What Are You Dreaming?

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.

“What are you dreaming?” is intended to spark a conversation in which our customers take the lead. We are here to listen to you. We want to know what your dream is 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 ommunities through you.

So tell us, What Are You Dreaming?


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
Dexter V. Perry
James H. Sills, III

M&F Bank Board of Directors
James A. Stewart, Chairman
Connie J. White, Vice Chairman
Willie T. Closs, Jr.
Michael L. Lawrence
Dexter V. Perry
Cedric L. Russell
James H. Sills, III

City Advisory Boards

Joseph M. Sansom, Chairman
Soberina Traywick, Secretary
Rev. Paul L. Anderson
Patricia R. “Trish” Healy
James H. Sills III, Ex Officio
Joselyn D. Williams


Walter Tucker, Chairman
Tanya Dial-Bethune, Secretary
Emma Allen
Dr. Jimmy R. Jenkins
James H. Sills III, Ex Officio
Lenny F. Springs
Gwendolyn Garnett
Yolanda Johnson
T. Michael Todd
Keva Walton
Malcolm Davis
Jacqueline D. McWilliams
Larry Broome
Rhonda Caldwell


Former Mayor William V. “Bill” Bell
Allen Chan
Dr. Eric Davis
Kenneth Gibbs
Bryan Scherich
James H. Sills III, Ex Officio
James Stewart
Pastor Andy Thompson


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


Cedric L. Russell
Bishop Todd Fulton
Evelyn Acree
Mike Coe
Former Mayor Martha Wood
Francisco Cámara Riess
Kathy Stitts
Maya A. Gilliam
Emma Allen
James H. Sills III, Ex Officio

Millennial Advisory Board
Warché K. Downing
Tiffany Foggie
Michelle Haley
Charles Hands III
Marcus Howard, Chairman
Donovan A. Livingston
Colton Palmer
Anthony McClenny

Our History

Much has been written about the value of history, and how to apply its lessons in the present:

“Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome.” Booker T. Washington

“If no use is made of the labors of past ages, the world must remain always in the infancy of knowledge.” Cicero

“The past is a source of knowledge, and the future is a source of hope. Love of the past implies faith in the future.” Stephen Ambrose

At Mechanics and Farmers Bank (M&F Bank), we know that the greatest value our past offers is not just as a historical record, it is the way our history lights the way for our future.

Our History

M&F Bank, 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 original incorporators were a group of nine prominent businessmen, headed by R. B. Fitzgerald. The other incorporators included: J. A. Dodson, J. R. Hawkins, John Merrick, Aaron M. Moore, W.G. Pearson, James E. Shepard, G. W. Stephens, and Stanford L. Warren.

Many people today lack appreciation of the origin of the Bank’s name. The founders and original customers represented various trades, crafts, and professions in which the African American community had achieved success and prominence, so “Mechanics” likely was derived from the legal term “mechanics lien” that grouped such occupations together. Additionally, most of North Carolina ‘s wealth at the turn of the 20th century was based on the ownership of real property, especially farmland, hence the term “Farmers.” That means the name “Mechanics and Farmers” denotes that this Bank is an institution dedicated to serving all facets of the community.

Our Mission

Mechanics and Farmers Bank (M&F Bank) is an independent bank committed to meeting the financial services needs of the communities we serve. Our motivated and dedicated employees will provide quality service to all customers, promoting personal and community development while continuing its tradition of serving those who historically have been underserved.

M&F Bank will be a profitable institution, providing a reasonable return to our shareholders while being a responsible employer dedicated to the professional and individual development of our employees.

independent bank – M&F Bank is not affiliated with another banking institution and even though the Bank has a Holding Company, it is not controlled by a major institution. Decisions are made within the organization and by its leadership.

financial services needs – primarily loan and deposit related products and services but including mortgage and home equity loans, commercial lines of credit, small business loans, demand deposit accounts, savings accounts, certificates of deposit, credit cards and debit cards, ATMs, electronic banking and financial advice.

communities – distinct geographic and demographic areas not overly distant from the Bank’s branches; people, businesses and organizations within these geographic areas that help define the area with financial needs that can be met by the Bank.

motivated employees – individuals employed by the Bank who are self starting, i.e., looking for the things that need to be done to meet the needs of customers, including internal customers (fellow employees)

dedicated employees – individuals employed by the Bank who put their full energy into completing their work assignments and working toward the Bank’s long-term objectives through serving customers and whose positive promotion of the Bank reflects in their behavior.

quality service – the manner in which the Bank’s products and services are delivered to all customers, including:

an attitude of appreciation and respect; focus on the task at hand and avoiding distractions that may delay completion or result in errors;
getting the job done correctly the first time, but acknowledging when an error is made, not making excuses about the error, and correcting it in a timely manner; and, meeting agreed upon times for completion.

personal development – providing services that lead individual customers to a better understanding of financial services products and services, how those products and services can enhance life style and value, and how to appropriately obtain and meet the obligations of being a user of financial services.

community development – providing financial and advisory services that aid small- and moderate-sized businesses and organizations that are committed to supporting and building the community in which they are located; advisory services include educating business owners and managers in understanding financial services products and services (particularly cash and credit management), how those products and services can enhance business growth and value, and how to appropriately obtain and meet the obligations of being a user of financial services.

tradition – recognition of the history of the Bank, and its founding as a minority-owned and operated institution established to meet the needs of people and communities that were not served at all or underserved by other institutions of the time; recognition of the role that M&F Bank has supporting economic development in the communities it serves.

underserved – people, small and entrepreneurial businesses, and organizations within the community that traditionally had and continue to have difficulty in obtaining financial services because of community location and reputation or because of an inability to establish a financial history that would lead to easily obtained financial services.

professional development – M&F Bank offers opportunities for its employees to increase their knowledge and skills in the areas of their current job responsibilities; the Bank also offers cross-training and internal advancement opportunities to its employees

individual development – M&F Bank recognizes its obligation to its employees to provide opportunities to improve personally, as well as in their jobs; M&F Bank recognizes the need for its employees to be able to be fully engaged with their families and in community activities.

profitable institution – M&F Bank’s business results will generate a profit in order to grow, to continue its activities, to provide for its employees, and to provide a return to its investors.

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