The national law firm Baker Donelson served as legal counsel to MC Bancshares, the holding company for MC Bank & Trust Company, in the company's deal to merge with DMMS Purchaser, Inc., a group of investors and experienced banking executives led by Daryl Byrd, former CEO of IBERIABANK Corp. The merger officially closed on May 1.
The combination establishes MC Bank as a stronger, more competitive financial institution well-positioned to serve customers, communities, and shareholders across its markets. The markets MC Bank has served include Morgan City, New Orleans, Houma, Lafayette, and the Northshore. Immediately upon the merger, the bank intends to expand its markets to include Atlanta and Baton Rouge.
Per the private agreement, DMMS made a substantial investment into MC Bank alongside legacy holding company investors. The infusion was among the largest friends and family capital raises in banking history.
Baker Donelson's work on the transaction included providing counsel on the merger agreement, due diligence, offering documents, and the closing, as well as assisting in the regulatory approval process with the Federal Reserve.
The Baker Donelson team advising on the transaction was led by shareholders Edward H. "Hank" Arnold III (New Orleans), D. Taylor Tipton (Knoxville), and Patrick H. Willis (New Orleans), with assistance from associates William S. Oliver (The Connective – Virtual Office) and Savannah Hall (Knoxville). The full team encompassed attorneys from multiple practice areas and across the Firm's footprint, including shareholders Nicholas W. Diegel (Knoxville), Charles W. "Chuck" Goldberg Jr. (Nashville), Elizabeth Haskins (The Connective – Virtual Office), and Steven K. Wood (Nashville); and of counsel Emily R. Billig (Baltimore) and William E. Robinson (Chattanooga).
To read MC Bank's press release on the merger, click here.