South Carolina Business Review

Big investment into SC bank helps underserved borrowers with business loans

By Mike Switzer

Published August 6, 2025 at 6:30 AM EDT

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Dominik Mjarten, Vice Chair of Optus Bank in Columbia, SC

Not too long ago, our next guest’s Midlands bank received about $40 million worth of investment money, much of it from four big money-center banks, as part of an effort to help underserved borrowers obtain the capital they need to start and grow meaningful businesses. Dominik Mjarten is vice chair of Optus Bank in Columbia, SC.

Optus Bank began in 1921 as Victory Savings Bank, South Carolina’s first Black-owned bank. S.C. Civil Rights leader Modjeska Monteith Simkins joined the bank full-time in 1957, managing the Harden St. branch until 1982.

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Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

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