MBT Financial Corporation Consent Order Terminated by Regulators

MBT Financial Corporation Consent Order Terminated by Regulators

  • Posted: 07/3/2014
  • Castle Creek

MONROE, Mich.–(GLOBE NEWSWIRE)–Monroe Bank & Trust, the wholly-owned banking subsidiary of MBT Financial Corp (Nasdaq:MBTF), recently received notification from the Federal Deposit Insurance Corporation and the Michigan Department of Insurance and Financial Services that the Consent Order it has been operating under since July 12, 2010 was terminated effective June 30, 2014. President and CEO Doug Chaffin commented, “We are very pleased with the termination of the Consent Order, as it reflects the considerable effort by our Board, officers, and staff to improve asset quality and earnings. In addition, our recently successful capital raise allowed us to complete the remaining stipulation under the Consent Order. We remain confident of our outlook for the future, and have demonstrated this confidence with the recent opening of our new Mortgage Center at 11 Washington Street in downtown Monroe. In addition, the establishment of our new Loan Production and Wealth Management office in downtown Tecumseh represents a milestone as our first official entry into the Lenawee County market. We remain the premier community bank in our area, and we are proud of our record of service to our communities in both Monroe and Wayne Counties. We intend to bring this tradition of quality with a strong customer focus to Lenawee County as well.”

Follow this link to continue reading this press release