LegacyTexas Bank

LegacyTexas Bank was a community bank headquartered in Plano, Texas, and one of the largest locally based banks in North Texas. It was acquired by Prosperity Bank in 2019 and given the Prosperity branding.

LegacyTexas Bank
TypePublic
Nasdaq: LTXB
S&P 600 Component
IndustryBanking
Founded1952
FateAcquired
SuccessorProsperity Bank
HeadquartersPlano, Texas
Key people
Kevin J. Hanigan, president and chief executive officer
Revenue$410.4 million (2017)[1]
Number of employees
836
Websitewww.legacytexas.com

History

The bank was found in 1952 in Plano, Texas, as a community bank for the surrounding North Texas area. Since then it had grown to be one of the biggest banks in Texas and the biggest locally in North Texas. In 2015, ViewPoint Financial Group acquired LegacyTexas Bank, merging it with ViewPoint Bank to become one bank under the LegacyTexas name.[2][3] In November 2019, Prosperity Bank agreed to acquire the bank and the acquisition was completed in 2020, with all facilities now branded as Prosperity Bank.[4][5][6]

Services

Some of its products are interest-bearing and non-interest-bearing demand accounts, savings, money market, certificates of deposit, and individual retirement accounts. The company's lending products comprise commercial and consumer real estate loans; secured and unsecured commercial and industrial loans; permanent loans secured by first and second mortgages on one- to four-family residences; construction and land loans; and secured and unsecured consumer loans, including new and used automobile loans, recreational vehicle loans, and loans secured by savings deposits. It also provides insurance and title services.

References
  1. "LTXB Income Statement - LegacyTexas Financial Group, In Stock - Yahoo Finance". Finance.yahoo.com. Retrieved 25 May 2018.
  2. "about". Legacytexas.co. Retrieved 25 May 2018.
  3. "LTXB Profile - LegacyTexas Financial Group, In Stock - Yahoo Finance". Finance.yahoo.com. Retrieved 25 May 2018.
  4. "Prosperity Bancshares, Inc. ® Completes Merger With LegacyTexas Financial Group, Inc" (Press release). PR Newswire. November 1, 2019.
  5. Mathews, Chris (November 1, 2019). "Houston bank closes multibillion-dollar acquisition of North Texas bank". American City Business Journals.
  6. "Welcome Legacy Texas". June 10, 2020.
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