Prosperity Bancshares Closes Merger With F&M Bancorporation - Quick Facts

(RTTNews) - Prosperity Bancshares, Inc. (PB), the parent company of Prosperity Bank, announced it has completed the merger of F&M Bancorporation Inc. or FMBC with and into Prosperity and the merger of FMBC's wholly owned subsidiary, The F&M Bank & Trust Company, headquartered in Tulsa, Oklahoma, with and into Prosperity Bank, all effective on April 1, 2014.

Under the terms of the definitive agreement, Prosperity issued about 3.3 million shares of Prosperity common stock plus approximately $34.24 million in cash for all outstanding shares of FMBC capital stock.

The company stated that Anthony Davis, Chairman and CEO of FMBC, will serve the combined entity as Chairman, Tulsa Area and Turtle Creek Banking Center and will be responsible for the day-to-day operations and management of all Tulsa, Oklahoma locations and the former F&M Bank Turtle Creek location in Dallas, Texas.