Short answer
Prosperity Bancshares Inc (PB) filed its fiscal 2017 10-K annual report with the SEC on Feb 28, 2018. It reported revenue of $677M (+0.2% year over year) and net income of $272M.
- Top risk flagged: Dodd-Frank Act and banking-agency supervision: regulatory changes, sanctions, or civil penalties affecting lending, capital, dividends, and growth
FY2017 key financial metrics · XBRL
- Revenue
- $677M
- +0.2% YoY
- Net income
- $272M
- −0.8% YoY
- EPS (diluted)
- $3.92
- −0.5% YoY
- ROE
- 7.1%
- −0.4 pp YoY
- Operating cash flow
- $391M
- +16.9% YoY
Source: XBRL data from the Prosperity Bancshares Inc (PB) FY2017 10-K on SEC EDGAR. USD.
Prosperity Bancshares Inc FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Community banking model serving consumers and small and medium-sized businesses through localized decision-making and diversified financial services
- Expanded footprint to 242 full-service locations across Texas and Oklahoma, including 8 Tulsa-area offices
- Loan portfolio growth emphasized construction and land development, up 19.4% to 15.1% of total loans
- Workforce totaled 3,017 full-time equivalent associates, including 790 bank officers
- Distinctive regulatory scale: assets above $10 billion triggered CFPB oversight and annual stress-testing requirements
Management Discussion & Analysis
- Revenue $733.5M, down 2.3% YoY, with net interest income $616.9M and noninterest income $116.6M
- Net income $272.2M vs $274.5M, net interest margin 3.19% vs 3.35%, efficiency ratio 42.76% vs 42.50%
- Strongest segment: commercial real estate loans $3.32B, up from $3.16B; weakest: commercial and industrial loans $1.48B, down from $1.54B
- Cash $392.3M, dividends $95.9M, capital expenditures not material; shareholders’ equity $3.82B
- Outlook risks: interest-rate volatility, deposit and loan competition, credit deterioration, acquisition integration, cybersecurity threats
Risk Factors
- Dodd-Frank Act and banking-agency supervision: regulatory changes, sanctions, or civil penalties affecting lending, capital, dividends, and growth
- Texas and Oklahoma oil exposure: oil-price volatility threatening borrower repayment, collateral values, and nonperforming loans
- Real-estate concentration: 80.5% of loans in real-estate portfolios, including $5.30 billion in commercial real estate and commercial loans
- Technology disruption: non-bank competitors and mobile financial services threatening deposits, fee income, and customer relationships
- Goodwill impairment: $1.90 billion recorded at December 31, 2017, exposed to future acquisition-related write-downs
Generated from the filing text; verify against the original. How to read a 10-K
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