NEW YORK–(BUSINESS WIRE)–Sterlington advised the management team and investor group behind DMMS Purchaser, Inc., led by former IBERIABANK Corp. CEO Daryl Byrd, in connection with an agreement and plan of merger with MC Bancshares, the holding company for M C Bank & Trust Company, a Louisiana state-chartered bank with 10 locations across Southeast Louisiana.
The proposed transaction will bring together an experienced banking leadership team and a long-established regional institution, with the combined company expected to continue operating as M C Bank following closing. Under the agreement, DMMS’s leadership team would assume key executive and board roles, including Daryl Byrd as Chief Executive Officer and Chairman of the bank’s holding company.
Sterlington advised the management team of DMMS on the deal and on the structuring of tax-efficient equity arrangements in support of the transaction.
Partners Jeremy L. Goldstein and Christopher S. Harrison led the Sterlington team, with support from partners Stuart Daroca, Kristy Fields, and Robert Kantowitz and associates Jing Zhang and Stefania Olmos.