MC Bancshares Secures Shareholder Approval for Strategic Merger With DMMS Purchaser, Inc.

MC Bancshares Secures Merger Approval

On March 13, 2026, during a special shareholder meeting, MC Bancshares, Inc. achieved a milestone by receiving overwhelming approval for its proposed merger with DMMS Purchaser, Inc. This significant step reflects strong support from shareholders, with 93% participating and an impressive 92.19% casting votes in favor of the merger.

Christopher LeBato, President and CEO of M C Bank, expressed gratitude towards the shareholders for their engagement and support, emphasizing that this vote demonstrates their confidence in the bank's future and the opportunities it presents. ”This merger positions us for enhanced growth and allows us to continue our commitment to community-centric banking,” LeBato stated, indicating the positive outlook for the merged entity.

The union with DMMS is envisioned to fortify M C Bank's growth trajectory by broadening its capabilities and providing better resources for its customers while remaining committed to the principles of community banking. Chairman of the Board, Kenny Nelkin, reiterated the positive sentiment drawn from shareholder engagement, viewing it as a significant milestone in their strategic journey.

In addition to shareholder support, DMMS has successfully attracted nearly $200 million from more than 400 investors as part of its capital raise efforts to finalize the merger. This financial backing reflects strong confidence in the combined potential of MC Bancshares and DMMS, aimed at creating a robust regional banking franchise.

Despite the positive momentum, the merger still awaits customary regulatory approvals. As M C Bank continues to work through the necessary legalities, it anticipates closing the transaction during the second quarter of 2026. The meeting took place at the New Orleans offices of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, the legal firm representing MC Bancshares.

Overview of MC Bancshares and M C Bank

Established in 1955 in Morgan City, Louisiana, M C Bank & Trust Company operates under the umbrella of MC Bancshares, which became a one-bank holding company in 1991. The organization prides itself on its deep commitment to local communities, offering personalized banking solutions guided by a human-centered philosophy. Currently, M C Bank runs 10 banking centers across southeast Louisiana, embodying the hometown spirit in its operations.

The upcoming merger with DMMS Purchaser, Inc. symbolizes a significant leap towards scaling operations and extending service offerings. DMMS, a newly formed acquisition vehicle, aims to leverage the acquisition of M C Bank to create a prestigious banking brand under the leadership of established banking executive Daryl Byrd, former CEO of IBERIABANK Corp.

Path Forward

As MC Bancshares moves forward with this merger, the focus will be on sustainable growth, community engagement, and adherence to the values that have defined M C Bank since its inception. This strategic merger not only represents a pivotal moment for the organization but also illustrates a broader commitment to delivering enhanced banking services to meet the evolving needs of its customers and stakeholders. The journey into this new chapter is set to elevate MC Bancshares to new heights, positioning it strongly within the regional banking landscape.