Merchants & Marine Bank Launches CannaFirst Financial, the first Mississippi bank for Cannabis Business Owners

Published by Ann Thompson on

 

PASCAGOULA, Miss.–(BUSINESS WIRE)–Merchants & Marine Bank, a century-old Mississippi-based banking institution, has launched CannaFirst Financial (CannaFirst), the first banking division dedicated to business owners in Mississippi’s quickly emerging Cannabis industry.

 

CannaFirst will serve clients in platform integration, online and mobile banking, cash transport, and treasury solutions. It is overseen and staffed by seasoned banking professionals with significant experience and certifications in emerging markets and industries.

“Merchants & Marine Bank has been a dedicated partner for our regions’ business owners for more than 100 years,” said Clayton Legear, President and CEO of Merchants & Marine Bank. “You achieve a legacy of that nature by paying attention to the changing dynamics of the communities that you serve — making banking services readily available to entrepreneurs who are taking advantage of new opportunities in the marketplace. CannaFirst is a direct reflection of that philosophy, and we’re very proud to be expanding our financial expertise into this emerging industry.”

CannaFirst is excited to serve to a wide-range of Cannabis-based business owners, including dispensaries, cultivators, testing labs, armored car services, wholesalers, and retailers. These business owners will work with CannaFirst’s specialized banking team to address issues such as integrating transaction and deposit platforms; increasing digital banking mobility; recording, assessing and reporting account activity; securing cash transport, and establishing rapport with the Treasury.

“Legally certified Cannabis-based businesses should not be denied access to the same banking services that other industries receive with little to no hassle,” said Jeff Trammell, Chief Risk and Strategy Officer for Merchants & Marine Bank. “These business owners are being asked to adhere to regulation that is, in some cases, still in limbo, and for that they need qualified banking experts to help them achieve compliance. That’s what CannaFirst is here to do, for our community business partners and their affiliates.”

For more information regarding services at CannaFirst Financial, reach out to CannaFirst Director of Sales, Jon Parker, via phone at 228-471-4153, or by email at [email protected]

About CannaFirst Financial:

CannaFirst Financial (CannaFirst) is a member of the FDIC and an equal housing lender comprised of dedicated banking professionals who work directly with Cannabis business owners and their affiliates. Backed by a state-chartered Mississippi bank with more than 100 years of experience, CannaFirst provides sustained banking services and regulatory guidance to ensure their clients’ businesses continue to thrive. For more information about CannaFirst Financial, please visit www.cannafirst.com.

About Merchants & Marine Bank:

Merchants & Marine Bank is a Mississippi-chartered community bank serving the Gulf South region, as well as a member of the FDIC and an equal housing lender. Originally founded in 1899, the bank was reborn in 1932 during the middle of the Great Depression. More than eight decades later, Merchants & Marine Bank has grown from $25,000 to over $700 million in assets, and from two offices to 16, serving the Mississippi and Alabama Gulf Coast region as well as the Mississippi Pine Belt. The bank offers mortgage financing through its Canvas Mortgage division.

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