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Racial Justice Protests Prompt People To Move Their Money Into Black Banks
Netflix announced it is moving $100 million in deposits into Black-owned financial institutions to help close the racial wealth gap. As Black Lives Matter protests continue across the U.S., individuals, and companies are backing up their words with action by moving...
Bank credits big spike in deposits to drive for social justice
M&F Bank CEO credits nearly $30M spike in deposits to drive for social justice A heightened interest in social justice has meant a boost to a historically Black institution, M&F Bank, in Durham. CEO James Sills told TBJ he attributes it to an increase in deposits from...
M&F Bancorp, Inc. Announces Second Quarter 2020 Results
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 2020 today. James H. Sills III, President, and CEO of the Company commented, “During the...
North Carolina Bankers Association Announces Jim Sills as Vice Chairman
RALEIGH, N.C. – The North Carolina Bankers Association (NCBA) has announced its board of directors for the 2020-2021 term. Leading its new board, effective following the NCBA’s 124th Virtual Annual Convention on June 25, 2020, will be incoming chairman, Charles...
M&F Bancorp, Inc. Announces First Quarter 2020 Results
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 2020 today. James H. Sills III, President and CEO of the Company, commented, “We started...
The Paycheck Protection Program
On Friday, March 27, 2020, Congress passed the CARES Act aimed at providing economic relief due to the COVID-19 pandemic. The Paycheck Protection Program (PPP) is part of this legislation to provide financial support to small businesses and non-profits. The SBA...
Paycheck Protection Program (PPP) Loan Q&A
Who can get a loan?Businesses, including self-employed and independent contractors, Nonprofits (501 C3), veterans’ organizations (501 C19) and tribal business concerns, with less than 500 employees. Where do I apply?Any federally insured depository (bank or credit...
The Paycheck Protection Program
The Paycheck Protection Program, part of the new CARES stimulus package, is a federal loan program aimed at helping small businesses who have been severely impacted by Coronavirus. In addition to the Paycheck Protection Program loan, the U.S. Small Business...
M&F Bancorp, Inc. Announces Fourth Quarter and Annual 2019 Results
M&F Bancorp, Inc. Announces Fourth Quarter and Annual 2019 Results DURHAM, N.C.-- M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), the parent company of M&F Bank (“Bank”), announced consolidated financial results for the fourth quarter (unaudited) and full...
M&F Bank CEO Appointed to FDIC Advisory Subcommittee on MDIs
M&F Bank CEO Appointed to FDIC Advisory Subcommittee on MDIs James 'Jim' Sills, President and CEO of M&F Bank, and Kyle Chavis, CEO of Lumbee Guaranty Bank, were recently appointed to the Minority Depository Institutions (MDIs) subcommittee of the FDIC’s...
