Houston-based Prosperity Bancshares Inc. reported fourth-quarter 2020 net income available to common shareholders of $137.1 million, or $1.48 per share, compared with $86.1 million, or $1.01 per share, a year ago.

The S&P Capital IQ consensus GAAP EPS estimate for the recent quarter was $1.35.

Net income for the most recent quarter included $46.4 million, or 43 cents per share, in expenses related to its merger with LegacyTexas Financial Group Inc.

The net interest margin on a tax-equivalent basis was 3.49% for the three months ended Dec. 31, 2020, compared with 3.57% in the linked quarter and 3.66% for the same period in 2019.

There was no provision for credit losses for the three months ended Dec. 31, 2020, compared with $10.0 million for the three months ended Sept. 30, 2020, and $1.7 million for the three months ended Dec. 31, 2019.

The combined company's loans dropped to $20.25 billion as of Dec. 31, 2020, compared to $20.80 billion as of Sept. 30, 2020, and up from $18.85 billion as of Dec. 31, 2019.

Period-end deposits totaled $27.36 billion, up from $26.46 billion at the end of the linked quarter and $24.20 billion at the end of the fourth quarter of 2019.

Net charge-offs were $7.6 million for the three months ended Dec. 31, 2020, compared to $10.6 million for the previous quarter and $1.3 million in the year-ago quarter.

For full year 2020, net income available to common shareholders was $528.9 million, or $5.68 per share, compared with $332.6 million, or $4.52 per share, in 2019.

The S&P Capital IQ consensus GAAP EPS estimate for 2020 was $5.54.