HOUSTON-Locally based Prosperity Bancshares Inc., parent company of Prosperity Bank, has completed its merger with Coppermark Bankshares Inc. and its wholly owned subsidiary Coppermark Bank. Prosperity's merger with the Oklahoma City-headquartered Coppermark became effective on April 1.

Under the terms of the definitive agreement announced last fall, Prosperity issued approximately 3.2 million shares of Prosperity common stock plus $60 million in cash for all outstanding shares of Coppermark capital stock. Coppermark Bank operates nine full-service banking offices: Six in Oklahoma City and surrounding areas and three in the Dallas area. 

The following personnel changes will take place:

• Coppermark chairman Russell E. Swarts will serve the combined entity as senior chairman – Central Oklahoma Region.
• Coppermark president Thomas Legan, will serve as chairman – Central Oklahoma Region and will be responsible for the day-to-day operations and management of all Oklahoma locations.
• Coppermark COO Jacque Fiegel will be president – Central Oklahoma Region and will be responsible for retail and business banking functions of all Oklahoma locations and certain operational matters for the combined entity.
• Jeff Russell, Coppermark's president of the Oklahoma market and chief credit officer, will be president – Central Oklahoma Region and will be responsible for lending activities in Oklahoma.

Coppermark was advised in this transaction by Commerce Street Capital LLC as financial advisor and Fenimore, Kay, Harrison & Ford LLP and Cheek & Falcone PLLC as legal counsel.  Bracewell & Giuliani LLP was legal counsel to Prosperity.