Our Mission

M&F Bank is a historic independent community bank committed to meeting the needs of a wide range of individuals and businesses within our markets, while providing unparalleled customer service with an above average return for our shareholders. We enhance the wealth and well being of the communities that we serve by providing competitive and holistic financial solutions, with particular emphasis on the financial needs of underserved populations and geographies.

Why M&F Bank?

Durham Lobby

We operate in the space of being a partner and resource to the communities we serve. In light of this, we are proud that for 25 years, we have maintained an “Outstanding” Community Reinvestment Act (CRA) rating. This means that it has been determined that we have a proven track record of meeting the credit needs of the individuals, businesses and nonprofits in our local communities. This also represents our dedication to serving and empowering economically distressed communities.

We pride ourselves on being available. During the COVID-19 pandemic, M&F Bank quickly and efficiently worked to meet the needs of our customers. We provided loan payment deferrals as well as guidance and assistance related to relief options for small businesses. We were able to impact over 1,300 local jobs and 163 local small businesses through our participation in the Paycheck Protection Program.

We know you. We are a small institution with the same capabilities of a large one. The difference is the one-to-one attention that we are able to give. As we like to say, we are big enough to serve you, and small enough to know your name. We invite you to come experience the M&F way, and develop a relationship with an experienced, knowledgeable, and friendly local banker.

Bank with us from near or far. We are well equipped to be your primary bank. We offer convenient digital banking options including a mobile app, online banking, and mobile check deposit, so, even if you are not near a branch or do not wish to visit one, you can still do business with us.

Our History

Mechanics and Farmers Bank was founded February 25. 1907.
The bank opened for business August 1908 at 112 W. Parrish St.
Merged with Fraternal Bank & Trust in 1921.
Became NC’s first lending institution to be certified by the FHA, and in the same year, the bank’s assets exceeded $1 million.
Assets exceeded $100 million.
Certified as a Community Development Financial Institution (CDFI).

Mechanics and Farmers Bank was born from a need for opportunity. At the turn of the 20th century, African Americans were navigating tremendous obstacles in the fight to participate in the economy. For African Americans, there were few opportunities to obtain financing for their business ventures or homes. There were equally few options to safely place money on deposit and earn interest with established banking institutions, so, the black community created their own.

M&F, a state-chartered commercial bank, was organized in 1907 under the authority of a charter issued by the Legislature of the State of North Carolina. The founders had a dream for their community. The nine businessmen — the pioneers — who became the original incorporators of the bank were successful and active community builders, and by the time M&F was chartered most of them had been involved in the establishment of numerous other institutions and organizations that formed the nucleus of a thriving business and residential district in Durham, anchored by what became known as Black Wall Street. These men were R. B. Fitzgerald, J. A. Dodson, J. R. Hawkins, John Merrick, Aaron M. Moore, W.G. Pearson, James E. Shepard, G. W. Stephens, and Stanford L. Warren.

The Bank’s mission is a commitment to promoting personal and community development and we remain true to these values. Helping individuals, businesses, and community institutions grown and develop are the philosophical tenets that inform our decisions and guide our actions.

Celebrated 100th anniversary of the founding of the bank.
Acquired Mutual Community Savings Bank.

Assets reach an all-time high of $312M.


Rebranded as M&F Bank.

Formed Millennial Advisory Board.
Historic Parrish Street Branch Renovation.

Board of Directors

M&F Bancorp, Inc. Board of Directors

James A. Stewart, Chairman
Connie J. White, Vice Chairman
Willie T. Closs, Jr.
Michael L. Lawrence
James H. Sills, III

M&F Bank Board of Directors

James A. Stewart, Chairman
Connie J. White, Vice Chairman
Emma S. Allen
Willie T. Closs, Jr.
Michael L. Lawrence
Cedric L. Russell
James H. Sills, III


Raleigh City Advisory Board

Joseph M. Sansom, Chairman
Soberina Traywick, Secretary
Courtney Crowder
Rev. Paul L. Anderson
James H. Sills III, Ex Officio
Joselyn D. Williams

Charlotte City Advisory Board

Vickie Smith
Damian Johnson
Charles Hands
Walter Tucker, Chairman
Tanya Dial-Bethune, Secretary
Emma S. Allen
Dr. Jimmy R. Jenkins
James H. Sills III, Ex Officio
Yolanda Johnson
T. Michael Todd
Malcolm Davis
Rhonda Caldwell

Durham City Advisory Board

Brad Ives
Shelly McPhatter
William V. “Bill” Bell
Allen Chan
Dr. Eric Davis
Kenneth Gibbs
Bryan Scherich
James H. Sills III, Ex Officio
James Stewart

Greensboro City Advisory Board

Warché K. Downing
Bishop George W. Brooks
Damien Gorham
Dr. Sharon Long-Stokes
Zack Matheny
Mae Douglas
Dr. Mark Kiel
James H. Sills III, Ex Officio

Winston-Salem City Advisory Board

Carol Montague-Davis
Paul “Max” Maxwell
Cedric L. Russell
Bishop Todd Fulton
Evelyn Acree
Martha Wood
Francisco Cámara Riess
Maya A. Gilliam
James H. Sills III, Ex Officio

Millennial Advisory Board

Warché K. Downing, Chairman
Anthony McClenny
KiYana Watts
Tiffany Foggie
Charles Hands III
Marcus Howard
Wendell Jean-Jules
Alexes Johnson
Tasha Lee
Archele Moore
Colton Palmer
Carlton Rowe
Brandon Winston

The Power to Dream

Since our doors opened in 1908, M&F Bank has maintained a deep commitment to the communities we serve. One of our original policies was to provide “no large loans…to a few profiteers, but rather conservative sums to needy farmers and laborers.” Over 100 years later and the ideals behind this policy have not changed. We still aim to be a resource for the members of our communities to enhance their financial prosperity. We were then, and still are now, in the business of empowering dreams.

Our commitment to providing capital to small and medium sized businesses is rooted in these values. Local business is beneficial to communities in ways that should not be ignored. Small business provides jobs for locals, keep dollars in the local economy, add vibrancy and uniqueness to communities, and help support local charities and causes. Research has shown that the economic state of a community is partially related to the amount of money spent in the businesses in that community.

Therefore, by being a partner in helping these businesses grow and thrive, the effort could have a direct effect on the vitality of our neighborhoods.

We want you to know that we believe in the power of your dreams. We are here to listen to you and understand your vision so that we can help make it a reality.  Whether it’s growing your business, saving for the future, or just being in control of your financial life — you have a partner in M&F Bank. We are interested in developing relationships, not just completing transactions. We are interested in what we can do for you, and in turn, what we can do for our communities through you.

M&F Bank—we believe in The Power to Dream.

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