M&F Bancorp, Inc. Announces First Quarter 2019 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 2019 today.
James H. Sills III, President and CEO of the Company, commented, “We continue to make progress to improve the overall earnings profile of the Company. This is the fourth consecutive quarter of positive earnings. Overall, we had positive increases in asset, loan and deposit growth. We now have a loan portfolio with a 72.53% loan to deposit ratio vs 68.60% from one year ago, which is contributing to increased earnings for the Company. Loans grew slightly by approximately $1.2 million or .64% to $175.6 million at March 31, 2019 from $174.4 million as of December 31, 2018. Deposits increased 3.89% or $9.1 million to $242.1 million as of March 31, 2019 from $233.0 million as of December 31, 2018. Increases in total deposits were…
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