M&F Bancorp Inc. announced that its Board of Directors approved a quarterly dividend of two and one half cents ($0.025) per share for the second quarter ended June 30, 2009. Each shareholder of record as of the close of business on July 9, 2009 is entitled to receive $0.025 for each share of common stock held at the close of business on this date. The payment date is July 16, 2009.

M&F Bancorp Inc. announced that at the AGM to be held on June 9, 2009 the shareholders to consider and vote upon a proposal to amend the Articles of Incorporation of the Corporation to eliminate preemptive rights for stockholders and to consider and vote upon a proposal to amend the Articles of Incorporation of the Corporation to change the authorized number of shares and classes of capital stock of the Corporation by establishing a class of preferred stock and to consider and vote upon a proposal to amend the Articles of Incorporation of the Corporation to change the authorized number of shares and classes of capital stock of the Corporation by increasing the number of authorized shares of common stock of the Corporation from five million (5,000,000) to ten million (10,000,000).

M&F Bancorp Inc., Annual General Meeting, May 20, 2010