M&F Bancorp in North Carolina Hires Outsider as CFO

M&F Bancorp (MFBP) in Durham, N.C., has hired a bank consultant as its new chief financial officer.

The $305 million-asset company said in a regulatory filing Thursday that Randall Hall had taken on the post last week. He succeeded Lyn Hittle, who will retire in March.

Hall recently served as an independent advisor to banks with enforcement actions. He has been a CFO role at two Tennessee banks: Clayton Bank and Trust in Knoxville and the Bank of Asheville.

"Lyn Hittle has done an outstanding job for us, helping us to navigate some very difficult times," Kim Saunders, M&F's president and chief executive, said in a press release. "We are delighted to have an incoming CFO of Randy's caliber and background, and gratified that we will have this opportunity for a smooth transition period for him to benefit from Lyn's knowledge of the bank and the company."