MONROE, Mich., Jan. 29, 2009 (GLOBE NEWSWIRE) -- On January 29, 2009, the Board of Directors of MBT Financial Corp. (Nasdaq:MBTF) made the following announcement concerning membership and positions held by its Board of Directors:
* Extended the membership of Chairman William D. McIntyre, Jr. for another term. Mr. McIntyre has served as the company's Chairman for the past five years has agreed to continue in that capacity, extending his membership beyond the traditional retirement age of 73. * Appointed Michael J. Miller as Vice Chairman of the Board. Mr. Miller has served on the board since 2000 and currently serves as the Chairman of the Loan Review Committee and as a member of the Audit and Governance Committees. * Increased the membership of the Board from 11 to 12. Local businessman and shareholder Edwin L. Harwood has been appointed to fill the vacancy created by this increase.
H. Douglas Chaffin, President & CEO commented, "During these challenging economic times we feel that continuity of leadership is vital. We are very pleased that Chairman McIntyre has agreed to stand for election to continue in his capacity as Chairman through May of 2010. We also welcome Ed Harwood as the newest member to our Board. Mr. Harwood's extensive business background and financial expertise will provide a valuable resource for our entire Board. As our Board addresses the various challenges before our company, a stable, well-educated, and informed membership is paramount. Each of these actions taken by the Board speaks to its commitment to the long term strength of our company, and prudent governance practices."
About the Company
MBT Financial Corp. (Nasdaq:MBTF), a single bank holding company headquartered in Monroe, Michigan, is the parent company of Monroe Bank & Trust (MBT).
Founded in 1858, MBT is one of the largest full service community banks in southeast Michigan, with more than $1.5 billion in assets, offering personal and business products and services, and complete credit options. MBT's Wealth Management Group is one of the area's largest trust departments with over $800 million in assets under management. With 27 offices, 45 ATMs, PhoneLink telephone banking and eLink online banking, MBT prides itself on an incomparable level of service and access for its customers. Visit MBT's web site at www.MBandT.com.
The MBT Financial Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4214
Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, change in the financial and securities markets, including changes with respect to the market value of our financial assets, the availability of and costs associated with sources of liquidity, and the ability of the Company to resolve or dispose of problem loans. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.