Select Page

Our Mission

M&F Bank is a historic independent community bank committed to meeting the needs of a wide range of individuals and businesses within our markets, while providing unparalleled customer service with an above average return for our shareholders.

Our History


Mechanics and Farmers Bank was founded February 25. 1907.


The bank opened for business August 1908 at 112 W. Parrish St.


Merged with Fraternal Bank & Trust in 1921.


Expanded to Raleigh in 1923.


Became NC’s first lending institution to be certified by the FHA, and in the same year, the bank’s assets exceeded $1 million.


Expanded to Charlotte.

Mechanics and Farmers Bank was born from a need for opportunity. At the turn of the 20th century, African Americans were navigating tremendous obstacles in the fight to participate in the economy. For African Americans, there were few opportunities to obtain financing for their business ventures or homes. There were equally few options to safely place money on deposit and earn interest with established banking institutions, so, the black community created their own. M&F, 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 founders had a dream for their community. The nine businessmen — the pioneers — who became the original incorporators of the bank were successful and active community builders, and by the time M&F was chartered most of them had been involved in the establishment of numerous other institutions and organizations that formed the nucleus of a thriving business and residential district in Durham, anchored by what became known as Black Wall Street. These men were R. B. Fitzgerald, J. A. Dodson, J. R. Hawkins, John Merrick, Aaron M. Moore, W.G. Pearson, James E. Shepard, G. W. Stephens, and Stanford L. WarrenThe Bank’s mission is a commitment to promoting personal and community development and we remain true to these values. Helping individuals, businesses, and community institutions grown and develop are the philosophical tenets that inform our decisions and guide our actions.


Expanded to Winston-Salem.


Assets exceeded $100 million.


Certified as a Community Development Financial Institution (CDFI).


Assets exceeded $200 million.


Celebrated 100th anniversary of the founding of the bank.

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

Raleigh City Advisory Board

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

Charlotte City Advisory Board

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

Durham City Advisory Board

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

Greensboro City Advisory Board

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

Winston-Salem City Advisory Board

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, Chairman
Tiffany Foggie
Michelle Haley
Charles Hands III
Marcus Howard
Wendell Jean-Joules
Alexes Johnson
Tasha LeeArchele Moore
Colton Palmer
Carlton Rowe
Brandon Winston

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.

Our commitment to providing capital to small and medium sized businesses is rooted in these values. Local business is beneficial to communities in ways that should not be ignored. Small business provides jobs for locals, keep dollars in the local economy, add vibrancy and uniqueness to communities, and help support local charities and causes. Research has shown that the economic state of a community is partially related to the amount of money spent in the businesses in that community. Therefore, by being a partner in helping these businesses grow and thrive, the effort could have a direct effect on the vitality of our neighborhoods.

“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 communities through you. So, tell us — What Are You Dreaming?