Pascagoula, Miss.-based Merchants & Marine Bancorp is acquiring Breaux Bridge, La.-based FM Bank..Expected to close in the second quarter of 2026, the all-cash merger expands Merchants & Marine Bancorp’s footprint in Louisiana’s Cajun Country region. Merchants & Marine Bancorp is the parent company of the nearly $950 million Merchants & Marine Bank.Merchants & Marine Bank operates in the Gulf South through several community banking and speciality divisions including Mississippi River Bank, which it acquired in 2024; mortgage lender Canvas Mortgage; CannaFirst Financial, which serves the cannabis industry; and small business lending firm Voyager Lending. Under the deal, the $450 million FM Bank will retain its name and operate as a division of Merchants & Marine Bank. FM Bank president and CEO Fred Mills is expected to keep his leadership position.Both banks are Community Development Financial Institutions. “FM Bank has developed a reputation for personalized service and tailored financial solutions throughout Acadiana,” said Merchants & Marine Bancorp Chair and CEO Clayton Legear. “This partnership aligns perfectly with our shared mission.”New York City-based Janney Montgomery Scott provided a fairness opinion to Merchants & Marine Bancorp, with legal counsel from New Orleans-based law firm Phelps Dunbar LLP. Baton Rouge, La.-based National Capital LLC was financial adviser to FM Bank, while Austin-based Fenimore Kay Harrison LLP was legal counsel.
