Exhibit 24

                               POWERS OF ATTORNEY

        WITNESSETH, that each of the undersigned directors or officers of
MOUNTAINBANK FINANCIAL CORPORATION ("MFC"), a North Carolina corporation, by his
or her execution hereof, hereby constitutes and appoints each of J. W. DAVIS and
GREGORY L. GIBSON, or any substitute appointed by either of them, jointly and
severally, as his or her true and lawful attorney-in-fact and agent for him or
her, and in his or her name, place, and stead, to execute and sign Registration
Statements on Form S-8 or other appropriate form to be filed by MFC with the
Securities and Exchange Commission (the "Commission") pursuant to the Securities
Act of 1933, as amended, with respect to the offer and issuance of shares of
MFC's common stock to directors, officers and employees of MFC and its
subsidiaries pursuant to MFC's 1997 Director Stock Option Plan and 1997 Employee
Stock Option Plan; and, further, to execute and sign any and all pre-effective
and post-effective amendments to such Registration Statements, and file all of
the same, together with all exhibits and schedules thereto and all other
documents in connection therewith, with the Commission and with such state
securities authorities as may be appropriate, granting unto each said
attorney-in-fact full power and authority to do and perform each and every act
and thing requisite and necessary to be done in and about the premises, as fully
and to all intents and purposes as the undersigned might or could do in person,
and hereby ratifying and confirming all the acts of each said attorney-in-fact
and agent which they may lawfully do in the premises or cause to be done by
virtue hereof.




           Signature                                 Title                            Date
- ------------------------------------        -----------------------------       -----------------
                                                                          
     /S/ J. W. Davis                        President, Chief Executive          November 19, 2001
- -----------------------------------         Officer and Director
         J. W. Davis                        (principal executive officer)



     /S/ Gregory L. Gibson                  Chief Financial Officer             November 19, 2001
- -----------------------------------         (principal financial and
         Gregory L. Gibson                  accounting officer)



     /S/ William H. Burton III              Director                            November 19, 2001
- -----------------------------------
         William H. Burton III


     /S/ Kenneth C. Feagin                  Director                            November 19, 2001
- -----------------------------------
         Kenneth C. Feagin


     /S/ Danny L. Ford                      Director                            November 19, 2001
- -----------------------------------
         Danny L. Ford





                                                                   
    /S/ J. Edward Jones                            Director              November 19, 2001
- ----------------------------------------
        J. Edward Jones

    /S/ Ronald R. Lamb                             Director              November 19, 2001
- ----------------------------------------
        Ronald R. Lamb

    /S/ H. Steve McManus                           Director              November 19, 2001
- ----------------------------------------
        H. Steve McManus

    /S/ Catherine A. Schroader                     Director              November 19, 2001
- ----------------------------------------
        Catherine A. Schroader

    /S/ Maurice A. Scott                           Director              November 19, 2001
- ----------------------------------------
        Maurice A. Scott