Bedford, TX, February 6, 2018:
Capital Plus Financial, a Community Development Financial Institution announced today a $10 million equity investment from Happy State Bank. With this investment, Happy State Bank becomes CPF’s largest preferred equity investor.
Capital Plus Financial will use this investment to benefit low-income and distressed communities across Texas and continue to provide long term fixed rate residential mortgages to well deserving borrowers.
“We are incredibly grateful to Happy State Bank for their continued support of our social enterprise and mission.,” said Eric Donnelly, Chief Executive Officer of Capital Plus Financial. “Thousands of families and communities across Texas would not be positively impacted without the lending and equity contributions of Happy State Bank.”
Capital Plus Financial has funded over $100 million in total loans for over 1,000 borrowers over the past 25 years. This financing has allowed many first time borrowers and families to experience the pride of homeownership.
“We are so happy to be partnering with Capital Plus Financial and we applaud the organization for its efforts to make a real impact in communities where help is most needed,” said J. Pat Hickman, Chairman & CEO of Happy State Bank.
About Happy State Bank:
HAPPY STATE BANK has been providing quality financial services to its friends and neighbors since 1908. It operates through 35 offices in Happy, Abilene, Addison, Allen, Amarillo, Borger, Canadian, Canyon, Dalhart, Dumas, Floydada, Fort Worth, Hereford, Higgins, Lockney, Lubbock, Olton, Pampa, Panhandle, Plainview, Shamrock, Silverton, Stratford, Sunray and Texline and can be found on the web at happybank.com. Member FDIC and Equal Housing Lender.
About Capital Plus Financial:
Capital Plus Financial is a certified community development financial institution (CDFI) dedicated to enhancing the quality of life of the families their mission supports by providing the opportunity for homeownership through residential mortgage loans and other educational services.
The company shares in a belief that we can all do our part to make the dream of homeownership available to an underserved population. Capital Plus Financial is also a B Corp—a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More information is available at: www.capitalplusfin.com.