NYSE$PB
Prosperity Bancshares Inc. · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Prosperity Bancshares, Inc. reported an increase in net income and earnings per share for the fourth quarter of 2022, driven by growth in loans and securities interest income.
Prosperity Bancshares, Inc. reported a net income of $137.9 million for Q4 2022, an increase of 8.7% compared to Q4 2021. Earnings per diluted share rose to $1.51, a 9.4% increase year-over-year. The company saw growth in loans, excluding certain programs, and maintained low nonperforming assets.
- Net income for the fourth quarter reached $137.9 million, with earnings per share (diluted) at $1.51.
- Fourth quarter net income increased by 8.7% compared to the same period in 2021.
- Loans, excluding specific programs, increased by $518.5 million, representing a 3.0% growth during the quarter.
- Nonperforming assets remained low, accounting for 0.08% of fourth quarter average interest-earning assets.
Headline financials
Revenue & EPS history
Prosperity · Revenue · Quarterly
$294M
Revenue by segment
Prosperity · $37.6M total across 9 segments · Q2 2022
- Card Income$8.88M—23.6%
- NSF Fees$8.48M—22.6%
- Other Noninterest Income$7.17M—19.1%
- Deposit Charges$6.37M—16.9%
- Trust Income$2.88M—7.6%
- BOLI Income$1.29M—3.4%
- Net Gain/Loss on Assets$1.11M—2.9%
- Brokerage Income$917K—2.4%
- Mortgage Income$502K—1.3%
Forward guidance
Prosperity expects loan growth to continue in 2023, driven by new loans and existing loans not paying off as quickly. They anticipate the economies in Texas and Oklahoma will outperform other states, leading to increased infrastructure, building, housing, and financing needs.
Tailwinds
- Continued growth in loans is expected in 2023.
- Consumer spending remains strong, particularly in tourism, restaurant, and hospitality sectors.
- Texas and Oklahoma economies are expected to outperform other states.
- Companies and individuals continue to move to Texas and Oklahoma due to lower tax rates and a business-friendly environment.
- Anticipated increase in infrastructure, building, housing, and financing needs.
Headwinds
- Real estate sales and pricing have been affected by the increase in rates.
- Net interest margin at some banks has improved immediately because of higher rates.
- Bond portfolio yielded 1.96% during the fourth quarter of 2022.
- Decrease in PPP fees and interest income of $8.5 million.
- Decrease in loan discount accretion of $4.5 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+0.7%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+2.4%
Avg return
30 days after
57%
39 / 68 earnings
Positive
+15.6%
Q4 2015
Best reaction
-7.4%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.3% | -1.4% | -0.7% | |
| Q4 2025 | -7.4% | -4.4% | -3.5% | |
| Q3 2025 | +2.7% | +5.2% | +8.6% | |
| Q1 2025 | +0.2% | +0.8% | +3.9% | |
| Q4 2024 | -0.7% | -1.8% | -4.0% | |
| Q3 2024 | +1.3% | +2.1% | +16.1% | |
| Q2 2024 | +4.3% | +3.2% | +5.4% | |
| Q1 2024 | +2.3% | -0.2% | -1.0% | |
| Q4 2023 | -0.1% | +2.4% | -3.7% | |
| Q3 2023 | +8.9% | +7.8% | +17.4% | |
| Q2 2023 | +1.4% | +3.3% | -8.2% | |
| Q1 2023 | +5.7% | +3.9% | -1.4% | |
| Q4 2022 | +2.7% | +1.9% | +1.8% | |
| Q3 2022 | -5.1% | -3.3% | +2.9% | |
| Q2 2022 | +0.1% | +2.4% | +0.0% | |
| Q1 2022 | +2.9% | +3.1% | +11.6% | |
| Q4 2021 | -2.8% | -3.5% | -1.9% | |
| Q3 2021 | -1.2% | +3.1% | -4.2% | |
| Q2 2021 | +2.6% | -1.6% | +4.2% | |
| Q1 2021 | -1.9% | -3.6% | -2.6% | |
| Q4 2020 | -0.5% | -0.1% | +7.3% | |
| Q3 2020 | -1.2% | +3.1% | +16.8% | |
| Q2 2020 | +1.7% | +0.6% | +0.4% | |
| Q1 2020 | +10.6% | +7.6% | +20.7% | |
| Q4 2019 | +4.9% | +5.4% | -4.6% | |
| Q3 2019 | +2.4% | +2.4% | -2.4% | |
| Q2 2019 | +2.5% | +1.7% | -6.5% | |
| Q1 2019 | -0.2% | +2.3% | -5.0% | |
| Q4 2018 | +0.1% | +3.2% | +5.2% | |
| Q3 2018 | +0.3% | +3.6% | +10.4% | |
| Q2 2018 | -1.0% | +0.6% | +7.1% | |
| Q1 2018 | -4.7% | -5.3% | -2.6% | |
| Q4 2017 | +1.0% | +1.0% | +1.4% | |
| Q3 2017 | +3.7% | +1.5% | +0.3% | |
| Q2 2017 | -3.9% | -2.8% | -6.2% | |
| Q1 2017 | -2.0% | -3.6% | -9.0% | |
| Q4 2016 | +3.4% | -0.5% | +1.8% | |
| Q3 2016 | -2.0% | -2.3% | +15.7% | |
| Q2 2016 | -3.5% | -7.2% | +1.0% | |
| Q1 2016 | +0.0% | — | — | |
| Q4 2015 | +15.6% | — | — | |
| Q3 2015 | +2.8% | — | — | |
| Q2 2015 | -4.4% | — | — | |
| Q1 2015 | -3.0% | — | — | |
| Q4 2014 | +1.3% | — | — | |
| Q3 2014 | +1.7% | — | — | |
| Q2 2014 | -3.0% | — | — | |
| Q1 2014 | -2.4% | — | — | |
| Q4 2013 | +4.9% | — | — | |
| Q3 2013 | -2.6% | — | — | |
| Q2 2013 | +0.6% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | -1.9% | — | — | |
| Q3 2012 | +6.4% | — | — | |
| Q2 2012 | -1.2% | — | — | |
| Q1 2012 | +0.5% | — | — | |
| Q4 2011 | +3.2% | — | — | |
| Q3 2011 | -4.3% | — | — | |
| Q2 2011 | +2.9% | — | — | |
| Q1 2010 | +1.7% | — | — | |
| Q1 2011 | +1.2% | — | — | |
| Q4 2010 | -1.0% | — | — | |
| Q4 2008 | -1.0% | — | — | |
| Q4 2009 | -1.0% | — | — | |
| Q3 2010 | +2.3% | — | — | |
| Q3 2009 | +2.3% | — | — | |
| Q2 2010 | -0.0% | — | — | |
| Q2 2009 | -0.0% | — | — |
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