PASCAGOULA, Miss.--(BUSINESS WIRE)--Merchants & Marine Bank (“M&M Bank”) a wholly owned subsidiary of Merchants & Marine Bancorp, Inc. (OTC QX: MNMB) today announced plans to establish a commercial loan and deposit production office in Hattiesburg. Led by long-time local banker Greg Hodges, the commercial banking team includes Brad Cornett who also has significant commercial banking experience in the Hattiesburg market.
“M&M Bank has been serving Southern Mississippi since 1898, and we believe the time is right to establish a presence in Hattiesburg,” said Clayton Legear, M&M Bank President and CEO. “Greg and Brad share our bank’s vision to consistently deliver solid products and solutions to commercial and industrial clients who value banking that is both service- and community-oriented. We are excited to have such an experienced local team to help us grow our business and presence in and around Hattiesburg.”
The team’s focus will be on establishing banking relationships by offering a complete array of M&M Bank’s business lending products and services, including commercial real estate and other business loans, as well as digital banking and treasury management services to help businesses better manage their cash flow. M&M Bank’s commercial banking office will be located at 140 Mayfair Road, Suite 100, Hattiesburg, MS, and is expected to be open by October 15, 2020, subject to approval from Federal and State banking authorities.
“While this year has certainly had its challenges, M&M Bank has chosen to focus on strategic opportunities that will position us for future growth,” said Legear. Earlier this year, M&M Bank announced plans to acquire an office in western Mobile, Ala., with plans to open a full-service location in downtown Mobile in 2021. In addition to Mobile, the bank has 13 full-service branches across the Mississippi and Alabama Gulf Coast area.
About Merchants & Marine Bank
Merchants & Marine Bank (M&M Bank), a wholly owned subsidiary of Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), is a full-service state-chartered community bank with over $600 million in total assets. M&M Bank operates 13 branch offices across the Mississippi and Alabama Gulf Coast and offers a full suite of traditional and electronic banking services for both personal and business clients.