{"id":3638,"date":"2026-07-24T14:07:50","date_gmt":"2026-07-24T14:07:50","guid":{"rendered":"https:\/\/usmovingexpertss.com\/?p=3638"},"modified":"2026-07-24T14:07:50","modified_gmt":"2026-07-24T14:07:50","slug":"black-owned-columbia-bank-announces-merger-creating-billion-dollar-company","status":"publish","type":"post","link":"https:\/\/usmovingexpertss.com\/?p=3638","title":{"rendered":"Black-owned Columbia bank announces merger, creating billion-dollar company"},"content":{"rendered":"<article><!-- --><!-- --><!-- WPS-5038 -- removed the script from WPS and added the placeholder for trinity player --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- CONTENT --><!--[--><!--[--><!-- --><!--]--><!--[--><\/p>\n<p>A large Columbia-based bank with a focus on serving underserved communities is absorbing another bank with a similar mission, a Thursday news release from the companies announced.<\/p>\n<p>Read more <a href=\"https:\/\/usmovingexpertss.com\/?p=3636\">Exploding car bling cost Columbia woman her eye, lawsuit against Amazon says<\/a><\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>Optus Bank, which was founded in 1921 and is South Carolina\u2019s first African American-owned bank, is joining with Durham, North Carolina-based Mechanics and Farmers Bank, the second-oldest African American-owned bank.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>Both companies are Minority Depository Institutions and certified Community Development Financial Institutions, federal designations which indicate a bank is primarily owned by minority businesspeople and aim to serve and empower economically distressed communities.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>In a statement, Optus and Optus Bank Chairman Paul Mitchell called the merger a defining moment, saying it would greatly advance mission-driven banking.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>\u201cM&amp;F Bank has a proud legacy of supporting entrepreneurship, fostering generational wealth, and expanding access to capital in underserved communities,\u201d Mitchell wrote. \u201cTogether, we will create a stronger institution with greater scale, enhanced capabilities, and an expanded capacity to advance economic mobility throughout the Carolinas and beyond.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/usmovingexpertss.com\/?p=3634\">How and when to vote in the SC special Republican Senate primary in Horry County<\/a><\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>According to the release, the transaction\u2019s total aggregate value is expected to exceed $105 million, with MFBP shareholders, M&amp;F\u2019s parent company, receiving up to $53.30 per common share in cash. The combined company\u2019s total assets were valued at approximately $1.27 billion in March 2026, the release said.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>The merger will form the largest African American owned financial institution in the United States, the release said. M&amp;F\u2019s seven locations will operate under their current name for two years before rebranding to Optus.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>MFBP CEO James H. Sills III will continue in that role under the combined company, while Mitchell will remain Chairman.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>Financial advisor firm Performance Trust Capital Partners, LLC and law firm Nelson Mullins Riley &amp; Scarborough LLP assisted Optus in making the deal, which remains subject to regulatory and MFBP shareholder approval.<\/p>\n<p>Read more <a href=\"https:\/\/usmovingexpertss.com\/?p=3632\">A \u2018treasure hunt\u2019 with a purpose: USC students seek clues to university\u2019s untold past<\/a><\/p>\n<p><!-- --><!--]--><!--]--><!-- --><!-- --><!-- --><!-- --><\/article>\n","protected":false},"excerpt":{"rendered":"<p>Columbia, South Carolina based Optus Bank announced a merger with M&amp;F Bank in Durham, North Carolina. M&amp;F\u2019s seven locations will be absorbed into Optus.<\/p>\n","protected":false},"author":1,"featured_media":3637,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-3638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Black-owned Columbia bank announces merger, creating billion-dollar company - US Moving Experts<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/usmovingexpertss.com\/?p=3638\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Black-owned Columbia bank announces merger, creating billion-dollar company - US Moving Experts\" \/>\n<meta property=\"og:description\" content=\"Columbia, South Carolina based Optus Bank announced a merger with M&amp;F Bank in Durham, North Carolina. 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