M&F Bancorp Inc. (MFBP)

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Mechanics and Farmers Bank seeks continued improvement

Jun. 05, 2013

DURHAM — The sun is rising, but it’s not quite up yet, said Kim Saunders, president and CEO of Durham-based Mechanics and Farmers Bank, in a report to shareholders at the bank’s annual meeting on Tuesday.

The past few years have been challenging, Saunders said, citing high unemployment rates in North Carolina where the bank operates, and among African Americans, which the bank predominately serves.

“Despite all of that, I am pleased, and we are blessed to be able to report, (that) the bank, since we opened our doors, (has continued its) century-plus record of profitability,” she said. “While down, (the profitability record) still remains unbroken.”

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http://www.heraldsun.com/business/x1134607624/Mechanics-and-Farmers-Bank-seeks-continued-improvement