The Magnolia State Corporation (“Magnolia”), the parent company of Magnolia State Bank, today announced it has been acquired by BankFirst Capital Corporation (OTCQX:BFCC) (“BankFirst”), parent company of BankFirst Financial Services.
Olsen Palmer LLC served as financial advisor to The Magnolia State Corporation.
The acquisition results in BankFirst having 52 offices serving Mississippi and Alabama, with total assets of approximately $3.2 billion, gross loans of approximately $2.2 billion, and total deposits of approximately $2.8 billion.
Olsen Palmer remains a top 3 overall M&A advisor nationwide based on the number of transactions advised upon since 2020, according to S&P Global.
Transaction Announcement (PDF)