BankFirst of Columbus (Mississippi) has announced the signing of a merger agreement with Magnolia State Bank of Bay Springs.
In the deal, BankFirst will acquire Magnolia and Magnolia Bank. The transaction has been unanimously approved by the board of directors of each company, according to a statement from BankFirst. It is expected to close in the third quarter of 2025, and is subject to closing conditions , including approval from the shareholders of Magnolia and bank regulatory authorities.
“We believe our proposed acquisition of Magnolia State Bank will further strengthen BankFirst as we continue to grow and expand our presence in the South Mississippi market,” said Moak Griffin, BankFirst’s president and chief executive officer, in the statement. “This strategic alliance reinforces our commitment to delivering exceptional customer service and financial solutions that meet the needs of our customers. We are eager to build strong relationships with Magnolia’s employees and customers, and we look forward to the positive impact we believe this merger will bring to the communities we serve.”…