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M&F Bancorp, Inc. Net Income Available to Shareholders Grew 14%, EPS Beat Projections by $0.07 Per Share

DURHAM, N.C.– M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), Net Income Available to Shareholders Grew 14%, EPS Beat Projections by $0.07 Per Share M&F Bancorp reported excellent results in the third quarter of 2022, with double-digit earnings growth and EPS that exceeded estimates by $0.07. In fact, given the strength in the numbers, we have raised our 2022 earnings projections. There were a number of accomplishments in the quarter, such as strong momentum in several relatively new areas of noninterest income, as well as commendable balance sheet growth and excellent asset quality.

M&F Bancorp, Inc. Announces Second Quarter 2022 Results and Quarterly Cash Dividend

August 3, 2022 – DURHAM, N.C.– M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), the parent company of M&F Bank (“Bank”), announced unaudited financial results for the second quarter of 2022 and a quarterly cash common dividend of $0.03 per share.

James H. Sills III, President and CEO of the Company, commented, “We are pleased with the financial results through the first six months of the year. All of our metrics, ratios and total asset growth numbers continue to improve. At the end of the second quarter, we were extremely pleased to receive $80 million in new capital from the U.S. Treasury Emergency Capital Investment Program…

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