Documents prepared for shareholders noted that the deal “creates ample opportunities for in-market consolidation in new markets surrounding Oklahoma City and throughout Oklahoma.”
Prosperity CEO David Zalman lauded the five-decade history of Coppermark.
“We intend to continue that passion, and Coppermark has committed to help Prosperity grow in the state of Oklahoma,” Zalman said in a statement issued by Prosperity.
Coppermark Chairman Russell E. Swarts said the company's leaders “have worked for 50 years to build a strong bank with a reputation for integrity and exceptional customer service.”
“We are excited for our customers, officers, staff and stockholders to join with a strong partner like Prosperity,” Swarts said in a statement.
Several Coppermark executives will remain active in the Oklahoma operations of the merged companies.
Swarts will be senior chairman of the central Oklahoma region, and President Thomas Legan will be regional chairman and manage day-to-day operations of the Oklahoma offices. Chief Operating Officer Jacque Fiegel will lead the bank's retail and business banking functions in Oklahoma, and Chief Credit Officer Jeff Russell will be responsible for lending in the state.