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Published: Friday, 1/25/2013

MBT Financial posts $9M net profit for 2012

MONROE — MBT Financial Corp. posted a net profit of $9 million in 2012, the first time since 2008 the parent firm of Monroe Bank & Trust has recorded an annual profit.

On a per-share basis, MBT earned 52 cents in 2012. In 2011, the company lost $3.8 million, or 22 cents a share. MBT lost $11.9 million in 2010 and $33.2 million in 2009.

For the fourth quarter, MBT earned $6.1 million, or 36 cents per share. MBT said that included a $5 million benefit from a one-time tax change. That compares to a net profit of $431,000, or 2 cents per share, in the fourth quarter of 2011.

MBT said the fourth quarter was the sixth consecutive quarter with positive earnings.

“As the economic conditions continue to improve, we expect to see the improvements in our asset quality and earnings continue,” said H. Douglas Chaffin, MBT’s president and chief executive officer.

“Loan demand was not sufficient to replace payments, but our existing commercial loan pipeline remains strong compared to a year ago. When loan growth resumes, it will help our net interest margin and net interest income improve also.”

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