M&F Bancorp Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net income of $276,000 compared to $228,000 for the third quarter of 2014, an increase of $48,000. Net income available to common shareholders was $217,000 compared to $169,000 for the third quarter of 2014, an increase of $48,000. Diluted income per common share increased $0.03 to $0.11 the third quarter of 2015 compared to $0.08 in the third quarter of 2014. The company produced net interest income of $2.6 million which was down slightly from the $2.7 million generated for the same period of 2014.

For the nine months, the company reported net income of $425,000 compared to $1,013,000 for the same period of 2014, a decrease of $588,000. Net income available to common shareholders was $248,000 compared to $836,000 for the same period of 2014, a decrease of $588,000. Diluted income per common share decreased $0.29 to $0.12 compared to $0.41 in the same period of 2014. The company produced net interest income of $7.5 million, which was $455,000 lower than the $7.9 million generated for the same time in 2014. The decrease was primarily caused by lower interest income, which decreased $455,000 or approximately 5.4% to $8.0 million as compared to the same period of the prior year. Net income of $245,000, partially offset by preferred dividends and accretion of $177,000, also contributed to the overall increase in stockholders' equity.