HOUSTON (AP) — HOUSTON (AP) — Prosperity Bancshares Inc. (PB) on Wednesday reported first-quarter earnings of $116.3 million.
The Houston-based bank said it had earnings of $1.16 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $1.50 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The financial holding company posted revenue of $488.2 million in the period. Its revenue net of interest expense was $367.6 million, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $352.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PB at https://www.zacks.com/ap/PB
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