John Hope Franklin, Julia W. Taylor Given First Mechanics and Farmers Bank Founders Award

The annual award recognizes individuals or entities that embody what the Bank calls its Founding Principles as exemplified by the men who established M&F Bank in 1907 because, according to Kim D. Saunders, President and CEO, "102 years later, the Bank stands on, and in many ways, because of these very principles. The Founders Award was created to honor, and maintain a connection to, the rich heritage of this historic institution." In describing the selection of the first persons to receive the award, Saunders said the selection committee enthusiastically and unanimously confirmed the two individuals "because of what their belief in M&F has meant over the years, and because they both were guided by the same attributes that shaped the destinies of the Bank's founders."

"Dr. Franklin was a scholar of the first magnitude who made an indelible mark in his field, and his long-standing support of M&F's business goals and legacy has been enormously gratifying. It is poetically fitting and appropriate, as the celebrations of our legacy and of Dr. Franklin's life converge, that a history-making bank should honor the preeminent historian of our time," said Saunders. John Whittington Franklin, Dr. Franklin's son, expressed the family's appreciation as he accepted the award in his father's name, and then charmed the audience of approximately 240 with reminiscences about his father's dedication and creativity in the face of challenges he faced during his illustrious career.

Julia W. Taylor, who headed M&F Bank for 17 years, was recognized as a trailblazer who "embodied dignified, graceful leadership and created leadership opportunities for other women officers along the way." Taylor thanked the audience, saying she "never thought about being 'the woman' in the job, I just focused on doing the job." Saunders stated, "It is only right that we thank and applaud Julia Taylor for many her contributions to the success of our first 100 years. Her influence is still widely felt today, and I am humbled to follow in her footsteps."

M&F Bank is a state-chartered commercial bank founded in 1907, and has operated continuously and profitably since 1908. M&F Bank is one of few NC bank designated by the United States Treasury as a Community Development Financial Institution. Its vision is to be the preferred community bank in its markets. M&F Bank is the wholly owned subsidiary of M&F Bancorp, Inc., a one-bank holding company headquartered in Durham, NC, with assets of approximately $260 million as of March 31, 2009. M&F Bancorp's common stock is quoted in the over-the-counter market through the OTC Bulletin Board under the symbol "MFBP." For additional information contact M&F Bancorp Corporate Headquarters, 2634 Durham Chapel Hill Blvd., Durham, NC at (919) 687-7800 or visit www.mfbonline.com

SOURCE: M&F Bancorp, Inc.

M&F Bancorp, Inc. 
Kim D. Saunders, President/CEO 
919-687-7800 ext. 816 
kim.saunders@mfbonline.com