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| 8-K - PRESS RELEASE 8K COVER PAGE - M&F BANCORP INC /NC/ | coverpage8k.htm |
FOR
IMMEDIATE RELEASE – March 24, 2010
Contact:Lyn
Hittle, CFO
919.687.7800,
ext 547
Lyn.hittle@mfbonline.com
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M&F
Bancorp, Inc. Declares Dividend for 1st Quarter
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DURHAM,
N.C.--
M&F
Bancorp, Inc. (OTCBB: MFBP) a bank holding company headquartered in
Durham, NC, today announced that its Board of Directors approved a
quarterly dividend of one and three-quarter cents ($0.0175) per share for
the quarter ended March 31, 2010. Each shareholder of record as of the
close of business on April 2, 2010 is entitled to receive $0.0175 for each
share of common stock held at the close of business on this date. The
payment date is Friday, April 9, 2010.
James
A. Stewart, Chairman of the Board, stated “The Board of Directors of
M&F Bancorp is pleased to continue providing our common stockholders
with a dividend. We recognize that the dividend has been
lowered from previous levels, and appreciate the loyalty of our
stockholders, customers and staff as we take this step as part of our
long-term strategy to address intense competition and ongoing economic
challenges.”
M&F
Bancorp, Inc., a bank holding company headquartered in Durham, NC with
assets of approximately $274 million as of December 31, 2009, is the
parent company of Mechanics and Farmers Bank (“M&F Bank”). M&F
Bank is a state-chartered commercial bank founded in 1907, and has
operated continuously and profitably since 1908. With branch locations in
Durham, Raleigh, Charlotte, Greensboro and Winston-Salem, NC, M&F Bank
is one of only a few NC banks designated by the U.S. Treasury as a
Community Development Financial Institution.
This
release contains certain forward-looking statements with respect to the
financial condition, results of operations and business of M&F
Bancorp, Inc. (the “Company”) and M&F Bank. These forward-looking
statements involve risks and uncertainties and are based on the beliefs
and assumptions of management of the Company and M&F Bank and on the
information available to management at the time that these disclosures
were prepared. These statements can be identified by the use of words like
"expect," "anticipate," "estimate" and "believe," variations of these
words and other similar expressions. Readers should not place undue
reliance on forward-looking statements as a number of important factors
could cause actual results to differ materially from those in the
forward-looking statements. Neither the Company nor M&F Bank
undertakes an obligation to update any forward-looking statements.
Additional information is detailed in the Company's filings with the
Securities and Exchange Commission, and is available at www.sec.gov.
Source:
M&F Bancorp, Inc.
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