Mechanics and Farmers Bank
Mechanics and Farmers Bank was chartered in 1907 by a group of nine prominent black North Carolina businessmen who hoped to meet the needs of the state's underserved black community. Today, M&F Bank's employees carry on that tradition, providing quality service to all customers and promoting personal and community development with an attitude of appreciation and respect.
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In the late 19th and early 20th centuries, African Americans built a successful business community in Durham, North Carolina. Durham's Black Wall Street flourished, becoming home to some of the most influential minority-owned businesses in the country, including Mechanics and Farmers Bank, the second-oldest minority-owned bank in the United States. Today, black-owned businesses are continuing to thrive. According to the US Census Bureau's Survey of Business Owners, black-owned firms make up more than a quarter of all companies in Durham, nearly twice the percentage of black-owned firms in North Carolina as a whole.
The 109-year-old M & F Bank has long served as a catalyst for community economic development in Durham, North Carolina. Building off the bank's long-standing history, President & CEO James Sills discusses future opportunities for growth and diversification, positioning the bank to remain as an industry leader throughout the 21st century.
Durham-based M&F Bank has made the decision to de-list from the Nasdaq and withdraw its common stock from registration. In a securities filing Tuesday, the company said the decision came down to several factors, including the “significant cost” of filing periodic reports and complying with regulatory rules. According to the disclosure, the company will continue to publish “selected financial information” and quarterly earnings reports on its website.