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Published: Tuesday, 7/28/2009

Monroe Bank & Trust Financial reports quarterly loss of $5.4M

MONROE Declining real estate values in Monroe County hurt the bottom line of MBT Financial Corp., the parent firm of Monroe Bank & Trust, which Monday reported a second- quarter loss of $5.4 million, or 33 cents a share.

That compared to a profit of $1.7 million, or 11 cents a share, in the same quarter a year ago .

The company said it boosted its provision for loan losses to $8 million from $2.7 million a year ago, and that its net interest income totaled $10.2 million, down from $11.1 million for the second quarter of 2008.

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