M&F BANK APPOINTS JAMES H. SILLS III AS
PRESIDENT AND CEO
Banking Veteran Has Strong roots in
north carolina
DURHAM, NC - Mechanics and Farmers
Bank (M &F Bank), the wholly owned
subsidiary of M
&F Bancorp,
Inc., a one-bank
holding company
headquartered
in Durham,
North Carolina,
announced
August 11 that
following a
national search,
James H. Sills III
will lead the bank
as president and
chief executive
officer effective
September 1,
2014.
Sills leaves his
appointed position of Secretary of the
Department of Technology and Chief
Information Officer for the State of
Delaware to serve as the president and
CEO of
both M
&F Bank
and M &F
Bancorp,
Inc. Kim
Saunders,
president
and CEO
of M &F
Bancorp,
Inc., will
step down
from her
post on
August 31,
and James
Sansom, interim president of M &F Bank,
will continue on in his role as chief lending
officer.
In 2009, Sills was appointed by
Delaware Gov. Jack Markell to his
Cabinet. In this role, he oversaw the
department’s information technology
budget, implemented numerous
enterprise technology projects and led
the department’s Technology Investment
Council in executing IT governance and
consolidation initiatives for the State of
Delaware.
With the appointment of Sills, M &F
Bank aims to expand its connection and
service to the community in new ways
through enhanced online capabilities while
continuing to serve its legacy customers.
Founded more than 100 years ago, M &F
Bank holds great historical and cultural
significance in Durham. The original nine
incorporators were prominent businessmen
united by a common goal: to provide
African Americans in their community
with banking services that were largely
unavailable to them
in the early 20th
century. More than a
century later, M &F
Bank still embodies
its founding
principle of service
to the community.
It is committed not
only to meeting
the financial needs
of personal and
business customers,
but to supporting
underserved
communities
and promoting
community
development.
During her seven years of service as M
&F’s outgoing president and CEO, Kim
Saunders steered the bank as it fought
through and emerged victorious from the
financial crisis. “I am confident the new
leadership will continue the legacy of
success for the community and the great
people associated with M &F Bank,” said
Saunders.
Prior to his appointment to the Cabinet
of Gov. Markell, Sills served in multiple
senior leadership positions. Earlier in his
career, Sills served as chief operating
officer of First Tuskegee Bank and
also served as president and CEO of
Memphis First Community Bank (now
Landmark Bank). For five years, he served
as executive vice president of MBNA
America Bank/Technology Sector (now
Bank of America). Following this role, he
founded Homeland Security Verification,
LLC, a small employment verification
company, in 2007.
Sills has strong family ties to North
Carolina. His father was born and
raised in Wake County, and other family
members from the Henderson and
Louisburg area. Lastly, Sills’ grandmother
graduated from Shaw University.
Sills holds a bachelor’s degree from
Morehouse College, a master’s degree in
public administration from the University
of Pittsburgh and a graduate degree
in retail bank management from the
University of Wisconsin. He serves as
chairman of the Delaware Technology
Investment Council and is an executive
committee member of the National
Association of State CIOs. Jim Sills is
married to Launice Sills and they have
three adult daughters.
www.spectacularmag.com | September 2014 | SPECTACULAR MAGAZINE
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