M&F Bancorp, Inc. Announces First Quarter 2018 Results

DURHAM, N.C.– M&F Bancorp, Inc. (“Company”), the parent company of M&F Bank (“Bank”), announced unaudited financial results for the first quarter of 2018 today.  James H. Sills III, President and CEO of the Company, commented, “Aside from a $1.0 million charge-off on a nationally syndicated loan, which declared bankruptcy, 2018 has exceeded expectations. Loans grew by approximately $5.5 million or 3.55% to $159.0 million at March 31, 2018 from $153.6 million at December 31, 2017, while deposits grew $1.4 million or 0.59% to $231.8 million at March 31, 2018 from $230.4 million at December 31, 2017. Our service charge income increased by $31,000 or 8.99% during the first quarter compared to the comparable period of the prior year, while our noninterest expenses decreased by $102,000 or 4.09% over the same time horizon. Read full press release

You are now leaving M&F Bank

M&F Bank provides links to web sites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that web site. Once you link to another web site not maintained by M&F Bank, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.

You will be redirected to

Click the link above to continue or CANCEL