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): May 16, 2011

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 (919) 683-1521

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):

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

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

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

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

ITEM 2.02– RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 16, 2011, M&F Bancorp, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2011. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.

Pursuant to General Instruction B.2 of the Current Report on Form 8-K, the information in this Current Report on Form 8-K, including the press release appearing in Exhibit 99.1, is furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. Furthermore, the information in this Current Report on Form 8-K, including the press release appearing in Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933, as amended.

ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS

(c) Exhibits.

The following exhibits are filed herewith:

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	Press Release dated May 16, 2011.

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.
	/s/ Kim D. Saunders
	Kim D. Saunders
	President and Chief Executive Officer

Dated: May 16, 2011

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
99.1	Press Release dated May 16, 2011.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE – May 16, 2011

Contact:

Lyn Hittle, CFO

919.687.7800, ext 547

Lyn.hittle@mfbonline.com

M&F Bancorp, Inc. Announces March 31, 2011 results

Durham, NC - M&F Bancorp, Inc., parent company of Mechanics and Farmers Bank (“M&F Bank” or “the Bank”) today filed its quarterly report on Form 10-Q with the Securities and Exchange Commission. Total assets decreased $15.1 million during the quarter ended March 31, 2011 from the December 31, 2010 level, mainly due to expected cash flow needs of depositors in the Bank’s CDARS(r) program. During the quarter, the Bank increased its securities by a net of $2.8 million, while its loan portfolio decreased $3.9 million over the same period. Net income for the quarter ended March 31, 2011 before preferred stock dividends was $0.4 million, compared to $0.2 million for the quarter ended March 31, 2010. Net income available to common stockholders was $0.3 million for the quarter ended March 31, 2011 compared to $0.1 million for the prior year quarter, due, in part, to the savings in preferred stock dividends from the exchange of the preferred stock issued to the Treasury in August, 2010.

During the quarter ended March 31, 2011, M&F Bank experienced $0.2 million in recoveries of previously charged-off loans, which, combined with the decrease in loans outstanding, resulted in a recovery in the provision for loan losses. For the three months ended March 31, 2010, the provision expense was $0.2 million. Noninterest expenses increased $0.1 million in the three months ended March 31, 2011, when compared to the same period in 2010, mainly due to increased wage and benefit expenses for employees hired in the second, third and fourth quarters of 2010.

Ms. Kim Saunders, President and CEO, said “we continue to seek qualified borrowers and have developed a new loan promotion program that was announced during our reception in Greensboro on Friday, April 29, 2011. M&F Bank’s mission continues to be directed toward underserved borrowers and we look forward to bringing more customers into the M&F Bank fold in 2011.” Jim Stewart, Chairman of the Board of Directors echoed Ms. Saunders’ comments, indicating that the Board supports lending to small businesses throughout the Bank’s footprint. Mr. Stewart said “with the new loan promotion, and the Grand Opening celebration in Greensboro, we are especially hopeful that more customers will come from the Greensboro area. Bishop George Brooks, who is a member of our Board of Directors and our Directors’ Loan Committee and who resides in Greensboro, is very enthusiastic about expanding our reach in Greensboro.”

Ms. Saunders stated “in 2010 we have achieved 103 consecutive years of profitability, from the year we opened initially on Parrish Street in Durham in 1908. The Board, staff of M&F Bank, and I are honored to be entrusted with continuing this important legacy of service to our communities.”

This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of M&F Bancorp, Inc. (the “Company”) and M&F Bank. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management of the Company and M&F Bank and on the information available to management at the time that these disclosures were prepared. These statements can be identified by the use of words like “expect,” “anticipate,” “estimate” and “believe,” variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Neither the Company nor M&F Bank undertakes an obligation to update any forward-looking statements. Additional information is detailed in the Company’s filings with the Securities and Exchange Commission, and is available at www.sec.gov.

Source: M&F Bancorp, Inc.