M&F Bancorp Inc. (MFBP)

[56Chevy]

Thank You free_bee for posting the 10-Q.

A quick look at earnings reveals they're starting 2014 off much better than they did Q1 of 2013 wherein they lost ($49K).

Net income ---------------------------------------------------- $277K

Less preferred stock dividends and accretion------------ ($59K)

Net income (loss) available to common stockholders----- $ 218K

O/S: 2,031,337

$218K divided by 2,031,337 = 0.1073 or .11 cents @ share earnings.

.11 X 4 = .44 projected annualized earnings.

.44 X a standard/modest PE of 10 = $4.44

MV today is $4.75

The bank is definitely heading in the right direction...nothing great yet but this is encouraging. They need to continue to work on lowering their troubled assets..those remain way too high... I'm sure they know!

http://banktracker.investigativereportingworkshop.org/banks/georgia/jonesboro/heritage-bank/