BUSINESS

Business bulletins: Banking news, industry award

Sarah Self-Walbrick A-J Media
Barry Orr, Heartland Financial

Orr joins Heartland board of directors

Heartland Financial USA Inc. announced Barry H. Orr has been elected to serve on its board of directors until its annual meeting in 2022.

Orr is the founder, chairman and CEO of FirstBank & Trust, now a wholly-owned subsidiary of Heartland. He oversees the operations of eight banking centers, eight mortgage offices and 220 employees across West Texas, states a news release.

“Barry’s adept knowledge and expertise in commercial real estate lending, agriculture lending, mortgage services, full retail banking services, and mergers and acquisition, will bring a uniquely diverse aptitude to the leadership of the Heartland Board,” said Lynn B. Fuller, executive operating chairman of Heartland.

Deeply involved in the community, Orr currently serves as chairman of the Lubbock Economic Development Alliance. He is also involved in the Lubbock Chamber of Commerce, Lubbock Area United Way, First United Methodist Church, New Legacy Home for Women and the Lubbock Chapter of the American Diabetes Association. Orr has been influential in the city’s long-term municipal improvement plan, having served as Chairman of the Lubbock Citizens Advisory Committee in 1984 and again in 2014. He is a graduate of Texas Tech University.

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Happy State Bank to acquire First State Bank of Mobeetie

Happy State Bank has acquired First State Bank of Mobeetie, Texas, as was announced this week in a joint news release from the banks.

“This bank really fits us well. Since our beginnings in Happy, Texas, we have stayed true to our small town roots. We are excited to welcome our new friends and neighbors in Mobeetie and Wheeler to our Happy experience,” said J. Pat Hickman, chairman and CEO of Happy State Bank.

“First State Bank of Mobeetie and Wheeler is excited about being a part of the Happy State Bank family of community banks. Happy is a true community bank that understands small towns. We are confident that Happy will bring financial strength and provide the best banking service to our customers,” said Randy McCurley, president of First State Bank of Mobeetie.

The Mobeetie bank has locations in its hometown and Wheeler, and holds $76 million in assets. With the acquisition, Happy State Bank will have 43 locations in 32 communities. Happy will assume approximately $13 million in loans and $66 million in deposits, increasing its total assets to approximately $3.6 billion. This transaction is expected to close in the fourth quarter of 2019, pending bank regulatory and shareholder approval.

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Lubbock business earns safety honor from insurance company

Texas Mutual Insurance Co. recently awarded Lonestar Industries, a Lubbock commercial masonry business, with the insurer's top honor for workplace safety.

“We are proud to recognize companies for doing the right thing when it comes to safety,” said Richard Gergasko, president and chief executive officer of Texas Mutual Insurance Company. “These awards commend our policyholders for their commitment to employee safety and support our mission to build a stronger and safer Texas.”

To qualify for this honor, a company must demonstrate its commitment to workplace safety by implementing an exemplary safety program and controlling their workers’ compensation losses.

This year, Texas Mutual distributed 200 workplace safety awards to policyholders throughout the state who have exemplary safety records and exceptional safety programs.

Email business news to sself-walbrick@lubbockonline.com. Announcements are due Thursday at noon for Sunday publication.