Prosperity Bank is a Texas-based subsidiary of Prosperity Bancshares, which is a multi billion-dollar financial holding company located in the state of Texas. The bank offers personal and business banking products and services, as well as investment and trust services.
Prosperity Bank offers several checking accounts, including one designed for teenagers. One checking account option is interest bearing and has minimum initial deposit and daily balance requirements. A savings account and a money market account are available and offer increasing rates of interest that are contingent upon account balances. The money market account actually allows for more debit transactions per month than the savings accounts. Certificates of Deposit (CDs) are offered with a range of term lengths from 30 days to 5 years. IRA accounts provide customers with tax benefits on retirement savings. Depository products are also available on the business banking side and offer similar products and services. Investment solutions range from college 529 plans to mutual funds and annuities.
Prosperity Bank online banking is a separate domain (ProsperityBankUSA.com) that offers a quick and secure way to manage accounts, pay bills, transfer funds, make loan payments, and view check images and past statements. The web-based platform can also integrate personal finance applications or word processing systems to help a depositor with the budgeting process.
Prosperity Bank was originally established in 1949 as the First National Bank of Edna. The bank changed its name to Prosperity in 2001 and is currently headquartered in El Campo, Texas. It serves its customers through numerous branches across several states.
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A Great Bank
I have read the reviews and I can't believe they are real. I have banked with Prosperity Bank for a long time, before they were anything more than a small, hometown bank. I have always been treated with respect and a smile. They treat me and everyone I know like family. We bank with several other bank and they are terrible by comparison.
Best Local Bank In Houston, Texas
In September of 2013, I tried to buy a home for the second time in my life. The first I got cold feet and terminated the contract. Then in 2013, I approached my Realtor again and started the process of buying a home again. She recommended me to a mortgage broker and she was horrible. I called someone from a local Chase Bank and he was not willing to do my loan. Prosperity Bank was my last option (as in the last bank I would try). The loan officer at Prosperity was very courteous and was willing to do all she can to help me. My realtor called and told her the situation and she offered to help me. When I called her and gave her my loan package, I asked her if I was going to get approved. She looked over my file and gave me an answer I didn't expected, she said "We can close in a week". I was relieved! The loan officer was able to apply the left over closing cost paid by the seller toward my down payment. The loan officer was a first class lender and I recently referred my sister to her for a mortgage. I would have moved my entire banking relationship to Prosperity Bank, but I work for a bank so I have to keep banking relationship at my bank.
Worst Service Ever
The fees and products do not matter if the service is this bad. For 4 days the entire bank phone lines have been down. I have emails from 2 supervisors who will not res[pond to my questions. I have been disconnected three times today. When you try the "Contact Us" button on their website, a screen says the page can't be found. I want all of my accounts closed today. I do not trust this bank.
Banking In Stone Age With Lots Of Fees And Charges
Our bank merged with Prosperity. Today is Day 1 after merge completion and nothing works right. Trying to use popmoney to send a payment, first went through verification (which is not a problem), then I found out popmoney is no longer free to us -- there is a service charge per transaction. Then after I submitted the transaction, it said because the verification process was not successful (which is BS), they are putting a hold on the transaction and I have to call to clear it. On top of that, I sent an email to them this morning asking generic information, such as monthly fees, and it took them a day to reply to say that they can not help me via email .... and yes, I have to CALL. What is this? I though this is 2020, and my bank still can't answer simple general questions? My old bank could even answer account specific questions via emails. I looked at their accounts ... everything requires fees or "service charges". For example, the basic saving account only gives 3 debit transactions per month instead of 6 ... and yes, charge for additional transaction. We will be closing our accounts.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 16835 |
| Year Established | 1949 |
| Employees | 3901 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.43% |
| Return on Equity - YTD | 7.8% |
| Annual Interest Income | $836.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $32.18B$22.69B |
| Loans | Q4 2019vs Q4 2018 | $18.76B$10.28B |
| Deposits | Q4 2019vs Q4 2018 | $24.30B$17.28B |
| Equity Capital | Q4 2019vs Q4 2018 | $6.01B$4.04B |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $87.5MM$86.4MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $55.2MM$16.7MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $6.9MM$1.8MM |
