Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee




Posted October 29, 2020

PASCAGOULA, Miss.--(BUSINESS WIRE)--Merchants & Marine Bank (“M&M Bank”) a wholly owned subsidiary of Merchants & Marine Bancorp, Inc. (OTC QX: “MNMB") today announced that the Bank has completed the acquisition of the West Mobile branch from Arkansas-based Bank OZK. The acquisition, which was announced in July, marks M&M Bank’s first branch in Mobile, located at 6161 Airport Boulevard.

“We are very excited about expanding into the Mobile market and look forward to serving our new customers and the community,” said Clayton Legear, M&M Bank President and CEO. “Our team, which includes both new and familiar faces, is eager to provide a unique banking experience. We offer digital banking conveniences that customers want and need right now, but we also place a strong emphasis on building relationships because we believe customers also want and need a personal connection to their bank.”

Some of those familiar faces include long-time local bankers Beverly Baxter and Parris Tatum. Baxter, who joins M&M Bank from Bank OZK, has more than 17 years of banking experience in Mobile, which she will bring to her role as a commercial lender. Tatum joins M&M Bank with 18 years of business and commercial banking experience in the area. In addition to the commercial team of Baxter and Tatum, four retail bankers will serve customers at the West Mobile branch.

M&M Bank, with 14 full-service locations across the Mississippi and Alabama Gulf Coast region, is expanding its footprint in the region, including a second full-service Mobile location scheduled to open next year in the city’s downtown business district. Renovations are underway in the building located at 3-5 North Royal Street, where the historic Royal Street Barber shop will also remain open for business. The bank recently opened a loan and deposit production office in Hattiesburg.

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