Happy State announces bank acquisition in Texas

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Happy State Bank in Amarillo, Texas, has agreed to buy First State Bank of Mobeetie.

The $3.5 billion-asset Happy State said in a press release Monday that it expects to complete the deal for the $78 million-asset First State in the fourth quarter. The price was not disclosed.

First State Bank has branches in the Texas markets of Mobeetie and Wheeler.

“This bank really fits us well,” J. Pat Hickman, Happy State’s chairman and CEO, said in the release.

“Since our beginnings … we have stayed true to our small town roots," Hickman added. "We are excited to welcome our new friends and neighbors in Mobeetie and Wheeler.”

Happy State will have 43 branches when the deal closes.

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