December 15, 2021
Happy Bancshares, Inc. Shareholders Approve Merger with Home BancShares, Inc.
AMARILLO, TX – During a special meeting held earlier today, Happy Bancshares, Inc. (“HBI”) shareholders voted to approve the Agreement and Plan of Merger with Conway, Arkansas-based Home BancShares, Inc. (“HOMB”) dated September 15, 2021. Of the shares voted at the special meeting, 97.48% of HBI shareholders voted in favor of the transaction. The mutual approval of shareholders from both companies clears the way for Happy State Bank to become a division of Centennial Bank, pending regulatory approval.
Additionally, during a special meeting held earlier today, HOMB shareholders voted to approve the issuance of common stock in the acquisition of HBI. Of the shares voted at the meeting, 99.47% voted in favor of the issuance of HOMB common stock, which will be issued under and in accordance with the Agreement and Plan of Merger dated September 15, 2021, relating to the proposed acquisition.
“This is a monumental day in the 113-year history of Happy State Bank, and I cannot think of a better partner than Centennial Bank to join in this next chapter of the Happy story,” commented Happy State Bank President and CEO Mikel Williamson. “Through this merger, we will continue to serve communities across Texas under the Happy State Bank name, with the same great culture, goals, community focus and employees for which we are so well known – and backed by the strength of a $24 billion bank.”
“I want to thank both the Happy shareholders who returned a positive vote at 97.48% in favor and HOMB shareholders at 99.47% in favor of the merger. The strong vote is an overwhelming show of strength for the merger of these two great companies,” said John Allison, Home BancShares, Inc. Chairman.
The completion of the transaction between Happy Bancshares, Inc. and Home BancShares, Inc. remains subject to federal and state regulatory approvals and other customary closing conditions and is anticipated to be completed in the first quarter of 2022.
About Happy State Bank
With over $6.4 billion in assets, Happy State Bank was founded in 1908 in Happy, Texas and today is headquartered in Amarillo, Texas. Happy State Bank offers a broad range of financial services and products through its current network of 62 bank branches in 45 communities across the Texas Panhandle, South Plains, Austin, Central Texas and the Dallas/Fort Worth Metroplex.