Mississippi-based Merchants & Marine Bank said it has reached a deal to acquire FM Bank of Breaux Bridge in an all-cash deal.
The sale price was not disclosed. The merger is set to close in the second quarter, pending regulatory approval. The merger has already been approved by each bank’s board of directors.
The plan is for FM Bank to operate under its own name as a division of Merchants & Marine. Fred Mills, FM Bank president and CEO, would continue to serve in a leadership role…