# American State Bank > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/American_State_Bank > Markdown URL: https://mediated.wiki/source/American_State_Bank.md > Source: https://en.wikipedia.org/wiki/American_State_Bank > Source revision: 1356303565 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{for|the former institution in [Berwyn, Illinois](/source/Berwyn%2C_Illinois)|American State Bank (Berwyn, Illinois)}} {{Infobox company | name = American State Bank | logo = | type = [Private](/source/Private_company) | founded = 1948 | hq_location = [Lubbock, Texas](/source/Lubbock%2C_Texas) | key_people = W. R. Collier (Chairman), Mike Marshall (President) | industry = [Finance](/source/Finance) | products = [Financial services](/source/Financial_services) }} thumb|James F. Štěpina, president of the bank before 1923 '''American State Bank''' was a financial service company operating 37 locations in 21 communities across Texas, mainly in West Texas. American State Bank first opened on May 20, 1948, in Lubbock. American State Bank had unusual continuity of management - there were only three presidents since its inception. The first president, Jack Payne, had a term lasting from the banks first opening until 1974. American State Bank did not accept any bailout funds from the federal government. On February 27, 2012, Houston-based [Prosperity Bancshares](/source/Prosperity_Bancshares), the parent company of Prosperity Bank, announced that it had signed a merger agreement with ASB, whereby ASB will merge into Prosperity Bank subject to shareholder and regulatory approval. The merger became final effective July 1, 2012.{{Cite web |url=https://www.prosperitybanktx.com/ContentDocumentHandler.ashx?documentId=16606 |title=Archived copy |access-date=2012-07-05 |archive-date=2012-08-07 |archive-url=https://web.archive.org/web/20120807113751/https://www.prosperitybanktx.com/ContentDocumentHandler.ashx?documentId=16606 |url-status=dead }} Prosperity Bancshares ultimately paid over 500 million dollars, through a combination of cash and common stock, to acquire American State Bank. ==References== {{reflist}} Category:Banks based in Texas Category:Companies based in Lubbock, Texas Category:Banks established in 1948 Category:Defunct banks of the United States Category:1948 establishments in Texas --- Adapted from the Wikipedia article [American State Bank](https://en.wikipedia.org/wiki/American_State_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/American_State_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.