Mississippi Bank Launches New Division To Serve Cannabis Business Owners

Merchants & Marine Bank has launched CannaFirst Financial, a new banking division dedicated to business owners in Mississippi’s 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.

The new division will serve a wide-range of cannabis business owners, including dispensaries, cultivators, testing labs, armored car services, wholesalers, and retailers.

The 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.

“Merchants & Marine Bank has been a dedicated partner for our regions’ business owners for more than 100 years,” Clayton Legear, president and CEO of Merchants & Marine Bank, said. “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.”

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