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Published: Friday, 7/27/2007

MBT Financial returns to black

MONROE - MBT Financial Corp., which owns Monroe Bank & Trust, reported yesterday that it had a profit of $3.5 million, or 21 cents a share, for the second quarter, up from a loss of $3.6 million, or 21 cents a share, for the same period a year ago.

The Michigan company said interest rates and poor economic conditions in southeast Michigan have hindered the bank's growth. Net interest income was $10.7 million for the quarter, down from $11.2 million for the prior quarter, and assets were $1.52 billion, compared with $1.55 billion at the end of the first quarter.

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