BankFirst Financial Services
For more than 125 years, BankFirst has provided service to Mississippi communities, living up to its motto: "Strength, Stability, and Service." BankFirst has experienced and withstood the Great Depression, expanded to 11 branches, and built a strong foundation of products and services. Thanks to its committed leadership, BankFirst Financial Services has been able to withstand tough economic times, continue to grow, make a profit for its shareholders, and serve the needs of its customers and their communities.
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BankFirst Capital Corp. in Columbus, Mississippi, agreed to acquire in-state peer Tate Financial Corp., parent of the $330 million-asset Sycamore Bank in Senatobia. The $2 billion-asset BankFirst would gain about $160 million of loans and more than $300 million of deposits in Mississippi, according to Federal Deposit Insurance Corp. data. "Together, the combined company will have over 256 years of community banking experience in Mississippi," BankFirst President and CEO Moak Griffin said in a press release Thursday. "We expect this merger to enhance our ability to continue investing in our products and services, ensuring that we remain competitive on all fronts as the banking industry continues to change and evolve," Griffin added.
Earlier this month, BankFirst announced an expansion of its business banking solutions to offer SBA 7a, and 504 loans to small business owners throughout Mississippi and Alabama. With a retail branch network in central Mississippi and Alabama, BankFirst's entrance into SBA lending will allow the bank to better serve its existing communities as well as develop a southeastern presence to offer loan products that help small business owners who may not qualify for conventional loans. Walter W. Dyminski has been hired to lead the bank's Small Business Administration (SBA) lending group.
BankFirst Financial Services in Mississippi has acquired HomeFirst, a mortgage services company in Oxford, Mississippi. The $958 million-asset BankFirst said in a press release that it will retain all of HomeFirst's employees, and will complete the transfer to HomeFirst's customer accounts to BankFirst this month. The bank did not disclose the financial terms of the purchase. "The addition of the HomeFirst team complements and enhances our current mortgage platrorm and establishes a new presence for us in the Oxford community," said Moak Griffin, BankFirst's president and CEO. "We are proud of our 130-year history and we remain committed to helping our customers and communities thrive."