KEY TAKEAWAYS: MC Bancshares agrees to merge with DMMS Purchaser Inc., led by former IberiaBank CEO Daryl Byrd Deal expected to close in first half of 2026, pending regulatory and shareholder approval M C Bank will retain its name, employees and all branch locations Merger aims to strengthen c apital and support long-term regional growth in southeast Louisiana MC Bancshares, the holding company for M C Bank Trust Company, has agreed to merge with DMMS Purchaser Inc., an investor group led by former IberiaBank CEO Daryl Byrd, positioning the Morgan City-based bank for regional growth while retaining its existing brand, workforce and branch network. Financial terms were not disclosed in the news release. The transaction is expected to close in the first half of 2026, pending regulatory and shareholder approvals. Under the deal, Byrd will become CEO and chairman of the bank’s holding company following the merger. M C Bank will continue operating under its current name and will keep all associates and banking centers open, according to the company. M C Bank, founded in 1955, operates 10 locations across southeast Louisiana and has three additional banking centers in the planning stages, including a second Covington location and new branches in Uptown New Orleans and Houma. The bank provides personal and commercial banking services, including treasury management and business growth solutions. Company leaders said the merger is intended to strengthen M C Bank’s capital position and support long-term expansion while maintaining its relationship-focused approach to banking. “The combination of our associates and the DMMS team creates a powerful alignment of talent, experience and vision that will propel the bank forward,” said Chris LeBato, current CEO of M C Bank, who joined the bank in 2021 after a decade with IberiaBank. Kenny Nelkin, chairman of the board for M C Bank, said the partnership is expected to benefit shareholders, clients, employees and the communities the bank serves. As part of the leadership transition, LeBato will serve as vice chairman and chief of staff and will remain on the executive committee. Existing MC Bancshares board members will continue to serve on the bank’s board after the merger. Several former IberiaBank executives are also slated to join the management team. Mark Tipton will serve as president, Michael Brown as chief operating officer and Scott Price as chief financial officer. Other former IberiaBank leaders expected to join the organization include Jack Deano, Ben Dupuy, Cleland Powell, Rob Worley and Tommy Westervelt. DMMS is making what the company described as a substantial equity investment in M C Bank alongside existing shareholders. The investment is intended to support capital growth and future expansion opportunities. DMMS is being advised by Keefe, Bruyette Woods and Performance Trust Capital Partners on an equity capital raise of up to $250 million. Byrd, who led IberiaBank through a period of significant expansion, said the partnership creates a foundation for sustained growth. “We view this proposed partnership as an important opportunity to establish a strong platform for our long-term strategic growth,” Byrd said. “M C Bank has a distinguished history of serving its communities and clients with integrity and consistency.” During Byrd’s tenure at IberiaBank from 2000 to 2016, the company delivered a total shareholder return of 1,051%, placing it among the top quartile of banking performers during that period, according to the announcement. The transaction underscores continued consolidation and capital investment in the regional banking sector, particularly among community banks seeking scale, leadership depth and resources to compete while maintaining local market relationships. ...read more read less