First M&F Reduces TARP Dividend

First M&F Corp.

reported today that it has received certification by the U.S. Treasury Department as a Community Development Financial Institution. By receiving certification as a CDFI, M&F was able to reduce its TARP dividend rate. In so doing, M&F deepens its 120 year commitment to Main Street and its Target Market. "These events will benefit M&F markets and the Company," said Hugh S. Potts, Jr. Mr. Potts commented further, "We believe this action will enhance community development, speed up local economic recovery and make for a brighter future." The lower-cost capital provides support to banks such as M&F that lend to small businesses and families in underserved communities.