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Corporate Profile

ABOUT BANKFIRST CAPITAL CORPORATION

BankFirst Capital Corporation is a $1.3 billion financial institution that is locally owned, controlled, and operated. Its subsidiary, BankFirst Financial Services is headquartered in Columbus, Mississippi, with additional offices in Flowood, Hickory, Lake, Louin, Macon, Madison, Newton, Jackson, Starkville and West Point, Mississippi; and Aliceville, Carrollton, Gordo, Northport, and Tuscaloosa, Alabama. BankFirst also operates one mortgage production office in Oxford, Mississippi.

BankFirst Financial Services offers a wide variety of services for businesses and consumers, including internet banking, no-fee ATM access, checking, CD, money market accounts, mortgage loans, remote deposit capture, and more. For more information, visit BankFirst's website

BankFirst Capital - OTCQX

 

 

Charles David Barge

Vice President, Operations
Barge Timberland Management

Haley Reeves Fisackerly

President and CEO
Entergy Mississippi, Inc.

William L. Freeman

Former President and CEO
Newton County Bank

Andrew Moak Griffin

President and CEO
BankFirst Financial Services

Joe D. Hollis

President
Hollis Roofing, Inc.

Edward Frank Hopper

President
Ellis Steel Company, Inc.

Edwin C. Mauck

Owner
Hopkins Insurance, LLC.

Phillip O. McGuire Sr.

Owner and President
McGuire's Jewelry, Inc.
Owner and Managing Partner
POM Properties, LLC.

Gregory C. Rader

Cheif Executive Officer
Columbus Recycling Corporation 

James Robert (Bob) Shearer

CPA
Smith Shellnut Wilson

George D. Sherman

Owner
George Sherman Clothiers

Camille Young

Vice President
Cornerstone Government Affairs

What is the current BFCC stock price?
The stock price will vary and be based on prices that buyers and sellers are willing to accept for their shares. You can view the current price for BFCC stock by visiting https://otcmarkets.com/stock/BFCC

What is the process for selling my shares?
Please call Eric Lawless at the information below or your local Broker.

Eric B. Lawless
Email: [email protected]
Phone: 404-601-7202
Cell: 678-873-1377

What has changed about the way I can buy/sell BankFirst Capital Corporation (BFCC) Stock?
BFCC stock has previously only been available to trade through individually negotiated transactions between buyers and sellers and only through physical delivery of stock. FIG Partners will now serve as a "market maker" in our stock, which allows them to serve as both a buyer and seller in the stock, to help expedite the trading process. Additionally, BFCC stock will be able to be held in book entry format to facilitate elactronic settlements which will eliminate the nedd for physical delivery of shares that have been converted to book entry.

What does "physical delivery" mean?
Physical delivery refers to the process whereby publicly-traded shares of a bank stock are delivered to the buyer/seller for settlement. Physical delivery means actul certified shares have to be mailed in a process that can take 2-4 weeks to settle a trade.

What does "book entry" mean?
Book entry is the term commonly used to describe bank stocks that are not issued in a certificate form, but are held in electronic form at a Broker. Book entry holders recieve a statement from the Broker showing ownership details. Book entry registered bank stocks help support a much faster process when buying or selling shares compared to physical delivery.

What is the commision cost?
FIG charges a commision of 1% of the stock price. Should you use a different broker, please ask for a list of potential fees that may be charged.

Can I use my existing broker relationship to sell the stock?
You may or may not be able to use your existing broker to sell BFCC stock, depending largely on your broker and what firm they are associated with.

What if I have lost my shares, or if I need to update ownership information?
Lost shares must be replaced first before any transaction can go forward. Similarly, ownership must be accurate prior to completing a transaction. Replacment certificates may be requested by contacting IssuerDirect (the Bank's transfer Agent)
IssuerDirect can be contacted by phone at (919) 744-2722

What is a "Transfer Agent"?
The transfer agent is the company contract by the Company to provide record keeping of all shareholders holdings and transactions. IssuerDirect serves as the TRansfer Agent for BankFirst Captial Corporation.

BankFirst Capital Corporation to Webcast Live at VirtualInvestorConferences.com September 26th

Company invites individual and institutional investors, as well as advisors and analysts, to attend real-time, interactive presentations on VirtualInvestorConferences.com

Virtual Investor Conference Logo

COLUMBUS, Miss., Sept. 20, 2019 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX:BFCC), based in Columbus, MS, today announced that Moak Griffin, President and CEO, and Luke Yeatman, Chief Financial Officer, will present live at VirtualInvestorConferences.com on September 26th.

DATE: Thursday, September 26th
TIME: 1:00 PM ET
LINK: https://tinyurl.com/926BankVIC

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.VirtualInvestorConferences.com.

About BankFirst Capital Corporation

BankFirst Financial Services, the subsidiary bank of BankFirst Capital Corporation, is a $1.3 billion financial institution that is locally owned, controlled, and operated. The Bank's headquarters is in Columbus, Mississippi, with additional offices in Flowood, Hickory, Lake, Louin, Macon, Madison, Newton, Jackson, Starkville and West Point, Mississippi and Aliceville, Carrollton, Gordo, Northport, and Tuscaloosa, Alabama. The Bank also operates one mortgage production office in Oxford, Mississippi. BankFirst Financial Services offers a wide variety of services for businesses and consumers, including internet banking, no-fee ATM access, checking, CD, and money market accounts, mortgage loans, remote deposit capture, and more. For more information, visit www.bankfirstfs.com.

About Virtual Investor Conferences

Virtual Investor Conferences is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

 


 

BankFirst Capital Corporation Reports Record Second Quarter 2019 Earnings Of $2.9 Million

COLUMBUS, Miss.July 15, 2019 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX: BFCC) (the "Company") reported record net income of $2.9 million for the second quarter of 2019, an increase of 16% over net income of $2.5 million for the second quarter of 2018.  Basic and diluted earnings per share for both the second quarter of 2019 and 2018 was $0.65.  Net income was $5.3 million for the six months ended June 30, 2019, an increase of $0.5 million, or 8.2%, as compared to net income of $4.9 million for the six months ended June 30, 2018.  Basic and diluted earnings per share for the six months ended June 30, 2019 and 2018 was $1.25 and $1.26, respectively.  Earnings for the six months ended June 30, 2019 were impacted by $454 thousand (after tax) of merger-related expenses.

Total assets were $1.3 billion at June 30, 2019, as compared to $960.9 million at June 30, 2018, an increase of 33%. Net loans outstanding at June 30, 2019 totaled $919.0 million, as compared to net loans outstanding at June 30, 2018 of $749.6 million, an increase of 22%.  Asset quality remained solid with non-performing assets to total assets at 0.77% as of June 30, 2019, down from 1.00% as of June 30, 2018.

Non-interest-bearing deposits increased to $227.0 million as of June 30, 2019, a 43% increase from June 30, 2018.  Non-interest-bearing deposits represented 21% of total deposits at June 30, 2019.  Total deposits as of June 30, 2019 were $1.1 billion, an increase of $261.7 million from June 30, 2018.

As of June 30, 2019, the Company's tangible book value per share was $19.25.  According to OTCQX, there was one trade during the second quarter of 2019 for a total of 500 shares at a price of $25.10 per share.  The closing share price on June 30, 2019 was $25.10.  Based on this closing share price, the Company's market cap was $112.6 million as of June 30, 2019.

Moak Griffin, President and Chief Executive Officer of the Company and BankFirst Financial Services, the Company's wholly-owned subsidiary bank, stated, "We are proud of our results for the second quarter of 2019.  In addition to achieving record earnings, we also completed our recent acquisition of FNB Bancshares of Central Alabama, Inc.  We are pleased with the positive impact that the acquisition has had for BankFirst and our shareholders.  We believe our new expanded footprint will lead to more growth opportunities moving forward." 

ABOUT BANKFIRST CAPITAL CORPORATION  

BankFirst Financial Services, the subsidiary bank of BankFirst Capital Corporation, is a $1.3 billion financial institution that is locally owned, controlled, and operated.  The Bank is headquartered in Columbus, Mississippi, with additional offices in FlowoodHickoryLakeLouinMaconMadisonNewtonJacksonStarkville and West Point, Mississippi and AlicevilleCarrolltonGordoNorthport, and Tuscaloosa, Alabama.  The Bank also operates one mortgage production office in Oxford, Mississippi.  BankFirst Financial Services offers a wide variety of services for businesses and consumers, including internet banking, no-fee ATM access, checking, CD, and money market accounts, mortgage loans, remote deposit capture, and more.  For more information, visit www.bankfirstfs.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Company's goals and expectations with respect to future events that are subject to various risks and uncertainties, and (ii) statements preceded by, followed by, or that include the words "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).  Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include, but are not limited to: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel.  Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate.  Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized.  The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans or expectations contemplated by the Company will be achieved.  All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.  The forward-looking statements are made as of the date of this press release.  The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. 

BankFirst Capital Corporation 
Unaudited Consolidated Balance Sheets
June 30, 2019 and December 31, 2018
(In Thousands, Except Per Share Data)

 

2019

 

2018

Assets

     

Cash and due from banks

$      33,659

 

$   17,446

Interest bearing bank balances

19,931

 

12,781

Federal funds sold 

7,569

 

-

Available-for-sale securities

199,927

 

123,337

       

Loans

922,409

 

766,835

Allowance for loan losses

(9,399)

 

(8,300)

Loans, net of allowance for loan losses

913,010

 

758,535

       

Premises and equipment

31,659

 

19,906

Interest receivable

4,702

 

3,733

Goodwill

19,525

   

Intangible assets

4,763

 

4,033

Other

44,899

 

35,275

       

Total assets

$ 1,279,644

 

$ 975,046

       

Liabilities and Stockholders' Equity

     

Liabilities

     

Deposits

$ 1,106,178

 

$ 828,631

Notes payable

36,250

 

43,636

Subordinated debentures

16,341

 

5,000

Interest payable

1,343

 

646

Other 

8,880

 

6,770

Total liabilities

1,168,992

 

884,683

       

Stockholders' Equity

     

Common stock, $0.30 par value, 15,000,000 shares authorized,

     

4,486,184 and 3,877,074 shares issued and outstanding

1,346

 

1,163

Additional paid-in capital

42,532

 

29,923

Retained earnings

65,383

 

60,104

Accumulated other comprehensive income (loss)

1,391

 

(827)

Total stockholders' equity

110,652

 

90,363

       

Total liabilities and stockholders' equity

$ 1,279,644

 

$ 975,046

BankFirst Capital Corporation
Unaudited Consolidated Statements of Income
Six Months Ended June 30, 2019 and Year to date December 31, 2018
(In Thousands, Except Per Share Data)

 

2019

 

2018

Interest Income

     

Interest and fees on loans

$ 21,143

 

$ 35,766

Taxable securities

1,810

 

2,125

Tax-exempt securities

393

 

816

Federal funds sold 

562

 

111

Interest bearing bank balances

44

 

33

Total interest income

23,952

 

38,851

       

Interest Expense

     

Deposits

4,072

 

4,407

Short-term borrowings

-

 

81

Federal Home Loan Bank advances

411

 

358

Other borrowings

673

 

783

Total interest expense

5,156

 

5,629

       

Net Interest Income

18,796

 

33,222

       

Provision for Loan Losses

677

 

1,680

       

Net Interest Income After Provision for Loan Losses

18,119

 

31,542

       

Noninterest Income

     

Service charges on deposit accounts

2,383

 

4,706

Mortgage income

1,049

 

1,299

Interchange income

1,208

 

2,203

Net realized gains (losses) on available-for-sale securities

221

 

47

Other

1,407

 

1,604

Total noninterest income

6,268

 

9,859

       

Noninterest Expense

     

Salaries and employee benefits

9,636

 

15,383

Net occupancy expenses

972

 

1,756

Equipment and data processing expenses

1,628

 

2,820

Other

5,225

 

8,987

Total noninterest expense

17,461

 

28,946

       

Income Before Income Taxes

6,926

 

12,455

       

Provision for Income Taxes

1,647

 

2,647

       

Net Income

$   5,279

 

$   9,808

       

Basic Earnings Per Common Share

$     1.25

 

$     2.53

       

Diluted Earnings Per Common Share

$     1.25

 

$     2.51

 


 

BankFirst Capital Corporation Completes Acquisition of FNB Bancshares of Central Alabama, Inc.

Columbus, Mississippi, April 1, 2019 – BankFirst Capital Corporation (“BankFirst” or the “Company”), parent of BankFirst Financial Services (the “Bank”), today announced the completion of its acquisition of FNB Bancshares of Central Alabama, Inc. (“FNB Bancshares”), parent of FNB of Central Alabama (“FNB”). The acquisition will result in BankFirst having 22 offices serving Mississippi and Alabama, with total assets of approximately $1.3 billion, gross loans of approximately $937 million and total deposits of approximately $1.2 billion.

BankFirst’s President and Chief Executive Officer, Moak Griffin, reiterated, “Being a strong, local community bank for the communities we serve is extremely important to both BankFirst and FNB of Central Alabama. By combining our 183 years of banking experience in Mississippi and Alabama, this merger will allow us to build upon and further strengthen our shared beliefs, community focus and commitment to service excellence. In addition, this merger supports our strategic intention of partnering with organizations that have strong core deposit funding, solid commercial banking and credit practices, and a long tradition of superior community and customer service.”

R. Heyward Gould, Jr., FNB’s President and Chief Executive Officer, has joined the Bank as Alabama Regional President, Virginia Lee, FNB’s Chief Financial Officer, has joined the Bank as Corporate Accountant, and Jennifer James, FNB’s Senior Credit Officer, has joined the Bank as Vice President, Credit Administration.

Hunton Andrews Kurth LLP acted as legal counsel for BankFirst. Jones Walker LLP acted as legal counsel for FNB Bancshares.

About BankFirst Financial Services

BankFirst Financial Services, the subsidiary bank of BankFirst Capital Corporation, is a $1.3 billion financial institution that is locally owned, controlled, and operated. The Bank’s headquarters is in Columbus, Mississippi, with additional offices in Flowood, Hickory, Lake, Louin, Macon, Madison, Newton, Jackson, Starkville and West Point, Mississippi and Tuscaloosa, Alabama. The Bank also operates one mortgage production office in Oxford, Mississippi. BankFirst Financial Services offers a wide variety of services for businesses and consumers, including internet banking, no-fee ATM access, checking, CD, and money market accounts, mortgage loans, remote deposit capture, and more. For more information, visit www.bankfirstfs.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Company's goals and expectations with respect to the private placement, and (ii) statements preceded by, followed by, or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook” or similar expressions. These statements are based upon the current belief and expectations of the Company’s management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

 


 

BankFirst Capital Corporation to Acquire FNB Bancshares of Central Alabama

Columbus, Mississippi, November 15, 2018 – BankFirst Capital Corporation (“BankFirst” or the “Company”), parent of BankFirst Financial Services (the “Bank”), today announced the signing of a definitive merger agreement with FNB Bancshares of Central Alabama, Inc., (“FNB Bancshares”), parent of FNB of Central Alabama, under which BankFirst will acquire FNB Bancshares. The transaction has been unanimously approved by the board of directors of each company, is expected to close in the first quarter of 2019, and is subject to customary closing conditions, including approval from the shareholders of FNB Bancshares and bank regulatory authorities.

In making the announcement, BankFirst’s President and Chief Executive Officer, Moak Griffin said, “Being a strong, local community bank for the communities we serve is extremely important to both BankFirst and FNB of Central Alabama. By combining our 183 years of banking experience in Mississippi and Alabama, this merger will allow us to build upon and further strengthen our shared beliefs, community focus and commitment to service excellence. In addition, this merger supports our strategic intention of partnering with organizations that have strong core deposit funding, solid commercial banking and credit practices, and a long tradition of superior community and customer service.”

After the merger is completed, the combined company will operate under the BankFirst brand, have 22 offices serving Mississippi and Alabama, and have assets in excess of $1.2 billion.

R. Heyward Gould, Jr., President and Chief Executive Officer of FNB of Central Alabama, commented, “Our customers will benefit from this merger through an increased legal lending limit, more diversified product offerings, and a continued focus on technology solutions in banking. The close proximity of the corporate headquarters will enable us to continue to offer local decision making. Best of all, the customers’ relationships with the bankers they’ve worked with in the past will continue unchanged as we become part of the BankFirst team.”

BankFirst was advised by FIG Partners as financial advisor and Hunton Andrews Kurth LLP is serving as legal counsel. FNB Bancshares was advised by Porter White Capital, LLC as financial advisor and Jones Walker LLP is serving as legal counsel.

About BankFirst Financial Services

BankFirst Financial Services, the subsidiary bank of BankFirst Capital Corporation, was founded in 1888 and is a $974.1 million financial institution that is locally owned, controlled, and operated. The Bank’s headquarters is in Columbus, Mississippi, with additional offices in Flowood, Hickory, Jackson, Lake, Louin, Macon, Madison, Newton, Starkville and West Point, and Tuscaloosa, 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 www.bankfirstfs.com.

About FNB of Central Alabama

FNB of Central Alabama, the subsidiary bank of FNB Bancshares of Central Alabama, Inc., was founded in 1965 to meet the needs of business and consumers in central Alabama. A $273.2 million financial institution, FNB of Central Alabama is headquartered in Tuscaloosa, Alabama, with additional offices in Aliceville, Carrollton, Gordo and Northport, Alabama. FNB of Central Alabama offers a wide variety of consumer and business products including banking technology. For more information, visit www.fnbca.com.

Cautionary Statement Regarding Forward-Looking Statements

Forward-looking statements in this press release, such as statements relating to future plans and expectations, are subject to risks, uncertainties, and other important factors, such as continued economic difficulties at local, national, or global levels, greater than expected noninterest expenses, regulatory changes, unpredictable natural or other disasters, or a deterioration in credit quality, which could cause actual results to differ materially from our expectations of future results, performance or achievements, or industry results, expressed or implied by such forward-looking statements. These statements are “forward looking statements” for purposes of applicable securities laws, and are based on current information and/or management's good faith belief as to future events. The words “believe,” “expect,” “anticipate,” “project,” “should,” and similar expressions signify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance.

BankFirst Capital Corporation and FNB Bancshares of Central Alabama, Inc. undertake no obligation to revise or update publicly any forward-looking statements for any reason.

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