SNB Bancshares, Inc. Approve Merger With Prosperity Bancshares, Inc.

SUGAR LAND, Texas, March 24  /PRNewswire-FirstCall/ -- SNB Bancshares, Inc. (NASDAQ:SNBT) announced that the Company's shareholders yesterday approved its merger with Prosperity Bancshares, Inc. (NASDAQ:PRSP).  Over 99% of all votes cast at the special meeting of shareholders were cast in favor of the transaction.  The votes cast in favor of the transaction constitute approximately 62% of all outstanding Common shares and 86% of all outstanding Class B shares.  The closing of the transaction, which remains subject to the satisfaction of customary closing conditions contained in the merger agreement, is expected to occur early in the second quarter.

SNB Bancshares, Inc. is a registered bank holding company listed on the Nasdaq National Market under the symbol "SNBT" and headquartered approximately 15 miles southwest of downtown Houston in Sugar Land, Texas.  It's wholly- owned subsidiary, Southern National Bank of Texas specializes in business and industrial, construction and land development and commercial mortgage loans to small to medium-sized owner-operated businesses through its three full-service branch locations.

Except for historical information contained herein, this press release contains forward-looking statements regarding SNB Bancshares' prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  SNB Bancshares intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is including this statement for purposes of said safe harbor provisions.  The following factors, among others, could cause actual results to differ materially from the expectations stated in any forward-looking statement:  a change in general business and economic conditions in the markets the Company serves; changes in the interest rate environment, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies or guidelines; changes in legislation and regulation; and other economic, competitive, governmental, regulatory, geopolitical, and technological factors affecting SNB Bancshares' operations, pricing, and services.  SNB Bancshares undertakes no obligation to update these forward- looking statements to reflect events or circumstances that occur after the date on which such statements were made.  Please also read the additional risks and factors described from time to time in SNB Bancshares' reports filed with the Securities and Exchange Commission, including SNB Bancshares' prospectus dated August 17, 2004.

Contact:  Whitney Rowe, Investor Relations & Corporate Secretary

Phone: [phone]   Email:  

DATASOURCE: SNB Bancshares, Inc.



CONTACT:  Whitney Rowe, Investor Relations & Corporate Secretary of SNB

Bancshares, Inc., [phone], or  



Web site:  http://www.snbtx.com/ 

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