BankFirst Capital Corporation (OTCQX:BFCC) (“BankFirst”), parent of BankFirst Financial Services, today announced the signing of a definitive merger agreement with Tate Financial Corporation (“Tate”), the parent company of Sycamore Bank, under which BankFirst will acquire Sycamore Bank and its parent holding company.
Olsen Palmer LLC served as financial advisor to BankFirst Capital Corporation.
The transaction has been approved by the board of directors of each company, is expected to close in the third quarter of 2022, and is subject to customary closing conditions, including approval from the shareholders of Tate and bank regulatory authorities.
After the merger is completed, BankFirst will have 41 locations and assets in excess of $2.5 billion.
Olsen Palmer LLC remains one of the top 3 bank M&A advisory firms nationwide as ranked by the total number of whole-bank M&A transactions advised upon over the last three years, according to S&P Global.