Daryl Byrd, former CEO of IberiaBank, is back in Louisiana banking. After IberiaBank was bought by First Horizon in 2019, Byrd is now leading an investor group to acquire Morgan City-based M C Bancshares, the parent company of M C Bank & Trust Co. This deal, announced on Wednesday, represents a major leadership change. Byrd will be the new CEO and chair, bringing several former IberiaBank executives with him.
Byrd is not the only former IberiaBank leader joining M C Bank. Mark Tipton, former Georgia regional president at First Horizon, will take over as M C Bank’s president. Michael Brown, a private investor since leaving First Horizon in 2021, will be the operations chief. Scott Price, CFO of NewtekOne, will assume the role of CFO at M C Bank. This new leadership team will work together to revitalize the bank.
A New Era for M C Bank and Southern Louisiana
Byrd’s investor group, DMMS Purchser, will acquire M C Bancshares for an undisclosed sum. The deal is expected to close in the first half of 2026. M C Bank, with $480 million in assets, will retain its name. The bank plans to open three new branches, including its first in Uptown New Orleans, to expand its footprint.
Byrd’s return to banking comes after a short retirement. “I missed the engagement, relationships, and excitement of being CEO,” Byrd said. He believes there is room in the market for a relationship-oriented commercial bank. He aims to replicate the model he built at IberiaBank, offering customer-centered services.
Strategic Investments and Future Growth Plans
As part of the deal, DMMS will invest up to $250 million into M C Bank. This investment will strengthen the bank’s capital and help it grow into a significant regional player. The focus is on enhancing customer service and expanding operations in southern Louisiana.
Chris LeBato, the current CEO of M C Bank, will stay on as vice chair and chief of staff. LeBato, also a former IberiaBank executive, will work alongside Byrd and the new leadership team to ensure the bank’s success. Byrd views the collaboration as an alignment of talent and experience, which will propel M C Bank forward.
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Daryl Byrd’s return to Louisiana banking marks a new chapter for M C Bank. With his experience and the support of his team, the bank is set to expand. Byrd’s leadership at IberiaBank laid the foundation for this new venture. M C Bank’s future looks promising, with a strong focus on customer relationships and regional growth.
