BankFirst Financial Services

Headquarters

900 Main Street
Columbus, MS 39703
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.91% →
1-Year CD 0.25% 0.85% →
2-Year CD 0.25% 0.95% →
5-Year CD 0.35% 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

BankFirst Financial Services is an FDIC insured institution located in Columbus, MS. It was founded in 1888 and has approximately $1.32 billion in assets. Customers can open an account at one of its 18 branches.

FDIC Insured Yes
FDIC Certificate # 8870
Date Established 1888
Assets $ 1,321.75 million
Loans $ 897.31 million
Deposits $ 1,147.72 million
Capital $ 153.58 million
 

For a more detailed analysis of BankFirst Financial Services's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - December 2, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.10% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.10% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.20% $100,000 $199,999 Learn More
12 Mo CD
0.25% $10,000 $14,999 Learn More
12 Mo CD
0.25% $100,000 $199,999 Learn More
18 Mo CD
0.25% $10,000 $14,999 Learn More
18 Mo CD
0.25% $100,000 $199,999 Learn More
24 Mo CD
0.25% $10,000 $14,999 Learn More
24 Mo CD
0.25% $100,000 $199,999 Learn More
30 Mo CD
0.30% $10,000 $14,999 Learn More
30 Mo CD
0.30% $100,000 $199,999 Learn More
36 Mo CD
0.30% $10,000 $14,999 Learn More
36 Mo CD
0.30% $100,000 $199,999 Learn More
48 Mo CD
0.30% $10,000 $14,999 Learn More
48 Mo CD
0.30% $100,000 $199,999 Learn More
60 Mo CD
0.35% $10,000 $14,999 Learn More
60 Mo CD
0.35% $100,000 $199,999 Learn More

 

Loan Rates - December 2, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for BankFirst Financial Services

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
New American Funding
NMLS ID: 6606
2.611% 2.500% 0.88 $3,664 $988 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR
2.990 %
After Intro: 3.500 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to BankFirst Financial Services
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Branches

BankFirst Financial Services branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


BankFirst Financial Services Locations


Financial Details

BankFirst Financial Services Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of BankFirst Financial Services. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
BankFirst Financial Services U.S. Bank Average
6.31% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, BankFirst Financial Services had $10,063,000 in non-current loans and $274,000 in owned real estate. To cover these potential losses it had $153,584,000 in equity and $10,153,000 in loans loss reserves. That gives it a Texas Ratio of 6.31%.

Return on Equity
BankFirst Financial Services U.S. Bank Average
9.33% 7.80%

BankFirst Financial Services has a Return on Equity of 9.33% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
BankFirst Financial Services U.S. Bank Average
11.62% 12.68%

BankFirst Financial Services has a Capitalization of 11.62% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

BankFirst Financial Services Balance Sheet Analysis

As of March 31, 2020, BankFirst Financial Services had assets of $1,321,745,000, loans of $897,305,000, and deposits of $1,147,717,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 63.42 million
Interest-bearing balances $ 19.11 million
Total securities $ 248.51 million
Federal funds sold and reverse repurchase $ 4.90 million
Net loans and leases $ 897.31 million
Loan loss allowance $ 10.15 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.27 million
Goodwill and other intangibles $ 23.86 million
All other assets $ 49.95 million
     Total Assets $ 1,168.16 million
LIABILITIES
Total deposits $ 1,147.72 million
      Interest-bearing deposits $ 898.43 million
      Deposits held in domestic offices $ 1,147.72 million
      % insured (estimated) 86.23%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 10.00 million
Subordinated debt N.A.
All other liabilities $ 10.44 million
      Total Liabilities $ 1,168.16 million
      Shareholders’ Equity $ 153.58 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 12.83 million
Total Interest Expense $ 2.38 million
Net interest income $ 10.45 million
Provision for loan and lease losses $ 0.95 million
Total non interest income $ 4.66 million
Total non interest expense $ 9.84 million
Pre-tax Net Operating Income $ 4.32 million

Bank Loan Profile?

The top three loan types in BankFirst Financial Services’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Mississippi, BankFirst Financial Services has a significantly higher percent of Multifamily Mortgages, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 23.30
Multifamily
Mortgages
7.61
Credit Card Loans 0.23
Consumer Auto Loans 0.31
Small Business Loans 0.00
Construction and Development Loans 10.16
Commercial Real Estate 37.72
Commercial and Industrial Loans 11.72
Farm Loans 2.34

Frequently Asked Questions About Bankfirst Financial Services

Branches and Savings

Is Bankfirst Financial Services FDIC insured?

Yes. It is covered under FDIC Certificate #8870.

Why does Bankfirst Financial Services pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bankfirst Financial Services CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bankfirst Financial Services a commercial bank?

Yes

Where are Bankfirst Financial Services locations?

See branch locations nearby.

Is Bankfirst Financial Services open on Saturdays?

Is Bankfirst Financial Services open on Sundays?

What time does Bankfirst Financial Services open?

What time does Bankfirst Financial Services close?

Are Bankfirst Financial Services ATMs Open 24/7?

Do Bankfirst Financial Services ATMs accept cash deposits?

Can Bankfirst Financial Services customers use other ATMs?

Do Bankfirst Financial Services branches have notaries?

Will Bankfirst Financial Services notarize my document?

What address for Bankfirst Financial Services should I put for incoming ACH transfers?

Will the Bankfirst Financial Services branch print checks?

Do Bankfirst Financial Services checks expire?

Does Bankfirst Financial Services require US citizenship to open account?

Can Bankfirst Financial Services close my account?

Does Bankfirst Financial Services Report to credit bureaus?

Does Bankfirst Financial Services Use Equifax?

What is Bankfirst Financial Services's ACH Routing Number?

What is Bankfirst Financial Services's SWIFT code?

Products

Does Bankfirst Financial Services offer mortgages?

Compare mortgage rates here.

Does Bankfirst Financial Services offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bankfirst Financial Services offer personal loans?

Compare personal loan rates here.

Does Bankfirst Financial Services offer student loans?

Will Bankfirst Financial Services cash a check?

Will Bankfirst Financial Services redeem a savings bond?

Does Bankfirst Financial Services cash savings bonds?

Will Bankfirst Financial Services cash money orders?

Can Bankfirst Financial Services issue a money order?

Does Bankfirst Financial Services do currency exchange?

Background on The Bank

Who owns Bankfirst Financial Services?

How long has Bankfirst Financial Services been around?

Can Bankfirst Financial Services transfer to other banks?

Does Bankfirst Financial Services have quick pay?

Does Bankfirst Financial Services accept rolled coins?

Will Bankfirst Financial Services accept loose change?

Where is Bankfirst Financial Services headquarters?

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