NORTH CAROLINA — M&F Bank, North Carolina’s oldest minority-owned financial institution, is merging with Optus Financial Corp., the parent company of Columbia, South Carolina-based Optus Bank.
The combined institution will operate 10 locations across the Carolinas and have about $1.3 billion in assets. It will be the largest Black-owned bank in the country.
M&F CEO James Sills will lead the combined company as chief executive officer. The headquarters will be in Columbia, but Sills will remain based in Durham.
Read more about the deal on CBJ’s website here.
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