M&F Bancorp Inc. in Durham, N.C., said its second-quarter earnings rose 21% from the same period a year earlier, to $290,000.
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The $229 million-asset M&F, which issued its earnings report Monday, attributed the increase to a 19% jump in noninterest income, to $658,000.
Net interest income rose only 1% from a year earlier, to $2.3 million.
While provisions for loan losses were down slightly to $99,000, non-performing assets more than doubled over the last year to $5.3 million at the end of the second quarter.
