Bankfirst Capital Corporation Completes Acquisition Of Mecha...| MENAFN.COM

Tuesday, 07 February 2023 05:14 GMT

Bankfirst Capital Corporation Completes Acquisition Of Mechanics Banc Holding Company And Mechanics Bank


(MENAFN- iCrowdNewsWire)

BankFirst Capital Corporation, parent of BankFirst Financial Services (the“Bank”), today announced the completion of its previously-announced acquisition of Mechanics Banc Holding Company, a
Mississippi
corporation (“Mechanics”), and its wholly-owned banking subsidiary, Mechanics Bank,
Water Valley, Mississippi
(“Mechanics Bank”). The acquisition was effective on
January 1, 2023
and results in BankFirst having 47 offices serving
Mississippi
and
Alabama, with total assets of approximately
$2.7 billion, gross loans of approximately
$1.7 billion, and total deposits of approximately
$2.4 billion.

Cameron Tyler, Mechanics Bank's Chairman and Chief Executive Officer, has joined the Bank as Oxford Regional Executive, and each of
Charlie Edwards, Mechanics Bank's Vice President and Lender, and
Tyler Hill, Mechanics Bank's Vice President and Chief Credit Officer, have joined the Bank as Senior Vice President, Commercial Lender.

BankFirst was advised by Southard Financial, LLC as financial advisor and Hunton Andrews Kurth LLP is serving as its legal counsel. Mechanics was advised by Olsen Palmer LLC as financial advisor and Jones Walker LLP as legal counsel.

About BankFirst Financial Services

BankFirst Capital Corporation
is a registered bank holding company based in
Columbus, Mississippi
with approximately
$2.2 billion
in total assets as of
September 30, 2022. BankFirst Financial Services, the Company's wholly-owned banking subsidiary, was founded in 1888 and is locally owned, controlled, and operated. The Company is headquartered in
Columbus, Mississippi, and the Bank operates additional branch offices in
Coldwater,
Columbus,
Flowood,
Hattiesburg,
Hernando,
Independence,
Jackson,
Louin,
Macon,
Madison,
Newton,
Oxford,
Senatobia,
Southaven,
Starkville,
Tupelo,
Water Valley, and
West Point, Mississippi; and
Addison,
Aliceville,
Arley,
Bear Creek,
Carrollton,
Curry,
Double Springs,
Fayette,
Gordo,
Haleyville,
Northport, and
Tuscaloosa, Alabama. The Bank also operates five loan production offices in
Biloxi,
Brookhaven, and
Oxford, Mississippi, and
Birmingham, Alabama. BankFirst offers a wide variety of services for businesses and consumers. The Bank also offers internet banking, no-fee ATM access, checking, CD, and money market accounts, merchant services, mortgage loans, remote deposit capture, and more. For more information, visit
Available Information

The Company maintains an Internet web site at
The Company makes available, free of charge, on its web site the Company's annual meeting materials, annual reports, and quarterly earnings reports. In addition, the OTC Markets Group maintains an Internet site that contains reports, proxy and information statements, and other information regarding the Company (at
Company routinely posts important information for investors on its web site (under
more specifically, under the Investor Relations tab at
The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under the OTC Markets Group OTCQX Rules for U.S. Banks.
Accordingly, investors should monitor the Company's web site, in addition to following the Company's press releases, OTC filings, public conference calls, presentations and webcasts.

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