SBBO Represents LegacyTexas Financial Group in $2.1 Billion Merger

November 1 bank merger is second largest in the history of Texas
By: Shapiro Bieging Barber Otteson LLP
 
 
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DENVER - Nov. 13, 2019 - PRLog -- In a deal that closed on November 1, 2019, Shapiro Bieging Barber Otteson LLP (SBBO) represented LegacyTexas Financial Group, Inc. ("LegacyTexas"), the parent company of LegacyTexas Bank ("LegacyTexas Bank"), in its merger  with Prosperity Bancshares, Inc.® ("Prosperity"), the parent company of Prosperity Bank®.

The $2.1 billion transaction creates the third largest bank by deposits in the state of Texas and is the second largest bank merger in the state's history.

The SBBO team was led by Christian Otteson (http://www.sbbolaw.com/attorneys/christian-otteson/), director of the firm's Financial Services Practice Group, and included partners Bo Anderson (http://www.sbbolaw.com/attorneys/bo-anderson/) and Kurt Leeper (http://www.sbbolaw.com/attorneys/kurt-leeper/).

Immediately after the merger, LegacyTexas Bank was merged into Prosperity Bank and LegacyTexas' business will operate as Prosperity Bank dba LegacyTexas Bank until systems conversion, which is scheduled for early June 2020. Upon conversion, the combined bank will operate as Prosperity Bank.

To read the full press release from Prosperity Bancshares, Inc. please click here. (https://www.sec.gov/Archives/edgar/data/1068851/000119312...)

About Shapiro Bieging Barber Otteson LLP (www.sbbolaw.com)

With offices in Denver, Colorado and Dallas/Fort Worth, Texas, Shapiro Bieging Barber Otteson LLP is a law firm committed to providing its clients with knowledgeable, responsive and cost-effective representation in the areas of financial services, capital markets, securities regulation, mergers and acquisitions, corporate structuring, insolvency, and insurance coverage.  Founded in 2001 by former partners of national law firms, the firm provides financial institutions, companies, and individuals with legal counsel in a broad range of commercial litigation, business, and regulatory matters. Many of the firm's attorneys have been recognized nationally for their industry-leading work.

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