M&F Bank Enhances Customer Experience with New Collaborations

DURHAM, N.C.– April 25, 2022 –M&F Bank, the second-oldest African American-owned bank in the nation, today announced three new, independent collaborations with Zelle®, Fiserv. and JPMorgan Chase. The relationships deliver enhanced customer benefits by creating increased convenience and connectivity for thousands of customers.

Chairman and President’s Letter

To Our Fellow Shareholders:  2021 was the best year in the history of our organization!

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 fourth quarter of 2021 and a quarterly cash common dividend of $0.03 per share.

James H. Sills III, President and CEO of the Company, commented, “2021 was the best year in the history of the Company! We are extremely pleased that we exceeded net income, total assets, loan and deposit targets for the year. Additionally, 2021 marked four straight years…

U.S. Treasury program encourages Minority Depository Institutions (MDIs) to support small businesses and consumers in their communities.

DURHAM, N.C., Jan. 5, 2022 – M&F Bancorp, Inc. (“Company”) parent company of M&F Bank (“Bank”), the second-oldest African American-owned bank in the United States, announced today that it has been allocated $76 million from the U.S. Treasury as part of the Emergency Capital Investment Program (“ECIP”). This investment is expected to increase the capital of the Company to over $117 million. This investment is a testament to the strength of the franchise, health and soundness of the Company and its abilities to positively impact disadvantaged communities within its markets.

Insurance and Financial Services Expert to Support Continued Growth at M&F Bank

DURHAM, N.C., Dec. 20, 2021 – M&F Bank today announced the appointment of award-winning financial services professional, Emma Allen, to its Board of Directors. In this role, Allen will primarily support the organization’s mission and purpose by championing small business owners in the community, building awareness of M&F Bank and its offerings in local neighborhoods.

SALISBURY, N.C., Nov. 16, 2021 (GLOBE NEWSWIRE) — Food Lion, an omnichannel retailer serving towns and cities across 10 states, today announced a $50 million deposit supporting M&F Bank, the second-oldest minority-owned bank in the United States. M&F Bank has branches located in Durham, Raleigh, Charlotte, Greensboro and Winston-Salem, NC. The deposit will provide the bank with greater financial opportunities for the communities it serves including loans to small businesses, investments in technology and financial literacy programs.

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 third quarter of 2021 and a quarterly cash common dividend of $0.02 per share.

Third Quarter 2021 Highlights

• Basic and diluted earnings per common share of $0.44 for the three months ended September 30, 2021, up $0.28 from $0.16 for the same period in 2020; basic and diluted earnings per common share of $0.98 for the nine months ended September 30, 2021, up $0.83 from $0.15 for the same period in 2020

How this Durham bank aims to keep ‘wave of momentum’ from PPP, social justice movement

Aug 18, 2021, 7:00am EDT

After a year like no other, Durham based M&F Bank is “firing on all cylinders,” according to CEO Jim Sills. M&F, a historically Black-owned institution, was once at the center of what was called Black Wall Street in Durham. But it’s struggled to find relevance in recent years as big banks – from Wells Fargo (NYSE: WFC) to Bank of America (NYSE: BAC) – rack up market share in  the Triangle

DURHAM – M&F Bank is joining a new Citi Bank-led lending platform to help small-to-medium-sized businesses access loans of up to $10 million.

The North Carolina-based bank – the second oldest minority bank in the U.S. — is one of 18 banks chosen to join the Bridge built by Citi platform that aims to make the borrowing process “more equitable.”

Described as a “digital meeting place,” it allows borrowers and lenders to connect through a “simple online request.” They can also track the loan process in real-time.

“We are excited to be included,” James Sills, M&F Bank’s president and CEO, told WRAL TechWire. “The Bridge platform allows us to cast the net wider to lend beyond our five primary markets using technology.

RESEARCH TRIANGLE PARK, N.C., Aug. 31, 2021 /PRNewswire/ — ChannelAdvisor Corporation (NYSE: ECOM), a leading provider of cloud-based e-commerce solutions that enable brands and retailers to increase global sales, announced today that it has made a $3 million deposit at M&F Bank, a historic Durham-based community bank committed to personal and community development in North Carolina. Both companies are teaming up to help promote sustainable growth among local minority-owned businesses.

With this deposit, ChannelAdvisor recognizes M&F Bank’s long-standing mission to provide financial solutions, including commercial loan opportunities, for individuals and business owners in underserved communities. As the second-oldest Black-owned bank in the U.S., M&F Bank was the ideal financial institution for ChannelAdvisor’s deposit, which aims to bolster the inclusive recoveries of companies impacted by the ongoing pandemic.