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BankFirst Capital Corporation (BFCC) reports company developments tied to its role as the public parent of BankFirst Financial Services, its wholly owned subsidiary bank. Recurring news includes operating and financial results, cash dividend declarations, capital-structure disclosures, governance matters, shareholder voting items and material agreements.
The company's updates focus on bank holding company actions, common-stock dividends, board-level decisions and financial reporting for an OTCQX-traded issuer.
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BankFirst Capital Corporation (OTCQX: BFCC) reported strong financial results for Q4 2022, with net income reaching $7.0 million ($1.31 per share), up from $5.3 million ($1.00 per share) in Q3 2022 and $4.4 million ($0.84 per share) in Q4 2021. The company’s total assets increased 37% year-over-year to $2.5 billion, driven by significant loan and deposit growth. Total loans rose by 26% to $1.5 billion, while total deposits increased 32% to $2.1 billion. The company also completed acquisitions of Tate Financial Corporation and Mechanics Banc Holding Company, expanding its operations and asset base substantially.
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BankFirst Capital Corporation (OTCQX: BFCC) has successfully completed its acquisition of Mechanics Banc Holding Company and its subsidiary, Mechanics Bank, effective January 1, 2023. With this acquisition, BankFirst expands its operations to 47 locations across Mississippi and Alabama, increasing its total assets to approximately $2.7 billion, gross loans to about $1.7 billion, and total deposits to roughly $2.4 billion. Key executives from Mechanics join BankFirst, enhancing its regional leadership.
BankFirst Capital Corporation (OTCQX: BFCC) declared a cash dividend of $0.85 per share on November 17, 2022. This dividend is payable on December 9, 2022, for shareholders recorded as of December 1, 2022. With total assets around $2.2 billion as of September 30, 2022, the company continues to exhibit confidence in shareholder returns through consistent dividend payments. This marks a continued commitment to rewarding investors amidst a stable financial backdrop.
BankFirst Capital Corporation (OTCQX:BFCC) has successfully completed its acquisition of Tate Financial Corporation and its subsidiary, Sycamore Bank, enhancing its operational footprint in Mississippi and Alabama. This strategic move expands BankFirst's network to 38 offices, with total assets now approximated at $2.5 billion, gross loans at $1.4 billion, and total deposits reaching $2.1 billion. Key executives from Sycamore Bank have transitioned to roles within BankFirst, signaling a consolidation of leadership.
BankFirst Capital Corporation (OTCQX: BFCC) announced a definitive merger agreement to acquire Mechanics Banc Holding Company, the parent of Mechanics Bank, for all-cash consideration. This transaction, approved by both boards, is expected to close in Q1 2023, pending shareholder and regulatory approvals. BankFirst aims to expand its presence in the Water Valley and Oxford markets, enhancing community banking services with over 264 years of combined experience. Post-merger, BankFirst will operate 47 offices across Mississippi and Alabama, boasting assets exceeding $2.7 billion.
BankFirst Capital Corporation (OTCQX:BFCC) announced the opening of a new loan production office (LPO) in Tupelo, Mississippi, enhancing its market presence in northeast Mississippi. The LPO, located at 431 West Main Street, will be overseen by Jamie Osbirn, who has over 20 years of banking experience in the area. With this addition, BankFirst now operates 36 offices across Mississippi and Alabama, boasting assets exceeding $2 billion. President Moak Griffin expressed enthusiasm for serving the community's lending needs with this expansion.