Bankfirst Capital Corporation To Acquire Mechanics Banc Holding Company And Mechanics Bank
Acquiring Company
BankFirst Financial Services
Acquired Company
Mechanics Bancorp
Walnut CreekWalnut CreekFinancial ServicesFinanceLendingBankingFinancial ServicesFinanceLendingBankingDescription
BankFirst Capital Corporation (OTCQX: BFCC) ("BankFirst" or the "Company"), parent of BankFirst Financial Services (the "Bank"), today announced the signing of a definitive merger agreement with Mechanics Banc Holding Company ("Mechanics"), the parent company of Mechanics Bank, Water Valley, Mississippi ("Mechanics Bank"), under which BankFirst will acquire Mechanics and Mechanics Bank for all-cash consideration. The transaction has been approved by the board of directors of each company, is expected to close in the first quarter of 2023, and is subject to customary closing conditions, including approval from the shareholders of Mechanics and bank regulatory authorities.
Quick answer
BankFirst Financial Services is acquiring Mechanics Bancorp and Mechanics Bancorp, announced September 1, 2022.
- How much did BankFirst Financial Services pay for Mechanics Bancorp?
- The deal value was not disclosed.
- What does BankFirst Financial Services do?
- BankFirst Financial Services, the wholly-owned banking subsidiary of BankFirst Capital Corporation, was founded in 1888 and, as of September 30, 2021, is a $1.8 billion financial institution that is locally owned,..
- Where are BankFirst Financial Services and Mechanics Bancorp based?
- Mechanics Bancorp is based in Walnut Creek, California, United States.
Source: Fundz verified event record.
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Frequently asked
Who acquired Mechanics Bancorp?
Mechanics Bancorp was acquired by BankFirst Financial Services. The deal was reported on September 1, 2022. BankFirst Financial Services is privately held.
When did BankFirst Financial Services acquire Mechanics Bancorp?
BankFirst Financial Services's acquisition of Mechanics Bancorp was reported on September 1, 2022. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Mechanics Bancorp do?
Mechanics Bancorp is the holding company for Mechanics Bank, which is a community-focused bank operating in the West Coast. The bank has a footprint with 166 branches and approximately $22.7 billion in assets. It is publicly traded (MCHB), operating in Financial Services, and is based in Walnut Creek.
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