Triad Business Bank urges M&F to engage on rival offer before November 4 vote

• Triad Business Bank challenged M&F's rejection of its competing proposal as M&F postponed its shareholder meeting to November 4.
• The proposal offers $53.50 cash per share or a fixed 1.25-share exchange ratio; cash elections exceeding 25% of outstanding shares face proration.
• M&F shareholders would own about 47% to 50% of the $1 billion combined institution, preserving M&F's charter, Durham headquarters and minority-depository status.
• The competing Optus agreement offers up to $46.57 per share at closing, with another $6.73 conditional on timely Series E preferred redemption.
• Optus would absorb M&F Bank at closing, retaining the Mechanics & Farmers name for two years as a division.

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 Business Wire (Ref. ID: 20261021520457) on October 22, 2026, and is solely responsible for the information contained therein.