Leadership Shuffle and Board Integration
Post-acquisition, American Bank CEO Stephen Raffaele is set to helm Prosperity’s South Texas and San Antonio operations as chair. Meanwhile, Ben Wallace, current chair of American Bank, will step into a senior chair role for the region—solidifying leadership continuity and local expertise.
Adding to the merger’s synergy, Raffaele and Patt Hawn Wallace, who chairs American Bank Holding Corp. and serves on the American Bank board, will both take seats at the Prosperity Bancshares board table.
“We have admired American Bank for over 20 years,” said David Zalman, senior chairman and CEO of Prosperity. “Their talented team, loyal customer base, and aligned footprint made this combination a natural evolution. Together, we’ll have the horsepower to better serve communities throughout South Texas.”
Raffaele echoed the sentiment:
“This merger allows us to grow our legacy of service with the resources of a larger institution. It’s a win for our clients, employees, and the communities we cherish.”
