Stellar Bancorp, Inc.

Prosperity Bancshares has completed its merger with Stellar Bancorp, effective July 1, 2026. Under the terms, Prosperity issued 0.3803 shares of its common stock and paid $11.36 in cash for each outstanding share of Stellar common stock. Stellar’s CEO Robert R. Franklin, Jr. joins Prosperity as Vice Chairman, while Stellar’s President Ramon Vitulli becomes Houston Area Chairman of Prosperity Bank. Stellar operates 52 banking offices in Texas, which will continue under the Stellar Bank name until operational integration scheduled for March 2027. As of June 30, 2026, Prosperity operates 311 full-service banking locations across Texas and Oklahoma.

First Merchants reported first-quarter revenues of $193.3 million, a 16.1% increase from a year earlier and 2.5% above analyst expectations. The regional bank also beat earnings-per-share estimates, though net interest income was in line with forecasts. Among the 91 regional banks tracked, UMB Financial posted the strongest quarter with revenues of $744.8 million, up 29.3% and exceeding estimates by 5.4%, while BankUnited was the weakest, with revenues of $273.8 million missing estimates by 5.1%. Stellar Bancorp and Seacoast Banking also reported results, with Stellar beating on revenue, net interest income, and EPS, and Seacoast meeting revenue expectations but missing on tangible book value per share. Overall, the group's revenues were in line with consensus, and share prices have risen an average of 7.8% since the latest earnings.