Merchants & Marine Bancorp, Inc. Announces Paige Oliver as New Brand President & Chief Executive Officer

PASCAGOULA, Miss.--(BUSINESS WIRE)-- Clayton Legear, President & Chief Executive Officer of Merchants & Marine Bancorp, Inc. (OTCQX: MNMB) today announced the selection of Paige Oliver to fill the newly established role of Merchants & Marine Bank Brand President & Chief Executive Officer. Oliver brings a wealth of experience to her new role, having served as President & Chief Executive Officer of the Bank of Oak Ridge in Oak Ridge, Louisiana for the prior 9 years.

“I am thrilled to welcome Paige to the Merchants & Marine Bancorp, Inc. family,” remarked Legear. “Paige’s extensive leadership experience, drive to make a positive impact on those around her, and passion for community banking make her the perfect fit to lead our company’s flagship brand as it continues moving toward its full potential. I am confident that she will help Merchants & Marine Bank clients, team members, and communities continue growing as well.”

Ms. Oliver will join a dynamic and seasoned group of community bankers in leading the Merchants & Marine Bank brand, including: Mississippi Coast Market President Mack Rushing; Baldwin County Market President Jimmy Conyers; Pine Belt Market President Grant Walker; and Director of Retail Banking David Thomas. Her deep understanding of the banking industry, extensive regional and national connections, and commitment to community-focused banking make her an ideal fit for Merchants & Marine Bank. As Merchants & Marine Bank Brand President & Chief Executive Officer, Oliver will operate under the direction of Legear and the Merchants & Marine Bancorp, Inc. Executive Leadership Team.

“I am honored to join Merchants & Marine Bank and excited to work with such a talented team,” said Oliver. “I look forward to building on the bank’s strong foundation and contributing to its continued success. Together, we will strive to exceed our clients’ expectations and support the financial well-being of our communities.”

Ms. Oliver's leadership will be instrumental in guiding Merchants & Marine Bank as it continues to expand its services and strengthen its position as a leading community bank. Her vision and experience will drive the bank’s strategic initiatives and enhance its commitment to providing innovative financial solutions to individuals and businesses. The ongoing growth and success of the Merchants & Marine Bank brand will be instrumental in supporting the continued growth and success of the entire Merchants & Marine Bancorp, Inc. Family of Brands.

About Merchants & Marine Bancorp, Inc.:

Merchants & Marine Bancorp, Inc. (OTCQX: MNMB) is the parent company of Merchants & Marine Bank (the “Bank”), a Mississippi-chartered community bank serving the Gulf South region. Originally founded in 1899, Merchants & Marine Bank was reborn in 1932 during the middle of the worst economic disaster in the history of the United States: The Great Depression. More than nine decades later, Merchants & Marine Bank has grown from a strong community bank to a strong and growing family of community banking brands. The Bank provides a full array of community banking services through its Merchants & Marine Bank and Mississippi River Bank divisions. The company offers mortgage financing through its Canvas Mortgage division, medical cannabis banking and payment solutions through its CannaFirst Financial division, government-guaranteed credit solutions through its Voyager Lending division, and bank operational and support services through its Community of Resources division. Both Merchants & Marine Bancorp, Inc. and Merchants & Marine Bank have been certified by the U.S. Treasury Department as Community Development Financial Institutions (“CDFI). For more information on Merchants & Marine Bancorp, Inc., visit https://mandmbank.com/investor-relations.

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Clayton Legear

President & CEO

Merchants & Marine Bancorp, Inc.

(228) 934-1271

clayton.legear@mandmbank.com

Source: Merchants & Marine Bancorp, Inc.