M&F Bancorp, Inc. Announces Third Quarter 2017 Results
DURHAM, N.C.– M&F Bancorp, Inc. (“Company”) (OTCPink: MFBP), the parent company of M&F Bank (“Bank”), announced unaudited financial results for the third quarter of 2017 today.
James H. Sills, III, President and CEO of the Company, commented, “We continue to improve in all the operational areas of the Company. During the third quarter, we received our fifth Bank Enterprise Award (BEA) from the U.S. Treasury in the amount of $227,000, which is a testament to our commitment to serve low/moderate income communities within our footprint. We continue to experience improvements in deposit growth, fee income and controlling non-interest expenses. During the third quarter, we had flat loan growth, and we had a large shared national credit that impacted our profitability and delinquency ratios, which we continue to monitor very aggressively. For the fourth quarter, we anticipate our loans outstanding to increase based on the current pipeline and the Company will continue to focus on our strategic priorities with emphasis on increasing loan volume.” Read full press release