Mergers & Acquisitions
By The Online Investor Staff, updated Wed., Feb. 26, 2:11 PM
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Slide #99. BankFirst Capital Corporation — Traders & Farmers Bancshares, Inc.
Acquirer:
BankFirst Capital Corporation (BFCC)
Acquiree:
Traders & Farmers Bancshares, Inc.
Details:
BankFirst Capital Corporation ("BankFirst" or the "Company") (OTC:BFCC), parent of BankFirst Financial Services (the "Bank"), today announced the signing of a definitive merger agreement with Traders & Farmers Bancshares, Inc., ("T&F"), parent of Traders & Farmers Bank, Haleyville, Alabama, under which BankFirst will acquire T&F. 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. Under the terms of the definitive agreement, shareholders of T&F will receive from BankFirst a mix of cash and shares of BankFirst common stock valued at $49 million in the aggregate, subject to adjustment. The T&F shareholders will also be eligible to receive from T&F a special cash dividend in the amount of $33 million in the aggregate.
Traders & Farmers Bancshares, Inc.: PRIVATE
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