Clayton Legear, Chairman and CEO of Merchants and Marine Bancorp
- “Community banking has always been close to my heart, and I’m proud to represent the voices of the clients, small businesses, and communities we serve every day,” said Clayton Legear, Chairman and CEO of Merchants & Marine Bancorp.
Clayton Legear, Chairman and Chief Executive Officer of Merchants & Marine Bancorp, Inc. and its subsidiary, Merchants & Marine Bank, has been appointed to lead the Federal Reserve Bank of Atlanta’s Community Depository Institutions Advisory Council (CDIAC).
“I am truly honored to step into the role of Chairman of the Federal Reserve Bank of Atlanta’s Community Depository Institutions Advisory Council,” Legear said on social media Tuesday morning. “This opportunity means a great deal to me, not just professionally, but personally. Community banking has always been close to my heart, and I’m proud to represent the voices of the clients, small businesses, and communities we serve every day.”
The CDIAC was established in 2010 by the Board of Governors to provide input to the Board on the economy, lending conditions, and other issues of interest to community depository institutions pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Members consist of representatives of banks, thrift institutions, and credit unions and serve on local advisory councils at the 12 Federal Reserve Banks.
As council chair, Legear will represent the Atlanta Fed on the national council, which meets with the Board twice a year in Washington, D.C.
Legear was named CEO of Merchants & Marine Bank, based in Pascagoula, Mississippi, in 2019. The financial institution has been a staple on the Coast for more than 120 years. Legear then rose to Chairman and CEO in 2025.
“At Merchants & Marine Bancorp, Inc., across our family of brands, we see firsthand the impact community banks have, helping people reach milestones, supporting local businesses, and strengthening the places we call home. That perspective is what I’m excited to bring to the table in this role,” Legear added. “I’m grateful for the trust placed in me by the Atlanta Fed and look forward to working alongside an outstanding group of fellow Council members as we help share insights from our communities at the regional and national level.”
Legear will serve a three-year term.
