M&F Bank in Durham, N.C., has named James H. Sills III as its president and chief executive.

He currently serves as secretary of the Delaware Department of Technology and Information, where he oversees IT services and technology investments for state agencies. He also serves as the state's chief information officer.

He was appointed in January 2009 by Delaware Governor Jack Markell.

"The future of community banking is in the technology arena, and Jim has been driving innovation at the intersection of banking and IT for more than 20 years," James A. Stewart, M&F's chairman, said in a press release Monday.

Sills has a background in community banking. He previously served as president of the $623 million-asset Memphis First Community Bank, now known as Landmark Bank, in Collierville, Tenn. He also served as chief operating officer at the $58 million-asset First Tuskegee Bank in Alabama.

Additionally, he was an executive vice president at the $7.5 billion-asset MNBA America Bank in Wilmington, which was acquired by Bank of America in 2006.

Sills' appointment at the $300 million-asset M&F will take effect on Sep. 1. He will replace Kim Saunders, the bank's current CEO, who plans to step down on Aug. 31. James Sansom, the bank's interim president, will resume his role as the M&F's chief lending officer.

M&F was founded in 1907 with a focus on serving the African-American community.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.