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March 1, 1962 - Mechanics & Farmers Bank, NC's first black run
bank, opens a branch on Beatties Ford Rd.
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| 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. | ||
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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. |  |
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The main office of Mechanics & Farmers Bank at 101 Beatties Ford Road. |
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