For the eighth year in a row, HAPPY BANCSHARES, INC., a Texas corporation and holding company for Happy State Bank, has raised new capital from the sale of its common stock in a private offering. This year's offering brought in $71 million in new capital, exceeding last year's totals by more than $6 million.
"We are humbled and thankful that investors chose to trust us by investing over $71 million in new capital – especially in the middle of a pandemic," said J. Pat Hickman, chairman of the bank and holding company. "In this Texas-residents-only offering, we are most pleased to have both current and new shareholders invest in our Happy Bank. We'll put these monies to work immediately as we continue to expand our geographic footprint and serve our customers, delivering that great Happy Experience."
CEO Mikel Williamson commented, "This year's presentations were held virtually, which makes our results that much more impressive. With an eight-year total of over $380 million, I can't tell you how grateful we are to our shareholders who continue to demonstrate their confidence in us as we remain great stewards of these resources. As we approach the November 9 completion of our system conversion with Centennial BANK, we have many more exciting things in store."
The company conducted the private offering on its own – as it has done in the prior seven years. The company did not retain or utilize the services of a placement agent for the offering. Hunton Andrews Kurth LLP served as legal counsel to the company in connection with the offering.
About HAPPY BANCSHARES, INC.
With $5 billion in assets, HAPPY BANCSHARES, INC., was founded in 1908 in Happy, Texas and is the holding company for HAPPY STATE BANK, a state-chartered community bank headquartered in Amarillo, Texas. Happy State Bank recently acquired Lubbock-based Centennial BANK and offers a broad range of financial services and products through its network of 57 locations in 41 communities throughout the Texas Panhandle, South Plains, Austin, Central Texas and the Dallas/Fort Worth Metroplex, as well as an extensive network of ATMs. HAPPY STATE BANK can be found online at www.HappyBank.com.
