Mechanics and Farmers Bank founded in 1907 recently celebrated its 100th year by hosting a birthday celebration at its corporate headquarters located in Durham, North Carolina. The organization is a state chartered commercial bank. Mechanics and Farmers Bank was original incorporated by a group of nine prominent businessmen lead by R.B. Fitzgerald. The other incorporators included: J.A. Dodson, J.D. Hawkins, John Merrick, Aaron M. Moore, W. G. Pearson, James E. Shepherd, W. G. Stephens and Stanford L. Warren. Mechanics and Farmers Bancorp, Inc, Chairman, Maceo Sloan, gave a brief historical assessment with the following information. “For the past one-hundred years, Mechanics and Farmers is the only bank in North Carolina that has never had a losing year. It did not close or lay anyone off during the great depression.” Bancorp, Inc,  is the parent company of the Mechanics and Farmers Bank.

Aaron Spaulding, a major stockholder and active board member also made an appearance at the 100th year anniversary event. Although he owns a travel agency in Raleigh, Mr. Spaulding stated that he “still spends a great majority of his time in Durham, while thanking Mechanics and Farmers for being a intricate part of that experience.”

According to corporate documents “Many people today lack appreciation of the origin of the Bank’s name. The founders and original customers represented various trades, crafts and professions in which the African American community had achieved success and prominence, so “Mechanics” likely was derived from the legal term “mechanics lien” that grouped such occupations together. Additionally, most of North Carolina ’s wealth at the turn of the 20th century was based on the ownership of real property, especially farmland, therefore cultivating the term “Farmers.” That means the name “Mechanics and Farmers” denotes that this Bank was originally created to serve all facets of the community.

M&F Bank is a full-service commercial bank offering an array of business and consumer loans, checking accounts, certificates of deposit, money market investment and savings accounts, Internet banking and other products and services. M&F operates in (9) nine branches covering Durham, Raleigh, Charlotte and Winston-Salem, North Carolina.”

Dianne Pledger, President and CEO of the Hayti Heritage Center talked glowingly about Mechanics and Farmers existing as a mainstay in the community. Several M&F Bank board members are founders of Saint Joseph Historic Foundation, the parent company of the Hayti Heritage Center. Of course, M&F is the bank of choice for Saint Joseph and many other community organizations and businesses found in the area.

Mechanics and Farmers Bank continues to reach out to the community by providing Sponsorship contributions support in the following areas Education, Financial Literacy and Community Development.