Acquiring Company
Optus Financial
Acquired Company
M&F Bank
DurhamFinancial ServicesLending And InvestmentsFinancial ServicesFinanceLendingBankingDescription
Optus Financial Corp. and M&F Bank have merged to create the largest Black-owned bank in U.S. history. The deal, valued at more than $105 million, highlights the merger's potential to serve and empower marginalized communities. With a combined asset total of $1.3 billion, the new entity aims to focus on economic opportunity and wealth gap closure for Black Americans. The merger represents a significant consolidation in community banking dedicated to reinvesting in local neighborhoods.
M&A Insights
Based on deal dataFrequently asked
Who acquired M&F Bank?
M&F Bank was acquired by Optus Financial. The deal was reported on August 1, 2026. Optus Financial Corp. is the parent company of Optus Bank, focused on economic empowerment and closing wealth gaps. Founded in 1921, it has a historic commitment to serve minority communities. Optus Financial is privately held and operates in Financial Services.
When did Optus Financial acquire M&F Bank?
Optus Financial's acquisition of M&F Bank was reported on August 1, 2026. Optus Financial Corp. and M&F Bank have merged to create the largest Black-owned bank in U.S. history. The deal, valued at more than $105 million, highlights the merger's potential to serve and empower marginalized communities. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does M&F Bank do?
M&F Bank is North Carolina’s oldest minority-owned financial institution and a pivotal entity in African American banking history. Established in the 20th century, it has played a crucial role in supporting the Black community’s economic interests. It is privately held, operating in Financial Services, and is based in Durham.