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M&F Bancorp, Inc. Announces First Quarter 2021 Results, and Issues Quarterly Dividend

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 first quarter of 2021 today.  James H. Sills III, President and CEO of the Company, commented, “The first quarter of 2021 was one of the best for the Company in many years. We are continuing to experience strong total asset and deposit growth. I am pleased to report that along with improved core earnings, the Company recently announced a $0.02 per share common stock cash dividend payable to shareholders in May 2021.

 

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M&F Bancorp, Inc. Announces Cash Dividend

DURHAM, NC (April 28, 2021) M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), the parent company of M&F Bank (“Bank”), announced that its Board of Directors has declared a cash dividend on its common stock of $0.02 per share payable on May 19, 2021 to shareholders of record as of May 10, 2021. James A. Stewart, Chairman of the Board, stated, “We are pleased to announce this dividend based on improved Company performance. Like most banks, we have been watchful of the economic effects of the COVID-19 pandemic, and we are greatly relieved that the worst fears of economic crisis were not realized.” The Company is a bank holding company headquartered in Durham, NC with assets of approximately $309 million as of December 31, 2020. The Bank is a state-chartered commercial bank founded in 1907, and has operated continuously since 1908. With branch locations in Durham, Raleigh, Charlotte, Greensboro and Winston-Salem, NC, M&F Bank is one of only a few NC banks designated by the U.S. Treasury as a Community Development Financial Institution.

 

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Why we need Black-owned banks

DURHAM, NC (Feb 1, 2021) — Black-owned community banks have a long history of serving Americans historically left out of the mainstream banking system. Many well-established community banks continue this legacy today, but one troubling trend has emerged in the past two decades: The number of Black-owned banks is steadily declining. How can the industry advocate for change to help these banks—and their customers—thrive?

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