Prosperity Bank to acquire American Bank of Corpus Christi

7/21/2025

Prosperity Bancshares, Inc. (NYSE: PB), parent company of Prosperity Bank, and American Bank Holding Corporation, parent of American Bank, N.A., jointly announced a definitive merger agreement under which Prosperity will acquire American Bank.

American Bank, headquartered in Corpus Christi, operates 18 banking offices and 2 loan production offices across South and Central Texas, including locations in San Antonio, Austin, Victoria, Port Aransas, Rockport, and Houston. As of March 31, 2025, American reported $2.5 billion in assets, $1.8 billion in loans, and $2.3 billion in deposits.

As part of the merger, Stephen Raffaele, CEO and president of American Bank, will become South Texas and San Antonio Area chairman at Prosperity Bank. Ben Wallace, American Bank chairman, will serve as South Texas senior chairman. Additional American Bank leaders will assume key roles within the combined organization.

“Over American Bank’s 50-plus year history of growth and success, we have placed our focus on relationship banking and excellent customer service,” said Stephen Raffaele, CEO and president of American Bank. “We are excited to partner with Prosperity, knowing that they share our approach to customer service and the overall banking business. By joining forces with Prosperity, we will continue our journey of service and success, but with all the advantages of the strength and wherewithal of a combined larger and premier banking institution.”

The merger was unanimously approved by both companies’ Boards of Directors and is expected to close in the fourth quarter of 2025 or the first quarter of 2026.