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 staffed by seasoned banking professionals with a lot of experience in emerging markets and industries.
A wide range of cannabis business owners, including dispensaries, cultivators, testing labs, armored car services, wholesalers, and retailers, will be served by the new division.
Business owners will work with CannaFirst's 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.
Clayton Legear, president and CEO of Merchants Marine Bank, said that the Merchants Marine Bank has been a partner for the region's business owners for more than 100 years. By paying attention to the changing dynamics of the communities that you serve, you can make banking services readily available to entrepreneurs who are taking advantage of new opportunities in the marketplace. CannaFirst is a reflection of that philosophy, and we are very proud to be expanding our financial expertise into this emerging industry.