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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) December 14, 1999
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M&F BANCORP, INC.
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(Exact name of registrant as specified in its charter)
North Carolina 0-27307 56-1980549
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification number)
2634 Chapel Hill Blvd., P.O. Box 1932, Durham, North Carolina 27702
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 919/683-1521
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ITEM 5. OTHER EVENTS.
On December 14, 1999, M&F Bancorp, Inc. announced that its Board of Directors
had authorized a 3-for-2 stock split of the Company's outstanding shares to be
accounted for as a 50% stock dividend. The news release regarding this event is
attached to this filing.
ITEM 7 - FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements - not applicable
(b) Pro forma financial information - not applicable
(c) Exhibit:
99. News Release issued by M&F Bancorp, Inc., dated December 14, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: December 22, 1999
M&F BANCORP, INC.
By: /s/ Julia W. Taylor
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Julia W. Taylor
Chairman, President and CEO
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EXHIBIT 99
NEWS RELEASE
M&F Bancorp, Inc. Announces 3-for-2 Stock Split
DURHAM, N.C., December 14, 1999 - M&F Bancorp, Inc. (OTC BB:MFBP.OB) today
announced that its Board of Directors has approved a 3-for-2 stock split of the
Company's outstanding shares of Common Stock. The stock split will be effected
in the form of stock dividend and will entitle each stockholder of record at the
close of business on December 14, 1999 to receive one additional share of the
Company's Common Stock for every two outstanding shares of Common Stock held by
each shareholder on the record date. The stock dividends resulting from the
split are expected to be distributed by the transfer agent on January 19, 2000.
M&F Bancorp, Inc. expects that its Common Stock will be trading on a
split-adjusted basis on January 20, 2000.
M&F Bancorp, Inc. with assets of approximately $150 million, is the parent of
Mechanics & Farmers Bank of Durham, North Carolina. The Corporation's Common
Stock trades on the over-the-counter Bulletin Board under the symbol MFBP.OB.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Statements in this news release looking forward in time involve risks and
uncertainties, including regulatory approvals, completion of the due diligence
process, success of acquiring new locations and integrating newly acquired
branches, additional expansion opportunities, the effect of changing economic
conditions, product demand, changes in the regulatory environment, and other
risk factors detailed in M&F Bancorp's Securities and Exchange Commission
filings.
