Saturday, November 28, 2015
Current Weather
Loading Current Weather....
Published: Saturday, 4/27/2013 - Updated: 2 years ago

MBT Financial’s profit at $1.1M for 1st quarter


MONROE — MBT Financial Corp., parent of Monroe Bank & Trust, posted a first-quarter profit of $1.1 million, down about 8 percent from the same period last year. On a per-share basis, the company earned 6 cents.

The company said net interest income fell about 10 percent on a lower interest margin. However, noninterest income rose more than 11 percent. Part of that was because of a 137 percent increase on origination fees for mortgage loans.

MBT expects gains in earnings as economic conditions improve, said H. Douglas Chaffin, company president and chief executive. “Loan demand was not sufficient to replace payments, but our existing commercial loan pipeline remains strong compared to a year ago,” he said. “When loan growth resumes, it will help our net interest margin and net interest income improve also. We continue to have a solid deposit base, a very liquid balance sheet, and adequate capital, so we are well-positioned for increased lending activity."

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories