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Regional banks are moving higher.
After delivering strong earnings Prosperity Bancshares as actually getting hit today there is the stock -- down more than 3% the company recently named.
America's best bank in the stock is in the -- right now consider the fourth quarter numbers beat expectations what's going up let's bring -- The chairman of the CEO David -- he joins me now in a fox visited could just.
Houston Texas and the quarterly report you -- on the top and bottom last fiscal year.
It's a good question Cheryl this -- and then the best here that we ever hand.
We had had net earnings of 169.
Compared to a 141.
Million last year about 19% increase our assets and -- 49 person so loans and to longs -- grew over a billion for.
-- deposits and they had a 44% increase in that so.
We had a look you know a lot of -- so it's it's probably -- you ever had in earnings per share.
-- three dollars and 23 cents compared to 301.
Last year about a seven point 3% increase has -- -- -- -- -- ever handle them.
Yeah what do you make of this I mean do you think that the street is misunderstandings some think is -- something and -- it.
And up violating that they.
-- -- -- -- No -- you know our.
Our stock is probably held up better than a lot of our competitors over the years if you look at what we -- -- -- As a percentage of tangible book we probably trade at a higher premium than anybody else.
When you look at our earnings -- what what we -- -- -- earnings per share were probably a good stock especially with the stock down today.
You know -- -- forward earnings and where you know we're probably cheaper than a lot of our peer groups.
-- -- this thing they weren't good they'll take notice like that all right you know what thank notice -- talk about margin compression that's actually been a big concern for many regional banks not just yours.
Obviously with the yield curve with a problem is here is that.
The end of the loans -- -- deposits are overtaking.
Deposits are far outpacing -- demand what's going on -- loan demand and know that you -- mostly small and medium businesses are they not.
Coming in that door is -- a credit quality issue what's happening.
Well we wait there's -- thanks happening -- -- we had.
Actually loan growth year over year.
We we've had -- loan -- our organic loan growth really meaning loan growth excluding acquisitions we -- up over a 6%.
Six point 2% loan growth.
One of the things that were -- is happening we're actually producing.
Every month than we ever have before.
On the other side of the -- line.
We are seeing more payday loans than we've ever seen before so.
You have to dynamics working here I think in the third quarter of last year we saw a lot people skeptical businessman about borrowing when -- go out taking chances.
Yeah and -- Sharon what's gonna happen via our -- that the fourth quarter and fourth quarter thanks -- said well.
You know we've got this new administration when you like it or not here it is and they did go out so I think things are looking.
Okay -- like the forecast -- that you talked about Eminem we need you've announced six acquisitions -- completed five acquisitions in the past fifteen months.
One more -- -- Is it anymore and -- an activity for you are you looking around you think you're gonna have more acquisitions in 2013.
-- -- Well let me say.
The answer to that is yes but I do -- -- that and saying you know we -- from.
Nine point eight billion dollars in 2011.
C today fourteen and a half billion not counting.
Our two most recent acquisitions that we're over a billion dollars so.
Our first and foremost is to my share.
That the operational integration of banks that we've done our dead and the people -- happy.
You know the biggest the biggest thing you can do an -- it in in acquiring somebody else -- merging with somebody else is messing up on the operational integration so.
That's our first focus.
The second thing I would say is yes there's going to be.
We we are being asked.
To consider a lot of different deals that a lot different times so fair I think there will be a lot of -- there'll be a lot of -- going on.
Work we're careful what we're doing that thing going forward -- the regulatory and other regulatory burdens and everything -- you're seeing.
The net interest margin for decreasing I think you're gonna see more -- -- a lot less banks.
-- -- managers say oh well I I -- I dot think you're right on that would David down and Prosperity Bancshares chairman CEO David thank you very much got really great quarter for you thank you David.
-- for having me the.
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