<A David Zalman>: Youre right, when the stock dropped to we felt,
it was unfairly, you just didnt back as big. You didnt say good enough, good things in your analysts. So anyway, when we did, I think a lot of a number of analysts around thought that the bigger deals were not in favor. We felt
that this was a really good deal. We still think its going to be very good. We think that were we think that were underpriced right now.
I feel like our stock should be priced and maybe well see more of that in the next year in the second quarter, third quarter as we
improve the results, but it shouldnt be around $75 or $80 in my opinion, minimum. And that we did buy, when it dropped around the $64, we couldnt buy that first day. But immediately when we could, we started buying every day the maximum
that we could buy.
And we continued to do that until the blackout period. Since the blackout period, we havent bought, I think we
can start buying again, but we havent yet. Were out there and when we did the deal, Kevin we wanted to pay like about 25% in cash and Kevin wanted 10% cash. And so we set our own 15% in cash. So we traded with them at 67. So we
felt like, what a deal, we can still get the we can still put our cash to work and get it even cheaper than what we did the deal at. So if we see that the stock doesnt hold up or pause, well be back in there for sure.
<Q Brady Gailey>: Any questions for Prosperity? Ill ask a couple more. So, David, obviously a big acquisition with Legacy,
youre a very acquisitive company, when do you think youll be out looking at the next deal or are you already?
<A
David Zalman>: In our conference call, I said that we were looking we were talking to probably two or three different banks at this size or bigger. And I said that, we felt that considering everything else, what makes us more valuable as a
franchise or somebody were looking to buy us, to be one of the first and second or second in the market shares in both Houston and Dallas would really make us look a lot better.
So I think what we did there was the best deal. Having said that, I got a call from Jenny Demba at SunTrust and she said, what did you mean,
if youre trying to going to go out and do another deal, I said, thats what were probably looking for some more deal. And I said, what do you think it? And of course, she said, I said, you know me better than my wife does sometimes,
so she said, well, you probably just tried to keep everybody that you were talking to on the line.
I said, well, I think thats
true. We were trying to communicate to the people that we were talking to and maybe the deal didnt go through with them, but it doesnt mean that it wouldnt go through. We feel really good with this merger that were doing.
Kevin and Mays have been great, all of our people, usually when you the two teams start meeting, weve done 42 transactions and I always say 40 of them were great. And usually you can tell when the people start meeting, its going
to be good or not good. If its not good, some of your people start making comments, sending comments, that why do they go blah, blah, blah, like this and that.