Investor Group Led by Former IBERIABANK Leaders Daryl Byrd, Mark Tipton, Michael Brown, and Scott Price Announces the Closing of Merger with MC Bancshares, Inc.

Capital raise of over $225 million from over 550 investors demonstrates strong investor confidence in leadership team and bank future

ATLANTA and MORGAN CITY, La. and NEW ORLEANS, May 1, 2026 /PRNewswire/ -- DMMS Purchaser, Inc. ("DMMS"), an investor group led by former IBERIABANK Corp. leaders Daryl Byrd, Mark Tipton, Michael Brown, and Scott Price, today announced it closed on the merger of MC Bancshares, Inc., the holding company for M C Bank & Trust Company ("MCBANK"), with and into DMMS. Upon completion of the merger, DMMS, as the surviving corporation, will change its name to MC Bancshares, Inc. ("MCBI").

The terms of the merger were initially agreed to on December 16, 2025 and finalized on February 5, 2026. On March 19, 2026 and April 15, 2026, the Louisiana Office of Financial Institutions and the Board of Governors of the Federal Reserve System, respectively, granted regulatory approval of the proposed merger between DMMS and MCBI.

DMMS also announced today it secured more than $225 million from more than 550 investors through what is likely one of the largest-ever friends-and-family capital raises for a bank. While DMMS needed only $175 million to fund its plan to grow MCBANK, the success of its capital raise far exceeded expectations and demonstrated strong investor confidence in the track record of the team and its business plan for the future.

"This response has been humbling," said Daryl Byrd, who will serve as chief executive officer and chairman of MCBI following the merger. "The depth and breadth of support we saw in such a short period of time reflects the confidence investors – many of whom are expected to also be future clients – have in our team, our strategy, and the opportunity we see to build a meaningful regional banking franchise."

"We could not be more pleased with the tremendously positive response we saw from investors, particularly those in Georgia and Louisiana," said Mark Tipton, who will serve as president of MCBANK following the merger. "Starting with such strong investor support from the communities we will serve provides a solid capital foundation as we build our brand in strong Southeastern markets."

"This milestone represents the beginning of an exciting new chapter for MCBI and MCBANK," said Kenneth Nelkin, who will continue to serve on the MCBI and MCBANK boards of directors. "MCBANK has built something special over the past 70 years – a bank grounded in relationships and community. We are excited to build on that legacy while investing in the people, technology, and capabilities needed to support continued growth."

"This level of investor support for this group of seasoned banking executives, by local business and community leaders, is a powerful vote of confidence in the strength of regional banking," said Thomas B. Michaud, CEO of Keefe, Bruyette & Woods, a Stifel Company ("KBW"). "We are proud to have played a role in this landmark transaction."

This combination is expected to establish MCBANK as a larger, stronger, more competitive financial institution that is well-positioned to serve customers and communities across its markets. The new capital is expected to significantly strengthen and further MCBANK's already strong balance sheet and support a long-term growth strategy focused on expanding its regional footprint while maintaining the relationship-driven service that has defined MCBANK for decades.

Founded in 1955 in Morgan City, Louisiana, the Louisiana markets MCBANK currently serves include Morgan City, New Orleans, Houma, Lafayette, and the Northshore. Immediately following the merger, MCBANK intends to grow its markets to also include Atlanta, Georgia and Baton Rouge, Louisiana. The bank will continue operating under the MCBANK name.

"Community banking is built on trust and relationships," Byrd said. "The investors participating in this effort know our team, understand our vision, and share our belief that MCBANK represents a compelling platform for long-term growth. We look forward to bringing our teams together to deliver enhanced value and expanded capabilities for the clients and communities we are privileged to serve."

Byrd previously led IBERIABANK through a period of significant expansion, delivering a 982% total return to shareholders between 1999 and 2019, placing IBERIABANK among the top performers in its peer group during that time.

Joining Byrd upon completion of the merger will be Chris LeBato, who has served as CEO of MCBANK since 2021 and will transition to his role on the executive committee as vice chairman, managing director, and chief of staff. Additionally, current MCBANK board members who served on the board prior to the merger will remain on MCBANK's board of directors.

MCBI's board will include experienced directors Angus R. Cooper II, chief executive officer of Cooper/T. Smith Corporation and a former member of the IBERIABANK board; William H. Fenstermaker, chairman and chief executive officer of C. H. Fenstermaker & Associates, Inc. and former chairman of the IBERIABANK board; Michael C. Slocum, former president of commercial banking at Capital One Financial Corporation; Daryl G. Byrd; Mark W. Tipton; Michael J. Brown; and legacy MCBI director, Kenneth I. Nelkin.

Several former IBERIABANK executives who join Byrd in the leadership team will include Mark Tipton as president, Michael Brown as chief operating officer, Scott Price as chief financial officer, Rodney Hall as regional president for Georgia, Karl Hoefer as regional president for Louisiana and Texas, Jack Deano as chief information officer, Mike Pelletier as chief human resources officer, Agustin Ramos as chief credit officer, and Rob Worley as general counsel.

Members of the team joining MCBANK in Georgia will include Elizabeth Bresnahan, Chris Catone, Ansley Cooper, Brittany Everette, Michael Giovino, Seth Gray, Thomas Hamlin, Beth Heavern, Shamus Kenny, Jonathan Shapleigh, Cary Sullivan, and Kait Tabor.

Members of the team joining MCBANK in Louisiana will include James Berrigan, Scott Becker, Hayes Berthelot, Brandon Boudreaux, Claudia Carrere, Ben Dupuy, Harrison Frampton, Charles Gaspard, James Kock, Annie McClain, Nathan Neames, Cleland Powell, Josh Reed, Charlotte Sapir, Shelly Serigne, Pat Trahan, Tommy Westervelt, and Conny Zeagler.

Members of the team joining MCBANK in other states will include Steve Cohen in Florida, Eve Sawyer in Texas, and Jon Shanfield in Maryland.

KBW and Performance Trust Capital Partners, LLC ("PT") served as co-placement agents to DMMS in the equity offering. Squire Patton Boggs (US) LLP served as legal counsel to the co-placement agents. KBW served as financial advisor, and Troutman Pepper Locke LLP served as legal advisor to DMMS in the merger transaction and equity offering. Sterlington PLLC and Jones Walker LLP also served as legal advisors to DMMS. PT served as financial advisor, and Baker Donelson served as legal advisor to MCBI and MCBANK in the merger transaction. A fairness opinion was provided to MCBI by National Capital, LLC.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval. The securities described herein were offered and sold in a private placement conducted in accordance with Rule 506(b) of Regulation D under the Securities Act of 1933, as amended (the "Securities Act") and/or Section 4(a)(2) of the Securities Act and similar exemptions under applicable U.S. state securities laws. The offering was not conducted through any form of general solicitation or general advertising. The securities have not been, and will not be, registered under the Securities Act or any state securities laws and may not be offered or resold absent registration or an applicable exemption therefrom.

About DMMS Purchaser, Inc. 
DMMS Purchaser, Inc. is a recently-formed merger vehicle and a wholly-owned subsidiary of DMMS Holdings LLC, which is led by Daryl Byrd, former CEO of IBERIABANK Corporation, together with a senior team of banking executives focused on building a premier regional banking franchise grounded in relationship banking, strong leadership, and long-term value creation.

About M C Bank & Trust Company and MC Bancshares, Inc.
MC Bancshares, Inc. is the holding company for M C Bank & Trust Company. Founded in 1955 and headquartered in Morgan City, Louisiana, MCBANK is a relationship-driven community bank serving individuals, families, and businesses across the Southeast. The bank provides a full range of personal and commercial banking services with a focus on local decision-making and long-term client relationships. To learn more, visit www.mcbt.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. DMMS Purchaser, Inc., MC Bancshares, Inc., and MCBANK undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release. PT and KBW are registered broker-dealers whose products and services are offered to institutional investors and are not intended for, or directed to, retail investors or the general public.

SOURCE MC Bancshares