M&F Bancorp Grows Its Commitment to Supporting Underserved Communities

Mar 9, 2021

DURHAM, NC (March 9, 2021) — At a time when social unrest is present and many small businesses and individuals are being severely impacted by the effects of the COVID-19 pandemic, large banks are committing to investing in smaller minority deposit institutions (MDIs) in an effort to decrease the racial wealth gap and to help create a fair and inclusive society. At the moment, M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), parent company of M&F Bank, is the only minority bank to receive equity investments from the four largest banks in the U.S. M&F Bank, a wholly owned subsidiary of M&F Bancorp, Inc., intends to leverage this additional capital to grow its franchise and provide additional products and services to more efficiently serve its customers.