Bailout Bank Bio: First M&F Corporation

May 26, 2009 | 2 min read | Print Article

First M&F Corporation is a holding company that engages in the banking business through its wholly owned subsidiary, Merchants and Farmers Bank of Kosciusko (the Bank). The Bank offers a range of commercial and consumer services at its main office and two branches in Kosciusko, and its branches within central and north Mississippi, including Ackerman, Bruce, Brandon, Canton, Cleveland, Clinton, Durant, Flowood, Grenada, Jackson, Madison, Olive Branch, Oxford, Pearl, Philadelphia, Ridgeland, Southaven, Starkville and Tupelo. The Bank also has banking locations in southwest Tennessee in Bells, Collierville, Cordova, Germantown and Memphis. The Bank also has banking locations in central Alabama in Birmingham, Chelsea, Columbiana, Inverness, Pelham and Wilsonville. The Bank also has banking locations in the Florida panhandle in Crestview and Niceville. The company was founded in 1890 and is based in Kosciusko, Mississippi.

In December the company announced that it was participating in the Treasury Department’s Capital Purchase Program. Under the program the company received $40 million in exchange for preferred stock.

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Bailout Bank Bio: First M&F Corporation (M&F Bank of Kosciusko)


Federal Equity Investment	$40 million
Total Revenue	$114.4 million (2008) $123.1 million (2007)
Net Income	$526 thousand (2008) $14.5 million (2007)
Number of Employees	548
Corporate Headquarters	Kosciusko, Mississippi
Business Sector	Bank
Officers and Directors	Potts, Hugh, Chairman of the Board, Chief Executive Officer Other Officers and Directors
Corporate Website	https://www.mfbank.com
Executive Compensation	First M&F Corporation (M&F Bank of Kosciusko)