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May 5, 2020 · Precursor

Board moves half of Herring Bank's corpus portfolio to Happy State Bank and reopens the search

After a request for proposals for part of the District's corpus investments drew four responses, the Finance Committee on May 4, 2020 recommended moving half of the roughly $77 million managed by Herring Bank to Happy State Bank and issuing a new request for proposals for the rest. The Board of Managers approved the recommendation 7-0 the next day. Amarillo National Bank managed about $95 million at the time.^[1]^[2]

What the sources say

✓ Verified
The Finance Committee minutes record that Amarillo National Bank managed $95 million and Herring Bank $77 million of the corpus; the request for proposals covered only Herring's portion and drew responses from Happy State Bank, Herring Bank, Amarillo National Bank and Chandler Investments. ^[1]
✓ Verified
The committee voted 3-0 to award half of the Herring portfolio to Happy State Bank and issue a new request for proposals for the remainder; the Board of Managers approved the recommendation 7-0 on May 5, 2020. ^[1]^[2]
✓ Verified
On January 28, 2020 the Finance Director reported a District fund balance of $182,204,806 at December 31, 2019, with total expenses of $5,943,941 so far that fiscal year, the largest being a $4,487,952 LPPF intergovernmental transfer to the State. ^[3]
Fund balance
$182,204,806

Sources

1.Amarillo Hospital District Finance Committee minutes, May 4, 2020 — Amarillo Hospital District Finance Committee (via City of Amarillo CivicClerk), Aug 10, 2020 · retrieved Oct 22, 2026primarySubject-authoredPublished date is the approval date: approved at the Finance Committee meeting of August 10, 2020. Same text is also posted under the Board of Managers listing as fileId 1327. Items: award of half of the Herring Bank portfolio to Happy State Bank; letter agreement with NWTH on indigent care payment calculation.
2.Amarillo Hospital District Board of Managers minutes, May 5, 2020 — Amarillo Hospital District Board of Managers (via City of Amarillo CivicClerk), Aug 11, 2020 · retrieved Oct 22, 2026primarySubject-authoredPublished date is the approval date: approved at the Board meeting of August 11, 2020. Items: money manager award (7-0); NWTH letter agreement (7-0); FY2019 audit presentation.
3.Amarillo Hospital District Board of Managers minutes, January 28, 2020 — Amarillo Hospital District Board of Managers (via City of Amarillo CivicClerk), May 5, 2020 · retrieved Oct 22, 2026primarySubject-authoredPublished date is the approval date: approved at the Board meeting of May 5, 2020. Quarterly financial statements at December 31, 2019 (fund balance $182,204,806); LPPF rate for state fiscal year 2020; pension plan actuarial report.