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.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.