Home Bancshares, Inc. Announces Completion Of The Acquisition Of Happy Bancshares, Inc.

Apr 01, 2022•over 3 years ago

Acquiring Company

Shore Bancshares

Acquired Company

Happy Bancshares

Lending And InvestmentsFinancial Services

Description

Home BancShares, Inc. (NYSE: HOMB) (“Home” or “the Company”), parent company of Centennial Bank (“Centennial”), today announced that it has completed its previously announced acquisition of Happy Bancshares, Inc. (“Happy”), parent company of Happy State Bank (“HSB”), pursuant to the terms of a definitive agreement and plan of merger whereby, in a series of transactions, an acquisition subsidiary of Home merged with and into Happy, Happy merged with and into Home, and immediately thereafter, HSB merged with and into Centennial. The acquisition is effective today, April 1, 2022.

Company Information

Company

Shore Bancshares

About

Severn Bancorp, Inc. is a savings and loan holding company chartered as a corporation in the state of Maryland in 1990. It conducts business primarily through three subsidiaries, Severn Savings Bank, FSB, Mid-Maryland Title Company, Inc. and SBI Mortgage Company. Founded in 1946, Severn Savings Bank is a full-service community bank offering a wide array of personal and commercial banking products as well as residential and commercial mortgage lending. It has seven branches located in Annapolis, Crofton, Edgewater, Glen Burnie, Lothian/Wayson's Corner, and Severna Park.

DealWatch™ Score

High M&A Activity

M&A Opportunity Analysis

Get personalized insights on M&A opportunities

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor