Monroe bank posts 4th quarter profit for ’11

MONROE — MBT Financial Corp. posted a net profit of $431,000 — an increase of 2 cents a share — in the fourth quarter of 2011. The corporation is the parent firm of Monroe Bank & Trust.

For all of 2011, MBT reported a loss of $3.8 million, or 22 cents a share. In 2010, it lost $11.9 million, or 72 cents a share.

In the fourth quarter of 2010, it posted a loss of $7.5 million, or 44 cents a share.

“We are pleased to report a second consecutive profit this quarter, especially since the profitability is the direct result of the continued improvement in our asset quality,” President and Chief Executive Officer H. Douglas Chaffin said. “As the economic conditions continue to slowly improve, we will continue to see improvements in our asset quality and earnings. Loan demand is still slow, and the decrease in the loan portfolio caused a slight decrease in the net interest income compared to last year.”