BankFirst Capital Corporation, parent of BankFirst Financial Services, 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.
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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.
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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.
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