 Along with Credito Industriale Sardo and ISVEIMER, they were funded by Cassa per il Mezzogiorno, making the three banks were also known as Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare, or Istituti Meridionale in short.Due to , the bank became a "società per azioni", a kind of limited company by shares, known as IRFIS – Mediocredito della Sicilia S.p.A. or just IRFIS S.p.A..The bank also privatized by the state and acquired by Banco di Sicilia, which in turn acquired by Banca di Roma.