Prosperity Bancshares Inc (PB) Q2 2015 10-Q Quarterly Earnings

Short answer

Prosperity Bancshares Inc (PB) filed its Q2 2015 10-Q quarterly report on Aug 7, 2015 for the quarter ended Jun 30, 2015.

AI summary of MD&A and risk factor updates

Quarterly net income $71.9M, down 4.7% YoY from $75.5M
Tax-equivalent net interest margin 3.39% vs 3.83% YoY
Net interest income $158.2M, down 9.1% YoY from $174.1M
Securities grew to $9.70B, up 7.2% from December 31, 2014
Cash and equivalents $354.5M, down $323.4M, reflecting $3.33B securities purchases and $167.5M debenture redemption

No 10-Q risk-factor changes identified, filing text consists of an employment agreement
Confidentiality risk: unauthorized disclosure of proprietary information, including Liberty Bank acquisition information
Legal risk: 12-month non-compete covering Austin and specified surrounding counties
Employment obligation risk: termination without Cause triggers payment of salary and benefits through the agreement term
Change-of-control risk: Prosperity Bank sale and senior-management change void the 12-month non-compete

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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