Sunday, Oct 23, 2016
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MBT posts profit of $1.4M in 3rd quarter

MONROE — MBT Financial Corp., parent of Monroe Bank & Trust, reported a third-quarter profit of $1.4 million on Monday, more than double what the bank made in the same period last year.

On a per-share basis, the bank earned 8 cents. Net interest income was $8.6 million for the quarter, down about $200,000 from last year.

Though the bank said the economy continues to improve, there was an increase last quarter in nonperforming and problem loans. The bank said nonaccrual loans increased by $4.3 million in the third quarter, though nonaccrual loans are down $13 million, or 23 percent, compared to a year ago.

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