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MBT FINANCIAL CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2019 10-Q, filed Aug 9, 2019. Its latest SEC filing is a 15-12G from Sep 13, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Provides checking and savings accounts, loans, and trust and wealth-management services to people, businesses, and communities in southern Michigan.

How Did They Make Money?

Earns interest income on loans and investments, alongside fees from wealth-management and deposit-account services.

FY2018 revenue

Who Were Their Customers?

Serves people, businesses, and communities in its market area with loan, deposit, and wealth-management services.

Did Revenues Turn Into Profits?

Yes. It kept 38 cents of every revenue dollar as net income in FY2018 and turned 53 cents into free cash flow.

Net income, FY2018
38% of revenue
▲ +67% vs FY2017 ($10.6M, 25%)
Free cash flow, FY2018
53% of revenue
▲ +44% vs FY2017 ($17M, 41%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q2 FY2019, the three months to Jun 30, 2019
Revenue
▲ +10%
vs $11.3M in Q2 FY2018
Net income
▲ +28%
vs $4.9M in Q2 FY2018
  • Sep 3, 2019 MBT completed its merger with First Merchants MBT common stock was removed from Nasdaq listing following the merger.

Grew. Revenue grew 20% in 4 years, from $38.5M in FY2014 to $46.3M in FY2018, about 5% a year.

Who Did They Compete With?

Competes with Huntington National Bank, Fifth Third Bank, JP Morgan Chase Bank, and Comerica Bank

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