M&F Bancorp, Inc. to Receive $76 Million in Emergency Capital Investment Funds

Jan 28, 2022

U.S. Treasury program encourages Minority Depository Institutions (MDIs) to support small businesses and consumers in their communities.

DURHAM, N.C., Jan. 5, 2022 – M&F Bancorp, Inc. (“Company”) parent company of M&F Bank (“Bank”), the second-oldest African American-owned bank in the United States, announced today that it has been allocated $76 million from the U.S. Treasury as part of the Emergency Capital Investment Program (“ECIP”). This investment is expected to increase the capital of the Company to over $117 million. This investment is a testament to the strength of the franchise, health and soundness of the Company and its abilities to positively impact disadvantaged communities within its markets.