M&F Bancorp, Inc. Announces Second Quarter 2018 Earnings
DURHAM, N.C.— M&F Bancorp, Inc. (“Company”) (OTCPink: MFBP), the parent company of M&F Bank (“Bank”), announced unaudited financial results for the second quarter of 2018 today.
James H. Sills, III, President and CEO of the Company, commented, “We had a very good second quarter. We experienced improvements in loan growth, deposit growth, fee income and positive earnings. Our overall strategies to improve loans outstanding and core earnings are starting to bear fruit. We continue to improve in all the operational areas of the Company, and our overall delinquency percentage remains steady around 1.00% as of June 30, 2018. During the second quarter, we had excellent loan diversity and sales activity. The commercial and retail teams have attracted new small and medium sized businesses and consumer customers to the Company, which allows us to generate organic growth in our five markets. We closed 45 loans totaling $10.0 million and our loans outstanding increased from $159.0 million as of March 31, 2018 to $164.6 million as of June 30, 2018. Read full press release