Prosperity Bancshares Q1 Profit Rises - Quick Facts

(RTTNews) - Prosperity Bancshares Inc. (PB), the parent company of Prosperity Bank, reported first-quarter net income of $67.14 million or $1.01 per share, compared to $49.30 million, or $0.86 per share, previous year.

On average, 17 analysts pollled by Thomson Reuters expected the company to report profit per share of $0.99 for the quarterr. Analyst's estimates typically exclude special items.

Net interest income before provision for credit losses increased 32.9% to $143.69 million compared with $108.08 million during the same period in 2013. Noninterest income increased 22.0% to $28.60 million, compared with $23.44 million, a year ago. Analysts expected revenue of $173.11 million for the quarter.

Prosperity Bancshares, Inc. declared a second quarter cash dividend of $0.240, to be paid on July 1, 2014 to all shareholders of record as of June 16, 2014.