Welcome to our dedicated page for Bankfirst Cap news (Ticker: BFCC), a resource for investors and traders seeking the latest updates and insights on Bankfirst Cap stock.
BankFirst Capital Corporation (OTCQX: BFCC) is a registered bank holding company headquartered in Columbus, Mississippi, and the parent of BankFirst Financial Services, a community bank founded in 1888 and headquartered in Macon, Mississippi. This news page aggregates company-issued updates and market coverage related to BFCC, giving readers a single place to review the latest developments affecting the bank and its holding company.
Company press releases show that BankFirst regularly reports quarterly and annual earnings, detailing net income, net interest income, net interest margin, loan and deposit balances, credit quality metrics, and liquidity and capital positions. These earnings announcements often include management commentary on economic conditions, loan demand, deposit trends, and credit risk, which can be important for investors and other stakeholders following BFCC.
News items also cover corporate actions and strategic initiatives, such as stock repurchase programs, cash dividend declarations for common shareholders, and participation in the U.S. Department of the Treasury’s Emergency Capital Investment Program (ECIP). In addition, BankFirst uses news releases to announce mergers and acquisitions, including the signing and completion of its acquisition of The Magnolia State Corporation and Magnolia State Bank, as well as prior acquisitions that expanded its presence in Mississippi and Alabama.
Readers can expect BFCC news to include updates on regulatory capital arrangements under ECIP, option agreements with Treasury, Community Development Financial Institution (CDFI) awards, and information on the company’s branch and loan production office network. For anyone tracking BFCC stock, this page provides a convenient way to review historical and recent news about BankFirst Capital Corporation and its banking subsidiary.
BankFirst Capital (OTCQX: BFCC) has declared a cash dividend of $1.00 per share. The dividend will be paid on December 10, 2024, to shareholders who are on record as of December 2, 2024. This announcement was made by President and CEO Moak Griffin, who expressed satisfaction with the company's 2024 dividend distribution.
BankFirst Capital (OTCQX: BFCC) reported Q3 2024 net income of $6.4 million, or $0.97 per share, compared to $6.5 million in Q2 2024 and $8.4 million in Q3 2023. Key metrics show total assets increased 2% to $2.8 billion, total gross loans grew 3% to $1.84 billion, and deposits rose 3% to $2.4 billion year-over-year. The bank maintains strong liquidity with approximately $985.2 million in available sources and credit quality remains robust with non-performing assets at 0.47%. Net interest income was $21.2 million with a margin of 3.44%, while the cost of funds was 2.04%.
BankFirst Capital (OTCQX: BFCC) reported net income of $6.5 million, or $1.09 per share, for Q2 2024, compared to $6.2 million in Q2 2023. Key highlights include:
- Total assets increased 3.6% to $2.8 billion
- Gross loans grew 5% to $1.8 billion
- Deposits rose 3.7% to $2.3 billion
- Net interest income was $20.9 million
- Net interest margin improved to 3.46%
- Credit quality remains strong with non-performing assets at 0.41%
The company announced a $10 million stock repurchase program and repurchased $7.5 million of subordinated notes. BankFirst also paid its first quarterly dividend of $595,000 on preferred stock issued to the U.S. Treasury under the Emergency Capital Investment Program.
BankFirst Capital (OTCQX: BFCC) has announced a stock repurchase program authorized by its board of directors. The program allows for the repurchase of up to $10 million of its common stock. Purchases may occur in the open market or through private negotiations and adhere to SEC regulations, including Rule 10b-18 and Rule 10b5-1. The repurchase program is set to expire on May 21, 2025, unless terminated or extended by the board. The actual repurchase volume will depend on stock performance, market conditions, and other factors. The board's authorization does not require a minimum repurchase amount.
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