Bankfirst Capital Corporation Completes Acquisition Of 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 completion of its previously-announced acquisition of Mechanics Banc Holding Company, a Mississippi corporation ("Mechanics"), and its wholly-owned banking subsidiary, Mechanics Bank, Water Valley, Mississippi ("Mechanics Bank"). The acquisition was effective on January 1, 2023 and results in BankFirst having 47 offices serving Mississippi and Alabama, with total assets of approximately $2.7 billion, gross loans of approximately $1.7 billion, and total deposits of approximately $2.4 billion.
Quick answer
BankFirst Financial Services is acquiring Mechanics Bancorp and Mechanics Bancorp, announced January 3, 2023.
- 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 January 3, 2023. 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 January 3, 2023. 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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