Current Report Filing (8-k)

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 20, 2015

 

 

 

M&F BANCORP, INC.

(Exact Name of Registrant as specified in its charter)

 

 

 

North Carolina		000-27307		56-1980549
(State or other jurisdiction of incorporation)		(Commission File No.)		(IRS Employer Identification No.)

 

2634 Durham Chapel Hill Boulevard, Durham, North Carolina 27707

(Address of principal executive offices)

 

Registrant’s telephone number, including area code [phone]

 

Not Applicable

(Former address of principal executive offices)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.

          

On July 20, 2015, the Board of Directors of M&F Bancorp, Inc. (the "Company") elected Patricia R. Healy to serve as a director of the Company. Ms. Healy will serve as a director of the Company until the Company’s 2016 Annual Meeting of Shareholders, or until her successor is elected and qualified, or her earlier removal, resignation, death or incapacity. Ms. Healy has not yet been appointed to serve on any board committees, but is expected to do so in the near future.

 

Ms. Healy has no familial relationships with any executive officer or director of the Company. Other than her election as a director of the Company, there have been no transactions, nor are there any currently proposed transactions, in which the Company has or is to be a participant and the amount involved exceeds $120,000 and in which Ms. Healy had or will have a direct or indirect material interest.

 

A copy of the Company's press release making these announcements is attached as Exhibit 99.1 and is incorporated by reference into this Item 5.02.

 

Item 9.01 - Financial Statements and Exhibits

 

(c) Exhibits.

 

The following exhibit is filed herewith: 

EXHIBIT NO.		DESCRIPTION OF EXHIBIT
99.1		Press Release dated July 22, 2015.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	M&F BANCORP, INC.
	By:		/s/James H. Sills, III
			James H. Sills, III
			President and Chief Executive Officer

 

 

 

Dated: July 21, 2015

 

EXHIBIT INDEX

 

Exhibit Number		Description of Exhibit
99.1		Press Release dated July 22, 2015.

 

 

 

 

FOR IMMEDIATE RELEASE: July 22, 2015	CONTACT:
	James H. Sills, III
	919.687.7800
	[e-mail]

 

Patricia R. Healy Joins Board of M&F Bancorp, Inc.

 

July 22, 2015 (Durham, NC) – M&F Bancorp, Inc. today announced that Patricia Healy has been elected to the Board of Directors of M&F Bancorp, Inc. Ms. Healy is the Managing Principal with the investment firm of Hyde Street Holdings, LLC (“Hyde Street Holdings”), located in Raleigh, NC.

 

“Ms. Healy brings considerable expertise in banking, finance, real estate and corporate governance. We are very pleased and honored to have a new Board member of her caliber supporting the work of M&F Bancorp, Inc.” said James A. Stewart, Chairman of the M&F Bancorp, Inc. and M&F Bank Boards of Directors.

At Hyde Street Holdings, Healy, Co-Founder and Managing Principal, has built and sold companies, valued, consulted and acquired all types of assets. Prior to Hyde Street Holdings, Healy was Co-Founder and CEO of the Hanford/Healy Companies, a valuation, consulting, asset management and investment management firm. She has also held various management and board positions with real estate and financial firms. “I look forward to working with M&F Bancorp, Inc. and assisting in any way possible to further its goals and objectives,” said Healy.

Healy is very active in the Raleigh community currently serving on the Governance Committee of ULI (Urban Land Institute) Triangle District Council and the Board of Catholic Charities (as incoming Board Development Chair). She has also served as the founding Chair of the Green Chair Project and has been on the Boards of the North Carolina Symphony, the Contemporary Art Museum and its Foundation, ArtSpace and Triangle Tomorrow.

Healy received her B.A. in History/Political Science from Tulane University in New Orleans, Louisiana and an MBA from Southern Methodist University in Dallas, Texas. In addition, she received a Master of Science in Management from The American Graduate School of International Management. Healy is a frequent speaker on the subjects of Governance and Leadership at National Association of Corporate Directors (“NACD”).

 

Ms. Healy and her husband, John, live with their beagle, Barclay, in the Oakwood neighborhood of Raleigh, N.C.

 

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M&F Bancorp, Inc., a one-bank holding company headquartered in Durham, NC, has assets of approximately $298 million as of March 31, 2015; Mechanics and Farmers Bank (M&F Bank) is its wholly owned subsidiary. 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 a few NC banks designated by the United States Treasury as a Community Development Financial Institution (CDFI). 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 [phone] or visit www.mfbonline.com