Merchants & Marine Bancorp to Acquire Farmers-Merchants Bank & Trust Company
Merchants & Marine Bancorp, Inc., parent company of Merchants & Marine Bank, has agreed to acquire Farmers-Merchants Bank & Trust Company (FM Bank) in an all-cash transaction. Upon completion, FM Bank will merge into Merchants & Marine Bank, expanding MNMB’s community banking presence across the Gulf South region.
FM Bank, founded in 1932, serves the Acadiana region of Louisiana with a focus on community banking. Following the merger, FM Bank will continue operating under its existing brand as a division of Merchants & Marine Bank. Fred Mills, FM Bank’s current President and CEO, will remain in his leadership role.
Merchants & Marine Bancorp, headquartered in Mississippi, operates with a mission consistent with Community Development Financial Institutions (CDFIs), emphasizing economic empowerment and local investment. The acquisition aligns with MNMB’s strategy to broaden its regional footprint.
Janney Montgomery Scott provided a fairness opinion to MNMB in connection with this transaction, and Phelps Dunbar, LLP served as MNMB’s legal adviser. National Capital, LLC served as financial advisor to FM Bank, and Fenimore Kay Harrison LLP served as FM Bank’s legal advisor.
