BankFirst Capital Corporation completes acquisition of Mechanics Banc Holding Company and Mechanics Bank

Published 10:15 am Tuesday, January 3, 2023

BankFirst Capital Corporation (OTCQX: BFCC) (“BankFirst” or the “Company”), parent of BankFirst Financial Services (the “Bank”), 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 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, while 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 presidents, commercial lenders.

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.

Subscribe to our free email newsletter

Get the latest news sent to your inbox

BankFirst Capital Corporation (OTCQX: BFCC) is a registered bank holding company based in Columbus 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 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, 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.