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Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Financial Statements | 18. PARENT COMPANY ONLY FINANCIAL STATEMENTS PROSPERITY BANCSHARES, INC. (Parent Company Only) CONDENSED BALANCE SHEETS
|  | December 31, |
|  | 2024 |  |  | 2023 |
|  | (Dollars in thousands) |
ASSETS |  |  |  |  |  |
Cash |  | $ | 5,187 |  |  | $ | 5,727 |
Investment in subsidiary |  |  | 7,419,290 |  |  |  | 7,059,667 |
Goodwill |  |  | 3,982 |  |  |  | 3,982 |
Other assets |  |  | 11,530 |  |  |  | 10,690 |
TOTAL |  | $ | 7,439,989 |  |  | $ | 7,080,066 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |
LIABILITIES: |  |  |  |  |  |
Accrued interest payable and other liabilities |  | $ | 1,494 |  |  | $ | 736 |
SHAREHOLDERS’ EQUITY: |  |  |  |  |  |
Common stock |  |  | 95,276 |  |  |  | 93,723 |
Capital surplus |  |  | 3,796,622 |  |  |  | 3,703,795 |
Retained earnings |  |  | 3,548,221 |  |  |  | 3,283,210 |
Unrealized loss on available for sale securities, net of tax |  |  | (1,624 | ) |  |  | (1,398 | )
Total shareholders’ equity |  |  | 7,438,495 |  |  |  | 7,079,330 |
TOTAL |  | $ | 7,439,989 |  |  | $ | 7,080,066 |
PROSPERITY BANCSHARES, INC. (Parent Company Only) CONDENSED STATEMENTS OF INCOME
|  | For the Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (Dollars in thousands) |
OPERATING INCOME: |  |  |  |  |  |  |  |  |
Dividends from subsidiary |  | $ | 352,766 |  |  | $ | 373,248 |  |  | $ | 256,721 |
Other (expense) income |  |  | (2 | ) |  |  | 25 |  |  |  | 8 |
Total income |  |  | 352,764 |  |  |  | 373,273 |  |  |  | 256,729 |
OPERATING EXPENSE: |  |  |  |  |  |  |  |  |
Subordinated notes interest expense |  |  | — |  |  |  | 38 |  |  |  | — |
Stock based compensation expense (includes restricted stock) |  |  | 12,843 |  |  |  | 12,181 |  |  |  | 11,765 |
Other expenses |  |  | 2,881 |  |  |  | 2,896 |  |  |  | 1,968 |
Total operating expense |  |  | 15,724 |  |  |  | 15,115 |  |  |  | 13,733 |
INCOME BEFORE INCOME TAX BENEFIT AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES |  |  | 337,040 |  |  |  | 358,158 |  |  |  | 242,996 |
FEDERAL INCOME TAX BENEFIT |  |  | 2,057 |  |  |  | 2,076 |  |  |  | 1,927 |
INCOME BEFORE EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES |  |  | 339,097 |  |  |  | 360,234 |  |  |  | 244,923 |
EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES |  |  | 140,289 |  |  |  | 59,082 |  |  |  | 279,593 |
NET INCOME |  | $ | 479,386 |  |  | $ | 419,316 |  |  | $ | 524,516 |
PROSPERITY BANCSHARES, INC. (Parent Company Only) CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
|  | For the Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (Dollars in thousands) |
Net income |  | $ | 479,386 |  |  | $ | 419,316 |  |  | $ | 524,516 |
Other comprehensive (loss) income, before tax: |  |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |  |
Change in unrealized (loss) income during the period |  |  | (286 | ) |  |  | 2,626 |  |  |  | (6,686 | )
Total other comprehensive (loss) income |  |  | (286 | ) |  |  | 2,626 |  |  |  | (6,686 | )
Deferred tax benefit (expense) related to other comprehensive (loss) income |  |  | 60 |  |  |  | (551 | ) |  |  | 1,404 |
Other comprehensive (loss) income, net of tax |  |  | (226 | ) |  |  | 2,075 |  |  |  | (5,282 | )
Comprehensive income |  | $ | 479,160 |  |  | $ | 421,391 |  |  | $ | 519,234 |
PROSPERITY BANCSHARES, INC. (Parent Company Only) CONDENSED STATEMENTS OF CASH FLOWS
|  | For the Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (Dollars in thousands) |
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net income |  | $ | 479,386 |  |  | $ | 419,316 |  |  | $ | 524,516 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  |  | (140,289 | ) |  |  | (59,082 | ) |  |  | (279,593 | )
Stock based compensation expense |  |  | 12,843 |  |  |  | 12,181 |  |  |  | 11,765 |
(Increase) decrease in other assets |  |  | (840 | ) |  |  | (1,543 | ) |  |  | 2,515 |
Increase in accrued interest payable and other liabilities |  |  | 747 |  |  |  | 576 |  |  |  | — |
Net cash provided by operating activities |  |  | 351,847 |  |  |  | 371,448 |  |  |  | 259,203 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash paid for acquisitions |  |  | (63,246 | ) |  |  | (88,490 | ) |  |  | — |
Net cash used in investing activities |  |  | (63,246 | ) |  |  | (88,490 | ) |  |  | — |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Redemption of junior subordinated debentures |  |  | — |  |  |  | (3,158 | ) |  |  | — |
Repurchase of common stock |  |  | (74,766 | ) |  |  | (72,248 | ) |  |  | (65,721 | )
Payments of cash dividends |  |  | (214,375 | ) |  |  | (205,715 | ) |  |  | (193,140 | )
Net cash used in financing activities |  |  | (289,141 | ) |  |  | (281,121 | ) |  |  | (258,861 | )
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  |  | (540 | ) |  |  | 1,837 |  |  |  | 342 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD |  |  | 5,727 |  |  |  | 3,890 |  |  |  | 3,548 |
CASH AND CASH EQUIVALENTS, END OF PERIOD |  | $ | 5,187 |  |  | $ | 5,727 |  |  | $ | 3,890 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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