Merchants & Marine Bank enters Alabama

by Associated Press

Published: August 4,2011

Tags: banking and finance, Banks, financial institutions, mergers and acquisitions

PASCAGOULA — A Southeast Mississippi bank is moving into Alabama.

Merchants & Marine Bank of Pascagoula has bought Heritage First Bank branches in Gulf Shores and Crossville from Heritage First Bancshares Inc. of Rome, Ga.

The Mississippi Press reports that Wednesday’s sale does not include assets in Georgia. Merchants & Marine says it plans to keep all active employees at both Alabama locations.

Neither bank disclosed details about the purchase, which must be approved by state and federal regulators.

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