On April 17, Prosperity Bancshares Inc., the parent company of El Campo-based Prosperity Bank, announced that it has received all regulatory approvals necessary to complete its previously announced acquisition of First Bancshares of Texas Inc., the parent company of Midland-based FirstCapital Bank of Texas NA. The merger is expected to be effective as of May 1.
FirstCapital banking locations will continue to operate under the FirstCapital Bank of Texas name until the operational integration, which is scheduled for May 15. At that time, FirstCapital customers may begin using any of Prosperity Bank’s combined 286 banking centers.
FirstCapital Bank operates 16 banking centers in six markets, including Midland, Lubbock, Amarillo, Wichita Falls, Burkburnett, Byers, Henrietta, Dallas, Horseshoe Bay, Marble Falls and Fredericksburg. As of December 31, 2022, First Bancshares of Texas reported total assets of $2.16 billion, total loans of $1.64 billion and total deposits of $1.80 billion.
Established in 1983, Prosperity Bancshares Inc. is a $37.69 billion regional financial holding company serving consumers and businesses throughout Texas and Oklahoma.