Black-owned bank in Durham to get $80M from U.S. Treasury

Written by on June 23, 2022

A Black-owned community bank in Durham is getting $80 million from the U.S. Treasury as part of a federal program designed to support small businesses.

Mechanics and Farmers — or M&F Bank — is the second-oldest Black-owned bank in the country.

The bank's President and CEO James Sills said the program requires the bank to lend $30 million per-year to borrowers deeply impacted by the pandemic.

"People recognize they have to support institutions like ours because we have the ability to provide that funding to help grow . . .

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