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Morgan City Today
By the People, for the People
MC Bancshares Shareholders Approve Proposed Merger
Shareholders demonstrate strong support for the strategic combination with DMMS Purchaser, Inc.
Mar. 17, 2026 at 3:20am
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MC Bancshares, Inc., the holding company for M C Bank & Trust Company, announced that its shareholders have approved the proposed merger with DMMS Purchaser, Inc. at a special shareholder meeting. The merger 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.
Why it matters
The strong shareholder support for the merger reflects confidence in the strategic direction of M C Bank and the opportunities the combination with DMMS Purchaser, Inc. presents. The merger positions the organization for continued growth while maintaining its commitment to relationship-driven community banking.
The details
At the special shareholder meeting, 93% of shareholders participated in the vote, with 92.19% voting in favor of the merger. The DMMS capital raise process to complete the merger has also been 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 on March 13, 2026.
- The merger is expected to close during the second quarter of 2026.
The players
MC Bancshares, Inc.
The holding company for M C Bank & Trust Company, a Louisiana-chartered state bank that first opened its doors in 1955 in Morgan City, Louisiana.
DMMS Purchaser, Inc.
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.
Christopher LeBato
President & Chief Executive Officer of M C Bank.
Kenny Nelkin
Chairman of the Board of M C Bank.
What they’re saying
“This vote reflects the confidence our shareholders have in the future of our organization and the opportunities ahead.”
— Christopher LeBato, President & Chief Executive Officer of M C Bank
“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.”
— Kenny Nelkin, Chairman of the Board of M C Bank
What’s next
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 takeaway
The shareholder approval of the merger with DMMS Purchaser, Inc. demonstrates the confidence in M C Bank's strategic direction and the opportunities the combination presents. The merger positions the organization for continued growth while maintaining its commitment to relationship-driven community banking.
