UPDATE 1-Prosperity Bancshares Q1 profit tops Street

* Q1 EPS $0.66 vs est $0.64

* Provisions for loan losses fall 29 pct

* Net interest income up 5 pct

April 23 (BestGrowthStock) – Prosperity Bancshares Inc (PRSP.O: )
posted a higher quarterly profit that topped Wall Street
estimates, as the lender set aside less money to cover bad
loans.

Net income for the first quarter was $31 million, or 66
cents a share, compared with $25.5 million, or 55 cents a
share, in the year-ago quarter.

Analysts expected the company to earn 64 cents a share,
excluding items, according to Thomson Reuters I/B/E/S.

Provisions for loan losses fell 29 percent to $4.4 million.

Net interest income rose to $77.8 million from $74.0
million.

Shares of the Houston, Texas-based company closed at $43.13
Thursday on Nasdaq.

Stock Trading

(Reporting by Jochelle Mendonca in Bangalore; Editing by Maju
Samuel)

UPDATE 1-Prosperity Bancshares Q1 profit tops Street