The corporate parent of M&F Bank posted improved net income in the third quarter.
The Durham-based bank, formerly Mechanics & Farmers Bank, reported net income of $217,000, or 11 cents per share, up from $169,000, or 8 cents per share, a year ago.
Net interest income totaled $2.6 million, down slightly from $2.7 million a year ago.
Noninterest income fell 45 percent to $409,000 from a year ago, when the bank received a $355,000 Bank Enterprise Award from the U.S. Treasury.
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The bank set aside no provision for loan losses during the quarter, compared to a $50,000 provision a year ago.
After excluding dividends paid stemming from federal stimulus money the bank received in 2009, net income totaled $276,000, up from $228,000 a year ago.
M&F has seven branches across the state and $301.5 million in assets.