Prosperity Bancshares Q3 Earnings, Net Interest Income Decline

(RTTNews) - Prosperity Bancshares, Inc. (PB) Wednesday reported net income of $112.21 million or $1.20 per share for the third quarter, lower than $135.82 million or $1.49 per share in the same quarter year ago, on reduced net interest income.

Analysts on average polled by Thomson-Reuters were expecting earnings of $1.15 per share. Analysts' estimates typically exclude special items.

Net interest income declined to $239.52 million from $260.68 million last year.

The company did not make any provision for credit losses this year as well as last year.

Prosperity Bancshares declared a fourth quarter dividend of $0.56 per share to be paid on January 2, to shareholders of record as of December 15.