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Published: Tuesday, 4/28/2009

MBT Financial posts loss, cites bad loans

MONROE Bad loans produced a first-quarter loss for MBT Financial Corp., which owns Monroe Bank & Trust.

The company said Monday it lost $816,000, or 5 cents a share, in the January through March period because it boosted its provision for loan losses to $4.2 million from $1.2 million for the same period a year earlier. In the first quarter of 2008, the firm had a profit of $2.6 million, or 16 cents a share.

MBT also said its net interest income, a key measure of banking revenues, fell $240,000 to $10.2 million.

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