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Merchants & Marine Bank CEO Clayton Legear Appointed to State Board of Banking Review

Merchants & Marine Bank CEO Clayton Legear Appointed to State Board of Banking Review
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Merchants & Marine Bancorp Releases Earnings

Press release content from Business Wire. The AP news staff was not involved in its creation.
Merchants & Marine Bancorp Releases Earnings
July 19, 2021 GMT
PASCAGOULA, Miss. (BUSINESS WIRE) Jul 18, 2021
Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reports net income through the first six months of 2021 of $1.44 million, or $1.08 per share, compared with net income of $3.50 million, or $2.63 per share during the same period in 2020. It should be noted that during the same period in 2020, the company monetized a $3.1 million gain (pretax) by liquidating a portion of its securities portfolio, which materially affected per share earnings data during that period. ....

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Merchants & Marine Bancorp : Releases First Quarter Earnings

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Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reports first quarter 2021 net income of $567 thousand, or 43 cents per share, compared with net income of $843 thousand, or 63 cents per share during the same period in 2020.
The bank has been an active participant in the Small Business Administration’s Paycheck Protection Program (PPP). As of March 31, 2021, PPP loans constituted $36.2 million, or 10.28 percent, of the bank’s $355.9 million loan portfolio. Excluding PPP balances, loan growth was somewhat flat over the same period in 2020, growing 1.28 percent to $319.7 million from $315.7 million over the last twelve months. Interest and fees on loans totaled $4.94 million in the first quarter. When extracting fees realized on forgiven PPP balances, this number decreases to $4.32 million, which nonetheless represents an increase of 3.04 percent over the corresponding period in 2020. ....

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Merchants & Marine Bank Launches Residential Mortgage Division

Press release content from Business Wire. The AP news staff was not involved in its creation.
Merchants & Marine Bank Launches Residential Mortgage Division
April 12, 2021 GMT
PASCAGOULA, Miss. (BUSINESS WIRE) Apr 12, 2021
At its annual shareholders meeting on April 1st, Merchants & Marine Bank announced the creation of Canvas Mortgage, a new residential mortgage banking division. Canvas Mortgage will operate as a standalone division of the bank and serve the bank’s trade area of Mississippi and the Alabama Gulf Coast as well surrounding communities.
The new mortgage division will be led by Jonathan Shows and Sharon Rice, two of the region’s most accomplished residential mortgage leaders. Shows will serve as President, Mortgage Production, and Rice will be President, Mortgage Operations. Shows and Rice will be supported by a talented team of mortgage loan originators, underwriters and compliance officers. ....

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The Potential Impact of the Competition and Antitrust Law Enforcement Reform Act of 2021 on Antitrust Enforcement and Private Antitrust Litigation | Kramer Levin Naftalis & Frankel LLP

The Potential Impact of the Competition and Antitrust Law Enforcement Reform Act of 2021 on Antitrust Enforcement and Private Antitrust Litigation | Kramer Levin Naftalis & Frankel LLP
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