Thursday, Jun 30, 2016
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Health Care REIT posts profit; MBT has loss

Health Care REIT, Inc. reported a second-quarter profit yesterday of $22.7 million, or 37 cents a share, up from a loss of $1.6 million, or 3 cents a share, for the same period last year.

The Toledo real-estate investment trust said revenues were $80 million, up 17 percent from $69 million a year ago. Its funds from operations, considered a common measure in the REIT industry, were $46 million after adjustment, or 74 cents a share, up from $38 million, or 70 cents a share, a year ago.

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MONROE - MBT Financial Corp. reported a second-quarter loss yesterday of $3.6 million, or 21 cents a share, down from a profit of $5.4 million, or 31 cents a share, for the same period last year. The company said the loss was from two credit-related charges and a write-down of investment securities.

The parent of Monroe Bank & Trust said net interest income was $5.2 million, down from $12.1 million a year ago, and assets were $1.6 billion, up from $1.58 billion a year earlier. Provisions for loan losses jumped by $6 million because of a single problem account.

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