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Monroe Bank & Trust

Monroe Bank & Trust is a bank headquartered in Monroe, Michigan. It is a subsidiary of MBT Financial Corp., a bank holding company. It operates 20 branches, including 14 branches in Monroe County, Michigan and 6 branches in Wayne County, Michigan.

MBT Financial Corp.
Public company
Traded asNASDAQMBTF
Russell 2000 Index component
IndustryBanking
Founded1905; 113 years ago (1905)
HeadquartersMonroe, Michigan
Key people
Michael J. Miller , Chairman
H. Douglas Chaffin, President & CEO
John L. Skibski, CFO
Total assetsDecrease $1.347 billion (2017)
Total equityDecrease $0.132 billion (2017)
Number of employees
299 (2017)
Websitewww.mbandt.com
Footnotes / references
[1]

HistoryEdit

The bank was founded in 1905 as Monroe State Savings Bank.[1]

In 1940, it acquired Dansard Bank.[1]

In 1950, the bank opened its second location, a branch in Ida, Michigan.[1]

In 1968, the bank changed its name from "Monroe State Savings Bank" to "Monroe Bank & Trust".[1]

In 2001, the bank expanded into Wayne County, Michigan.

In October 2008, the bank acquired Main Street Bank of Northville, Michigan after it suffered from bank failure and was shut by regulators.[2]

In 2009, the bank declined to receive an investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program.[3]

On July 12, 2010, the bank entered into a consent order with the Federal Deposit Insurance Corporation as a result of trouble in its loan portfolio. The consent order was terminated on July 3, 2014.[4]

In June 2016, the company was added to the Russell 3000 Index and Russell 2000 Index.[5]

ReferencesEdit

  1. ^ a b c d e "MBT Financial Corp. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Monroe Bank & Trust Acquires All the Deposits of Main Street Bank, Northville, Michigan" (Press release). Federal Deposit Insurance Corporation. October 10, 2008.
  3. ^ "MBT Announces TARP/CPP Not Necessary" (Press release). GlobeNewswire. January 29, 2009.
  4. ^ "MBT Consent Order Terminated, Optimistic Outlook" (Press release). GlobeNewswire. July 3, 2014.
  5. ^ "MBT Added to Russell 2000 Index" (Press release). GlobeNewswire. June 27, 2016.

External linksEdit