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.
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.