Mechanics & Farmers Bank
The Mechanics and Farmers 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 founders and original customers represented various trades, crafts and professions in which the African American community had achieved success and prominence. In 1999, the shareholders of M&F Bank approved the formation of M&F Bancorp, a one-bank holding company, to become the parent company of M&F Bank. M&F Bancorp has assets of approximately $246 million. Personal banking options include electronic services, checking accounts, savings accounts, investments, certificates of deposit, credit services, mortgage services, wealth management and trust services. Business banking options include wealth management, trust services, electronic services, credit, business checking accounts, business savings accounts and investment accounts. The Mechanics and Farmers Bank is located in Durham, N.C.
