In 1900, a group of 35 local businessmen and farmers established Senatobia Bank as a home owned community bank dedicated to providing banking services in a friendly and effective manner. The bank’s name change to Sycamore Bank reflects its expansion to a large portion of North Mississippi. Still dedicated to the high standards set by their founders, even today most of the shareholders of their holding company are local. Sycamore Bank demonstrates its commitment to its community by supporting local schools and civic organizations and by sponsoring community events.
BankFirst Capital Corp. in Columbus, Mississippi, agreed to acquire in-state peer Tate Financial Corp., parent of the $330 million-asset Sycamore Bank in Senatobia. The $2 billion-asset BankFirst would gain about $160 million of loans and more than $300 million of deposits in Mississippi, according to Federal Deposit Insurance Corp. data. "Together, the combined company will have over 256 years of community banking experience in Mississippi," BankFirst President and CEO Moak Griffin said in a press release Thursday. "We expect this merger to enhance our ability to continue investing in our products and services, ensuring that we remain competitive on all fronts as the banking industry continues to change and evolve," Griffin added.
Senatobia, a town 8,000 in the Mississippi Delta, is on the rise. This article highlights the beneficial presence of Sycamore Bank, whose main branch is located in Senatobia. "Even though we are a community bank, we offer a full suite of financial services that compete with anyone, even the megabanks," said CEO Jay Tindall. "And unlike the megabanks, all our decisions are made locally and by the people that greet you when you walk in the door."