A number of US banks have announced plans to open new branches or acquire existing premises as they build for the future.
Merchants & Marine Bank (M&M Bank) plans to establish a commercial loan and deposit production office in Hattiesburg, Mississippi, it announced last week.
The team will be led by Greg Hodges and will focus on offering “a complete array” of business lending products and services, the bank said, as well as digital banking and treasury management services.
“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, said “the time is right” for his bank to enter the Hattiesburg market.
“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,” Legear added.
Earlier this year, M&M Bank announced a plan to acquire an office in western Mobile, Alabama. The bank already has 13 full-service branches across the Mississippi and Alabama Gulf Coast area.