Prosperity Bank

www.prosperitybanktx.com

Prosperity Bank Reviews

Updated January 22, 2015
Updated January 22, 2015
31 Reviews
3.0
31 Reviews
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David Zalman
10 Ratings

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  1.  

    Does not want employees transferring...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Bank Teller in Abilene, TX
    Former Employee - Bank Teller in Abilene, TX

    I worked at Prosperity Bank full-time (more than 3 years)

    Pros

    I actually liked most of the people I worked with. They were kind and hard working, in spite of constant cut-backs around the office.
    Benefits package was decent and affordable. There were two options and I had the cheaper one which only cost me about $20 per paycheck. They also offer 401K options that are easy to manage.

    Cons

    Hard to move around and very few job opportunities outside of the main cities (Houston, Lubbock, or Victoria). Also transferring is not as easy as it should be.
    In an environment where a teller can be fired for just about anything, it's crazy that some employees were unbearable to work with and never once got in trouble or disciplined. There was a lot of playing favorites, but that's to be expected in most office situations.
    The company buys out failing banks (which is fine with me) but then to make up for that money until their investments pay off, Prosperity is extremely stingy. Our banking center was actually not provided with facial tissues for a while and we were told we could use toilet paper. This is just unprofessional looking.

    Advice to ManagementAdvice

    Offer the ability to transfer with a liveable wage. I moved from Abilene to the DFW area (which is an extra $150-200 rent/month) and was told I would be making the same wages. I was told it was because I was transferring, so I tried applying after I got there and was given the same offer. This doesn't even make sense. No one can live on that.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 2 people found this helpful  

    Management focused on acquisitions and expenses, not customers or employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President/Lender in Dallas, TX
    Current Employee - Vice President/Lender in Dallas, TX

    I have been working at Prosperity Bank full-time (less than an year)

    Pros

    The 401k match is well above average, although so are the 401k administrative and fund fees. The loan rates are competitive. The website is decent, and the "popmoney" money transfer feature and other customer options are beneficial.

    There is no formal incentive program for loan officers and therefore not much sales pressure; there is also not much volume at many branches and not much in the way of goals there either. Because of constant turnover after the frequent acquisitions, Prosperity rarely does layoffs.

    Cons

    Senior management prides itself on having the lowest efficiency ratio in the industry, which means by definition this is the cheapest bank in America. Since 40% of executive incentive pay is based on keeping this ratio low, and the CEO bragged on an earnings call recently that he'd make employees bring their own toilet paper to work if he could get away with it. This mindset is the root from which all the other "cons" stem. Beyond general irritants such as no coffee or water allowed for clients in the branches, no maternity leave or short term disability, and no maintenance for branches which look ever more dilapidated, the ability of employees to do their job is compromised by some cost savings efforts:

    Investments in technology are delayed until critical, meaning not only are certain systems outdated or non-existent, but we don't have enough servers and the system crashes or freezes on a regular basis.

    Salaries are low, and there is no formal incentive plan for lenders. Bonuses are low and discretionary, so workers with ambition or skill move on to other employers, leaving Prosperity with more complacent and/or less competent employees who are overworked and underpaid (with the exception of many lenders and managers who were strong-armed into signing long term contracts during acquisitions). Most support centers (HR, IT, loan operations) are severely understaffed, and approved salaries for new positions are so low that lending teams are forced to hire from within and promote those with no lending experience rather than recruit good talent.

    The company is still run like a $150MM old boys club community bank. From a shareholder perspective things have worked out so far, and as long as the regulators don't prevent new acquisitions it may continue. Management's strategy is to out-grow the attrition of workers and the runoff off customers by buying more banks rather than investing in existing staff and systems and growing loans or fees organically. They are open about this. All our rules and loan policy are organized around making sure the bank can continue to be allowed to make acquisitions - there is literally no talk of gaining market share, retaining customers, offering competitive products, or organic loan growth. One can only assume their ultimate goal is to sell the company to a larger competitor.

    Advice to ManagementAdvice

    Start thinking about selling before things unravel internally, and/or start investing in better systems and retaining/recruiting quality employees. We need an incentive plan if you ever want organic growth; we need better staffed support centers, and we need modern (non email- and Excel-based) approval procedures.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3. 2 people found this helpful  

    Favoritism is how you "prosper" in this bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Bank Teller in Fort Worth, TX
    Current Employee - Bank Teller in Fort Worth, TX

    I have been working at Prosperity Bank full-time (more than 3 years)

    Pros

    The job itself is just plain easy once you learn it. And there is no sales pressure like Wells Fargo and BOA... But I know that they are slowly but surely getting to selling.

    Cons

    Zero room for moving up. People are fighting over positions. Once you get in your place of comfort you better stay There and make friends with management because that's the only way to move up if your lucky. I got lied to about a position being mine and then FOUND OUT (not told by management) it was given to someone who didn't even apply for the position just got moved up out of no where. The new tellers that I train (all of them) in my branch are making more than me and I'm the one who has taught and guided them to where they are now. No recognition for the rights I do, only my wrongs. Management sits back while the rest of the "team" does everything. The gossip in the bank feels much like a high-school hallway every single day. I hate going to work just to be belittled and undermined by people above me. All they have for their reasoning for their actions are "it's politics, get used to it" or "it's just not your time to move up" ... My advice to ANYONE going into ANY position is FIND ANOTHER BANK.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    Loans Administration -

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loans Administration in Houston, TX
    Former Employee - Loans Administration in Houston, TX

    I worked at Prosperity Bank full-time (less than an year)

    Pros

    Flex hours -- some managers are willing to work around your schedule - nice if you are in college. Generous overtime.

    Some lenders and their assistants are wonderful but they are few and far between.

    Cons

    Pay is poor for the work required. No direct deposit unless you have an account at their bank and if you choose to get a mailed out check and it gets lost in the mail be prepared to wait for a very long time for a replacement while your bills stack up. Overtime paid several weeks in arrears, paychecks are difficult to decipher. You'll never know if it is correct.

    Be ready to step back 25 years with technology - computers often freeze for long periods of time and software as well as servers crash often.

    Very thick glass ceiling that seems to be unbreakable. All senior management are men.

    The biggest con for this company is attitude. Egos. Be prepared to be judged and chastised and sometimes belittled daily by your manager by what you may have done incorrectly and not at all - ever - for what you did right. There isn't any teamwork and don't expect any encouragement. If you are not a lender / banker you are considered to be lower than the lowest man on the totem pole even if you have many more years of experience than they do.

    Also expect others in your area to run to management either face to face or cc'd on an email when they find even the smallest of errors and know those errors will all count against you when you get your annual review. And also expect to be called on the carpet for those errors and you're allowed to offer an explanation.

    Loan policy is generic and most decisions are made on the fly. Many favors to circumvent loan policy and/or regulation are made to favorite lenders while others are left in the cold.

    My advice - do not apply unless you want to work in a very old style management environment.

    Advice to ManagementAdvice

    No advice to management - it's never going to change. Management likes it this way.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Prosperity takes your life.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Front-line in Houston, TX
    Former Employee - Front-line in Houston, TX

    I worked at Prosperity Bank full-time (more than 10 years)

    Pros

    Employer matching of up to 7% for 401 (k) is a nice benefit. Most local employees are friendly.

    Cons

    Constant changes in policies and procedures cause confusion for front-line employees. Christmas bonuses are a joke. Quit preaching about supporting the stock holders. We all know who owns the stocks.

    Advice to ManagementAdvice

    The computer system is out dated and needs to be updated. Test should be run before programs are updated. It is difficult to help customers when the computers are slow or down.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    If you like being degraded and taken advantage of, you've come to the right place.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Teller in Tyler, TX
    Current Employee - Teller in Tyler, TX

    I have been working at Prosperity Bank full-time (more than 3 years)

    Pros

    The work is easy and you can get to know your customers.

    Cons

    The pay is dreadful. Management is the DEFINITION of tyrannical and there are no procedures in place to file a complaint. You will be degraded, taken advantage of, and just generally treated like dirt.

    Advice to ManagementAdvice

    Your lobby managers are not above reproach. There should be a way for employees to express these issues with out retaliation.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    Customer Service Representative

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Customer Service Representative
    Former Employee - Customer Service Representative

    I worked at Prosperity Bank full-time (more than 5 years)

    Pros

    Most of the employees are nice.

    Cons

    They are behind on technology, a lot of paper processing. They are VERY conservative on spending. There isn't room for advancement nor transferring to another position.

    Advice to ManagementAdvice

    With all the acquisitions, please invest in technology to make transitions easier for customers as well as employees. Regional managers area representative of your company. It doesn't look well when they are rude to new employees. If an employee has turned in their 2 weeks notice, the regional managers won't even acknowledge the employee when they visit the branch. It reassures my decision that this is not the company I want to work for if this is how leaders of the company treat employees.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9.  

    Mergers more like a take over

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Prosperity Bank

    Pros

    Hours or competitive. Once had home town feel but now losing that touch.

    Cons

    Mergers are more like a take over. First Victoria Bank was chewed up and spit out. Very disorganized merger. Not sure is this is the peoples bank anymore. Home town feel has been lost. Welcome to Chase.

    Advice to ManagementAdvice

    Focus on perfecting what you do. You need to focus on hiring the right people doing the right things and communicate. It's not always about management making a profit. The front line staff is your voice. Start treating your people better.

  10.  

    Not a long term employer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Vice President in Houston, TX
    Former Employee - Vice President in Houston, TX

    I worked at Prosperity Bank

    Pros

    having the opportunity to work in other lending areas

    Cons

    Lending parameters and promises not kept

    Advice to ManagementAdvice

    promote from within

    Doesn't Recommend
  11.  

    Under-appreciated and underpaid

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Teller
    Former Employee - Teller

    I worked at Prosperity Bank full-time (more than an year)

    Pros

    Lots of responsibility and can only help you in a future position within a bank(if that is what you want to do with the rest of your life)

    Cons

    I worked for Prosperity Bank for two years right out of college. I was very appreciative because they gave me a chance at being a teller even though I had not actually worked at a bank before. They started me at a decent starting pay considering I was new to this, but promised that with experience, I would get raises and be considered for different positions in the company. (Basically, the sky is the limit if you work hard for us.) Well, after about 6 months, I got my first raise. It was nothing too awesome, but enough to where it made a difference. I was getting better at the job, getting compliments all the time and working my tail off. I continued to work hard for this company and for the next year and a half, did not get another raise.
    The problem with this company is that they look at the branch you are working at as a whole. If the branch you are with is successful, you can get these raises and they will give you the better equipment to work with, etc etc. However, in the 2nd year of working with Prosperity, I was working at a different branch that was not near as successful at the first branch I was with. I went from having amazing equipment, the opportunity for advancement, a better experience overall to a bank that was tiny, had poor management, had little respect from upper management and just was so much more work. I learned a lot working at the bank, but I was under-appreciated and underwhelmed with the way the company as a whole operated. If you do decide to work at Prosperity Bank, be sure and be employed at one of the nicer locations because that will tell you that they are more valued by upper management than
    the other branches.

    Advice to ManagementAdvice

    Value that talent you are given. I have seen so much turn-over while working at Prosperity Bank, it is not even funny.

    Doesn't Recommend
    Neutral Outlook

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