On June 1, 1888, Merchants and Farmers Bank, in Macon, MS, opened with $20,000 in capital. The first home of the bank was the law office of Judge H. W. Foote, the only building in town with a fireproof vault. During the depression in the 1930s, board members personally pledged high quality municipal bonds to insure the funds of our depositors. This action reassured the depositors, and no run was ever made on the bank.
The 1990s was a decade of great growth as the bank moved into the Golden Triangle. In 1994, the bank added three branches in Columbus, and then branched into West Point on a de novo basis in 1997. In 1999, the bank opened two de novo branches in Starkville. With the rapid expansion of the bank's service area, it was felt that the bank needed a new name — one that would better represent our ability to meet the financial needs of all the people within the communities we serve. For that reason, on July 12, 1999, Merchants & Farmers Bank became BankFirst. We believe the new BankFirst name expresses our desire to be a bank that places the needs of its customers first.
In 2002, BankFirst expanded its service area again by moving into the Greater Jackson area, adding branches in Madison, Flowood and Jackson.
In 2014, the bank further expanded into Tuscaloosa, Alabama, setting BankFirst up for growth in Tuscaloosa and the communities of the West Central region of Alabama.
In May of 2015, BankFirst acquired Newton County Bank, adding additional branches for a total of 18 in the BankFirst network, increasing the bank's total assets in excess of $875 million, and making BankFirst the 11th largest Mississippi-based banking institution, with branches in Flowood, Hickory, Jackson, Lake, Louin, Macon, Madison, Newton, Starkville and West Point, Mississippi, and Tuscaloosa, Alabama.
In March of 2018, BankFirst acquired Oxford, Mississippi-based HomeFirst, Inc., adding a mortgage team and office in Oxford, complementing and enhancing the bank's mortgage platform and expanding its footprint to the Oxford community.
In 2019, BankFirst opened a loan production office in Hattiesburg, Mississippi, and, on April 1, 2019, acquired FNB of Central Alabama, adding branches in Aliceville, Carrollton, Gordo and Northport, Alabama, expanding BankFirst’s footprint to 22 offices in Mississippi and Alabama, and increasing the bank’s assets to $1.3 billion, gross loans to approximately $904 million and total deposits to approximately $1.1 billion—making BankFirst the 9th largest Mississippi-based banking institution. In the same year, BankFirst Capital Corporation was first listed on the OTC:QX stock exchange with the symbol: BFCC.
On July 1, 2020, BankFirst acquired Traders & Farmers Bancshares, Inc. along with its nine Alabama locations in Haleyville, Addison, Arley, Bear Creek, Curry, Double Springs and Lynn, increasing the bank's total assets to approximately $1.8 billion and moving BankFirst from being the 9th largest Mississippi-based banking institution to being the 8th largest.
In 2021, BankFirst announced the opening of loan production offices in Oxford and Biloxi, Mississippi, further expanding the footprint to North Mississippi and the Mississippi Gulf Coast.
BankFirst finalized the acquisition of The Citizens Bank of Fayette on December 31, 2021, extending the bank’s reach in Alabama with its two Fayette, Alabama, locations and increasing the bank’s assets to approximately $2 billion, gross loans to approximately $1.2 billion, and total deposits to approximately $1.8 billion.
In the summer of 2022, BankFirst announced the opening of loan production offices in Birmingham, Alabama, and Tupelo, Mississippi; and the bank entered into a Definitive Agreement to acquire Senatobia-based Tate Financial Corporation and Sycamore Bank with its branch offices in Coldwater, Hernando, Independence, Oxford, Senatobia, and Southaven, Mississippi, increasing the bank’s assets to approximately $2.3 billion.
On September 1, 2022, it was announced that BankFirst Capital Corporation ("BankFirst") agreed to acquire Water Valley based Mechanics Banc Holding Company (Mechanics) along with its five Mechanics Bank branch locations in Oxford and Water Valley, Mississippi.
On October 1, 2022, BankFirst finalized the acquisition of Sycamore Bank, increasing the bank's assets to approximately $2.5 billion and bringing the bank's total number of offices to 38.
At the beginning of 2023, BankFirst and Mechanics Bank finalized their merger, increasing the bank's assets to approximately $2.7 billion with 47 offices across Alabama and Mississippi.
