Welcome to our dedicated page for Merchants Marine news (Ticker: MNMB), a resource for investors and traders seeking the latest updates and insights on Merchants Marine stock.
Merchants & Marine Bancorp, Inc. (OTCQX: MNMB) generates a steady flow of news as a community banking organization and parent of Merchants & Marine Bank, a Mississippi‑chartered community bank serving the Gulf South. Its news releases cover financial performance, strategic initiatives, capital actions, brand development, and leadership changes across its family of community banking brands.
Investors and observers following MNMB news will find detailed quarterly financial updates that discuss net income, loan and deposit growth, balance sheet strategies, credit quality metrics, and securities portfolio performance. These updates often explain how acquisitions, such as the purchase of Mississippi River Bank, and balance sheet strategies involving Ginnie Mae guaranteed HECM mortgage‑backed securities and Federal Home Loan Bank funding affect earnings, liquidity, and capital.
Company news also highlights strategic expansion and brand activity. Examples include the launch and growth of CannaFirst Financial, a division focused on medical cannabis banking, its entry into markets such as Alabama, and progress at non‑bank brands like Voyager Lending and Canvas Mortgage. Announcements may describe new leadership appointments, such as board leadership changes or senior hires at key brands, reflecting the company’s emphasis on governance and market development.
Merchants & Marine Bancorp, Inc. also issues news on corporate transactions, including the definitive agreement for Farmers‑Merchants Bank & Trust Company to merge with Merchants & Marine Bank in an all‑cash transaction. Such releases outline expected branding, regulatory approvals, and strategic rationale for expanding the family of brands and asset base. For anyone tracking MNMB, this news stream provides insight into how the company manages growth, community banking operations, specialized financial services, and its role as a Community Development Financial Institution in its regional markets.
Merchants & Marine Bancorp (OTCQX: MNMB) reported Q4 2025 net income of $973k ($0.72/share) versus $2.262M ($1.70/share) year-ago. Full-year highlights include gross income $14.39M Q4, assets $941.19M (up 31.29%), net loans $445.54M (down 4.05%), and deposits $598.28M (up 4.32%).
Management cited a temporary $200M HECM match-funding strategy and announced a pending merger with Farmers-Merchants Bank, expected to close in early Q2 2026.
Merchants & Marine Bancorp (OTCQX: MNMB) reported third-quarter 2025 results with net income of $1.42M ($1.07/share) versus $1.93M ($1.45/share) a year earlier and gross income of $14.88M, up 14.17% year-over-year. Total assets rose 30.55% to $947.47M at Sept. 30, 2025. Management executed a $200M matched funding strategy using floating-rate Ginnie Mae HECM securities funded by FHLB advances, producing roughly an 80 bp spread. Credit metrics: non-accrual loans increased to 1.59% and AOCI mark-to-market losses were ($7.77M) at quarter end.
Merchants & Marine Bancorp (NASDAQ:MNMB) and Farmers-Merchants Bank & Trust announced a definitive merger agreement under which FM Bank will merge into Merchants & Marine Bank in an all-cash transaction.
The boards unanimously approved the deal, which is expected to close in Q2 2026, subject to customary closing conditions, required regulatory approvals, and FM Bank shareholder approval. FM Bank will operate as a division under its existing brand and Fred Mills will remain as President and CEO.
Advisors: Janney Montgomery Scott provided a fairness opinion to MNMB; Phelps Dunbar advised MNMB; National Capital advised FM Bank; Fenimore Kay Harrison advised FM Bank.
Merchants & Marine Bancorp (OTCQX: MNMB) announced significant board leadership changes following its 2025 Annual Shareholder Meeting. Clayton Legear, who has served as President & CEO since 2019, has been elected as Chairman of the Board for both the Company and the Bank, succeeding Royce Cumbest. Cumbest, who led the bank as President & CEO from 1985 to 2019 and as Chairman from 1991 to 2025, is retiring after 40 years of service.
Additionally, Diann Payne, a director since 2009, has been elected as Vice Chairman & Lead Independent Director. Payne, who chairs the Board's Governance, Succession, and Compensation Committee, brings extensive experience from her roles as Executive Director of Community Action of South Mississippi and previous positions at the FDIC.
CannaFirst Financial, a leading cannabis banking solutions provider, has appointed Nicole Perry as Director of National Sales. Perry brings over 20 years of financial services experience and multiple industry certifications including CCBP, CBPA, CTM, and PBC-1.
In her new role, Perry will lead national sales and marketing initiatives, oversee strategic business development, manage social media and trade show engagement, and enhance cannabis-focused financial services. She previously served as Cannabis Banking Program Manager at Credit Union 1 and held leadership positions at The Dart Bank and Fifth Third Bank.
Perry holds a Master's in Human Resources Management from Central Michigan University and a Bachelor's in Business Administration from Davenport University. The appointment aims to strengthen CannaFirst Financial's position in states with established cannabis programs.
Merchants & Marine Bancorp (OTCQX: MNMB) reported net income of $5.94 million ($4.46 per share) in 2024, compared to $6.29 million ($4.73 per share) in 2023. Net income available to common shareholders was $4.06 per share after preferred dividends.
Key financial highlights include:
- Gross income increased 18.17% to $50.55 million
- Balance sheet grew 4.37% to $716.86 million
- Net loans increased 11.09% to $464.36 million
- Total deposits rose 15.14% to $573.53 million
The company completed the acquisition of Mississippi River Bank in April 2024 and repaid the $50 million Federal Reserve Bank Term Funding facility in late 2024. Fourth-quarter net income was $2.26 million before preferred dividends, yielding an annualized return on assets of 1.26%.
Merchants & Marine Bancorp (OTCQX: MNMB) reported Q3 2024 net income of $3.40 million ($2.55 per share), down from $5.17 million ($3.88 per share) in the same period last year. The company saw significant growth with gross income up 24.17% to $37.56 million, balance sheet footings increased 12.24% to $725.73 million, and net loans grew 9.23% to $449.34 million. Total deposits rose 13.25% to $582.31 million. The acquisition of Mississippi River Bank in April 2024 drove balance sheet growth and one-time non-interest expenses. The company maintains strong liquidity with $43.97 million in cash equivalents and over $250 million in additional borrowing capacity.
Merchants & Marine Bancorp, Inc. (OTCQX: MNMB) has announced Paige Oliver as the new Brand President & Chief Executive Officer of Merchants & Marine Bank. Oliver, with 9 years of experience as President & CEO of Bank of Oak Ridge in Louisiana, brings extensive leadership and community banking expertise to her new role.
Oliver will work under the direction of Clayton Legear, President & CEO of Merchants & Marine Bancorp, Inc., and will join a seasoned team of community bankers. Her appointment is expected to drive strategic initiatives, enhance financial solutions, and support the growth of Merchants & Marine Bank and the entire Merchants & Marine Bancorp, Inc. Family of Brands.
Merchants & Marine Bancorp, Inc. (OTCQX: MNMB) reported net income of $1.72 million ($1.29 per share) for Q2 2024, compared to $1.87 million ($1.41 per share) in Q2 2023. Gross income increased by 33.43% to $24.53 million. Balance sheet footings grew 18.25% to $777.40 million. Net loans increased 6.83% to $442.17 million, while total deposits rose 11.61% to $588.44 million. The acquisition of Mississippi River Bank, completed on April 10, 2024, drove balance sheet growth and one-time non-interest expenses. Total interest income grew 28.15% to $19.06 million, primarily due to increased interest income on loans. Credit quality remained strong, with past due and non-accrual loan ratios improving. The company maintains a healthy liquidity position with $93.51 million in cash and cash equivalents.