Dossier
M&F Bank
Coverage of M&F Bank in the Nexus archive.
Optus Bankorganization2Optus Financial Corp.organization1James Sillsperson1Columbiaplace1Durhamplace1North Carolinaplace1South Carolinaplace1James H. Sills IIIperson1Paul Mitchellperson1Benita Lefftperson1Carolinasplace1minority depository institution (MDI)topic1community development financial institution (CDFI)topic1
- NC to lose bank HQ with merger creating $1.3B institution
M&F Bank, North Carolina’s oldest minority-owned financial institution, is merging with Optus Financial Corp. to form a $1.3 billion bank headquartered in Columbia. The combined company will operate 10 locations across the Carolinas, with M&F CEO James Sills leading as chief executive officer while remaining based in Durham.
- Black-owned M&F Bank, Optus Bank to merge in Carolinas
M&F Bank and Optus Bank, two major Black-owned banks, plan to merge in the Carolinas, creating a $1.27 billion asset institution with 10 locations. The merger, approved by both companies' directors, will retain MDI and CDFI designations to focus on community development and economic mobility.