** M&F Bancorp's MFBP.PK shares jump 63.1% to $47.70

** South Carolina-based Optus Financial will buy MFBP to create a combined African-American-owned bank with roughly $1.27 billion in assets, the companies announced

** MFBP shareholders will receive $46.57 per share in cash at closing and an additional $6.73 per share contingent upon repurchase of certain outstanding shares of MFBP preferred stock

** Aggregate transaction value is expected to exceed $105.0 million

** Deal expected to close in Q4 2026

** As of last close, MFBP stock up 56% YTD