Closing of Merger of DMMS Purchaser, Inc. and MC Bancshares Anticipated for May 1

NEW ORLEANS and ATLANTA, April 16, 2026 /PRNewswire/ -- DMMS Purchaser, Inc. and MC Bancshares, Inc., the holding company for M C Bank & Trust Company (the "Companies"), jointly announced today the Board of Governors of the Federal Reserve System has granted regulatory approval of the proposed merger between the two companies. This approval represents an important milestone in the transaction, and the Companies confirm that all conditions necessary for closing, including a significant capital raise, have been satisfied.

The Companies currently expect the merger to occur on or about May 1, 2026. The Federal Reserve's approval follows receipt of all other required regulatory clearances and represents the final major regulatory hurdle to completion of the transaction.

As previously announced, MC Bancshares has agreed to merge with DMMS Purchaser, Inc., a group of investors and experienced banking executives who see significant opportunity to grow the Southeast Louisiana-based institution. The combination will establish M C Bank as a stronger, more competitive financial institution well-positioned to serve customers, communities, and shareholders across its markets. The markets M C Bank currently serves include Morgan City, New Orleans, Houma, Lafayette, and the Northshore. Immediately upon the merger, the bank's markets will grow to also include Atlanta and Baton Rouge.

"We are extremely pleased to receive the Federal Reserve's approval of this merger," said Daryl Byrd, chief executive officer of DMMS. "This approval reflects the strength and soundness of our proposed organization and the compelling strategic rationale behind our business plan. We are on track to close on or about May 1, and we look forward to bringing our teams together to deliver enhanced value and expanded capabilities for the customers and communities we are privileged to serve."

"This is a momentous day for M C Bank and for our shareholders, associates, and customers," said Kenny Nelkin, chairman of the board of M C Bank. "Receiving the Federal Reserve's approval confirms what we have believed from the beginning -- that this merger is in the best interests of everyone we serve."

"We are confident in the opportunities ahead and remain committed to a seamless transition," said Chris LeBato, chief executive officer of M C Bank. "Together, we are building a stronger, more scalable organization while preserving the relationship-driven culture that defines us."

Additional information regarding the merger will be shared as it becomes available. Shareholders and other interested parties are encouraged to review filings made with applicable regulatory authorities for further details.

This press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval.

About DMMS Purchaser, Inc.

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 Corporation, together with a senior team of banking executives focused on building a premier regional banking franchise grounded in relationship banking, strong leadership, and long-term value creation.

About M C Bank and MC Bancshares, Inc.

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, Inc. was formed as a one-bank holding company. Simultaneously with the formation of 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 ten banking centers and offices across Southeast Louisiana. To learn more, visit www.mcbt.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. The Companies undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.

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SOURCE MC Bancshares

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April 16, 2026 17:19 ET (21:19 GMT)