M & F Bancorp Inc.

President/Chief Executive Officer of the Corporation and the Bank since February 2007. Previously, she was President/Chief Executive Officer of Consolidated Bank and Trust Company from December 2003 to February 2007. Director of the Bank since 2007.

Kim D. Saunders serves as President and Chief Executive Officer for the Company and the Bank, overseeing the day to day operations of the Bank. Ms. Saunders joined the Company in 2007. She previously served as President and Chief Executive Officer of Consolidated Bank and Trust Company from 2003 to 2007, and Executive Vice President and Chief Lending Officer for City First Bank from 1998 to 2003. Lyn Hittle serves as Senior Vice President and Chief Financial Officer for the Company and the Bank, overseeing the financial operations of the Company and the Bank. Ms. Hittle joined the Company in 2008, previous to which she was the Chief Accounting Officer of Capital Bank in Raleigh, NC from 2007 to 2008, Vice President Finance/Controller for Eos Airlines from 2006 to 2007, and Chief Financial Officer for Harrington Bank in Chapel Hill, NC from 2001 to 2005.

Retired from NC Mutual on December 31, 2007. Mr. Closs continues to serve NC Mutual on a consulting basis. Prior to his retirement, Mr. Closs was a Director and Executive Vice President of NC Mutual, and was associated with NC Mutual since 1983. Director of the Corporation since 2002. Director of the Bank since 2005.

In December 2008, Maceo K. Sloan was appointed Chairman of the College Retirement Equities Fund Board of Trustees. Also in December 2008, and as a consequence of the significant time commitment involved in fulfilling this new position and continuing to attend to his own firm's clients, he resigned as a director and as Chairman of the Board, and as a member of the Bank Board.