M&M Bank Purchases Locations Downtown, In West Mobile

Shamrock Properties LLC, through the Eastern Shore Chamber of Commerce, announced that Merchants & Marine (M&M) Bank, headquartered in Pascagoula, Mississippi, has purchased the 3-5 North Royal Street commercial property in Downtown Mobile for $1.25 million. According to Business Wire, they have also acquired the West Mobile Branch of Bank OZK, where M&M will assume all deposits, loans and other assets of the former OZK office, pending review by federal and state bank regulators. The deal is expected to close later this year. The downtown site is expected to be open early next year around Mardi Gras time. President and CEO of M&M says the company is “delighted to be able to join the Mobile community in such a meaningful way. Balancing the history and growth of downtown with the progress and commerce of West Mobile places M&M Bank in a great position to serve Mobilians. Our bank has deep roots along the Gulf Coast, and many of these roots have run through Mobile for decades.”