Triad Business Bank Publishes M&F Bancorp Offer After Board Rejection

Triad Business Bank disclosed its fourth proposal for M&F Bancorp despite the target board's October 14 rejection of further discussions. The October 8 proposal offers $53.50 cash per share for up to 25% of outstanding shares, with oversubscriptions prorated. Alternatively, holders would receive 1.25 M&F Bancorp shares per existing share; the holding company would retain both banks under separate charters. M&F shareholders did not approve the competing Optus agreement on October 7; the meeting was adjourned to October 20. The proposal remains open through that vote and further adjournments, but is available only if the Optus agreement is not approved. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Triad Business Bank published the original content used to generate this news brief via (Ref. ID: 20261015724791) on October 16, 2026, and is solely responsible for the information contained therein. (C)