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Mutual Community Savings shareholders approve merger with M&F Bank

Mutual Community Savings Bank has announced that its shareholders have approved the merger with and into M&F Bank.

The merger, which was announced in August 2007, is scheduled to be finalized no later than March 31, 2008.

William Bell, chairman of Mutual Community Savings Bank’s board of directors and the mayor of Durham, said: We believe this is a win-win solution for MCSB shareholders and customers, and ultimately for the community at large. We will now be positioned to serve more people as part of an organization with a larger footprint.