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Merchants & Marine Bank Promotes Jeff Trammell To COO

Benzinga · 01/06/2023 09:54

The board of directors of Merchants & Marine Bank, a wholly owned subsidiary of Merchants & Marine Bancorp (OTCQX:MNMB), announced the promotion of Jeff Trammell to the position of COO.

With the promotion, Jeff will serve as COO of both the holding company and its banking subsidiary. Trammell joined Merchants & Marine Bank’s executive leadership team in 2019, taking the role of chief risk & strategy officer.

“Jeff is one of the most intelligent, driven, and accomplished leaders that I’ve had the privilege of working with,” stated Clayton Legear, president and CEO of Merchants & Marine Bancorp. “He has the rare ability to not only identify opportunities, but to develop actionable strategies and rapidly mobilize teams to seize those opportunities.”

During Trammell’s tenure at Merchants & Marine Bank, he has provided critical leadership to several key initiatives including the overhaul of the bank’s credit risk management program, leading significant enhancements in the loan operations department, and strengthening the Bank Secrecy Act function, better positioning the bank for efficiency and scalability.

Trammell also led efforts to establish the bank’s new division, CannaFirst Financial, making the bank the first Mississippi financial institution to provide financial (or banking) services to the state’s medical cannabis professionals.

In his new role, Trammell will leverage his extensive knowledge and drive to help support the establishment of Merchants & Marine Bank’s new bank services division, which will serve as the operational backbone of the bank’s growing family of community banking brands.

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Photo: Courtesy of Merchants & Marine Bancorp