Merchants & Marine Bancorp, Inc. Announces Second Quarter Financial Results and Share Repurchase Program
Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reported net income available to common shareholders through the second quarter of 2026 of $11.37 million, or $8.36 per share, compared with earnings of $875 thousand, or $0.66 per share, in the same period of the prior year. Gross income through the second quarter totaled $53.31 million, an increase of 109.8% from the prior year. Balance sheet footings increased by 42.12% to $1.35 billion during the 12 months ended June 30, 2026. Net loans grew to $677.13 million over the trailing 12 months from $464.29 million, an increase of 42.12%. Total deposits increased 61.41% during the same period, from $602.77 million at June 30, 2025, to $972.95 million. Significant growth in the balance sheet and in earnings is primarily the result of the successful consummation of the previously announced acquisition of Farmers-Merchants Bank, Breaux Bridge, LA, (FM Bank) which closed on April 1, 2026.
Selected financial highlights:
Net loans increased significantly to $677.13 million at the end of second quarter. Loans added through the FM Bank acquisition comprise $239.50 million of the end of quarter total.
