BankFirst adds to its holdings

COLUMBUS (WCBI) – BankFirst is extending its reach into Alabama.  The Columbus based bank is merging with FNB Bank of Central Alabama.  The deal is expected to close early next year.  When the merger is final the bank will operate as BankFirst in 22 locations.

BELOW IS THE OFFICIAL RELEASE

 

Columbus, Mississippi, November 15, 2018 – BankFirst Capital Corporation
parent of BankFirst Financial Services today announced the signing of a definitive merger agreement with FNB Bancshares of Central Alabama, Inc. 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.”

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