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 Bank Ever
Legacy Texas should never have sold to Prosperity. The customer service is at Prosperity Bank is the worst. They promised that Legacy accts would be grandfathered in and nothing would change. The checking account I had through Legacy was a no fee acct. Prosperity is now charging me fees on top of fees. I was never notified about any fees and never agreed to this type of account. They also double debited my account a few hundred dollars, and tried to fight me so they didn't have to give me my money back. As far as I'm concerned, Prosperity Bank is stealing from its customers. Beware! If I could give zero stars, I would.
Can It Get Any Worse?
When prosperity took over this became the worse bank I have ever had the displeasure of dealing with. Insane hold times, poor customer service, stone age banking tools. I AM DONE!
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 16835 |
| Year Established | 1949 |
| Employees | 3793 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.65% |
| Return on Equity - YTD | 8.88% |
| Annual Interest Income | $584.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $32.98B$22.38B |
| Loans | Q2 2020vs Q2 2019 | $20.70B$10.50B |
| Deposits | Q2 2020vs Q2 2019 | $26.24B$16.94B |
| Equity Capital | Q2 2020vs Q2 2019 | $6.04B$4.11B |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $324.2MM$87.0MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $70.8MM$38.2MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $6.2MM$2.0MM |
