2.4.0.82115100 - Disclosure - Variable Interest Entitiestruefalsefalse1falsefalsefalseD2013Q2YTDhttp://www.sec.gov/CIK0000320387duration2013-01-01T00:00:002013-06-30T00:00:001true1fmfc_VariableInterestEntitiesAbstractfmfc_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2fmfc_ConsolidationOfVariableInterestEntitiesDisclosureTextBlockfmfc_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Variable Interest Entities</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">In February 2006, the Company issued $</font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">30.928 million</font><font style="font-family:inherit;font-size:9pt;"> in fixed/floating rate junior subordinated deferrable interest debentures to First M&F Statutory Trust I. The Company received $</font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">30.000 million</font><font style="font-family:inherit;font-size:9pt;"> in cash and $</font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">928 thousand</font><font style="font-family:inherit;font-size:9pt;"> of common securities from the Trust. The debentures mature in March 2036, and interest is payable quarterly. The subordinated debentures are redeemable at par. The subordinated debentures are the only asset of the Trust. The Trust issued $</font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">30.000 million</font><font style="font-family:inherit;font-size:9pt;"> in capital securities through a placement and issued $</font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">928 thousand</font><font style="font-family:inherit;font-size:9pt;"> of common securities to the Company.</font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">First M&F Statutory Trust I, which is a wholly owned financing subsidiary of the Company for regulatory and legal purposes, is a variable interest entity. A determination has been made that the Company, since its equity interest is not at risk, is not the primary beneficiary and therefore, the Trust is not consolidated with the Company’s financial statements.</font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">The Company is involved as a limited partner in </font><font style="font-family:inherit;font-size:9pt;">two</font><font style="font-family:inherit;font-size:9pt;"> low income housing tax credit entities. The Company has determined that it is not the primary beneficiary of these partnerships because it does not have the power to direct the activities of the entity – primarily construction, renovation and property management – that most significantly impact the entity’s economic performance. The Company had a total investment and a total exposure of $</font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">2.064 million</font><font style="font-family:inherit;font-size:9pt;"> in these entities at </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">June 30, 2013</font><font style="font-family:inherit;font-size:9pt;"> and $</font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">2.208 million</font><font style="font-family:inherit;font-size:9pt;"> at </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">December 31, 2012</font><font style="font-family:inherit;font-size:9pt;">. The low income housing tax credit partnership investments are evaluated for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable.</font></div></div>falsefalsefalsenonnum:textBlockItemTypenaConsolidation Of Variable Interest Entities Disclosure[Text Block]No definition available.false0falseVariable Interest EntitiesUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.mfbank.com/role/VariableInterestEntities12