Banking Titan Daryl Byrd to Lead M C Bank in Major Louisiana Merger

MORGAN CITY, LA – December 17, 2025 – A significant shift is underway in Louisiana's banking sector as MC Bancshares, the parent company of M C Bank & Trust Company, has announced a definitive merger agreement with DMMS Purchaser, Inc. The deal brings legendary Louisiana banker Daryl Byrd, the former CEO of IBERIABANK, back into the executive suite, poised to transform a 70-year-old community institution into a formidable regional player.

DMMS, an investor group led by Byrd, is set to inject up to $250 million in new capital into the bank. This move signals a bold growth strategy, backed by a leadership team renowned for its dramatic success in the financial industry. The transaction, which is subject to shareholder and regulatory approval expected in the first half of 2026, will retain the M C Bank name and all of its current employees and branches.

The Return of a Proven Growth Architect

The centerpiece of the merger is unquestionably the return of Daryl Byrd and a cadre of his former top executives from IBERIABANK. Byrd, who will assume the roles of chief executive officer and chairman of the holding company, has a storied history of creating shareholder value. During his tenure at IBERIABANK from 2000 to 2016, the company reportedly delivered a staggering 1,051% total return to shareholders, placing it in the top quartile of its peers.

"We view this proposed partnership as an important opportunity to establish a strong platform for our long-term strategic growth," Byrd said in a statement. He praised M C Bank's history of serving its communities with integrity and consistency. "Its leadership has built an exceptional team, and we look forward to working alongside them and supporting their continued success for decades to come."

Joining Byrd is a powerhouse team of IBERIABANK alumni, including Mark Tipton as president, Michael Brown as chief operating officer, and Scott Price as chief financial officer. This reunion of a proven executive team is designed to replicate their past successes on a new platform. Chris LeBato, who joined M C Bank as CEO in 2021 after a decade at IBERIABANK, will transition to vice chairman and chief of staff, ensuring continuity and a blend of institutional knowledge with the new strategic vision.

"The combination of our associates and the DMMS team creates a powerful alignment of talent, experience and vision that will propel the bank forward in ways only true collaboration can," said LeBato.

A New Era for M C Bank

Founded in 1955, M C Bank has built a solid foundation as a community-focused institution. With ten locations across Southeast Louisiana, the bank currently holds approximately $479 million in total assets and $387 million in deposits. Financial analysis shows the bank boasts an "Excellent" rating for its capital position and overall stability. However, its profitability has been rated as "Fair," with a return on assets below 1%. This merger is precisely the catalyst intended to ignite that next phase of growth.

The infusion of up to $250 million in capital is a transformative event for a bank of M C Bank's size. This substantial investment will not only bolster its balance sheet but also provide the fuel for aggressive expansion. The bank already has three new banking centers in the final planning stages—a second location in Covington and new branches in Uptown New Orleans and West Main in Houma. The new capital will accelerate these plans and likely fund further technological upgrades and market penetration efforts.

Kenny Nelkin, M C Bank's chairman of the board, expressed confidence in the partnership's potential. "We know this partnership is poised to be great for our shareholders, clients, communities and associates," he commented, highlighting the broad-based benefits envisioned from the deal. Crucially for local communities, the bank has committed that no banking centers will close and all associates will be retained as a result of the transaction.

Navigating a Favorable Regulatory Climate

While any bank merger faces a rigorous approval process, the timing for this transaction appears advantageous. The deal requires clearance from federal bodies like the Federal Reserve and the FDIC, as well as the Louisiana Office of Financial Institutions. In a significant policy reversal in May 2025, both the FDIC and the Office of the Comptroller of the Currency (OCC) rescinded stricter 2024 guidelines, reverting to a more predictable and streamlined review process. This shift has reportedly shrunk the average approval time for bank mergers to just four months in 2025, the shortest since 1990.

This favorable regulatory environment could smooth the path for a deal of this magnitude. The strong capital position of the post-merger bank and the sterling reputation of its incoming leadership team are factors that regulators typically view positively. The deal's prospects are also likely strengthened by its clear strategic rationale, a stark contrast to a previously proposed merger between M C Bank and Heritage Nola Bancorp that was mutually terminated. The current agreement, backed by a massive capital commitment and a clear growth plan, presents a much more compelling case for approval.

Reshaping Louisiana's Competitive Banking Scene

The Byrd-led M C Bank is set to enter a Louisiana banking market that is already in a state of dynamic consolidation. The state's commercial banking industry, valued at $10.2 billion, has seen a flurry of recent M&A activity, including deals involving Business First Bancshares and OnPath Federal Credit Union. This trend has been characterized by a shrinking number of institutions even as the overall market size grows.

Armed with new leadership and a war chest for expansion, the revitalized M C Bank will be positioned to challenge not only other community and regional banks but also larger, more established players like Capital One and Hancock Whitney in key Louisiana markets. The bank's stated intent is to deliver a "first-class experience" to clients, leveraging a relationship-focused approach while scaling up its operations.

For businesses and consumers in Southeast Louisiana, the emergence of a stronger, more competitive M C Bank could lead to better loan products, enhanced digital services, and increased competition that benefits all customers. The merger represents a strategic play to build a new regional banking powerhouse from the ground up, combining a respected local institution with a leadership team that has already reached the summit of the industry.