HALEYVILLE - BankFirst Capital Corporation, parent of BankFirst Financial Services, announced today the signing of a definitive merger agreement with Traders & Farmers Bancshares, Inc., parent of Traders & Farmers Bank, Haleyville, under which BankFirst will acquire Traders & Farmers Bancshares, Inc. The transaction has been unanimously approved by the board of directors of each company, is expected to close in the second quarter of 2020, and is subject to customary closing conditions, including approval from the shareholders of T&F and bank regulatory authorities. After the merger is completed, the combined company will operate under the BankFirst brand, have 31 offices serving Mississippi and Alabama and have assets in excess of $1.6 billion. Rickey McCreless, CEO of T&F, commented, "We are excited to partner with BankFirst because they share our core values of customer service and community involvement. Together, with an expanded offering of products, services and resources, we will be better able to serve the needs of for customers and our communities. We also believe that this is an excellent opportunity for our shareholders and employees."
See complete story in the Northwest Alabamian.