Mechanics & Farmers Bank in Durham, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Mechanics & Farmers Bank in Durham, North Carolina (NC)
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Mechanics & Farmers Bank - Overview

  • General
  • FDIC Certificate #: 12266
    Status: Active
    Federal Reserve ID: 332224
    Bank Holding Company (Regulatory Top Holder): M&F Bancorp, Inc. (RSSDID: 2807810, Location: Durham, NC)
    Date Established: March 01, 1908
    WWW: http://www.mfbonline.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 13322
    FDIC's unique #: 7798
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 28, 2008
    Last Structure Change Process Date: April 04, 2008
    Last Data Update: April 04, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 116 West Parrish Street, Durham, NC 27702
    County: Durham
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Raleigh
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Raleigh-Durham-Chapel Hill, NC (#6640)
    Combined Statistical Area (CSA): Raleigh-Durham-Cary, NC (#450)
    Core Based Statistical Area (CBSA): Durham-Chapel Hill, NC (#20500)
    CBSA Metro Statistical Area: Durham-Chapel Hill, NC (#20500)
  • History of Changes
  • Participated in Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $301.5 mil
    Equity capital: $33.9 mil
    Deposits held in domestic offices: $260.7 mil
    Return on assets (ROA): 0.23% ($0.7 mil)
    Quarterly return on assets: -0.04% (-$0.1 mil)
    Return on Equity (ROE): 2.03% ($0.7 mil)
    Quarterly return on equity: -0.38% (-$0.1 mil)
    Net income: $0.7 mil
    Quarterly Net income: -$0.0 mil
    Pretax return on assets: 0.29% ($874.2 mil)
    Quarterly Pretax return on assets: -0.16% (-$482.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 76Total employees (full-time equivalent)
  • $301,458Total assets
  • $61,296Cash and due from depository institutions
  • $59,120Interest-bearing balances
  • $37,595Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $182,361Net loans & leases
  • $3,789Loan loss allowance
  • $0Trading account assets
  • $4,663Bank premises and fixed assets
  • $3,069Other real estate owned
  • $46Goodwill and other intangibles
  • $301,458Life insurance assets
  • $12,428All other assets
  • $267,516Total liabilities and capital
  • $260,744Total liabilities
  • $210,364Total deposits
  • $260,744Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $1,015Trading liabilities
  • $0Other borrowed funds
  • $5,757Subordinated debt
  • $33,942All other liabilities
  • $33,942Total equity capital
  • $33,942Total bank equity capital
  • $0Perpetual preferred stock
  • $2,846Common stock
  • $13,143Surplus
  • $17,953Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $14,658Income earned, not collected on loans
  • $40Earning assets
  • $667Long-term assets (5+ years)
  • $279,076Average Assets, year-to-date
  • $52,582Average Assets, quarterly
  • $305,449Volatile liabilities
  • $302,542Insider loans
  • $190,266FHLB advances
  • $299,796Loans and leases held for sale
  • $5,768Unused loan commitments
  • $5,768Tier 1 (core) risk-based capital
  • $31,838Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $23,769Restructured Loans and leases
  • $2,577Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $12,340Total interest income
  • $1,315Total interest expense
  • $11,025Net interest income
  • $842Provision for loan and lease losses
  • $1,303Total noninterest income
  • $0Fiduciary activities
  • $842Service charges on deposit accounts
  • $0Trading account gains & fees
  • $461Additional noninterest income
  • $10,955Total noninterest expense
  • $5,549Salaries and employee benefits
  • $1,235Premises and equipment expense
  • $4,171Additional noninterest expense
  • $531Pre-tax net operating income
  • $340Securities gains (losses)
  • $180Applicable income taxes
  • $691Income before extraordinary items
  • $0Extraordinary gains - net
  • $691Net income attributable to bank
  • $0Net charge-offs
  • $691Cash dividends
  • $905Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.35%Yield on earning assets
  • 0.46%Cost of funding earning assets
  • 3.89%Net interest margin
  • 0.46%Noninterest income to earning assets
  • 3.86%Noninterest expense to earning assets
  • 0.14%Net operating income to assets
  • 0.23%Return on assets (ROA)
  • 0.29%Pretax return on assets
  • 2.03%Return on equity (ROE)
  • 2.03%Retained earnings to average equity (YTD only)
  • 0.46%Net charge-offs to loans
  • 93.04%Credit loss provision to net charge-offs
  • 1.52%Efficiency ratio
  • 88,863Assets per employee
  • 3.97%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.04%Loss allowance to noncurrent loans
  • 25.85%Noncurrent assets plus other real estate owned to assets
  • 5.88%Noncurrent loans to loans
  • 7.87%Net loans and leases to deposits
  • 69.94%Net loans and leases to core deposits
  • 118.00%Equity capital to assets
  • 11.26%Core capital (leverage) ratio
  • 10.62%Tier 1 risk-based capital ratio
  • 16.73%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $305,449Average earning assets
  • $34,019Average equity
  • $283,449Average loans

List of branches

  • 8 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07798Mechanics & Farmers Bank116 West Parrish Street, Durham, NC 27702March 01, 1908Full Service Brick and Mortar
    1226799Charlotte Branch101 Beatties Ford Road, Charlotte, NC 28208March 01, 1962Full Service Brick and Mortar
    2226800Chapel Hill Blvd Branch2705 Chapel Hill Blvd, Durham, NC 27707January 15, 1954Full Service Brick and Mortar
    4226802Raleigh Branch13 East Hargett Street, Raleigh, NC 27601January 06, 1923Full Service Brick and Mortar
    7226805Rock Quarry Road Branch1824 Rock Quarry Road, Raleigh, NC 27610June 23, 1977Full Service Brick and Mortar
    8226806Winston-Salem Branch770 M.L. King Blvd., Winston Salem, NC 27101September 19, 1981Full Service Brick and Mortar
    9357883M&F Bank Corporate Branch2634 Chapel Hill Blvd, Durham, NC 27707October 18, 1999Limited Service Administrative
    1314171100 South Murrow Boulevard Branch100 South Murrow Boulevard, Greensboro, NC 27401November 02, 1971Full Service Brick and Mortar

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