BankFirst Capital in Columbus, Miss., has agreed to buy F.B.H. Corp. in Fayette, Ala.
The $1.8 billion-asset BankFirst said in a press release Thursday that it expects to buy the parent of the $223 million-asset Citizens Bank of Fayette in the fourth quarter. BankFirst did not disclose the price it will pay.
“We are excited about the proposed acquisition … and believe the cultural alignment between our organizations is strong,” Moak Griffin, BankFirst’s president and CEO, said in the release.
“We believe this acquisition furthers our vision of partnering with other community banks that have strong core deposit funding and a tradition of relationship building, customer service, and community involvement,” Griffin added. “We are eager to further expand our community banking model in … Alabama by operating two locations in .”
Robert Mills, Citizens Bank’s president and CEO, will become BankFirst’s Fayette regional executive.
BankFirst was advised by Olsen Palmer and Hunton Andrews Kurth. F.H.B. was advised by Gerrish Smith Tuck Consultants and Gerrish Smith Tuck.