NEWTON — BankFirst Capital Corporation has merged with Newton County Bancorporation Inc.
The transaction, which is expected to close in the third quarter of 2015, was unanimously approved by the boards of both companies but remains subject to approval by NCB’s shareholders and regulators.
Terms were not disclosed.
Moak Griffin, BankFirst president & CEO, says in a news release that with the merger, BankFirst will grow its total assets from $741 million to $875 million. BankFirst will have 18 branches across 10 Mississippi counties. BankFirst also has a location Tuscaloosa, Alabama.
The acquisition will make BankFirst the 11th largest Mississippi-based banking institution.
Bill Freeman, Newton County Bank president & CEO, will serve as the Newton Community Bank president following the transaction and will also join the BankFirst Board of Directors.
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