HOUSTON (AP) — HOUSTON (AP) — Prosperity Bancshares Inc. (PB) on Wednesday reported fourth-quarter net income of $95.5 million.

The Houston-based bank said it had earnings of $1.02 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.19 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The financial holding company posted revenue of $413 million in the period. Its revenue net of interest expense was $273.6 million, which missed Street forecasts. Six analysts surveyed by Zacks expected $279.3 million.

For the year, the company reported profit of $419.3 million, or $4.51 per share. Revenue was reported as $1.11 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PB at https://www.zacks.com/ap/PB

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News