On April 1, Home BancShares Inc., the parent company of Conway, Arkansas-based Centennial Bank, announced that it has completed its previously announced acquisition of Happy Bancshares Inc., the parent company of Amarillo-based Happy State Bank, pursuant to the terms of a definitive agreement and plan of merger whereby, in a series of transactions, an acquisition subsidiary of Home BancShares merged with and into Happy, Happy merged with and into Home, and immediately thereafter, Happy State Bank merged with and into Centennial Bank.
As of December 31, 2021, Happy Bancshares had approximately $6.81 billion in total assets, $3.59 billion in loans and $5.81 billion in deposits. With the completion of the acquisition, the company now operates 76 branches in Arkansas, 78 branches in Florida, 62 branches in Texas, five branches in South Alabama and one branch in New York City.
“The completion of the acquisition of Happy State Bank is a pivotal moment for Home and is another example of our ability to make smart, strategic deals that are immediately accretive,” says John Allison, chairman, president and CEO of Home BancShares. “The long-awaited entry into Texas came at just the right time and with all the right deal attributes. We expect this to be the beginning of a bright future in Texas.”
“Centennial Bank welcomes the customers, talented team of bankers and numerous shareholders of Happy State Bank and looks forward to the added value this merger will bring to our franchise,” says Tracy French, president and CEO of Centennial Bank.
Established in 1908 in Happy, Texas, Happy State Bank serves communities across the Texas Panhandle, South Plains, Austin, Central Texas and the Dallas/Fort Worth metroplex with more than 60 locations. Established in 1903, Centennial Bank operates more than 160 branches in Arkansas, Florida, South Alabama and New York City.
