MC Bancshares Shareholders Vote in Favor of Merger
MC Bancshares, Inc., the holding company for M C Bank & Trust Company, announced on March 16, 2026, that its shareholders approved the proposed merger with DMMS Purchaser, Inc. at a special shareholder meeting held on March 13, 2026, according to PR Newswire. At the meeting, 93% of shareholders participated, and 92.19% voted in favor of the merger.
Details of the Shareholder Engagement
Shareholders showed strong participation in the vote, which took place at the New Orleans office of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. Christopher LeBato, President and Chief Executive Officer of M C Bank, stated that the vote reflects shareholder confidence in the organization’s future. Kenny Nelkin, Chairman of the Board of M C Bank, described the support as an encouraging milestone in the process, highlighting the strategic direction of the company.
Merger Benefits and Capital Raise
The merger with DMMS is expected to strengthen M C Bank’s long-term growth strategy by expanding capabilities and enhancing resources for clients, while continuing investments in associates and communities. Additionally, the DMMS capital raise process has secured nearly $200 million in investor commitments from more than 400 friends-and-family investors, positioning the organization for growth in community banking. The merger remains subject to regulatory approvals and is targeted to close in the second quarter of 2026, as reported by PR Newswire.
Background on the Involved Companies
M C Bank & Trust Company, a Louisiana-chartered state bank, was established in 1955 in Morgan City, Louisiana, and operates 10 banking centers across Southeast Louisiana. MC Bancshares was formed in 1991 as a one-bank holding company. DMMS Purchaser, Inc., a newly formed subsidiary of DMMS Holdings LLC, is led by Daryl Byrd, former CEO of IBERIABANK Corp., and focuses on building a regional banking franchise.
