MC Bancshares, the holding firm for M C Financial institution & Belief Firm, has agreed to merge with DMMS Purchaser Inc., an investor group led by former IberiaBank CEO Daryl Byrd, positioning the Morgan Metropolis-based financial institution for regional progress whereas retaining its current model, workforce and department community.

Monetary phrases weren’t disclosed within the information launch. The transaction is predicted to shut within the first half of 2026, pending regulatory and shareholder approvals.

Beneath the deal, Byrd will develop into CEO and chairman of the financial institution’s holding firm following the merger. M C Financial institution will proceed working below its present title and can hold all associates and banking facilities open, in response to the corporate.

M C Financial institution, based in 1955, operates 10 areas throughout southeast Louisiana and has three extra banking facilities within the planning levels, together with a second Covington location and new branches in Uptown New Orleans and Houma. The financial institution offers private and industrial banking companies, together with treasury administration and enterprise progress options.

Firm leaders mentioned the merger is meant to strengthen M C Financial institution’s capital place and assist long-term growth whereas sustaining its relationship-focused strategy to banking.

“The mixture of our associates and the DMMS group creates a strong alignment of expertise, expertise and imaginative and prescient that can propel the financial institution ahead,” mentioned Chris LeBato, present CEO of M C Financial institution, who joined the financial institution in 2021 after a decade with IberiaBank.

Kenny Nelkin, chairman of the board for M C Financial institution, mentioned the partnership is predicted to learn shareholders, shoppers, workers and the communities the financial institution serves.

As a part of the management transition, LeBato will function vice chairman and chief of workers and can stay on the manager committee. Current MC Bancshares board members will proceed to serve on the financial institution’s board after the merger.

A number of former IberiaBank executives are additionally slated to hitch the administration group. Mark Tipton will function president, Michael Brown as chief working officer and Scott Value as chief monetary officer. Different former IberiaBank leaders anticipated to hitch the group embrace Jack Deano, Ben Dupuy, Cleland Powell, Rob Worley and Tommy Westervelt.

DMMS is making what the corporate described as a considerable fairness funding in M C Financial institution alongside current shareholders. The funding is meant to assist capital progress and future growth alternatives. DMMS is being suggested by Keefe, Bruyette & Woods and Efficiency Belief Capital Companions on an fairness capital elevate of as much as $250 million.

Byrd, who led IberiaBank by a interval of great growth, mentioned the partnership creates a basis for sustained progress.

“We view this proposed partnership as an vital alternative to ascertain a robust platform for our long-term strategic progress,” Byrd mentioned. “M C Financial institution has a distinguished historical past of serving its communities and shoppers with integrity and consistency.”

Throughout Byrd’s tenure at IberiaBank from 2000 to 2016, the corporate delivered a complete shareholder return of 1,051%, putting it among the many high quartile of banking performers throughout that interval, in response to the announcement.

The transaction underscores continued consolidation and capital funding within the regional banking sector, notably amongst group banks looking for scale, management depth and assets to compete whereas sustaining native market relationships.