Mechanics and Farmers Bank

2634 Durham Chapel Hill Boulevard
Durham, NC 27707
919-687-7800
www.mfbonline.com
 
Mechanics and Farmers Bank (M&F Bank) is an independent bank committed to meeting the financial services needs of the communities they serve. Their motivated and dedicated employees will provide quality service to all customers, promoting personal and community development while continuing its tradition of serving those who historically have been underserved


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See Rates for: Checking | Savings | CD

Checking Accounts

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0.50%$25k-Prestige Gold Checking Account
0.25%$10k-Prestige Silver Checking Account
0.15%$1k-Commercial N.O.W. Accounts
0.15%$1k-Public Funds Commercial N.O.W. Accounts
0.10%$10k-N.O.W. Interest Checking Accounts

Savings Accounts

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0.60%$100-Fixed Rate IRA Savings
0.35%$25k-Money Market Investment
0.20%$1m-Savings Account

Certificates of Deposit

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1.85%$100k-60 Month Plus CD
1.65%$100k-48 - 59 Month CD
1.50%$100k-36 - 47 Month CD
1.00%$100k-24 - 35 Month CD
0.75%$100k-12 - 17 Month CD
0.75%$100k-18 - 23 Month CD
0.50%$100k-270-364 Days CD
0.45%$100k-180-269 Days CD
0.35%$100k-90 - 179 Days CD
0.30%$100k-7 - 31 Days CD
0.30%$100k-32 - 89 Days CD

Institution Statistics


FDIC Certificate #12266
BankRate ReportView
Year Established1908
Employees69
Primary RegulatorFDIC

Assets and Liabilities

Assets$280.61 million
Loans$204.73 million
Deposits$240.75 million
Equity Capital$32.91 million
Loan Loss Allowance$3.75 million
Unbacked Noncurrent Loans$9.48 million
Real Estate Owned$2.16 million

Historic Data - March 2009

Assets$259.42 million
Equity Capital$24.89 million
Loan Loss Allowance$3.75 million
Unbacked Noncurrent Loans$4.88 million
Real Estate Owned$1.19 million

Profit Margin - Quarterly

Net Interest Margin4.46%
Return on Assets0.41%
Return on Equity3.43%
Interest Income$3.38 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2010 Mechanics and Farmers Bank had $11.64 million in non-current loans and owned real-estate with $36.65 million in equity and loan loss allowances on hand to cover it. This gives Mechanics and Farmers Bank a Texas Ratio of 31.74% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Mechanics and Farmers Bank increased slightly from 21.17% as of March 31, 2009 to 31.74% as of March 31, 2010, resulting in a negative change of 49.95%. This indicates that the balance sheet and financial strength for Mechanics and Farmers Bank has declined slightly in recent periods.
Deposit Growth4
In the past year, Mechanics and Farmers Bank has increased it's total deposits by $17.37 million, resulting in 7.78% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Mechanics and Farmers Bank has shown is above average.
Capitalization3
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Mechanics and Farmers Bank has $280.61 million in assets with $36.65 million in equity, resulting in a capitalization level of 13.06%, which is average.
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