Diversified Search Places M&F Bank President and CEO

PHILADELPHIA, Aug. 13, 2014 (GLOBE NEWSWIRE) -- Diversified Search, one of the nation's top ten executive search firms, has announced the placement of James H. Sills III as president and chief executive officer of 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. Effective September 1st, Mr. 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.

Prior to his appointment to the Cabinet of Gov. Markell, Mr. Sills served in multiple senior leadership positions. Earlier in his career, Mr. 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.

Mr. 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.

This search was led by Diversified Search President Dale E. Jones and Euris Belle, Managing Director in the firm's the Atlanta office. According to Mr. Jones, "We are pleased to be able to bring this national search to a successful conclusion. Mr. Sills' unique background and experience will undoubtedly serve Mechanics and Farmers Bank well."

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CONTACT: Stephen S. Morreale (215) 656-3592

Source: Diversified Search