Press Release September 22, 2021

Happy Bancshares to Merge with Home BancShares

Alston & Bird client Happy Bancshares Inc., parent company of Texas-based Happy State Bank, announced it has entered into a definitive agreement to merge with Home BancShares Inc., a leading Arkansas bank holding company and parent company of Centennial Bank, in an all-stock deal valued at almost $1 billion, making it the largest bank M&A announced in Texas in 2021. 

Happy Bancshares operates as the bank holding company for Happy State Bank. Founded in 1908 in Happy, TX, the bank has more than $6 billion in assets and ranks among the top 20 of nearly 500 banks doing business in Texas.

Headquartered in Conway, AR, Home BancShares is the bank holding company for Centennial Bank, which has more than 175 offices in Arkansas, Florida, Alabama, and New York City. It has more than $16 billion in assets.

The merger is slated to close during the first quarter of 2022, subject to shareholder and regulatory approvals and customary closing conditions. 

Representing Happy Bancshares is an Alston & Bird team led by partner Sandy Brown and senior associate Bart Nebergall (Financial Services & Products), associate Seth Buchwald (Federal & International Tax), and partner Blake MacKay and counsel Kerry Wenzel (Employee Benefits & Executive Compensation).
Media Contact
Alex Wolfe
Communications Director

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