MORGAN CITY, La., March 16, 2026 /PRNewswire/ -- MC Bancshares, Inc., the holding company for M C Bank & Trust Company (collectively, "M C Bank"), announced today that its shareholders have approved the proposed merger with DMMS Purchaser, Inc. ("DMMS") at a special shareholder meeting held on March 13, 2026.
Shareholders demonstrated strong engagement in the process, with 93% of shareholders participating in the vote and 92.19% voting in favor of the merger.
"This vote reflects the confidence our shareholders have in the future of our organization and the opportunities ahead," said Christopher LeBato, President & Chief Executive Officer of M C Bank. "We are grateful for the thoughtful review our shareholders gave to the materials and for their continued support as we move forward with this next chapter."
The proposed merger with DMMS is expected to strengthen M C Bank's long-term growth strategy by expanding capabilities, enhancing resources available to clients, and continuing to invest in its associates and communities. The combination positions the organization for continued growth while maintaining its commitment to relationship-driven community banking.
Kenny Nelkin, Chairman of the Board of M C Bank, added, "The strong participation and support from our shareholders is an encouraging milestone in this process. On behalf of the Board of Directors, I want to thank our shareholders for their engagement and confidence in the strategic direction of our company."
Additionally, the DMMS capital raise process to complete the merger with M C Bank has been very successful, earning nearly $200 million in investor commitments from more than 400 friends-and-family investors.
The merger remains subject to customary regulatory approvals, and M C Bank continues to target closing the transaction during the second quarter of 2026. The special shareholder meeting was held at the New Orleans office of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC, the law firm representing M C Bank.
About M C Bank
MC Bancshares, Inc. is the holding company for M C Bank & Trust Company, a Louisiana-chartered state bank. M C Bank first opened its doors in 1955 in Morgan City, Louisiana. On April 1, 1991, MC Bancshares was formed as a one-bank holding company, with its sole subsidiary being Morgan City Bank & Trust Company. Simultaneous with the merger of the bank into the holding company, the bank's name changed to M C Bank & Trust Company. The bank's headquarters are in Morgan City, and it operates 10 banking centers and offices across Southeast Louisiana. Guided by its commitment to the hometown spirit, M C Bank's mission is to offer a human-centered approach to banking solutions and strengthen the communities they serve. Member FDIC. Equal Housing Lender. To learn more, visit www.mcbt.com.
About DMMS
DMMS Purchaser, Inc. is a newly formed acquisition vehicle and a wholly-owned subsidiary of DMMS Holdings LLC which is led by Daryl Byrd, former CEO of IBERIABANK Corp., together with a senior team of banking executives focused on transition planning and building a premier regional banking franchise subject to completion of the Transaction and applicable approvals.
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SOURCE MC Bancshares
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March 16, 2026 18:59 ET (22:59 GMT)