share are computed independently for each of the quarters presented and therefore may not total earnings per share for the year.
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