PASCAGOULA, Miss.–Merchants & Marine Bank, a century-old Mississippi-based banking institution, has introduced CannaFirst Financial (CannaFirst), the inaugural banking division specifically aimed at business owners in the rapidly growing cannabis industry in Mississippi.
Services Tailored for the Cannabis Industry
CannaFirst is designed to assist clients with platform integration, online and mobile banking, cash transport, and treasury solutions. The division is managed by experienced banking professionals who possess extensive knowledge and certifications in emerging markets.
Commitment to Local Business Owners
“Merchants & Marine Bank has been a steadfast partner for business owners in our region for over a century,” stated Clayton Legear, President and CEO of Merchants & Marine Bank. “A legacy of this nature is built by responding to the evolving needs of the communities we serve, ensuring banking services are accessible to entrepreneurs tapping into new market opportunities. CannaFirst embodies this philosophy, and we are proud to expand our financial expertise into the cannabis sector.”
Supporting the Cannabis-Based Business Landscape
CannaFirst aims to serve a diverse array of cannabis-related businesses, including dispensaries, cultivators, testing labs, armored car services, wholesalers, and retailers. Clients will collaborate with a specialized banking team to resolve challenges such as integrating transaction and deposit platforms, enhancing digital banking capabilities, monitoring account activity, securing cash transport, and fostering relationships with the Treasury.
Facilitating Regulatory Compliance
“Legally operating cannabis businesses deserve access to the same banking services as any other industry without undue barriers,” emphasized Jeff Trammell, Chief Risk and Strategy Officer for Merchants & Marine Bank. “These business owners must comply with regulations that can often be uncertain, and they require qualified banking experts to assist in achieving compliance. CannaFirst is here to meet those needs for our community of business partners and their affiliates.”
Contact Information
For more details about the services provided by CannaFirst Financial, please contact Jon Parker, Director of Sales, at 228-471-4153 or via email at jon.parker@cannafirst.com.
About CannaFirst Financial
CannaFirst Financial (CannaFirst) is an FDIC member and an equal housing lender, comprised of dedicated professionals who collaborate directly with cannabis business owners and their affiliates. Backed by a state-chartered Mississippi bank with over 100 years of experience, CannaFirst offers sustainable banking services and regulatory guidance to support the success of their clients’ businesses. More information can be found at www.cannafirst.com.
About Merchants & Marine Bank
Merchants & Marine Bank is a community bank chartered in Mississippi, serving the Gulf South region. As an FDIC member and an equal housing lender, the bank was founded in 1899 and was revitalized in 1932 during the Great Depression. Over the decades, it has expanded from $25,000 in assets to over $700 million, growing from two offices to 16 locations across the Mississippi and Alabama Gulf Coast and the Mississippi Pine Belt. The bank also provides mortgage financing through its Canvas Mortgage division. More information is available at www.mandmbank.com and www.canvasmortgage.com.