M&M Bank’s Legear named chair of Atlanta Fed’s Community Depository Institutions Advisory Council

Clayton Legear, chairman and CEO of Merchants & Marine Bancorp, has been appointed chair of the Federal Reserve Bank of Atlanta’s Community Depository Institutions Advisory Council, according to a news release.

Legear, who became CEO of Merchants & Marine Bank in 2019 and assumed the chairman role in 2025, said he is honored to serve in the position. “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,” he posted on social media Tuesday.

The council was created in 2010 by the Federal Reserve Board to advise on economic conditions, lending practices, and issues relevant to community depository institutions. Members include representatives from banks, thrift institutions, and credit unions across the country, serving on local advisory councils at the 12 Federal Reserve Banks.

As chair, Legear will represent the Atlanta Fed on the national council, which meets twice a year in Washington, D.C. His three-year term begins immediately, the Fed said.

Legear emphasized the importance of community banks in supporting local economies. “At Merchants & Marine Bancorp, 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,” he said. “That perspective is what I’m excited to bring to the table in this role.”

He expressed gratitude for the trust placed in him by the Atlanta Fed and said he looks forward to collaborating with fellow council members to share insights from regional communities at the national level.

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