Mechanics and Farmers Bank was born from a need for opportunity. At the turn of the 20th century, African Americans were navigating tremendous obstacles in the fight to participate in the economy. For African Americans, there were few opportunities to obtain financing for their business ventures or homes. There were equally few options to safely place money on deposit and earn interest with established banking institutions, so, the black community created their own.
M&F, a state-chartered commercial bank, was organized in 1907 under the authority of a charter issued by the Legislature of the State of North Carolina. The founders had a dream for their community. The nine businessmen — the pioneers — who became the original incorporators of the bank were successful and active community builders, and by the time M&F was chartered most of them had been involved in the establishment of numerous other institutions and organizations that formed the nucleus of a thriving business and residential district in Durham, anchored by what became known as Black Wall Street. These men were R. B. Fitzgerald, J. A. Dodson, J. R. Hawkins, John Merrick, Aaron M. Moore, W.G. Pearson, James E. Shepard, G. W. Stephens, and Stanford L. Warren.
The Bank’s mission is a commitment to promoting personal and community development and we remain true to these values. Helping individuals, businesses, and community institutions grown and develop are the philosophical tenets that inform our decisions and guide our actions