1962 - M & F Bank Opens

March 1, 1962 - M & F Bank, NC's first black run bank, opens a branch at 101 Beatties Ford Rd.

• When Mechanics & Farmers Bank opens on Beatties Ford Road, it is the first bank in Charlotte located in the black community and managed by African Americans.
• On its first day of operation, the new bank accepts $600,000 in deposits from businesses and individuals.
• Mechanics & Farmers Bank vice-president A.E. Spears watches as Charlotte mayor Stan Brookshire makes the new bank's first deposit of $100,000 of city money.