Aug 26, 2020
Why PayPal just deposited $50 million in a small South Carolina bank
PayPal has just deposited $50 million in an account at Optus Bank, a minority-owned institution in Columbia, S.C., that has $155 million in assets. As unlikely as this pairing may sound, it happened relatively quickly. In June, PayPal announced a $530 million commitment to support minority communities and businesses in the U.S., especially those hardest hit by the pandemic, to help address economic inequality.
Aug 18, 2020
Renewed Focus on Race Triggers Surge of Interest in Community-Based Lenders
The coronavirus pandemic and the heightened attention on race have thrown new light on a longstanding source of economic inequality: Black communities have less access to credit than white ones. To address that gap, Washington and Wall Street are turning to a small network of lenders set up precisely to address that disparity.
Jul 10, 2020
Taking Full Advantage of Small Business Pandemic Assistance
The small business community has been severely impacted by the pandemic. The financial assistance from the various levels of government has certainly helped but our next guest says that his experience working with small business owners through all of this has highlighted the importance of having a strong and supportive network already in place.
Apr 28, 2020
Small SC banks keep coronavirus aid focused on small businesses
The Great Recession left Optus Bank reeling, overexposed with loans to the industries and people hardest hit. This time around, the bank is a model in battling the economic crisis brought on by the novel coronavirus.
Mar 2, 2020
Podcast: How ‘old school personal banking’ helped turn Optus Bank around
From 2010 to 2018 the South Carolina bank was on the FDIC's problem bank list, but in the last two years it has been profitable. Dominik Mjartan, the bank's president and CEO, explains how technology upgrades and relationship building helped it get back on track.
May 8, 2019
Optus Out to Prove a Small Bank Can Leverage Technology
Innovative technology developments and a new business model is the key to the bank’s future, according to Mjartan, no small undertaking for a bank with a …
Apr 19, 2019
Minority business owners make connection during the “Power Hour”
Dozens of local business owners came out to connect with each other and network with officials from the City of Columbia’s Office of Business Opportunity at the…
Apr 4, 2019
S.C. Community Bank now officially Optus Bank
S.C. Community Bank officially changed its name to Optus Bank on April 1 and will complete its conversion to a new core banking system and upgraded…
Mar 26, 2019
Banks explore ways to capitalize on tax law’s ‘Opportunity Zones’
The way Dominik Mjartan sees it, a new building for the Midlands Arts Conservatory charter school will not only help a group of about 100 students, but could also…
Aug 6, 2018
How this black-owned bank is turning itself around with fintech
A $52 million-asset African-American-owned bank in South Carolina is hoping a tech makeover can return it to profitability and expand its services to…