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Prosperity CEO: Acquisition of DFW bank will make Houston bank ‘bigger, better and stronger’

Chris Mathews
Prosperity CEO: Acquisition of DFW bank will make Houston bank ‘bigger, better and stronger’

David Zalman, chairman and CEO of Houston-based Prosperity Bancshares Inc. (NYSE: PB), is bullish on the bank’s planned acquisition of Plano-based LegacyTexas Financial Group (Nasdaq: LTXB). Prosperity on June 17 announced that it would acquire LegacyTexas in a cash-and-stock deal valued at about $2.1 billion. Should the acquisition be completed, it would be the second-largest bank merger in the history of Texas and would create the second-largest Texas-based bank, based on deposits, Zalman said in a June 17 press release.