SouthState Invests $500,000 in Optus Bank to Help Close Racial Wealth Divide
SouthState Bank announced an investment of $500,000 into Optus Bank, a federally designated minority depository institution (MDI) and community development financial institution (CDFI), in support of the bank's mission to close the wealth gap in previously unbanked, underbanked, and historically underserved people and places. "Fulfilling our commitment to closing the opportunity gaps in our communities requires strategic investments from mission-aligned partners like SouthState. With support of their equity investment, we have raised a total of $17 million in new capital since 2020 and grown our assets to nearly $300 million," said Dominik Mjartan, Optus Bank president & CEO. "Deploying this capital into underserved communities, minority owned homes and businesses to create generational wealth is Optus Bank's mission and mandate."