Prosperity in Texas Files to Sell Securities

Prosperity Bancshares in Houston filed a shelf registration to sell a variety of shares.

The $21.4 billion-asset company said in the filing it could, over the next three years, periodically offer senior or subordinated debt, preferred stock, depositary shares, common stock, warrants or units at yet-to-be-determined prices.

Prosperity said that, while it currently has no plans to offer securities, it "believes the registration statement will provide it timely and efficient access to the capital markets should the need or opportunity arise."

Prosperity did not disclose how it expects to use the proceeds. A company spokeswoman was not immediately available for comment.

Prosperity is the latest banking company to line up the documents necessary to raise capital. The $3.8 billion-asset Peapack-Gladstone Financial in Bedminster, N.J., on Tuesday announced plans to raise as much as $100 million selling preferred stock, debt and other securities. Earlier this month, the $3.5 billion-asset First Foundation in Irvine, Calif., said it plans to sell up to $200 million of securities that include common stock and debt securities.