Happy State Bank Merger
Happy State Bank is Joining the Centennial Bank Family
A Message from Happy State Bank President and CEO Mikel Williamson
We have an exciting announcement to share with you about the future of our company. On September 15, we announced that Happy Bancshares, Inc. has entered into a definitive agreement with Conway, Arkansas-based Home BancShares, Inc. (NASDAQ: HOMB) in which Happy State Bank will merge with Centennial Bank, a division of Home BancShares, Inc.
As part of the agreement, we will continue to do business in Texas as Happy State Bank and maintain the same great Happy culture. I will join the Centennial executive team managing the Texas region and J. Pat Hickman will join the board of Home BancShares. We believe there is great value in joining forces with a company that complements our strengths, and we are confident that becoming a division of Centennial Bank will provide the potential for accelerated growth across the state.
Centennial Bank has been named one of Forbes’ Best Banks in America every year since 2015 and ranked #1 two years straight, and they’ve also been included on Forbes’ World’s Best Banks the last two years. They are similar to Happy in many ways and serve both rural and metropolitan communities throughout Arkansas, Florida, South Alabama and New York City. Like Happy, they have a strong culture and commitment to serving the community.
The transition is expected to be finalized in late 2022. Until then, it’s business as usual, and we’ll keep you informed along the way.
Thank you for your continued business and support throughout this exciting chapter of the Happy story. We look forward to serving you and this great community for many years to come.
Frequently Asked Questions
Who is Centennial Bank?
With over $16 billion in assets, Arkansas-based Centennial Bank (no relation to Centennial BANK we purchased last year) has a community philosophy that is founded on exceptional service and strong customer relationships. Established in 1999, Centennial Bank has locations in both metropolitan and rural areas of Arkansas, Florida, South Alabama and New York. Centennial Bank has been named one of Forbes’ Best Banks in America every year since 2015 and was ranked #1 on the list for two years in a row, and they are similar to us in many ways.
Is Happy’s name going to change?
After the system conversion, we will remain Happy State Bank with the same great Happy culture.
What happens next?
Now that we have signed the definitive agreement, our next step will be to obtain stockholder and regulatory approval. Once approved, legal close will likely take place in the first quarter of 2022. From there, we will begin planning for system conversion, which we anticipate will take place in mid-2022. Until then, it will be business as usual for Happy and our customers, and our products and systems will remain the same.
How will Happy communicate with customers?
As we get closer to system conversion, you will receive details regarding any product and system changes, downtimes, locations and much more. We will also share information and updates online.
To ensure you receive timely messages, please be sure your mailing address, email and telephone number on file with us are correct. You can verify your information through online banking, by phone at 800-447-2265 or in person the next time you stop in to see us.