BankFirst Capital Corporation (OTCPK:BFCC) signed of a definitive merger agreement to acquire Mechanics Banc Holding Company on September 1, 2022. The consideration will be in all cash. The transaction has been approved by the board of directors of each company, is expected to close in the first quarter of 2023, and is subject to customary closing conditions, including approval from the shareholders of Mechanics and bank regulatory authorities.

BankFirst was advised by Southard Financial, LLC as financial advisor and Hunton Andrews Kurth LLP is serving as its legal counsel. Mechanics was advised by Christopher Olsen and Frank Berndt of Olsen Palmer LLC as financial advisor and Jones Walker LLP as legal counsel. Hunton Andrews Kurth LLP acted as legal advisor to BankFirst Capital Corporation.