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HOUSTON, October 26, 2022. Prosperity Bancshares, Inc.^® (NYSE: PB), the parent company of Prosperity Bank^® (collectively, “Prosperity”), reported net income of $135.8 million for the quarter ended September 30, 2022 compared with $128.6 million for the same period in 2021. Net income per diluted common share was $1.49 for the quarter ended September 30, 2022 compared with $1.39 for the same period in 2021, an increase of 7.2%, and the annualized return on third quarter average assets was 1.45%. Additionally, loans, excluding Warehouse Purchase Program and SBA Paycheck Protection Program (“PPP”) loans, increased $530.8 million or 3.1% (12.5% annualized) during the third quarter of 2022. Nonperforming assets remain low at 0.06% of third quarter average interest-earning assets.

“This is an exciting time for Prosperity. On October 11, 2022, we announced the signing of definitive merger agreements with First Bancshares of Texas, Inc., headquartered in Midland, Texas and Lone Star State Bancshares, Inc., headquartered in Lubbock, Texas. On a pro forma basis, we will have over $6 billion in assets located in our West Texas market, and the number one market share in the combined Midland and Odessa markets and the number three market share in Lubbock,” said David Zalman, Prosperity’s Senior Chairman and Chief Executive Officer.

“We also recently announced that the Board of Directors voted to increase the fourth quarter 2022 dividend to $0.55 a share. This represents a 6.0% increase in dividends declared in 2022 compared with 2021. The increase reflects the confidence the Board has in the continuing success of our company and in the communities we serve,” continued Zalman.

“With the Federal Reserve continuing to raise rates, our net interest margin continues to increase, which improves our earnings. This trend should continue as our assets reprice over time. We saw strong loan growth for the quarter, with loans, excluding Warehouse Purchase Program and PPP loans, increasing 12.5% on an annualized basis. Our asset quality continues to be one of the best in banking with nonperforming assets of 0.06% of quarterly average interest-earning assets as of September 30, 2022,” added Zalman.

“Individuals and businesses continue to move to Texas and Oklahoma because of lower tax rates and a pro-business political environment,” stated Zalman.

“We are excited with our performance and the recently announced merger transactions and look forward to continuing to build our company. I want to thank our customers for their business and loyalty and our associates and board members for their work and dedication,” concluded Zalman.

Net income was $135.8 million⁽²⁾ for the three months ended September 30, 2022 compared with $128.6 million⁽³⁾ for the same period in 2021, an increase of $7.2 million or 5.6%. The change was primarily due to an increase in securities interest income, partially offset by a decrease in loan interest income (including a decrease in PPP fees and interest income of $13.9 million), a decrease in loan discount accretion of $4.1 million, and an increase in interest expense. Net income per diluted common share was $1.49 for the three months ended September 30, 2022 compared with $1.39 for the same period in 2021. On a linked quarter basis, net income was $135.8 million⁽²⁾ for the three months ended September 30, 2022 compared with $128.5 million⁽⁴⁾ for the three months ended June 30, 2022, an increase of $7.3 million or 5.7%. The change was primarily due to an increase in loan interest income and securities interest income, partially offset by an increase in interest expense. Net income per diluted common share was $1.49 for the three months ended September 30, 2022 compared with $1.40 for the three months ended June 30, 2022. Annualized returns on average assets, average common equity and average tangible common equity for the three months ended September 30, 2022 were 1.45%, 8.24% and 16.44%⁽¹⁾, respectively. Prosperity’s efficiency ratio (excluding net gains and losses on the sale or write down of assets and securities) was 41.38%⁽¹⁾ for the three months ended September 30, 2022.

Net interest income before provision for credit losses for the three months ended September 30, 2022 was $260.7 million compared with $248.6 million for the same period in 2021, an increase of $12.1 million or 4.9%. The change was primarily due to an increase in the average balance and average rates on investment securities and an increase in the average balance on loans held for investment, partially offset by a decrease in loan discount accretion of $4.1 million, a decrease in PPP fees and interest income of $13.9 million, and an increase in the average rates on interest-bearing liabilities. On a linked quarter basis, net interest income before provision for credit losses was $260.7 million compared with $248.5 million for the three months ended June 30, 2022, an increase of $12.2 million or 4.9%. The change was primarily due to an increase in the average balances and average rates on loans and average rates on investment securities, partially offset by an increase in the average rates on interest-bearing liabilities.

The net interest margin on a tax equivalent basis was 3.11% for the three months ended September 30, 2022 compared with 3.10% for the same period in 2021 and 2.97% for the three months ended June 30, 2022. The linked quarter increase was primarily due to higher average balances and average rates on loans and average rates on investment securities, partially offset by an increase in the average rates on interest-bearing liabilities.

Noninterest income was $34.7 million for the three months ended September 30, 2022 compared with $34.6 million for the same period in 2021. On a linked quarter basis, noninterest income was $34.7 million compared with $37.6 million for the three months ended June 30, 2022, a decrease of $2.9 million or 7.7%, primarily due to decreases in net gain on the sale or write-down of assets and other noninterest income.

Noninterest expense was $122.2 million for the three months ended September 30, 2022 compared with $119.8 million for the same period in 2021, an increase of $2.4 million or 2.0%, primarily due to an increase in salaries and credit and debit card, data processing and software amortization. On a linked quarter basis, noninterest expense decreased $664 thousand to $122.2 million compared with $122.9 million for the three months ended June 30, 2022.

Net income was $386.6 million⁽⁵⁾ for the nine months ended September 30, 2022 compared with $392.5 million⁽⁶⁾ for the same period in 2021. Net income per diluted common share was $4.22 for the nine months ended September 30, 2022 compared with $4.23 for the same period in 2021. Annualized returns on average assets, average common equity and average tangible common equity for the nine months ended September 30, 2022 were 1.37%, 7.88% and 15.83%⁽¹⁾, respectively. Prosperity’s efficiency ratio (excluding net gains and losses on the sale or write down of assets and securities) was 42.70%⁽¹⁾ for the nine months ended September 30, 2022.

Net interest income before provision for credit losses for the nine months ended September 30, 2022 was $749.1 million compared with $748.5 million for the prior year, an increase of $546 thousand.

The net interest margin on a tax equivalent basis for the nine months ended September 30, 2022 was 2.99% compared with 3.20% for the same period in 2021. The change was primarily due to a decrease in loan discount accretion of $27.4 million and a decrease in PPP fees and interest income of $36.1 million, partially offset by an increase in the average balances and rates on investment securities and a decrease in the average rate on interest-bearing liabilities.

Noninterest income was $107.4 million for the nine months ended September 30, 2022 compared with $104.2 million for the same period in 2021, an increase of $3.2 million or 3.1%. The increase was primarily due to an increase in NSF income, a net gain on the sale or write-down of assets and an increase in trust income, partially offset by a decrease in mortgage income.

Noninterest expense was $364.9 million for the nine months ended September 30, 2022 compared with $354.1 million for the same period in 2021, an increase of $10.9 million or 3.1%. The increase was primarily due to an increase in salaries and benefits, the change in net loss (gain) on sale or write-down of other real estate and an increase in credit and debit card and data processing expense.

At September 30, 2022, Prosperity had $37.844 billion in total assets, an increase of $1.331 billion or 3.6%, compared with $36.512 billion at September 30, 2021.

Loans at September 30, 2022 were $18.506 billion, a decrease of $451.4 million or 2.4%, compared with $18.958 billion at September 30, 2021, primarily due to decreases in Warehouse Purchase Program, PPP and commercial real estate loans, partially offset by increases in 1-4 family residential and construction, land development and other land loans. Linked quarter loans increased $297.4 million or 1.6% (6.5% annualized) from $18.209 billion at June 30, 2022. Excluding Warehouse Purchase Program and PPP loans, loans at September 30, 2022 were $17.575 billion compared to $16.594 billion at September 30, 2021, an increase of $980.7 million or 5.9%. Linked quarter loans, excluding Warehouse Purchase Program and PPP loans, increased $530.8 million or 3.1% (12.5% annualized) from $17.044 billion at June 30, 2022.

As part of its lending activities, Prosperity extends credit to oil and gas production and servicing companies. Oil and gas production loans are loans to companies directly involved in the exploration and/or production of oil and gas. Oil and gas servicing loans are loans to companies that provide services for oil and gas production and exploration. At September 30, 2022, oil and gas loans totaled $410.1 million (net of discount and excluding PPP loans totaling $4.7 million) or 2.2% of total loans, of which $190.3 million were production loans and $219.7 million were servicing loans, compared with total oil and gas loans of $569.3 million (net of discount and excluding PPP loans totaling $55.8 million) or 3.0% of total loans at September 30, 2021, of which $352.4 million were production loans and $216.9 million were servicing loans. In addition, as of September 30, 2022, Prosperity had total unfunded commitments to oil and gas companies of $463.3 million compared with total unfunded commitments to oil and gas companies of $363.3 million as of September 30, 2021. Unfunded commitments to producers include letters of credit issued in lieu of oil well plugging bonds.

Deposits at September 30, 2022 were $29.300 billion, a decrease of $151.6 million or 0.5%, compared with $29.452 billion at September 30, 2021. Linked quarter deposits decreased $565.5 million or 1.9% from $29.866 billion at June 30, 2022, primarily due to a decrease in public fund deposits. Prosperity generally experiences seasonality with its public fund deposits, as public fund customers use the tax dollars they receive in December and January throughout the year, resulting in lower deposit balances in the second and third quarters of the year. On a linked quarter basis, noninterest-bearing deposits increased by $122.0 million.

Nonperforming assets totaled $19.9 million or 0.06% of quarterly average interest-earning assets at September 30, 2022 compared with $36.5 million or 0.11% of quarterly average interest-earning assets at September 30, 2021 and $22.2 million or 0.07% of quarterly average interest-earning assets at June 30, 2022.

The allowance for credit losses on loans and off-balance sheet credit exposures was $312.1 million at September 30, 2022 compared with $317.1 million at September 30, 2021 and $313.9 million at June 30, 2022. There was no provision for credit losses for the three and nine months ended September 30, 2022 and 2021.

The allowance for credit losses on loans was $282.2 million or 1.52% of total loans at September 30, 2022 compared with $287.2 million or 1.51% of total loans at September 30, 2021 and $284.0 million or 1.56% of total loans at June 30, 2022. Excluding Warehouse Purchase Program and PPP loans, the allowance for credit losses on loans to total loans was 1.61%⁽¹⁾ at September 30, 2022 compared with 1.73%⁽¹⁾ at September 30, 2021 and 1.67%⁽¹⁾ at June 30, 2022.

Net charge-offs were $1.8 million for the three months ended September 30, 2022 compared with net charge-offs of $15.7 million for the three months ended September 30, 2021 and net charge-offs of $1.2 million for the three months ended June 30, 2022. During the third quarter of 2022, net charge-offs did not include any purchased credit deteriorated (“PCD”) loans and $16 thousand of specific reserves on resolved PCD loans was released to the general reserve.

Net charge-offs were $4.2 million for the nine months ended September 30, 2022 compared with $28.9 million for the nine months ended September 30, 2021. Net charge-offs for the nine months ended September 30, 2022 did not include any PCD loans and $2.0 million of specific reserves on resolved PCD loans was released to the general reserve during the period.

Prosperity Bancshares declared a fourth quarter cash dividend of $0.55 per share to be paid on January 3, 2023, to all shareholders of record as of December 15, 2022, an increase of $0.03 per share, or 5.8%, from the prior quarter.

On January 18, 2022, Prosperity Bancshares announced a stock repurchase program under which up to 5%, or approximately

4.61 million shares, of its outstanding common stock may be acquired over a one-year period expiring on January 18, 2023, at the discretion of management. Under its 2022 stock repurchase program, Prosperity Bancshares repurchased zero shares of its common stock during the three months ended September 30, 2022 and 981,884 shares of its common stock at an average weighted price of $66.90 per share during the nine months ended September 30, 2022.

On October 11, 2022, Prosperity Bancshares and First Bancshares of Texas, Inc. (“First Bancshares”) jointly announced the signing of a definitive merger agreement whereby First Bancshares, the parent company of FirstCapital Bank of Texas, N.A., (“FirstCapital Bank”) will merge with and into Prosperity. FirstCapital Bank operates 16 banking offices in 6 different markets in West, North and Central Texas areas, including its main office in Midland, and banking offices in Midland, Lubbock, Amarillo, Wichita Falls, Burkburnett, Byers, Henrietta, Dallas, Horseshoe Bay, Marble Falls and Fredericksburg, Texas. As of June 30, 2022, First Bancshares, on a consolidated basis, reported total assets of $2.121 billion, total loans of $1.589 billion and total deposits of $1.781 billion.

Under the terms of the merger agreement, Prosperity will issue 3,583,370 shares of Prosperity common stock plus $93.4 million in cash for all outstanding shares of First Bancshares capital stock, subject to certain conditions and potential adjustments. Based on Prosperity’s closing price of $69.27 on October 7, 2022, the total consideration was valued at approximately $341.6 million. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals and approval of the shareholders of First Bancshares. The transaction is expected to close during the first quarter of 2023, although delays could occur.

On October 11, 2022, Prosperity Bancshares and Lone Star State Bancshares, Inc. (“Lone Star”) jointly announced the signing of a definitive merger agreement whereby Lone Star, the parent company of Lone Star State Bank of West Texas (“Lone Star Bank”) will merge with and into Prosperity. Lone Star Bank operates 5 banking offices in the West Texas area, including its main office in Lubbock, and 1 banking center in each of Brownfield, Midland, Odessa and Big Spring, Texas. As of June 30, 2022, Lone Star, on a consolidated basis, reported total assets of $1.305 billion, total loans of $933.5 million and total deposits of $1.174 billion.

Under the terms of the merger agreement, Prosperity will issue 2,376,182 shares of Prosperity common stock plus $64.1 million in cash for all outstanding shares of Lone Star capital stock, subject to certain conditions and potential adjustments. Based on Prosperity’s closing price of $69.27 on October 7, 2022, the total consideration was valued at approximately $228.7 million. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals and approval of the shareholders of Lone Star. The transaction is expected to close during the first quarter of 2023, although delays could occur.

Prosperity’s management team will host a conference call on Wednesday, October 26, 2022, at 11:30 a.m. Eastern Time (10:30 a.m. Central Time) to discuss Prosperity’s third quarter 2022 earnings. Individuals and investment professionals may participate in the call by dialing 877-883-0383 for domestic participants, or 412-902-6506 for international participants. The participant elite entry number is 7408913.

Alternatively, individuals may listen to the live webcast of the presentation by visiting Prosperity’s website at www.prosperitybankusa.com. The webcast may be accessed from Prosperity’s home page by selecting “Presentations, Webcasts & Calls” from the menu on the Investor Relations link and following the instructions.

Prosperity’s management uses certain non-GAAP financial measures to evaluate its performance. Specifically, Prosperity reviews return on average tangible common equity; tangible book value per share; the tangible equity to tangible assets ratio; allowance for credit losses on loans to total loans excluding Warehouse Purchase Program and PPP loans; and the efficiency ratio excluding net gains and losses on the sale or write down of assets and securities, for internal planning and forecasting purposes. Prosperity believes these non-GAAP financial measures provide information useful to investors in understanding Prosperity’s financial results and their presentation, together with the accompanying reconciliations, provides a more complete understanding of factors and trends affecting Prosperity’s business and allows investors to view performance in a manner similar to management, the entire financial services sector, bank stock analysts and bank regulators. Further, Prosperity believes that these non-GAAP financial measures provide useful information by excluding certain items that may not be indicative of its core operating earnings and business outlook. These non-GAAP financial measures should not be considered a substitute for, nor of greater importance than, GAAP basis financial measures and results; Prosperity strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Please refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of these non-GAAP financial measures to the nearest respective GAAP financial measures.

As of September 30, 2022, Prosperity Bancshares, Inc.^® is a $37.844 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses and communities in the areas it serves by providing financial solutions to simplify everyday financial needs. In addition to offering traditional deposit and loan products, Prosperity offers digital banking solutions, credit and debit cards, mortgage services, retail brokerage services, trust and wealth management, and treasury management.

Prosperity currently operates 272 full-service banking locations: 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 62 in the Dallas/Fort Worth area; 22 in the East Texas area; 29 in the Central Texas area including Austin and San Antonio; 34 in the West Texas area including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release contains, and the remarks by Prosperity’s management on the conference call may contain, forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. From time to time, oral or written forward-looking statements may also be included in other information released to the public. Such forward-looking statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “goal,” “guidance,” “intend,” “is anticipated,” “is expected,” “is intended,” “objective,” “plan,” “projected,” “projection,” “will affect,” “will be,” “will continue,” “will decrease,” “will grow,” “will impact,” “will increase,” “will incur,” “will reduce,” “will remain,” “will result,” “would be,” variations of such words or phrases (including where the word “could,” “may,” or “would” is used rather than the word “will” in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. Forward-looking statements include all statements other than statements of historical fact, including forecasts or trends, and are based on current expectations, assumptions, estimates and projections about Prosperity Bancshares and its subsidiaries. These forward-looking statements may include information about Prosperity’s possible or assumed future economic performance or future results of operations, including future revenues, income, expenses, provision for loan losses, provision for taxes, effective tax rate, earnings per share and cash flows and Prosperity’s future capital expenditures and dividends, future financial condition and changes therein, including changes in Prosperity’s loan portfolio and allowance for loan losses, future capital structure or changes therein, as well as the plans and objectives of management for Prosperity’s future operations, future or proposed acquisitions, the future or expected effect of acquisitions on Prosperity’s

operations, results of operations, financial condition, and future economic performance, statements about the anticipated benefits of each of the proposed transactions, and statements about the assumptions underlying any such statement, as well as expectations regarding the effects of the COVID-19 pandemic on Prosperity’s operating income, financial condition and cash flows. These forward‑looking statements are not guarantees of future performance and are based on expectations and assumptions Prosperity currently believes to be valid. Because forward-looking statements relate to future results and occurrences, many of which are outside of Prosperity’s control, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Many possible events or factors could adversely affect the future financial results and performance of Prosperity, First Bancshares, Lone Star or the combined company and could cause those results or performance to differ materially from those expressed in or implied by the forward-looking statements. Such risks and uncertainties include, among others: the occurrence of any event, change or other circumstance that could give rise to the right of a party to terminate the merger agreement with First Bancshares or Lone Star, as applicable, the outcome of any legal proceedings that may be instituted against Prosperity, First Bancshares or Lone Star, delays in completing either of the transactions, the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of each of the transactions) or First Bancshares shareholder approval or Lone Star shareholder approval or to satisfy any of the other conditions to the transactions on a timely basis or at all, the possibility that the anticipated benefits of the transactions are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors generally, or specifically in the West Texas area and the West, North and Central Texas area where First Bancshares and Lone Star, respectively, do a majority of their respective business and Prosperity has a significant presence, the possibility that the transactions may be more expensive to complete than anticipated, including as a result of unexpected factors or events, diversion of management’s attention from ongoing business operations and opportunities, potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transactions, Prosperity’s ability to complete the acquisition and integration of First Bancshares and of Lone Star successfully, and the dilution caused by Prosperity’s issuance of additional shares of its common stock in connection with the transactions. Prosperity disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. These and various other factors are discussed in Prosperity’s Annual Report on Form 10-K for the year ended December 31, 2021, and other reports and statements Prosperity has filed with the Securities and Exchange Commission (“SEC”). Copies of the SEC filings for Prosperity may be downloaded from the Internet at no charge from http://www.prosperitybankusa.com.

In connection with the proposed merger of First Bancshares into Prosperity, Prosperity will file with the SEC a registration statement on Form S-4 to register the shares of Prosperity common stock to be issued to the shareholders of First Bancshares. The registration statement will include a proxy statement/prospectus which will be sent to the shareholders of First Bancshares seeking their approval of the proposed transaction.

WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT PROSPERITY, FIRST BANCSHARES AND THE PROPOSED TRANSACTION.

Investors and security holders may obtain free copies of these documents through the website maintained by the SEC at http://www.sec.gov. You will also be able to obtain these documents, when they are filed, free of charge, from Prosperity at http://www.prosperitybankusa.com. Copies of the proxy statement/prospectus can also be obtained, when it becomes available, free of charge, by directing a request by telephone or mail to Prosperity Bancshares, Inc., Prosperity Bank Plaza, 4295 San Felipe, Houston, Texas 77027 Attn: Investor Relations, (281) 269-7199 or to First Bancshares of Texas, Inc., 310 West Wall Street, Suite 1200, Midland, Texas 79701, Attention: Ken Burgess, (844) 322-8392.

In connection with the proposed merger of Lone Star into Prosperity, Prosperity will file with the SEC a registration statement on Form S-4 to register the shares of Prosperity common stock to be issued to the shareholders of Lone Star. The registration statement will include a proxy statement/prospectus which will be sent to the shareholders of Lone Star seeking their approval of the proposed transaction.

Investors and security holders may obtain free copies of these documents through the website maintained by the SEC at http://www.sec.gov. You will also be able to obtain these documents, when they are filed, free of charge, from Prosperity at http://www.prosperitybankusa.com. Copies of the proxy statement/prospectus can also be obtained, when it becomes available, free of charge, by directing a request by telephone or mail to Prosperity Bancshares, Inc., Prosperity Bank Plaza, 4295 San Felipe, Houston, Texas 77027 Attn: Investor Relations, (281) 269-7199 or to Lone Star State Bancshares, Inc., 6220 Milwaukee Avenue, Lubbock, Texas 79424, Attention: Alan Lackey, (806) 771-7717.

Prosperity, First Bancshares and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of First Bancshares in connection with the proposed transaction. Certain information regarding the interests of these participants and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus regarding the proposed transaction when it becomes available.

Prosperity, Lone Star and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Lone Star in connection with the proposed transaction. Certain information regarding the interests of these participants and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus regarding the proposed transaction when it becomes available.

Additional information about Prosperity and its directors and executive officers may be found in the definitive proxy statement of Prosperity relating to its 2022 Annual Meeting of Shareholders filed with the SEC on March 14, 2022, and other documents filed by Prosperity with the SEC. These documents can be obtained free of charge from the sources described above.

This communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, or the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, invitation, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

Bryan/College Station Area	Garland	Palestine	Magnolia	Texas Tech Student Union
Bryan	Grapevine	Rusk	Magnolia Parkway
Bryan-29^th Street	Grapevine Main	Seven Points	Mont Belvieu	Midland
Bryan-East	Kiest	Teague	Nederland	Wadley
Bryan-North	Lake Highlands	Tyler-Beckham	Needville	Wall Street
Caldwell	McKinney	Tyler-South Broadway	Rosenberg
College Station	McKinney Eldorado	Tyler-University	Shadow Creek	Odessa
Crescent Point	McKinney Redbud	Winnsboro	Spring	Grandview
Hearne	North Carrolton		Tomball	Grant
Huntsville	Park Cities	Houston Area	Waller	Kermit Highway
Madisonville	Plano	Houston	West Columbia	Parkway
Navasota	Plano-West	Aldine	Wharton
New Waverly	Preston Forest	Alief	Winnie	Other West Texas Area
Rock Prairie	Preston Parker	Bellaire	Wirt	Locations
Southwest Parkway	Preston Royal	Beltway		Big Spring
Tower Point	Red Oak	Clear Lake	South Texas Area -	Brownfield
Wellborn Road	Richardson	Copperfield	Corpus Christi	Brownwood
	Richardson-West	Cypress	Calallen	Cisco
Central Texas Area	Rosewood Court	Downtown	Carmel	Comanche
Austin	The Colony	Eastex	Northwest	Early
Allandale	Tollroad	Fairfield	Saratoga	Floydada
Cedar Park	Trinity Mills	First Colony	Timbergate	Gorman
Congress	Turtle Creek	Fry Road	Water Street	Levelland
Lakeway	West 15th Plano	Gessner		Littlefield
Liberty Hill	West Allen	Gladebrook	Victoria	Merkel
Northland	Westmoreland	Grand Parkway	Victoria Main	Plainview
Oak Hill	Wylie	Heights	Victoria-Navarro	San Angelo
Research Blvd		Highway 6 West	Victoria-North	Slaton
Westlake	Fort Worth	Little York	Victoria Salem	Snyder
	Haltom City	Medical Center
Other Central Texas Area	Hulen	Memorial Drive	Other South Texas Area	Oklahoma
Locations	Keller	Northside	Locations	Central Oklahoma Area
Bastrop	Museum Place	Pasadena	Alice	Oklahoma City
Canyon Lake	Renaissance Square	Pecan Grove	Aransas Pass	23^rdStreet
Dime Box	Roanoke	Pin Oak	Beeville	Expressway
Dripping Springs	Stockyards	River Oaks	Colony Creek	I-240
Elgin		Sugar Land	Cuero	Memorial
Flatonia	Other Dallas/Fort Worth Area	SW Medical Center	Edna
Georgetown	Locations	Tanglewood	Goliad	Other Central Oklahoma Area
Gruene	Arlington	The Plaza	Gonzales	Locations
Kingsland	Azle	Uptown	Hallettsville	Edmond
La Grange	Ennis	Waugh Drive	Kingsville	Norman
Lexington	Gainesville	Westheimer	Mathis
New Braunfels	Glen Rose	West University	Padre Island	Tulsa Area
Pleasanton	Granbury	Woodcreek	Palacios	Tulsa
Round Rock	Grand Prairie		Port Lavaca	Garnett
San Antonio	Jacksboro	Katy	Portland	Harvard
Schulenburg	Mesquite	Cinco Ranch	Rockport	Memorial
Seguin	Muenster	Katy-Spring Green	Sinton	Sheridan
Smithville	Runaway Bay		Taft	S. Harvard
Thorndale	Sanger	The Woodlands	Yoakum	Utica Tower
Weimar	Waxahachie	The Woodlands-College Park	Yorktown	Yale
	Weatherford	The Woodlands-I-45
Dallas/Fort Worth Area		The Woodlands-Research Forest	West Texas Area	Other Tulsa Area Locations
Dallas	East Texas Area		Abilene	Owasso
14th Street Plano	Athens	Other Houston Area	Antilley Road
Abrams Centre	Blooming Grove	Locations	Barrow Street
Addison	Canton	Angleton	Cypress Street
Allen	Carthage	Bay City	Judge Ely
Balch Springs	Corsicana	Beaumont	Mockingbird
Camp Wisdom	Crockett	Cleveland
Carrollton	Eustace	East Bernard	Lubbock
Cedar Hill	Gilmer	El Campo	4th Street
Coppell	Grapeland	Dayton	66th Street
East Plano	Gun Barrel City	Galveston	82nd Street
Euless	Jacksonville	Groves	86th Street
Frisco	Kerens	Hempstead	98^th Street
Frisco Warren	Longview	Hitchcock	Avenue Q
Frisco-West	Mount Vernon	Liberty	North University

	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021
Balance Sheet Data (at period end)
Loans held for sale	$	2,871		$	3,350		$	2,810		$	7,274		$	10,197
Loans held for investment		17,580,653			17,067,871			16,720,173			16,833,171			16,949,486
Loans held for investment - Warehouse Purchase Program		922,764			1,137,623			1,344,541			1,775,699			1,998,049
Total loans		18,506,288			18,208,844			18,067,524			18,616,144			18,957,732

Investment securities^(A)		14,806,487			14,912,313			14,798,127			12,818,901			12,629,368
Federal funds sold		244			201			274			241			237
Allowance for credit losses on loans		(282,179	)		(283,959	)		(285,163	)		(286,380	)		(287,187	)
Cash and due from banks		602,152			393,716			1,560,321			2,547,739			1,055,386
Goodwill		3,231,636			3,231,636			3,231,636			3,231,636			3,231,636
Core deposit intangibles, net		53,906			56,483			59,064			61,684			64,539
Other real estate owned		1,758			1,555			1,705			622			150
Fixed assets, net		337,099			335,939			336,075			319,799			322,799
Other assets		586,111			530,528			501,623			523,584			537,459
Total assets	$	37,843,502		$	37,387,256		$	38,271,186		$	37,833,970		$	36,512,119

Noninterest-bearing deposits	$	11,154,143		$	11,032,184		$	10,776,652		$	10,750,034		$	10,326,489
Interest-bearing deposits		18,145,952			18,833,434			20,291,658			20,021,728			19,125,163
Total deposits		29,300,095			29,865,618			31,068,310			30,771,762			29,451,652
Other borrowings		1,165,000			300,000			—			—			—
Securities sold under repurchase agreements		454,304			481,785			440,891			448,099			440,969
Allowance for credit losses on off-balance sheet credit exposures		29,947			29,947			29,947			29,947			29,947
Other liabilities		282,514			188,079			227,614			156,926			244,110
Total liabilities		31,231,860			30,865,429			31,766,762			31,406,734			30,166,678
Shareholders' equity^(B)		6,611,642			6,521,827			6,504,424			6,427,236			6,345,441
Total liabilities and equity	$	37,843,502		$	37,387,256		$	38,271,186		$	37,833,970		$	36,512,119

(A) Includes $(296), $1,517, $2,115, $2,290 and $2,483 in unrealized (losses) gains on available for sale securities for the quarterly periods ended September 30, 2022, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021, respectively.

(B) Includes $(234), $1,198 $1,671, $1,809 and $1,961 in after-tax unrealized (losses) gains on available for sale securities for the quarterly periods ended September 30, 2022, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021, respectively.

	Three Months Ended												Year-to-Date
	Sep 30, 2022			Jun 30, 2022		Mar 31, 2022			Dec 31, 2021		Sep 30, 2021		Sep 30, 2022			Sep 30, 2021
Income Statement Data
Interest income:
Loans	$	210,268		$	192,770	$	193,025		$	206,209	$	213,821	$	596,063		$	663,699
Securities^(C)		68,761			64,111		55,011			46,857		46,217		187,883			128,602
Federal funds sold and other earning assets		525			925		847			563		302		2,297			993
Total interest income		279,554			257,806		248,883			253,629		260,340		786,243			793,294

Interest expense:
Deposits		14,669			8,641		8,754			8,685		11,578		32,064			44,228
Other borrowings		3,719			450		—			—		—		4,169			—
Securities sold under repurchase agreements		487			244		185			184		195		916			518
Total interest expense		18,875			9,335		8,939			8,869		11,773		37,149			44,746
Net interest income		260,679			248,471		239,944			244,760		248,567		749,094			748,548
Provision for credit losses		—			—		—			—		—		—			—
Net interest income after provision for credit losses		260,679			248,471		239,944			244,760		248,567		749,094			748,548

Noninterest income:
Nonsufficient funds (NSF) fees		8,887			8,484		8,124			8,401		7,962		25,495			21,209
Credit card, debit card and ATM card income		8,889			8,880		8,179			8,894		8,837		25,948			25,786
Service charges on deposit accounts		6,222			6,365		6,211			6,237		6,115		18,798			18,155
Trust income		3,174			2,875		2,703			2,698		2,467		8,752			7,580
Mortgage income		340			502		455			685		1,396		1,297			7,617
Brokerage income		940			917		892			953		861		2,749			2,367
Bank owned life insurance income		1,214			1,293		1,283			1,317		1,325		3,790			3,911
Net gain (loss) on sale or write-down of assets		50			1,108		689			1,165		255		1,847			(68	)
Other noninterest income		4,972			7,170		6,586			5,407		5,427		18,728			17,652
Total noninterest income		34,688			37,594		35,122			35,757		34,645		107,404			104,209

Noninterest expense:
Salaries and benefits		79,578			80,371		79,411			76,496		78,412		239,360			234,060
Net occupancy and equipment		8,412			8,039		7,848			8,140		8,165		24,299			24,044
Credit and debit card, data processing and software amortization		9,516			9,246		8,849			9,050		9,103		27,611			26,054
Regulatory assessments and FDIC insurance		2,807			2,851		2,850			2,801		2,497		8,508			7,837
Core deposit intangibles amortization		2,577			2,581		2,620			2,855		2,878		7,778			8,696
Depreciation		4,436			4,539		4,547			4,518		4,524		13,522			13,577
Communications		3,374			3,206		2,919			3,134		3,013		9,499			8,894
Other real estate expense		198			195		214			24		30		607			472
Net loss (gain) on sale or write-down of other real estate		(213	)		14		(621	)		2		4		(820	)		(2,722	)
Other noninterest expense		11,529			11,836		11,213			12,518		11,189		34,578			33,170
Total noninterest expense		122,214			122,878		119,850			119,538		119,815		364,942			354,082
Income before income taxes		173,153			163,187		155,216			160,979		163,397		491,556			498,675
Provision for income taxes		37,333			34,697		32,890			34,192		34,807		104,920			106,165
Net income available to common shareholders	$	135,820		$	128,490	$	122,326		$	126,787	$	128,590	$	386,636		$	392,510

(C) Interest income on securities was reduced by net premium amortization of $9,947, $11,450, $12,857, $16,006 and $15,141 for the three months ended September 30, 2022, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021, respectively, and $34,254 and $42,421 for the nine months ended September 30, 2022 and September 30, 2021, respectively.

(Dollars and share amounts in thousands, except per share data and market prices)

	Three Months Ended																		Year-to-Date
	Sep 30, 2022				Jun 30, 2022				Mar 31, 2022				Dec 31, 2021			Sep 30, 2021			Sep 30, 2022				Sep 30, 2021

Profitability
Net income ^(D) (E)	$	135,820			$	128,490			$	122,326			$	126,787		$	128,590		$	386,636			$	392,510

Basic earnings per share	$	1.49			$	1.40			$	1.33			$	1.38		$	1.39		$	4.22			$	4.23
Diluted earnings per share	$	1.49			$	1.40			$	1.33			$	1.38		$	1.39		$	4.22			$	4.23

Return on average assets ^(F)		1.45	%			1.36	%			1.29	%			1.37	%		1.42	%		1.37	%			1.47	%
Return on average common equity ^(F)		8.24	%			7.84	%			7.54	%			7.91	%		8.07	%		7.88	%			8.32	%
Return on average tangible common equity ^(F)^(G)		16.44	%			15.73	%			15.30	%			16.26	%		16.72	%		15.83	%			17.53	%
Tax equivalent net interest margin ^{(D) (E)}^(H)		3.11	%			2.97	%			2.88	%			2.97	%		3.10	%		2.99	%			3.20	%
Efficiency ratio ^{(G) (I)}		41.38	%			43.12	%			43.68	%			42.79	%		42.34	%		42.70	%			41.52	%

Liquidity and Capital Ratios
Equity to assets		17.47	%			17.44	%			17.00	%			16.99	%		17.38	%		17.47	%			17.38	%
Common equity tier 1 capital		15.44	%	^(J)		15.26	%	^(J)		15.32	%	^(J)		15.10	%		14.84	%		15.44	%	^(J)		14.84	%
Tier 1 risk-based capital		15.44	%	^(J)		15.26	%	^(J)		15.32	%	^(J)		15.10	%		14.84	%		15.44	%	^(J)		14.84	%
Total risk-based capital		16.09	%	^(J)		15.91	%	^(J)		15.99	%	^(J)		15.45	%		15.20	%		16.09	%	^(J)		15.20	%
Tier 1 leverage capital		9.94	%	^(J)		9.58	%	^(J)		9.44	%	^(J)		9.62	%		9.55	%		9.94	%	^(J)		9.55	%
Period end tangible equity to period end tangible assets ^(G)		9.62	%			9.48	%			9.19	%			9.07	%		9.18	%		9.62	%			9.18	%

Other Data
Weighted-average shares used in computing earnings per common share
Basic		91,209				91,772				92,161				92,162			92,683			91,710				92,823
Diluted		91,209				91,772				92,161				92,162			92,683			91,710				92,823
Period end shares outstanding		91,210				91,196				92,160				92,170			92,160			91,210				92,160
Cash dividends paid per common share	$	0.52			$	0.52			$	0.52			$	0.52		$	0.49		$	1.56			$	1.47
Book value per common share	$	72.49			$	71.51			$	70.58			$	69.73		$	68.85		$	72.49			$	68.85
Tangible book value per common share ^(G)	$	36.47			$	35.46			$	34.87			$	34.00		$	33.09		$	36.47			$	33.09

Common Stock Market Price
High	$	77.93			$	73.50			$	80.46			$	78.67		$	72.97		$	80.46			$	83.02
Low	$	65.37			$	64.69			$	69.08			$	68.53		$	64.40		$	64.69			$	64.40
Period end closing price	$	66.68			$	68.27			$	69.38			$	72.35		$	71.13		$	66.68			$	71.13
Employees – FTE (excluding overtime)		3,592				3,576				3,595				3,704			3,625			3,592				3,625
Number of banking centers		272				272				272				273			273			272				273

(D) Includes purchase accounting adjustments for the periods presented as follows:

(E) Using effective tax rate of 21.6%, 21.3%, 21.2%, 21.2% and 21.3% for the three months ended September 30, 2022, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021, respectively, and 21.3% for the nine months ended September 30, 2022 and September 30, 2021.

(G) Refer to the “Notes to Selected Financial Data” at the end of this Earnings Release for a reconciliation of this non-GAAP financial measure to the nearest GAAP financial measure.

(H) Net interest margin for all periods presented is based on average balances on an actual 365-day basis.

(I) Calculated by dividing total noninterest expense, excluding credit loss provisions, by net interest income plus noninterest income, excluding net gains and losses on the sale or write down of assets and securities. Additionally, taxes are not part of this calculation.

(J) Beginning on January 1, 2022, the cumulative amount of the current expected credit loss (“CECL”) transition adjustments is being phased in over a three-year transition period.

YIELD ANALYSIS	Three Months Ended
	Sep 30, 2022							Jun 30, 2022							Sep 30, 2021
	Average Balance			Interest Earned/ Interest Paid		Average Yield/ Rate	^(K)	Average Balance			Interest Earned/ Interest Paid		Average Yield/ Rate	^(K)	Average Balance			Interest Earned/ Interest Paid		Average Yield/ Rate		^(K)
Interest-earning assets:
Loans held for sale	$	4,136		$	57	5.47%		$	3,199		$	40	5.02%		$	11,714		$	91	3.08%
Loans held for investment		17,275,866			199,417	4.58%			16,799,609			182,286	4.35%			17,102,998			199,019	4.62%
Loans held for investment - Warehouse Purchase Program		938,589			10,794	4.56%			1,257,521			10,444	3.33%			1,836,252			14,711	3.18%
Total Loans		18,218,591			210,268	4.58%			18,060,329			192,770	4.28%			18,950,964			213,821	4.48%
Investment securities		14,962,847			68,761	1.82%	^(L)		14,989,666			64,111	1.72%	^(L)		12,184,964			46,217	1.50%		^(L)
Federal funds sold and other earning assets		87,859			525	2.37%			540,907			925	0.69%			734,787			302	0.16%
Total interest-earning assets		33,269,297			279,554	3.33%			33,590,902			257,806	3.08%			31,870,715			260,340	3.24%
Allowance for credit losses on loans		(283,244	)						(284,550	)						(301,011	)
Noninterest-earning assets		4,480,512							4,448,060							4,728,965
Total assets	$	37,466,565						$	37,754,412						$	36,298,669

Interest-bearing liabilities:
Interest-bearing demand deposits	$	6,155,511		$	2,345	0.15%		$	6,437,614		$	2,154	0.13%		$	6,089,678		$	3,614	0.24%
Savings and money market deposits		10,172,986			9,479	0.37%			10,702,273			4,473	0.17%			9,944,664			4,522	0.18%
Certificates and other time deposits		2,185,529			2,845	0.52%			2,409,663			2,014	0.34%			2,897,123			3,442	0.47%
Other borrowings		577,828			3,719	2.55%			112,582			450	1.60%			—			—		—
Securities sold under repurchase agreements		473,584			487	0.41%			463,108			244	0.21%			448,338			195	0.17%
Total interest-bearing liabilities		19,565,438			18,875	0.38%	^(M)		20,125,240			9,335	0.19%	^(M)		19,379,803			11,773	0.24%		^(M)

Noninterest-bearing liabilities:
Noninterest-bearing demand deposits		11,048,856							10,855,802							10,286,062
Allowance for credit losses on off-balance sheet credit exposures		29,947							29,947							29,947
Other liabilities		231,812							186,344							229,502
Total liabilities		30,876,053							31,197,333							29,925,314
Shareholders' equity		6,590,512							6,557,079							6,373,355
Total liabilities and shareholders' equity	$	37,466,565						$	37,754,412						$	36,298,669

Net interest income and margin				$	260,679	3.11%					$	248,471	2.97%					$	248,567	3.09%
Non-GAAP to GAAP reconciliation:
Tax equivalent adjustment					458							445							551
Net interest income and margin (tax equivalent basis)				$	261,137	3.11%					$	248,916	2.97%					$	249,118	3.10%

(L) Yield on securities was impacted by net premium amortization of $9,947, $11,450 and $15,141 for the three months ended September 30, 2022, June 31, 2022 and September 30, 2021, respectively.

(M) Total cost of funds, including noninterest bearing deposits, was 0.24%, 0.12% and 0.16% for the three months ended September 30, 2022, June 31, 2022 and September 30, 2021, respectively.

YIELD ANALYSIS	Year-to-Date
	Sep 30, 2022							Sep 30, 2021
	Average Balance			Interest Earned/ Interest Paid		Average Yield/ Rate	^(N)	Average Balance			Interest Earned/ Interest Paid		Average Yield/ Rate		^(N)
Interest-earning assets:
Loans held for sale	$	3,980		$	137	4.60%		$	19,507		$	439	3.01%
Loans held for investment		16,931,422			564,736	4.46%			17,228,462			613,813	4.76%
Loans held for investment - Warehouse Purchase Program		1,153,762			31,190	3.61%			2,061,432			49,447	3.21%
Total loans		18,089,164			596,063	4.41%			19,309,401			663,699	4.60%
Investment securities		14,579,521			187,883	1.72%	^(O)		10,849,373			128,602	1.58%		^(O)
Federal funds sold and other earning assets		913,923			2,297	0.34%			1,151,647			993	0.12%
Total interest-earning assets		33,582,608			786,243	3.13%			31,310,421			793,294	3.39%
Allowance for credit losses on loans		(284,486	)						(307,500	)
Noninterest-earning assets		4,462,318							4,644,874
Total assets	$	37,760,440						$	35,647,795

Interest-bearing liabilities:
Interest-bearing demand deposits	$	6,453,810		$	6,951	0.14%		$	6,160,988		$	15,028	0.33%
Savings and money market deposits		10,579,351			17,978	0.23%			9,747,706			15,765	0.22%
Certificates and other time deposits		2,409,251			7,135	0.40%			2,969,151			13,435	0.60%
Other borrowings		232,253			4,169	2.40%			—			—		—
Securities sold under repurchase agreements		462,994			916	0.26%			403,254			518	0.17%
Total interest-bearing liabilities		20,137,659			37,149	0.25%	^(P)		19,281,099			44,746	0.31%		^(P)

Noninterest-bearing liabilities:
Noninterest-bearing demand deposits		10,848,605							9,855,599
Allowance for credit losses on off-balance sheet credit exposures		29,947							29,947
Other liabilities		198,196							194,347
Total liabilities		31,214,407							29,360,992
Shareholders' equity		6,546,033							6,286,803
Total liabilities and shareholders' equity		37,760,440						$	35,647,795

Net interest income and margin				$	749,094	2.98%					$	748,548	3.20%
Non-GAAP to GAAP reconciliation:
Tax equivalent adjustment					1,375							1,772
Net interest income and margin (tax equivalent basis)				$	750,469	2.99%					$	750,320	3.20%

(O) Yield on securities was impacted by net premium amortization of $34,254 and $42,421 for the nine months ended September 30, 2022 and 2021, respectively.

(P) Total cost of funds, including noninterest bearing deposits, was 0.16% and 0.21% for the nine months ended September 30, 2022 and 2021, respectively.

	Three Months Ended
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021
YIELD TREND ^(Q)

Interest-Earning Assets:
Loans held for sale		5.47	%		5.02	%		3.52	%		3.20	%		3.08	%
Loans held for investment		4.58	%		4.35	%		4.44	%		4.53	%		4.62	%
Loans held for investment - Warehouse Purchase Program		4.56	%		3.33	%		3.18	%		3.12	%		3.18	%
Total loans		4.58	%		4.28	%		4.35	%		4.40	%		4.48	%
Investment securities ^(R)		1.82	%		1.72	%		1.62	%		1.46	%		1.50	%
Federal funds sold and other earning assets		2.37	%		0.69	%		0.16	%		0.16	%		0.16	%
Total interest-earning assets		3.33	%		3.08	%		2.98	%		3.07	%		3.24	%

Interest-Bearing Liabilities:
Interest-bearing demand deposits		0.15	%		0.13	%		0.15	%		0.14	%		0.24	%
Savings and money market deposits		0.37	%		0.17	%		0.15	%		0.15	%		0.18	%
Certificates and other time deposits		0.52	%		0.34	%		0.35	%		0.38	%		0.47	%
Other borrowings		2.55	%		1.60	%		—			—			—
Securities sold under repurchase agreements		0.41	%		0.21	%		0.17	%		0.17	%		0.17	%
Total interest-bearing liabilities		0.38	%		0.19	%		0.17	%		0.18	%		0.24	%

Net Interest Margin		3.11	%		2.97	%		2.87	%		2.96	%		3.09	%
Net Interest Margin (tax equivalent)		3.11	%		2.97	%		2.88	%		2.97	%		3.10	%

(R) Yield on securities was impacted by net premium amortization of $9,947, $11,450, $12,857, $16,006 and $15,141 for the three months ended September 30, 2022, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021, respectively.

	Three Months Ended
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021
Balance Sheet Averages
Loans held for sale	$	4,136		$	3,199		$	4,611		$	8,794		$	11,714
Loans held for investment		17,275,866			16,799,609			16,712,690			16,830,163			17,102,998
Loans held for investment - Warehouse Purchase Program		938,589			1,257,521			1,268,715			1,772,971			1,836,252
Total Loans		18,218,591			18,060,329			17,986,016			18,611,928			18,950,964

Investment securities		14,962,847			14,989,666			13,772,974			12,751,857			12,184,964
Federal funds sold and other earning assets		87,859			540,907			2,135,503			1,393,859			734,787
Total interest-earning assets		33,269,297			33,590,902			33,894,493			32,757,644			31,870,715
Allowance for credit losses on loans		(283,244	)		(284,550	)		(285,692	)		(287,191	)		(301,011	)
Cash and due from banks		302,479			309,223			326,552			329,406			570,765
Goodwill		3,231,637			3,231,637			3,231,637			3,231,637			3,231,637
Core deposit intangibles, net		55,158			57,728			60,346			63,091			65,955
Other real estate		1,652			1,639			1,893			321			279
Fixed assets, net		336,657			336,242			327,297			321,524			323,584
Other assets		552,929			511,591			510,944			530,603			536,745
Total assets	$	37,466,565		$	37,754,412		$	38,067,470		$	36,947,035		$	36,298,669

Noninterest-bearing deposits	$	11,048,856		$	10,855,802		$	10,636,624		$	10,587,441		$	10,286,062
Interest-bearing demand deposits		6,155,511			6,437,614			6,775,114			6,196,283			6,089,678
Savings and money market deposits		10,172,986			10,702,273			10,870,461			10,286,650			9,944,664
Certificates and other time deposits		2,185,529			2,409,663			2,637,529			2,766,123			2,897,123
Total deposits		29,562,882			30,405,352			30,919,728			29,836,497			29,217,527
Other borrowings		577,828			112,582			—			—			—
Securities sold under repurchase agreements		473,584			463,108			452,054			432,981			448,338
Allowance for credit losses on off-balance sheet credit exposures		29,947			29,947			29,947			29,947			29,947
Other liabilities		231,812			186,344			176,360			234,746			229,502
Shareholders' equity		6,590,512			6,557,079			6,489,381			6,412,864			6,373,355
Total liabilities and equity	$	37,466,565		$	37,754,412		$	38,067,470		$	36,947,035		$	36,298,669

	Sep 30, 2022					Jun 30, 2022					Mar 31, 2022					Dec 31, 2021					Sep 30, 2021
Period End Balances

Loan Portfolio
Commercial and industrial	$	2,188,029		11.8	%	$	2,155,727		11.8	%	$	2,007,783		11.1	%	$	2,050,631		11.0	%	$	1,841,899		9.7	%
Warehouse purchase program		922,764		5.0	%		1,137,623		6.2	%		1,344,541		7.4	%		1,775,699		9.5	%		1,998,049		10.6	%
Construction, land development and other land loans		2,659,552		14.4	%		2,460,526		13.5	%		2,327,837		12.9	%		2,299,715		12.4	%		2,269,417		12.0	%
1-4 family residential		5,447,993		29.4	%		5,156,200		28.3	%		4,970,620		27.5	%		4,860,419		26.1	%		4,709,468		24.8	%
Home equity		943,197		5.1	%		932,725		5.1	%		870,130		4.8	%		808,289		4.4	%		746,426		3.9	%
Commercial real estate (includes multi-family residential)		4,966,243		26.8	%		4,967,662		27.3	%		5,150,555		28.5	%		5,251,368		28.2	%		5,550,841		29.3	%
Agriculture (includes farmland)		670,603		3.6	%		665,960		3.7	%		617,418		3.4	%		620,338		3.3	%		631,497		3.3	%
Consumer and other		288,834		1.6	%		274,532		1.5	%		246,433		1.4	%		288,496		1.6	%		274,980		1.5	%
Energy		410,069		2.2	%		430,339		2.4	%		445,949		2.5	%		491,305		2.6	%		569,314		3.0	%
Paycheck Protection Program		9,004		0.1	%		27,550		0.2	%		86,258		0.5	%		169,884		0.9	%		365,841		1.9	%
Total loans	$	18,506,288				$	18,208,844				$	18,067,524				$	18,616,144				$	18,957,732

Deposit Types
Noninterest-bearing DDA	$	11,154,143		38.1	%	$	11,032,184		36.9	%	$	10,776,652		34.7	%	$	10,750,034		34.9	%	$	10,326,489		35.0	%
Interest-bearing DDA		6,027,157		20.6	%		6,331,314		21.2	%		6,603,934		21.2	%		6,741,092		21.9	%		6,088,923		20.7	%
Money market		6,438,787		22.0	%		6,646,726		22.3	%		7,603,329		24.5	%		7,178,904		23.3	%		6,864,664		23.3	%
Savings		3,563,776		12.1	%		3,597,820		12.0	%		3,543,300		11.4	%		3,401,727		11.1	%		3,293,850		11.2	%
Certificates and other time deposits		2,116,232		7.2	%		2,257,574		7.6	%		2,541,095		8.2	%		2,700,005		8.8	%		2,877,726		9.8	%
Total deposits	$	29,300,095				$	29,865,618				$	31,068,310				$	30,771,762				$	29,451,652

Loan to Deposit Ratio		63.2	%				61.0	%				58.2	%				60.5	%				64.4	%

	Sep 30, 2022					Jun 30, 2022					Mar 31, 2022					Dec 31, 2021					Sep 30, 2021

Single family residential construction	$	1,004,000		37.8	%	$	911,443		37.0	%	$	816,072		35.0	%	$	728,393		31.7	%	$	659,248		29.0	%
Land development		145,303		5.5	%		133,398		5.4	%		103,853		4.5	%		99,099		4.3	%		92,623		4.1	%
Raw land		343,066		12.9	%		316,750		12.9	%		310,987		13.4	%		322,673		14.0	%		315,803		13.9	%
Residential lots		237,714		8.9	%		223,703		9.1	%		212,029		9.1	%		206,978		9.0	%		195,201		8.6	%
Commercial lots		181,679		6.8	%		184,794		7.5	%		183,760		7.9	%		184,901		8.0	%		169,189		7.5	%
Commercial construction and other		747,803		28.1	%		690,453		28.1	%		701,148		30.1	%		757,687		33.0	%		837,436		36.9	%
Net unaccreted discount		(13	)				(15	)				(12	)				(16	)				(83	)
Total construction loans	$	2,659,552				$	2,460,526				$	2,327,837				$	2,299,715				$	2,269,417

Non-Owner Occupied Commercial Real Estate Loans by Metropolitan Statistical Area (MSA) as of September 30, 2022

	Houston		Dallas		Austin		OK City		Tulsa		Other ^(S)		Total
Collateral Type
Shopping center/retail	$	422,432	$	257,332	$	50,427	$	18,868	$	27,159	$	276,875	$	1,053,093
Commercial and industrial buildings		160,956		78,735		18,646		32,753		16,267		166,892		474,249
Office buildings		92,541		322,061		26,391		68,836		4,378		64,189		578,396
Medical buildings		82,266		20,237		2,525		20,961		39,028		51,973		216,990
Apartment buildings		79,475		64,631		12,259		13,995		8,239		147,840		326,439
Hotel		92,257		68,683		44,188		28,364		—		131,290		364,782
Other		73,549		76,947		32,797		7,512		2,593		71,337		264,735
Total	$	1,003,476	$	888,626	$	187,233	$	191,289	$	97,664	$	910,396	$	3,278,684	^(T)

	Non-PCD Loans						PCD Loans						Total Acquired Loans
	Balance at Acquisition Date		Balance at Jun 30, 2022		Balance at Sep 30, 2022		Balance at Acquisition Date		Balance at Jun 30, 2022		Balance at Sep 30, 2022		Balance at Acquisition Date			Balance at Jun 30, 2022		Balance at Sep 30, 2022
Loan marks:
Acquired banks ^(U)	$	345,599	$	3,734	$	2,836	$	320,052	$	3,993	$	3,671	$	665,651		$	7,727	$	6,507

Acquired portfolio loan balances:
Acquired banks ^(U)		12,286,159		1,559,270		1,410,748		689,573		68,125		66,613		12,975,732	^(V)		1,627,395		1,477,361

Acquired portfolio loan balances less loan marks	$	11,940,560	$	1,555,536	$	1,407,912	$	369,521	$	64,132	$	62,942	$	12,310,081		$	1,619,668	$	1,470,854

(T) Represents a portion of total commercial real estate loans of $4.966 billion as of September 30, 2022.

(U) Includes Bank Arlington, American State Bank, Community National Bank, First Federal Bank Texas, Coppermark Bank, First Victoria National Bank, The F&M Bank & Trust Company, Tradition Bank and LegacyTexas Bank.

	Three Months Ended															Year-to-Date
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021
Asset Quality
Nonaccrual loans	$	17,729		$	20,619		$	21,765		$	26,269		$	35,035		$	17,729		$	35,035
Accruing loans 90 or more days past due		378			13			3,695			887			1,038			378			1,038
Total nonperforming loans		18,107			20,632			25,460			27,156			36,073			18,107			36,073
Repossessed assets		13			—			19			310			326			13			326
Other real estate		1,758			1,555			1,705			622			150			1,758			150
Total nonperforming assets	$	19,878		$	22,187		$	27,184		$	28,088		$	36,549		$	19,878		$	36,549

Nonperforming assets:
Commercial and industrial (includes energy)	$	2,376		$	2,964		$	4,403		$	6,150		$	8,199		$	2,376		$	8,199
Construction, land development and other land loans		1,712			1,866			1,761			1,841			803			1,712			803
1-4 family residential (includes home equity)		13,986			14,335			11,899			11,990			11,117			13,986			11,117
Commercial real estate (includes multi-family residential)		1,364			2,448			7,685			7,276			15,691			1,364			15,691
Agriculture (includes farmland)		434			567			1,402			816			643			434			643
Consumer and other		6			7			34			15			96			6			96
Total	$	19,878		$	22,187		$	27,184		$	28,088		$	36,549		$	19,878		$	36,549
Number of loans/properties		150			160			147			157			155			150			155
Allowance for credit losses on loans	$	282,179		$	283,959		$	285,163		$	286,380		$	287,187		$	282,179		$	287,187

Net charge-offs (recoveries):
Commercial and industrial (includes energy)	$	(15	)	$	(197	)	$	14		$	177		$	3,763		$	(198	)	$	8,876
Construction, land development and other land loans		(4	)		(5	)		430			(162	)		(4	)		421			(114	)
1-4 family residential (includes home equity)		(202	)		(32	)		87			(72	)		66			(147	)		107
Commercial real estate (includes multi-family residential)		757			395			(366	)		(10	)		11,180			786			18,286
Agriculture (includes farmland)		119			(9	)		(103	)		(102	)		(63	)		7			(39	)
Consumer and other		1,125			1,052			1,155			976			755			3,332			1,765
Total	$	1,780		$	1,204		$	1,217		$	807		$	15,697		$	4,201		$	28,881

Asset Quality Ratios
Nonperforming assets to average interest-earning assets		0.06	%		0.07	%		0.08	%		0.09	%		0.11	%		0.06	%		0.12	%
Nonperforming assets to loans and other real estate		0.11	%		0.12	%		0.15	%		0.15	%		0.19	%		0.11	%		0.19	%
Net charge-offs to average loans (annualized)		0.04	%		0.03	%		0.03	%		0.02	%		0.33	%		0.03	%		0.20	%
Allowance for credit losses on loans to total loans		1.52	%		1.56	%		1.58	%		1.54	%		1.51	%		1.52	%		1.51	%
Allowance for credit losses on loans to total loans, excluding Warehouse Purchase Program loans and Paycheck Protection Program loans ^(G)		1.61	%		1.67	%		1.71	%		1.72	%		1.73	%		1.61	%		1.73	%

Prosperity’s management uses certain non-GAAP (generally accepted accounting principles) financial measures to evaluate its performance. Specifically, Prosperity reviews return on average tangible common equity; tangible book value per share; the tangible equity to tangible assets ratio; allowance for credit losses on loans to total loans excluding Warehouse Purchase Program and PPP loans; and the efficiency ratio, excluding net gains and losses on the sale or write down of assets and securities, for internal planning and forecasting purposes. In addition, due to the application of purchase accounting, Prosperity uses certain non-GAAP financial measures and ratios that exclude the impact of these items to evaluate its allowance for credit losses on loans to total loans (excluding Warehouse Purchase Program loans and PPP loans). Prosperity has included information below relating to these non-GAAP financial measures for the applicable periods presented.

	Three Months Ended															Year-to-Date
	Sep 30, 2022			Jun 30, 2022			Mar 31, 2022			Dec 31, 2021			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021

Reconciliation of return on average common equity to return on average tangible common equity:
Net income	$	135,820		$	128,490		$	122,326		$	126,787		$	128,590		$	386,636		$	392,510
Average shareholders' equity	$	6,590,512		$	6,557,079		$	6,489,381		$	6,412,864		$	6,373,355		$	6,546,033		$	6,286,803
Less: Average goodwill and other intangible assets		(3,286,795	)		(3,289,365	)		(3,291,983	)		(3,294,728	)		(3,297,592	)		(3,289,362	)		(3,300,990	)
Average tangible shareholders’ equity	$	3,303,717		$	3,267,714		$	3,197,398		$	3,118,136		$	3,075,763		$	3,256,671		$	2,985,813
Return on average tangible common equity ^(F)		16.44	%		15.73	%		15.30	%		16.26	%		16.72	%		15.83	%		17.53	%

Reconciliation of book value per share to tangible book value per share:
Shareholders’ equity	$	6,611,642		$	6,521,827		$	6,504,424		$	6,427,236		$	6,345,441		$	6,611,642		$	6,345,441
Less: Goodwill and other intangible assets		(3,285,541	)		(3,288,119	)		(3,290,700	)		(3,293,320	)		(3,296,175	)		(3,285,541	)		(3,296,175	)
Tangible shareholders’ equity	$	3,326,101		$	3,233,708		$	3,213,724		$	3,133,916		$	3,049,266		$	3,326,101		$	3,049,266

Period end shares outstanding		91,210			91,196			92,160			92,170			92,160			91,210			92,160
Tangible book value per share	$	36.47		$	35.46		$	34.87		$	34.00		$	33.09		$	36.47		$	33.09

Reconciliation of equity to assets ratio to period end tangible equity to period end tangible assets ratio:
Tangible shareholders’ equity	$	3,326,101		$	3,233,708		$	3,213,724		$	3,133,916		$	3,049,266		$	3,326,101		$	3,049,266
Total assets	$	37,843,502		$	37,387,256		$	38,271,186		$	37,833,970		$	36,512,119		$	37,843,502		$	36,512,119
Less: Goodwill and other intangible assets		(3,285,541	)		(3,288,119	)		(3,290,700	)		(3,293,320	)		(3,296,175	)		(3,285,541	)		(3,296,175	)
Tangible assets	$	34,557,961		$	34,099,137		$	34,980,486		$	34,540,650		$	33,215,944		$	34,557,961		$	33,215,944
Period end tangible equity to period end tangible assets ratio		9.62	%		9.48	%		9.19	%		9.07	%		9.18	%		9.62	%		9.18	%

Reconciliation of allowance for credit losses to total loans to allowance for credit losses on loans to total loans excluding Warehouse Purchase Program and Paycheck Protection Program loans:
Allowance for credit losses on loans	$	282,179		$	283,959		$	285,163		$	286,380		$	287,187		$	282,179		$	287,187
Total loans	$	18,506,288		$	18,208,844		$	18,067,524		$	18,616,144		$	18,957,732		$	18,506,288		$	18,957,732
Less: Warehouse Purchase Program loans		(922,764	)		(1,137,623	)		(1,344,541	)		(1,775,699	)		(1,998,049	)		(922,764	)		(1,998,049	)
Less: Paycheck Protection Program loans		(9,004	)		(27,550	)		(86,258	)		(169,884	)		(365,841	)		(9,004	)		(365,841	)
Total loans less Warehouse Purchase Program and Paycheck Protection Program loans	$	17,574,520		$	17,043,671		$	16,636,725		$	16,670,561		$	16,593,842		$	17,574,520		$	16,593,842
Allowance for credit losses on loans to total loans excluding Warehouse Purchase Program and Paycheck Protection Program loans		1.61	%		1.67	%		1.71	%		1.72	%		1.73	%		1.61	%		1.73	%

Reconciliation of efficiency ratio to efficiency ratio excluding net gains and losses on the sale of assets and securities:
Noninterest expense	$	122,214		$	122,878		$	119,850		$	119,538		$	119,815		$	364,942		$	354,082

Net interest income	$	260,679		$	248,471		$	239,944		$	244,760		$	248,567		$	749,094		$	748,548
Noninterest income		34,688			37,594			35,122			35,757			34,645			107,404			104,209
Less: net gain (loss) on sale or write down of assets		50			1,108			689			1,165			255			1,847			(68	)
Noninterest income excluding net gains and losses on the sale or write down of assets and securities		34,638			36,486			34,433			34,592			34,390			105,557			104,277
Total income excluding net gains and losses on the sale or write down of assets and securities	$	295,317		$	284,957		$	274,377		$	279,352		$	282,957		$	854,651		$	852,825
Efficiency ratio, excluding net gains and losses on the sale or write down of assets and securities		41.38	%		43.12	%		43.68	%		42.79	%		42.34	%		42.70	%		41.52	%

	Filed by Prosperity Bancshares, Inc.
	Pursuant to Rule 425 under the Securities Act of 1933
	Subject Company: First Bancshares of Texas, Inc.
	Commission File Number: 000-11155

PRESS RELEASE	For more information contact:

Prosperity Bancshares, Inc.^®	Cullen Zalman
Prosperity Bank Plaza	Senior Vice President – Banking and Corporate Activities
4295 San Felipe	281.269.7199
Houston, Texas 77027	cullen.zalman@prosperitybankusa.com

	Three Months Ended					Year-to-Date
	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Sep 30, 2022	Sep 30, 2021
Loan discount accretion
ASC 310-20	$912	$(265)	$4,674	$4,635	$3,761	$5,321	$26,805
ASC 310-30	$322	$324	$521	$731	$1,618	$1,167	$7,107
Securities net amortization	$40	$12	$52	$139	$136	$104	$418
Time deposits amortization	$68	$84	$100	$127	$201	$252	$1,035