M&F Bancorp Inc. (MFBP)

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Regarding Durham, I live about 30 minutes away. It has the grittiest reputation of towns/cities in the Triangle, but it is undergoing the most positive change. Real estate is cheap and appreciating, their downtown is undergoing revitalization and there's actually a lot to do there compared to 5-10 years ago. Because of the proximity to government/universities/RTP, the job market should continue to be positive. It's viewed as the upcoming, gentrifying place to be.

Raleigh and Charlotte are fine, while Winston-Salem and Greensboro are lagging due to their manufacturing and textile backgrounds.

My concern with MFBP is when they'll be able to redeem the preferred stock. The bank is healthy as-is, but the preferred shares seem to suck up a lot of the earnings power.