BankFirst Capital Corporation (“BankFirst” or the “Company”), parent of BankFirst Financial Services (the “Bank”), today announced the signing of a definitive merger agreement with FNB Bancshares of Central Alabama, Inc., (“FNB Bancshares”), parent of FNB of Central Alabama, under which BankFirst will acquire FNB Bancshares. The transaction has been unanimously approved by the board of directors of each company, is expected to close in the first quarter of 2019, and is subject to customary closing conditions, including approval from the shareholders of FNB Bancshares and bank regulatory authorities.
In making the announcement, BankFirst’s President and Chief Executive Officer, Moak Griffin said, “Being a strong, local community bank for the communities we serve is extremely important to both BankFirst and FNB of Central Alabama. By combining our 183 years of banking experience in Mississippi and Alabama, this merger will allow us to build upon and further strengthen our shared beliefs, community focus and commitment to service excellence. In addition, this merger supports our strategic intention of partnering with organizations that have strong core deposit funding, solid commercial banking and credit practices, and a long tradition of superior community and customer service.”
See complete story in the Pickens County Herald.