Replies to post #39 on M&F Bancorp Inc. (MFBP)

[Lazarus]

When I made this post the stock was trading at $3.70. I must have bought some then cuz my avg cost per share was $4.23 before my last fills.

So the stock has doubled.

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Why own BAC when you can own MFBP???

Bank of America Buys Stakes in 3 Minority-Focused Banks
Quote:
SNIP: "The three investments announced Monday bring Bank of America's total to 10 under the program. Other recipients include M&F Bancorp..."


and this --->
M&F Bank receives $18M in equity investments from 4 largest US banks

Quote:
SNIP: "At the moment, M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), parent company of M&F Bank, is the only minority bank to receive equity investments from the four largest banks in the U.S. M&F Bank, a wholly owned subsidiary of M&F Bancorp, Inc., intends to leverage this additional capital to grow its franchise and provide additional products and services to more efficiently serve its customers."

OTC PROFILE HERE

as you can see, market cap is around $15.5 million

HERE IS THEIR 2020 ANNUAL REPORT

Shareholder equity of $23,463,000 eoy.

Earnings of .52 per share on 2,032,031 shares outstanding

Book Value of ~ $11.54 per share.

I've been buying since the low $4's and recently added around $7.50

Their main challenge is prudent deployment of cash.