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How a Texas CEO Made a Difficult Sale Work for His Shareholders, His Bank and Himself
Naomi Snyder, editor-in-chief at Bank Director
How do you raise money from investors at $10 per share and then turn around a year and a half later and ask them to approve a sale of your bank at $7 per share? That's exactly what Kevin Hanigan did. The scrappy CEO of a $508-million asset bank in Texas made himself the CEO of a $3.2-billion asset bank by selling his bank to a larger institution, and persuading his shareholders that taking less is more, at least in the long haul. It seemed to work out not just for Hanigan, but the shareholders, too. Background Highlands Bancshares Inc....
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Editor-in-Chief Naomi Snyder is in charge of the editorial coverage at Bank Director. She oversees the magazine and the editorial team’s efforts on the Bank Director website, newsletter and special projects. She has more than two decades of experience in business journalism and spent 15 years as a newspaper reporter. She has a master’s degree in journalism from the University of Illinois and a bachelor’s degree from the University of Michigan. You can contact Naomi at firstname.lastname@example.org.