Business

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Happy State acquires Centennial Bank

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AMARILLO, TX – May 15, 2020 – In a joint statement, Mikel Williamson, President & CEO Happy State Bank and Gregg Appel, CEO of Centennial Bank announced that regulatory approval has been received by the Texas Department of Banking and FDIC for Happy Bancshares, Inc. to purchase and assume operations of Lubbock-based Centennial Bank and its holding company Commerce Bancshares, Inc. which will become part of Happy State Bank.
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Direct assistance is available to farmers through Coronavirus Food Program

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WASHINGTON, D.C.—U.S. Secretary of Agriculture Sonny Perdue this week announced details of the Coronavirus Food Assistance Program (CFAP), which will provide up to $16 billion in direct payments to deliver relief to America’s farmers and ranchers impacted by the coronavirus pandemic.
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Texas RRC reports April 2020 drilling permits, completions

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AUSTIN—The Texas Railroad Commission issued a total of 456 original drilling permits in April 2020, compared to 909 in April 2019—a 50 percent decrease. The total includes 416 permits to drill new oil or gas wells, two to re-enter plugged well bores, and 27 for recompletions of existing well bores. Those permits included 97 oil, 15 gas, 311 oil or gas, 15 injection, and 18 other permits.
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Full impact of COVID-19 shutdown still not reflected in May sales tax payments

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AUSTIN—Texas Comptroller Glenn Hegar announced this week that he will send cities, counties, transit systems and special purpose taxing districts $824.1 million in local sales tax allocations for May—down 5 percent from payments made in May 2019. These allocations are based on sales made in March by businesses that report tax monthly, and sales made in January, February and March by quarterly filers.
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Trump acts to keep large meat processors open

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This week, President Donald J. Trump is enacting the Defense Production Act to ensure that Americans have a reliable supply of products like beef, pork, and poultry. The presidentsigned an executive order providing the authority to ensure the continued supply of beef, pork, and poultry to the American people. Under the order, the Department of Agriculture is directed to ensure America’s meat and poultry processors continue operations uninterrupted to the maximum extent possible.