Under the terms of the agreement, Prosperity issued 0.3803 shares of its common stock and provided $11.36 in cash for each outstanding share of Stellar common stock. While the legal merger is effective immediately, Stellar banking locations will continue operating under their current name until full operational integration is finalized in March 2027. At that time, customers will gain access to the full range of services offered across Prosperity Bank’s extensive footprint.
Prosperity Bancshares Finalizes Acquisition of Stellar Bancorp
Houston-based Prosperity Bancshares officially completed its merger with Stellar Bancorp on July 1, 2026. The transaction integrates Stellar’s fifty-two banking offices into the Prosperity network, marking a significant consolidation of regional financial services across Texas, while initiating a leadership transition for key executives from both institutions.
Leadership changes accompany the deal, with Stellar CEO Robert R. Franklin, Jr. joining Prosperity as Vice Chairman and Stellar President Ramon Vitulli stepping into the role of Houston Area Chairman for Prosperity Bank. Furthermore, Franklin and Stellar director Joe B. Swinbank have been appointed to the Prosperity Bancshares Board of Directors, while Vitulli and Pat Parsons have joined the board of the subsidiary bank. This merger expands a regional holding company that, as of March 2026, reported $43.619 billion in assets and operated over 300 locations across Texas and Oklahoma.
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