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BankFirst completes acquisition of Magnolia State Corporation

PRIVATEJul 01, 2025

Acquiring Company

BankFirst Capital Corporation

Acquired Company

The Magnolia State Corporation

ColumbusMississippiFinancial ServicesFinanceLendingFinancial ServicesFinanceLendingBankingNon ProfitGovernment

Description

BankFirst Capital Corporation has completed its acquisition of The Magnolia State Corporation and Magnolia State Bank. This event, effective July 1, 2025, expands BankFirst's reach to 52 offices in Mississippi and Alabama. The acquisition impacts total assets and services offered by BankFirst. Notable executives from Magnolia Bank have joined BankFirst's leadership team.

Quick answer

BankFirst Capital Corporation is acquiring The Magnolia State Corporation, announced July 1, 2025. BankFirst Capital Corporation is based in Columbus, Mississippi, United States.

How much did BankFirst Capital Corporation pay for The Magnolia State Corporation?
The deal value was not disclosed.
What does BankFirst Capital Corporation do?
BankFirst Capital Corporation is the parent company of BankFirst Financial Services, which operates to support community development and financial services.
Where are BankFirst Capital Corporation and The Magnolia State Corporation based?
BankFirst Capital Corporation is based in Columbus, Mississippi, United States. The Magnolia State Corporation is based in Mississippi, United States.

Source: Fundz verified event record.

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Company Information

Company

BankFirst Capital Corporation

Location

Columbus, Mississippi, United States

About

BankFirst Capital Corporation is the parent company of BankFirst Financial Services, which operates to support community development and financial services. The company focuses on augmenting efforts to assist small and minority-owned businesses. It participates in various programs aimed at enhancing financial access in underserved communities. BankFirst has been involved in the Emergency Capital Investment Program, placing it in a strategic position for bolstering community financial initiatives.

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Frequently asked

Who acquired The Magnolia State Corporation?

The Magnolia State Corporation was acquired by BankFirst Capital Corporation, based in Columbus. The deal was reported on July 1, 2025. BankFirst Capital Corporation is the parent company of BankFirst Financial Services, which operates to support community development and financial services. BankFirst Capital Corporation is privately held and operates in Financial Services.

When did BankFirst Capital Corporation acquire The Magnolia State Corporation?

BankFirst Capital Corporation's acquisition of The Magnolia State Corporation was reported on July 1, 2025. BankFirst Capital Corporation has completed its acquisition of The Magnolia State Corporation and Magnolia State Bank. This event, effective July 1, 2025, expands BankFirst's reach to 52 offices in Mississippi and Alabama. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does The Magnolia State Corporation do?

The Magnolia State Corporation is the parent company of Magnolia State Bank, which serves the local community with various banking services. It is privately held, operating in Financial Services, and is based in Mississippi.

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