11. Mechanics & Farmers Bank - Black Enterprise
Black Enterprise Magazine January-March 2019 Issue

Mechanics & Farmer Bank, a wholly-owned subsidiary of M&F Bancorp Inc., is the largest minority- and woman-owned bank in the U.S. As of December 2008, the bank’s assets totaled $270.3 million–up 21% from the previous year. The Durham-based bank was founded in 1907 by a group of nine prominent Durham businessmen including J. A. Dodson, J. R. Hawkins, John Merrick, Aaron M. Moore, W.G. Pearson, James E. Shepard, G. W. Stephens, and Stanford L. Warren.

In 2008, M&F Bank was named as minority banking partner of the Chrysler Minority Dealers Association (CMDA).

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Black Enterprise is a black-owned multimedia company. Since the 1970s, its flagship product Black Enterprise magazine has covered African-American businesses with a readership of 3.7 million.

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