AMARILLO, TX, December 11, 2020 /PRNewswire/ — In a joint statement, J Pat Hickman, Chairman of Happy State Bank, and Frederick B. Hegi, Jr., Chairman of the First National Bank of Tahoka, announced that Happy State Bank is acquiring, by merger, First National Bank of Tahoka. The bank holds approximately $56 million of total assets and has a location in Tahoka.
“We are very excited about expanding the happy footprint further into the Southern Plains“, Hickman said. “FNB Tahoka is a great bank with great bankers. They care and serve their community very well. We look forward to building on their excellent reputation.”
“The Hegi family has been actively involved with the bank and the community for the past 91 years,” commented Hegi. “Given our roots in Lynn County and those of other bank managers, it was very important to hand over ownership to an organization that also has a deep West Texas roots and is actively involved in the agricultural industry. Happy State Bank and its leaders have great respect for the industry and demonstrate a strong desire to support local schools, hospitals, farmers and small businesses. We couldn’t be happier.”
President and CEO of Happy State Bank Michael Williamson added, “Tahoka is such a big community, and it’s a fantastic opportunity for both banks. We look forward to welcoming FNB Tahoka and its clients to happy family.”
“During my tenure as Chairman of the First National Bank of Tahoka, I’ve seen Happy State Bank grow from humble beginnings to a strong, highly respected organization with a presence throughout the Panhandle and beyond,” said John Kry, Chairman of the First National Bank of Tahoka. “Every community in which Happy State Bank is located has benefited from his leadership and community support. With its size and strong capital position, Happy State Bank will be able to bring products and services that were not not previously available to our customers in Tahoka and all of Lynn County, who needs and deserves the best. Keep looking for those familiar faces when you visit the bank.”
Following the transaction, happy will assume the First National Bank of by Tahoka about $12 million in loans and $50 million in deposits, bringing its total assets to approximately $5.6 billion and growing its number of locations to 61 branches in 45 Texas communities. The transaction is expected to close in the first quarter of 2021, subject to banking regulatory and shareholder approvals.
About Happy State Bank
With over $5 billion of assets, Happy State Bank was founded in 1908 in Happy Texas and is now headquartered in Amarillo, TX. Happy State Bank offers a wide range of financial services and products through its current network of 57 bank branches in 41 communities across the Texas Panhandle, Southern Plains, Austin, Central Texas and the Dallas/Fort Worth Metroplex. Closing planned for early 2021, happy is also in the process of acquiring First Bank of mules, adding three new communities and branches to its total roster. Happy State Bank is available online at www.HappyBank.com.
SOURCE Happy State Bank