Joined by R. Hawkins, they secured a charter from the North Carolina General Assembly to incorporate the Mechanics and Farmers Bank on February 25, 1907.

[1] The Mechanics and Farmers Bank began operations on August 1, 1908,[2] serving the public out of the North Carolina Mutual and Provident Association's headquarters[1] in Hayti, the black business district in Durham.

[4] The bank's stated policy was to provide "no large loans...to a few profiteers, but rather conservative sums to needy farmers and laborers.

"[5] Over time the Mechanics and Farmers Bank became heavily financially involved in the operations of the North Carolina Mutual and Provident Association[1] and loaned money to many other businesses in Hayti.

[9] Guided by its practice of making small loans, the bank lent money to customers for building homes and funding education, thus spurring further development of Durham's African-American middle class community.

[14] The institution played a key role in helping African-American businesses in Durham survive the subsequent Great Depression.

When Mechanics and Farmers Bank reopened, it was the first in the state to do so,[15] was not burdened by any legal restrictions, and was able to meet its financial obligations.