07:24 AM EDT, 07/18/2025 (MT Newswires) -- Prosperity Bancshares ( PB ) said Friday it has agreed to acquire American Bank Holding Corporation and unit American Bank for approximately $321.5 million.

Under the terms of the agreement, Prosperity will issue about 4.4 million shares of its common stock for all outstanding shares of American Bank Holding common stock, subject to certain potential adjustments.

As of March 31, American Bank Holding reported total assets of $2.5 billion, total loans of $1.8 billion and total deposits of $2.3 billion.

The transaction is expected to close in Q4 2025 or Q1 2026, the company said.

Upon deal completion, Stephen Raffaele, director and president of American Bank Holding, as well as CEO and president of American Bank, and Patt Hawn Wallace, chair of American Bank Holding, will join the board of Prosperity Bank.

Shares of Prosperity Bancshares ( PB ) rose nearly 2% in recent premarket activity Friday.

Price: 73.78, Change: +1.38, Percent Change: +1.91