Mechanics & Farmers Bank, Financial Information

About Mechanics & Farmers Bank

 Address:
116 West Parrish Street
Durham, NC
Durham County, North Carolina
 Established:
Mar 1908
 Number of domestic offices:
8
Total assets$309M
Net income$1M
Net income, quarterly$1M
Total deposits$280M
Domestic deposits$280M
Equity capital$23M
ROA0.42%
ROAQ, quarterly1.02%
ROA, pretax1.02%
ROAQ, quarterly, pretax1.34%
ROE5.31%
ROEQ, quarterly13.79%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

Mechanics & Farmers Bank, a state-chartered commercial bank, was organized in 1907 under the authority of a charter issued by the Legislature of the State of North Carolina. The original incorporators were a group of nine prominent businessmen, headed by R. B. Fitzgerald.

Many people today lack appreciation of the origin of the Bank's name. The founders and original customers represented various trades, crafts and professions in which the African American community had achieved success and prominence, so "Mechanics" likely was derived from the legal term "mechanics lien" that grouped such occupations together. Additionally, most of North Carolina 's wealth at the turn of the 20 th century was based on the ownership of real property, especially farmland, hence the term "Farmers." That means the name "Mechanics and Farmers" denotes that this Bank is an institution dedicated to serving all facets of the community.

Mechanics & Farmers Bank offers Checking Accounts, Savings/Investment/CDs, Credit Services, Mortgage Services.

Charlotte Branch
101 Beatties Ford Road
Charlotte, NC 28216
(704) 332-2121

Durham Branch
116 W. Parrish Street
Durham, NC 27701
(919) 687-7803

Durham Branch
2705 Durham-Chapel Hill Boulevard
Durham, NC 27707
(919) 687-7811

Raleigh Branch
13 East Hargett Street
Raleigh, NC 27601
(919) 821-4611

Raleigh Branch
1824 Rock Quarry Road
Raleigh, NC 27610
(919) 832-8391

Piedmont Triad
770 Martin Luther King, Jr. Boulevard
Winston-Salem, NC 27101
(336) 722-0200

Piedmont Triad
100 South Murrow Boulevard
Greensboro, NC 27401
(336) 373-8500