Prosperity Bank(R) To Resume Full Operations Along The Gulf Coast After Hurricane Rita
September 25 2005 - 9:31PM
PR Newswire (US)
HOUSTON, Sept. 25 /PRNewswire-FirstCall/ -- All Prosperity Bank(R)
locations along the Gulf Coast will resume operations on Monday,
September 26, 2005 following the coastal evacuation last week in
advance of Hurricane Rita. "I am very pleased to report that our
contingency planning and disaster recovery teams have functioned
appropriately. As a result, we did not experience any interruption
in our critical systems, communications and data support," stated
David Zalman, Chief Executive Officer. Prosperity Bank(R) closed 65
banking centers along the gulf coast on Thursday, September 22,
2005 as Hurricane Rita approached the Texas coast. Ten banking
centers in the Corpus Christi area reopened on Friday as the storm
track turned to the north. All 55 banking centers that were closed
on Friday are expected to reopen on Monday, September 26, 2005. As
of Sunday afternoon, six Prosperity Bank(R) locations were without
power. All six of these locations are expected to reopen on Monday
with limited services. Prosperity Bancshares, Inc.(R) Prosperity
Bancshares(R), a $3.4 billion Houston, Texas based regional
financial holding company, formed in 1983, was named to the Keefe
Bruyette & Woods, Inc. 2005 Honor Roll for achieving
exceptional earnings per share growth for the past 10 years. Other
recent honors include being named to the Sandler O'Neill &
Partners 2005 Bank and Thrift Small All Stars, and the Houston
Chronicle's Houston 100 list. Operating under a community banking
philosophy, Prosperity seeks to develop broad customer
relationships based on service and convenience. Prosperity offers a
variety of traditional loan and deposit products to its customers,
which consist primarily of consumers and small and medium sized
businesses. In addition to established banking products, Prosperity
offers a complete line of services including: Internet Banking
services at http://www.prosperitybanktx.com/, Retail Brokerage
Services, MasterMoney Debit Cards, and 24 hour voice response
banking. Prosperity currently operates eighty-five (85) full
service banking locations, thirty-three (33) in the Houston CMSA;
sixteen (16) in the Corpus Christi area; eleven (11) in the Dallas
area; seven (7) in the Austin area; and eighteen (18) in fifteen
contiguous counties south and southwest of Houston generally along
the NAFTA highway. Prosperity Bank(R) operates the following full
service banking centers: Austin Area - Corpus Christi Downtown West
Columbia Allandale Area - Fairfield Winnie Congress Airline
Gladebrook Lakeway Alameda Heights Oak Hill Carmel Highway 6 South
Texas Area - Research Blvd Everhart Holcombe Bay City Riverside
Northwest Medical Center Beeville William Cannon Saratoga Memorial
Cuero Water Street Midtown East Bernard Woodlawn Post Oak Edna
Dallas Area - Alice River Oaks El Campo Abrams Centre Aransas Pass
Tanglewood Goliad Camp Wisdom Kingsville Waugh Drive Gonzales Kiest
Mathis Westheimer Hallettsville Preston Road Port Aransas Woodcreek
Palacios Turtle Creek Portland Angleton Port Lavaca Westmoreland
Rockport Clear Lake Seguin Blooming Grove Sinton Cleveland Victoria
Cedar Hill Dayton Victoria - Navarro Corsicana Galveston Victoria -
North Ennis Houston Area - Hitchcock Wharton Red Oak Aldine Liberty
Yoakum Bellaire Magnolia Yorktown City West Mont Belvieu
Copperfield Needville Cypress Sweeny "Safe Harbor" Statement under
the Private Securities Litigation Reform Act of 1995: This release
contains, and the remarks by our management on the conference call
may contain, forward-looking statements within the meaning of the
securities laws that are based on current expectations,
assumptions' estimates and projections about Prosperity
Bancshares(R), and its subsidiaries. These forward-looking
statements are not guarantees of future performance and are subject
to risks and uncertainties, many of which are outside of
Prosperity's control, that may cause actual results to differ
materially from those expressed or implied by the forward-looking
statements. These risks and uncertainties include whether we can:
continue to sustain our current internal growth rate or our total
growth rate; successfully close and integrate acquisitions;
continue to provide products and services that appeal to our
customers; continue to have access to the debt and equity capital
we need to sustain our growth; and achieve our sales objectives.
Other risks include the possibility that credit quality could
deteriorate; actions of competitors; changes in laws and
regulations (including changes in governmental interpretations of
regulations and changes in accounting standards); customer and
consumer demand, including customer and consumer response to
marketing; effectiveness of spending, investments or programs;
fluctuations in the cost and availability of supply chain
resources; economic conditions, including currency rate
fluctuations and interest rate fluctuations; weather; and the stock
price volatility associated with "small- cap" companies. These and
various other factors are discussed in our most recent Annual
Report on Form 10-K and other reports and statements we have filed
with the SEC. Copies of Prosperity Bancshares's (R) SEC filings may
be downloaded from the Internet at no charge from
http://www.prosperitybanktx.com/. DATASOURCE: Prosperity
Bancshares, Inc. CONTACT: Dan Rollins, President of Prosperity
Bank, +1-713-693-9300, Web site: http://www.prosperitybanktx.com/
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