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BankFirst Capital Closes Acquisition of Traders and Farmers Bancshares
Tuesday 07 July 2020

Mississippi, US-based BankFirst Capital Corp. (OTC: BFCC), parent of BankFirst Financial Services, has closed the acquisition of Traders and Farmers Bancshares, Inc., parent of Traders and Farmers Bank, to acquire T and F, in a deal valued at USD 49m, the company said.

Under the terms of the definitive agreement, shareholders of T and F will receive from BankFirst a mix of cash and shares of BankFirst common stock valued at USD 49m in the aggregate, subject to adjustment.
The T and F shareholders will also be eligible to receive from T and F a special cash dividend in the amount of USD 33m in the aggregate.

The acquisition results in BankFirst having 32 locations serving Mississippi and Alabama, with total assets of approximately USD 1.8bn, gross loans of approximately USD 1bn and total deposits of approximately USD 1.5bn.

BankFirst Financial Services is a USD 1.3bn financial institution headquartered in Columbus, Mississippi.
Traders and Farmers Bank is a USD 366m financial institution headquartered in Haleyville, Alabama.
BankFirst was advised by Olsen Palmer, LLC as financial advisor and Hunton Andrews Kurth LLP is serving as legal counsel. T and F was advised by Porter White Capital, LLC as financial advisor and Bradley Arant Boult Cummings LLP is serving as its legal counsel.
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Date Published: 07/07/2020

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