M&F Bancorp, Inc. Announces
Cash Dividend

March 9, 2020

M&F Bancorp, Inc. Announces Cash Dividend

DURHAM, N.C.– M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), the parent company of M&F Bank (“Bank”), announced that its Board of Directors has declared a cash dividend on its common stock of $0.06 per share payable on December 9, 2019 to shareholders of record as of November 29, 2019. James A. Stewart, Chairman of the Board, stated, “We are pleased to announce this dividend at the end of calendar year 2019.”

M&F Bancorp, Inc., a bank holding company headquartered in Durham, NC with assets of approximately $267 million as of September 30, 2019, is the parent company of M&F Bank. M&F Bank is a state-chartered commercial bank founded in 1907, and has operated continuously since 1908. With branch locations in Durham, Raleigh, Charlotte, Greensboro and Winston-Salem, NC, M&F Bank is one of only a few NC banks designated by the U.S. Treasury as a Community Development Financial Institution. Read full press release