Home BancShares completes $962M acquisition of Happy Bancshares, adds 62 Texas branches

HOME BANCSHARES INC

Total consideration of ~$962M: 42.4M shares of HOMB valued at $958.8M plus $3.1M cash for stock appreciation rights.
Happy Bancshares had $6.81B in assets, $3.59B in loans, and $5.81B in deposits as of Dec 31, 2021.
Deal closed April 1; combined company now operates 222 branches in Arkansas, Florida, Texas, South Alabama, and NYC.
John Allison says acquisition is 'immediately accretive' and marks long-awaited entry into the Texas market.
Piper Sandler served as financial advisor to Home; Stephens Inc. advised Happy.

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