MC Bancshares to Merge with DMMS Purchaser, Inc.

Former CEO of IBERIABANK, Daryl Byrd, to serve as CEO

MORGAN CITY, La., Dec. 17, 2025 /PRNewswire/ -- MC Bancshares ("MCBI"), the holding company for M C Bank & Trust Company (collectively, "M C Bank"), announced today the company has agreed to a merger with DMMS Purchaser, Inc. ("DMMS"), an investor group led by Daryl Byrd, former CEO of IBERIABANK Corp.

This transaction will be a partnership grounded in exemplary customer service and a collaborative, team-focused culture, with expectations of transforming into a meaningful regional banking franchise.

M C Bank first opened its doors in 1955 in Morgan City, Louisiana, and currently operates 10 locations across Southeast Louisiana – with three new banking centers in the final planning phase, including a second location in Covington and new banking centers in Uptown New Orleans and on West Main in Houma. The bank has become a trusted partner for individuals and businesses alike, offering a full range of personal and commercial banking services, including treasury management and growth solutions. Upon closing, the combined company will build on this history by continuing to operate as M C Bank.

"The combination of our associates and the DMMS team creates a powerful alignment of talent, experience and vision that will propel the bank forward in ways only true collaboration can," said Chris LeBato. LeBato joined M C Bank in the summer of 2021 as chief executive officer and was previously with IBERIABANK for 10 years.

"We are looking forward to welcoming the DMMS team to M C Bank once regulatory and shareholder approvals are met," commented Kenny Nelkin, chairman of the board for M C Bank. "We know this partnership is poised to be great for our shareholders, clients, communities and associates."

All M C Bank associates will be retained, and no banking centers will close as a result of this transaction. This agreement is subject to regulatory and shareholder approval, which is anticipated to take place within the first half of 2026.

"We view this proposed partnership as an important opportunity to establish a strong platform for our long-term strategic growth. M C Bank has a distinguished history of serving its communities and clients with integrity and consistency," said Byrd. "Its leadership has built an exceptional team, and we look forward to working alongside them and supporting their continued success for decades to come."

With the merger, Byrd will serve as chief executive officer and chairman of the bank's holding company. The MCBI board members will remain on the bank's board of directors following the merger, and Chris LeBato will serve on the executive committee as vice chairman and chief of staff. Additional former IBERIABANK executives will join the M C Bank team, including Mark Tipton, who will serve as the president, Michael Brown, serving as chief operating officer, and Scott Price, who will be the chief financial officer. Other IBERIABANK leaders expected to join the DMMS team include Jack Deano, Ben Dupuy, Cleland Powell, Rob Worley and Tommy Westervelt.

Per the private agreement, DMMS is making a substantial investment into M C Bank alongside legacy holding company investors. The infusion will bolster the bank's capital and ignite significant growth opportunities, while continuing a disciplined, relationship-focused approach to banking.

The intent is to deliver a first-class experience to all key constituents, including clients, current and future associates, and shareholders. Under Byrd's prior leadership, IBERIABANK's total return to shareholders between 2000 and 2016 was 1,051%, which ranked among the top quartile of performers during that period. Byrd and his team bring a proven history and sense of confidence in creating future positive returns at M C Bank.

Keefe, Bruyette & Woods, a Stifel Company ("KBW"), and Performance Trust Capital Partners, LLC ("PT") are serving as co-advisors to DMMS in an equity capital offering of up to $250 million. KBW is serving as financial advisor and Troutman Pepper Locke LLP as legal advisor to DMMS in the merger transaction. Sterlington PLLC and Jones Walker LLP are also serving as legal advisors to DMMS. PT is serving as financial advisor and Baker Donelson as legal advisor to M C Bank in the merger transaction. A fairness opinion was provided to M C Bank by National Capital, LLC.

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 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.

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SOURCE MC Bancshares