Prosperity Bancshares Inc. (NYSE:PB) announces a share repurchase program. Under the program, the company will repurchase up to 3,535,635 shares, representing 5% of its outstanding common stock. The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending upon market conditions.

There is no guarantee as to the exact number of shares that will be repurchased by company, and company may discontinue purchases at any time at management's discretion. The share repurchase program will be valid for 12 months.