Sterlington Advises DMMS Purchaser, Inc. in Completion of Merger with MC Bancshares, Inc.

NEW YORK–(BUSINESS WIRE)–Sterlington advised the management team and investor group behind DMMS Purchaser, Inc. (“DMMS”), led by former IBERIABANK Corp. leaders Daryl Byrd, Mark Tipton, Michael Brown, and Scott Price, on the closing of its merger with MC Bancshares, Inc., the holding company for M C Bank & Trust Company (“MCBANK”). Upon completion of the merger, DMMS will change its name to MC Bancshares, Inc. (“MCBI”).

In connection with the transaction, DMMS 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. M C Bank & Trust Company will continue operating under the MCBANK name, with Daryl Byrd serving as chief executive officer and chairman of MCBI.

Sterlington advised the management team of DMMS on the merger 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.