Sycamore Bank

BANKFIRST CAPITAL CORPORATION Reports Third Quarter 2023 Earnings of $8.4 Million

Retrieved on: 
Friday, October 27, 2023
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Net interest income increased 26% to $21.6 million in the third quarter of 2023 from $17.1 million in the third quarter of 2022.

Key Points: 
  • Net interest income increased 26% to $21.6 million in the third quarter of 2023 from $17.1 million in the third quarter of 2022.
  • Net interest income was $21.6 million for the third quarter of 2023, compared to $22.7 million for the second quarter of 2023, a decrease of 5%, and compared to $17.1 million for the third quarter of 2022, an increase of 26%.
  • Noninterest income was $10.1 million for the third quarter of 2023, compared to $6.1 million for the second quarter of 2023, an increase of 65%, and compared to $5.4 million for the third quarter of 2022, an increase of 87%.
  • Noninterest expense was $20.0 million for the third quarter of 2023, compared to $20.5 million for the second quarter of 2023 and $15.2 million for the third quarter of 2022, an decrease of 2.1% and an increase of 32.0%, respectively.

BANKFIRST CAPITAL CORPORATION Reports Second Quarter 2023 Earnings of $6.2 Million

Retrieved on: 
Thursday, July 27, 2023
Federal Home Loan Banks, Uncertainty, Federal Reserve Bank, Federal Reserve Bank of St. Louis, Sycamore Bank, ERP, Sale, Acquisition, The Company, Community Facilities Program, Investment, CDFI, FRB, OTCQX, Mechanics Bank, Community development, Bank, Equitable, Bank First, Community development financial institution, Environment, Tate, Total, Video game, Cryptocurrency, Rare-earth element, Financial adviser, Mechanics

Net interest income increased 50% to $22.7 million in the second quarter of 2023 from $15.1 million in the second quarter of 2022.

Key Points: 
  • Net interest income increased 50% to $22.7 million in the second quarter of 2023 from $15.1 million in the second quarter of 2022.
  • Net interest income was $22.7 million for the second quarter of 2023, compared to $23.5 million for the first quarter of 2023, a decrease of 3%, and compared to $15.1 million for the second quarter of 2022, an increase of 50%.
  • Noninterest income was $6.1 million for the second quarter of 2023, compared to $5.5 million for the first quarter of 2023, an increase of 12%, and compared to $5.0 million for the second quarter of 2022, an increase of 24%.
  • Noninterest expense was $20.5 million for the second quarter of 2023, compared to $19.5 million for the first quarter of 2023 and $11.9 million for the second quarter of 2022, an increase of 5% and 72%, respectively.

BANKFIRST CAPITAL CORPORATION Reports First Quarter 2023 Earnings of $7.1 Million

Retrieved on: 
Thursday, April 27, 2023
External commercial borrowing, Federal Home Loan Banks, Federal Reserve Bank, U.S. Department of the Treasury, Office of Inspector General, Federal Reserve Bank of St. Louis, Sycamore Bank, U.S. Department of Defense Strategy for Operating in Cyberspace, Current Expected Credit Losses, Accounting standard, Finance, Treasury, Financial Accounting Standards Board, Acquisition, Community Facilities Program, CDFI, FRB, CECL, OTCQX, Mechanics Bank, Bank, Growth, Community development, Bank First, Environment, Tate, Total, Video game, Cryptocurrency, Risk management, Mechanics

Net income totaled $7.1 million, or $1.33 per share, in the first quarter of 2023 compared to $4.5 million, or $0.85 per share, in the first quarter of 2022.

Key Points: 
  • Net income totaled $7.1 million, or $1.33 per share, in the first quarter of 2023 compared to $4.5 million, or $0.85 per share, in the first quarter of 2022.
  • Net interest income increased 53% to $23.5 million in the first quarter of 2023 from $15.3 million in the first quarter of 2022.
  • Net interest income was $23.5 million for the first quarter of 2023, compared to $21.3 million for the fourth quarter of 2022, an increase of 10%, and $15.3 million for the first quarter of 2022, an increase of 53%.
  • Noninterest income was $5.5 million for the first quarter of 2023, compared to $4.5 million for the fourth quarter of 2022, an increase of 22% and $5.1 million for the first quarter of 2022, an increase of 9%.

BANKFIRST CAPITAL CORPORATION Reports Fourth Quarter 2022 Earnings of $7.0 Million

Retrieved on: 
Monday, January 30, 2023
Bank First, Bank, CECL, Treasury, U.S. Department of the Treasury, Office of Inspector General, Environment, Current Expected Credit Losses, Government, Income tax, Mechanics Bank, OTCQX, Mechanics, PPP, Total, Round 3, Finance, Growth, Forgiveness, Accounting standard, Financial Accounting Standards Board, Tate, Small business, SBA, Sycamore Bank, Acquisition, U.S. Department of Defense Strategy for Operating in Cyberspace, Paycheck Protection Program, Senior, Citizens Bank, Cryptocurrency, Video game

Net interest income increased 32% to $20.4 million in the fourth quarter of 2022 from $15.5 million in the fourth quarter of 2021.

Key Points: 
  • Net interest income increased 32% to $20.4 million in the fourth quarter of 2022 from $15.5 million in the fourth quarter of 2021.
  • Net interest income was $20.4 million for the fourth quarter of 2022, compared to $17.1 million for the third quarter of 2022, an increase of 19%, and $15.5 million for the fourth quarter of 2021, an increase of 23%.
  • Noninterest income was $5.7 million for the fourth quarter of 2022, compared to $5.4 million for the third quarter of 2022, an increase of 5%, and $4.8 million for the fourth quarter of 2021, an increase of 18%.
  • Net loan charge-offs in the fourth quarter of 2022 were $464 thousand, compared to $260 thousand in the third quarter of 2022 and $1.4 million in the fourth quarter of 2021.

BankFirst Capital Corporation Completes Acquisition of Tate Financial Corporation and Sycamore Bank

Retrieved on: 
Monday, October 3, 2022
Newton, Internet, OTC Markets Group, OTC, Sycamore Bank, ATM, Bank, U.S. Bank Center (Milwaukee), Proxy, Bank First, LLC, CD, OTCQX, Acquisition, Investor relations, Disclosure, Tate, Community Bank, Company, Tate County, Mississippi, Tupelo

COLUMBUS, Miss., Oct. 3, 2022 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX:BFCC) ("BankFirst" or the "Company"), parent of BankFirst Financial Services (the "Bank"), today announced the completion of its acquisition of Tate Financial Corporation, a Mississippi corporation ("Tate"), and its wholly-owned banking subsidiary, Sycamore Bank, Senatobia, Mississippi ("Sycamores Bank").

Key Points: 
  • COLUMBUS, Miss., Oct. 3, 2022 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX:BFCC) ("BankFirst" or the "Company"), parent of BankFirst Financial Services (the "Bank"), today announced the completion of its acquisition of Tate Financial Corporation, a Mississippi corporation ("Tate"), and its wholly-owned banking subsidiary, Sycamore Bank, Senatobia, Mississippi ("Sycamores Bank").
  • BankFirst was advised by Olsen Palmer, LLC as financial advisor and Hunton Andrews Kurth LLP is serving as its legal counsel.
  • Tate was advised by Gerrish Smith Tuck, PC as financial advisor and legal counsel, and Southard Financial, LLC provided a fairness opinion to the Tate board of directors.
  • BankFirst Capital Corporation (OTCQX: BFCC) is a registered bank holding company based in Columbus, Mississippi with approximately $2.2 billion in total assets as of June 30, 2022.

BankFirst Capital Corporation to Acquire Mechanics Banc Holding Company and Mechanics Bank

Retrieved on: 
Thursday, September 1, 2022
Newton, Partnership, Phrase, COVID-19, ATM, OTC, Tupelo, Mississippi, CD, OTCQX, Disclosure, Proxy, Disaster, Investor relations, OTC Markets Group, Tate, Mechanics Bank, U.S. Bank Center (Milwaukee), Company, Internet, Bank First, LLC, Sycamore Bank, Bank, Industry, Acquisition, Forward-looking statement, Security (finance), Mechanics

COLUMBUS, Miss., Sept. 1, 2022 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX: BFCC) ("BankFirst" or the "Company"), parent of BankFirst Financial Services (the "Bank"), today announced the signing of a definitive merger agreement with Mechanics Banc Holding Company ("Mechanics"), the parent company of Mechanics Bank, Water Valley, Mississippi ("Mechanics Bank"), under which BankFirst will acquire Mechanics and Mechanics Bank for all-cash consideration.

Key Points: 
  • COLUMBUS, Miss., Sept. 1, 2022 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX: BFCC) ("BankFirst" or the "Company"), parent of BankFirst Financial Services (the "Bank"), today announced the signing of a definitive merger agreement with Mechanics Banc Holding Company ("Mechanics"), the parent company of Mechanics Bank, Water Valley, Mississippi ("Mechanics Bank"), under which BankFirst will acquire Mechanics and Mechanics Bank for all-cash consideration.
  • Cameron Tyler, Chief Executive Officer and Chairman of Mechanics and Mechanics Bank, commented, "This is a great opportunity for our shareholders, customers, employees, and communities.
  • BankFirst Capital Corporation (OTCQX: BFCC) is a registered bank holding company based in Columbus, Mississippi with approximately $2.2 billion in total assets as of June 30, 2022.
  • Mechanics Bank, the subsidiary bank of Mechanics Banc Holding Company, was founded in 1892 to provide quality financial products and services to customers in Yalobusha and Lafayette Counties, Mississippi, who value relationship banking.

BankFirst Capital Corporation to Acquire Tate Financial Corporation and Sycamore Bank

Retrieved on: 
Thursday, June 23, 2022
Newton, Bank, U.S. Bank Center (Milwaukee), Industry, COVID-19, Investor relations, Phrase, Internet, OTC Markets Group, OTCQX, Tate, Company, Disclosure, OTC, LLC, Disaster, Forward-looking statement, Sycamore Bank, ATM, Proxy, Acquisition, Bank First, CD, Security (finance)

COLUMBUS, Miss., June 23, 2022 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX:BFCC) ("BankFirst" or the "Company"), parent of BankFirst Financial Services (the "Bank"), today announced the signing of a definitive merger agreement with Tate Financial Corporation ("Tate"), the parent company of Sycamore Bank, Senatobia, Mississippi ("Sycamore Bank"), under which BankFirst will acquire Tate and Sycamore Bank.

Key Points: 
  • COLUMBUS, Miss., June 23, 2022 /PRNewswire/ -- BankFirst Capital Corporation (OTCQX:BFCC) ("BankFirst" or the "Company"), parent of BankFirst Financial Services (the "Bank"), today announced the signing of a definitive merger agreement with Tate Financial Corporation ("Tate"), the parent company of Sycamore Bank, Senatobia, Mississippi ("Sycamore Bank"), under which BankFirst will acquire Tate and Sycamore Bank.
  • "Jay" Tindall, Jr., Chief Executive Officer and Chairman of Tate and Sycamore Bank, commented, "Tate Financial Corporation and Sycamore Bank are excited to be partnering with a relationship-focused financial institution that has a rich history of supporting its communities and which will provide all Sycamore Bank clients with the same friendly service they are accustomed to and a wider array of services, products and locations.
  • BankFirst Capital Corporation (OTCQX: BFCC) is a registered bank holding company based in Columbus, Mississippi with approximately $2.0 billion in total assets as of March 31, 2022.
  • Sycamore Bank, the subsidiary bank of Tate Financial Corporation, was founded in 1900 to meet the needs of businesses and consumers in its community.