Prosperity Bancshares Inc. announced unaudited earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total interest income of $171,839,000 compared to $164,669,000 a year ago. Net interest income was $156,050,000 compared to $153,832,000 a year ago. Net interest income after provision for credit losses was $154,050,000 compared to $151,832,000 a year ago. Income before income taxes was $102,182,000 compared to $102,159,000 a year ago. Net income available to common shareholders was $67,138,000 compared to $68,793,000 a year ago. Basic and diluted earnings per share were $0.97 compared to $0.99 a year ago. Return on average assets was 1.20% against 1.26% a year ago. Return on average common equity was 7.04% against 7.58% a year ago. Return on average tangible common equity was 14.31% against 16.33% a year ago.

For the year, the company reported total interest income of $677,355,000 compared to $675,779,000 a year ago. Net interest income was $616,863,000 compared to $632,620,000 a year ago. Net interest income after provision for credit losses was $602,538,000 compared to $608,620,000 a year ago. Income before income taxes was $406,070,000 compared to $408,658,000 a year ago. Net income available to common shareholders was $272,165,000 compared to $274,466,000 a year ago. Basic and diluted earnings per share were $3.92 compared to $3.94 a year ago. Return on average assets was 1.22% against 1.25% a year ago. Return on average common equity was 7.26% against 7.69% a year ago. Return on average tangible common equity was 15.06% against 16.95% a year ago. Book value per share was $55.03 as on December 31, 2017 against $52.41 as on December 31, 2016. Tangible book value per share was $27.12 as on December 31, 2017 against $24.40 as on December 31, 2016.

Net charge-offs were $4.771 million for the three months ended December 31, 2017 compared with $2.259 million for the three months ended December 31, 2016 and $3.871 million for the three months ended September 30, 2017. Net charge-offs for the fourth quarter of 2017 were primarily comprised of two commercial and industrial loans.