PASCAGOULA, Miss.--(BUSINESS WIRE)--
Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), (the “Company”), the parent company of Merchants & Marine Bank (the “Bank”), today announced the completion of its previously announced acquisition by merger of Farmers-Merchants Bank & Trust Company (“FM Bank”), Breaux Bridge, Louisiana, in which FM Bank was merged into the Bank in an all cash transaction. The acquisition, which was effective as of 12:01 AM Central Standard Daylight Time on April 1, 2026, expands the Company’s banking operations into the dynamic Acadiana Region of Louisiana.
As a member of the Company’s Family of Community Banking Brands, FM Bank will continue to serve clients under its existing branding as “FM Bank, a Division of Merchants & Marine Bank.” Longtime FM Bank leader Fred Mills has joined the Company as FM Bank Divisional President & Chief Executive Officer. In this role, Mills will continue to guide the formation and execution of FM Bank’s strategy, growth, and service delivery throughout Acadiana.
This acquisition results in consolidated Company assets of approximately $1.3 billion, gross loans of approximately $691 million, and deposits of approximately $951 million (unaudited totals excluding merger-related adjustments). The acquisition expands the Company’s Family of Community Banking Brands to include seven unique community banking brands operating in diversified niches throughout the Southeast.
Janney Montgomery Scott provided a fairness opinion to the Company in connection with this transaction, and Phelps Dunbar served as the Company’s legal advisor. National Capital, LLC, served as financial advisor to FM Bank, and Fenimore Kay Harrison LLP served as FM Bank’s legal advisor.
About Merchants & Marine Bancorp, Inc.
Merchants & Marine Bancorp, Inc. (OTCQX: MNMB) is the parent company of Merchants & Marine Bank, a Mississippi chartered community bank serving the Gulf South region. Originally founded in 1899, Merchants & Marine Bank was reborn in 1932 during the middle of the worst economic disaster in the history of the United States: The Great Depression. More than eight decades later, Merchants & Marine Bank has grown from $25,000 to more than $1 billion in assets. The Bank offers banking services to customers in Southern Mississippi and Coastal Alabama under its legacy Merchants & Marine Bank brand, in Southern Louisiana through its Mississippi River Bank brand, and in the Acadiana Region of Louisiana through its FM Bank brand. It offers mortgage financing through its Canvas Mortgage brand, medical cannabis banking through its CannaFirst Financial brand, and access to government-guaranteed credit through its Voyager Lending brand. It provides bank operational, risk, finance, and support services through its Community of Resources bank services brand. For more information on Merchants & Marine Bancorp, Inc., visit https://mandmbank.com/investor-relations.
