Daryl Byrd Takes on New Leadership Role in Louisiana Banking
Daryl Byrd, the former CEO of Iberiabank, is set to embark on his next chapter in the Louisiana banking industry. After the acquisition of Iberiabank by First Horizon in 2019, Byrd is now poised to become the chair and chief executive of Morgan City-based M C Bancshares, the holding company for M C Bank & Trust Co., as announced in a recent deal.
Key Appointments from Iberiabank Alums
Byrd is not alone in his new venture, as he is bringing along several key members from his former team at Iberiabank:
- Mark Tipton, currently the Georgia regional president at First Horizon, will take on the role of president at M C Bank.
- Michael Brown, who has been a private investor since leaving First Horizon in 2021, will serve as M C Bank’s operations chief.
- Scott Price, the CFO of NewtekOne, will join M C Bank as its CFO.
Acquisition Details and Future Plans
Under Byrd’s leadership, an investor group named DMMS Purchser has agreed to acquire M C Bancshares in a deal expected to close in the first half of 2026. Byrd expressed his excitement for this new opportunity, stating that he missed the engagement and excitement of being a CEO and is eager to bring his energy to this new role.
Following the acquisition, M C Bank will retain its name and continue to serve its customers with a focus on relationship-oriented banking. The bank, with approximately $480 million in assets, operates across 10 locations in southern Louisiana and has plans to open three new branches, including one in Uptown New Orleans.
DMMS intends to retain the bank’s 100-person workforce, emphasizing a commitment to maintaining existing talent. Byrd envisions a client-oriented focus similar to that of Iberiabank, aiming to create a meaningful regional presence for M C Bank.
Strong Leadership Team and Strategic Investments
The deal will involve a substantial investment of up to $250 million by DMMS, alongside legacy holding company investors, to enhance M C Bank’s capital and position it as a significant regional player. Chris LeBato, M C Bank’s current CEO, will transition to the role of vice chair and chief of staff within the holding company’s executive committee, bringing his decade of experience from Iberiabank to the new venture.
Byrd, Brown, and Tipton began exploring the idea of launching a new banking franchise after their non-compete agreements with First Horizon expired. Byrd’s track record of overseeing numerous bank acquisitions at Iberiabank demonstrates his expertise and experience in the industry.
Upon completion of the deal, M C Bancshares’ existing shareholders will own approximately 25% of the new franchise, with new investors holding the majority stake.
Continued Growth and Collaboration
The acquisition of M C Bank by DMMS represents a strategic alignment of talent, experience, and vision that Byrd believes will propel the bank forward in a unique and impactful way. Former executives from Iberiabank, including Jack Deano, Cleland Powell, and Rob Worley, are set to join the DMMS team, further enhancing the bank’s leadership capabilities.
Byrd’s drive for growth and innovation is evident in his successful tenure at Iberiabank, where he transformed the institution from a small regional player to a major banking presence across the Southern states.
As Byrd and his team embark on this new chapter with M C Bank, they are poised to build on their past successes and create a client-focused, relationship-driven banking experience for customers in Louisiana and beyond.
Sources: Here
