The takeover of M C Bank by a group led by former IberiaBank executive Daryl Byrd got federal approval, bank officials announced.
The Federal Reserve’s board of governors granted regulatory approval of the proposed merger between the bank and Byrd’s group, DMMS Purchaser, and M C Bank. Both companies expect the merger to occur on or around Friday.
The move will establish M C Bank as a stronger, more competitive financial institution, officials from both groups said…