A pair of banks has filed with regulators to proceed with pending acquisitions.
Commerce Bancorp in Greenwood, Miss., applied to acquire Morton Bancorp in Morton, Miss., and $80.9 million-asset unit Bank of Morton. No terms were disclosed when the deal was announced in July.
Commerce, the parent of the $810 million-asset Bank of Commerce, expects to close the deal in the first quarter.
Separately, MC Bancshares in Morgan City, La., submitted its application to buy the $182.4 million-asset Heritage Bank of St. Tammany in Covington, La. MC Bancshares agreed in July to buy Heritage for $6.5 million in cash.
The $403 million-asset MC Bancshares said it plans to complete the acquisition in the fourth quarter.