MBT Financial Corp. Announces First Quarter 2010 Profit

MONROE, Mich., April 22, 2010 (GLOBE NEWSWIRE) -- MBT Financial Corp.
(Nasdaq:MBTF), the parent company of Monroe Bank & Trust, reported a first
quarter 2010 net profit of $348,000, or $0.02 per share, basic and diluted,
compared to the loss of $1.4 million, or $0.08 per share in the first quarter of
2009.

The Net Interest Income for the first quarter of 2010 was $9.4 million, a
decrease of $808,000, or 7.9% compared to the same period in 2009. Although the
net interest margin increased from 3.04% in the first quarter of 2009 to 3.11%
in the first quarter of 2010, average earning assets decreased $143.8 million,
causing the decrease in net interest income. Average loans decreased $108.3
million, or 11.6%, as weak economic conditions, coupled with ongoing stringent
underwriting standards, continue to have a negative impact on loan demand and
growth.

Non interest income, excluding securities gains and impairment charges increased
from $3.5 million in the first quarter of 2009 to $3.7 million in the first
quarter of 2010. This was due to improvements in all revenue sources except
services charges on deposit accounts, which decreased due to lower overdraft
fees. Non Interest expenses decreased $1.1 million. The bank's efforts to
control expenses resulted in significant reductions in salaries, benefits, and
occupancy expenses.

Total assets of the bank decreased $104.2 million compared to March 31, 2009,
mainly due to the previously mentioned decrease in loan demand, and a strategic
initiative to reduce higher cost deposits and borrowings. Non interest bearing
demand deposits increased by 9.4% over the 12 month period, as the market
continues to demonstrate the value of our customer focused community bank model.
Total assets declined by only $1.8 million since the end of 2009. Due to the
small profit in the quarter, and the decrease in the unrealized loss on
investment securities available for sale, capital increased $2.1 million during
the quarter, and the ratio of equity to assets, a key indicator of bank strength
and safety, increased from 5.91% at December 31, 2009 to 6.07% at March 31,
2010. In addition, the company's liquidity position remains good, with cash and
investments totaling 31.8% of assets, up from 29.9% at the end of 2009.

H. Douglas Chaffin, President and CEO, commented, "The national economic
recovery is gaining strength, but the conditions in southeast Michigan are weak.
Local unemployment rates remain high and property values remain low. However, we
are beginning to see some signs of stability locally. Our total problem assets,
which include non performing loans, other real estate owned, non accrual
investments, and performing loans that are internally classified as potential
problems, only increased $4.2 million, or 2.7% compared to a year ago. Over the
same period, we increased our Allowance for Loan Losses $2.4 million, or 10.8%."

Mr. Chaffin concluded, "Although real estate values and unemployment rates in
our market have been stable for the third consecutive quarter, we do not
anticipate significant recovery in our local markets this year. We will continue
to focus our efforts on improving asset quality, maintaining liquidity,
strengthening capital, and controlling expenses. Our Board is currently
considering various options that might be available to raise additional capital
and we are seeking shareholder approval to authorize additional capital
securities at our Annual Meeting of Shareholders on May 6, 2010. While we are
pleased to report a small profit this quarter, we still have much work ahead of
us given our current environment."

Conference Call

MBT Financial Corp. will hold a conference call to discuss first quarter results
on Friday, April 23, at 10:00 a.m. Eastern Time. The call will be webcast and
can be accessed at the Investor Relations/Corporate Profile page of MBT
Financial Corp.'s web site www.mbandt.com. The call can also be accessed by
calling (800) 860-2442. The event will be archived on the Company's web site and
available for twelve months following the call.

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 community banks in Southeast
Michigan, with nearly $1.4 billion in assets. MBT is a full-service bank,
offering a complete range of business and personal accounts, credit options, and
phone and online banking services. MBT's Wealth Management Group is one of the
largest and most respected in Southeastern Michigan. With 25 offices, 41 ATMs,
and a comprehensive array of products and services, MBT prides itself in
offering an incomparable banking experience 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

Forward-Looking Statements

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.

MBT FINANCIAL CORP.

CONSOLIDATED FINANCIAL HIGHLIGHTS - UNAUDITED

Quarterly

====================================================================
2010 2009 2009
2009 2009
(dollars in thousands

except per share data) 1st Qtr 4th Qtr 3rd Qtr 2nd
Qtr 1st Qtr
------------ ------------ ------------
------------ ------------

EARNINGS

Net interest income $ 9,405 $ 10,101 $ 10,516 $
10,185 $ 10,213
FTE Net interest income $ 9,677 $ 10,417 $ 10,857 $
10,536 $ 10,565
Provision for loan and

lease losses $ 2,200 $ 17,000 $ 6,800 $
8,000 $ 4,200
Non-interest income $ 4,041 $ (40) $ 3,559 $
3,630 $ 3,331
Non-interest expense $ 10,898 $ 11,798 $ 11,390 $
14,589 $ 11,997
Net income (loss) $ 348 $ (25,112) $ (2,325) $
(5,373) $ (1,367)
Basic earnings (loss) per

share $ 0.02 $ (1.56) $ (0.14) $
(0.33) $ (0.08)
Diluted earnings (loss)

per share $ 0.02 $ (1.56) $ (0.14) $
(0.33) $ (0.08)
Average shares outstanding 16,216,177 16,204,139 16,192,914
16,182,528 16,165,841
Average diluted shares

outstanding 16,216,708 16,204,139 16,192,914
16,193,278 16,181,966

PERFORMANCE RATIOS

Return on average assets 0.10% -7.17% -0.64%
-1.48% -0.37%
Return on average common

equity 1.71% -90.17% -8.20%
-18.31% -4.53%

Base Margin 2.99% 3.08% 3.08%
3.00% 2.89%
FTE Adjustment 0.09% 0.10% 0.10%
0.10% 0.10%
Loan Fees 0.03% 0.04% 0.06%
0.04% 0.05%

FTE Net Interest Margin 3.11% 3.22% 3.24%
3.14% 3.04%
------------ ------------ ------------
------------ ------------

Efficiency ratio 67.75% 61.93% 61.90%
70.22% 69.70%
Full-time equivalent

employees 351 362 361
370 383

CAPITAL

Average equity to average

assets 6.03% 7.95% 7.84%
8.10% 8.09%
Book value per share $ 5.17 $ 5.04 $ 6.77 $
6.80 $ 7.18
Cash dividend per share $ -- $ -- $ -- $
0.01 $ 0.01

ASSET QUALITY

Loan Charge-Offs $ 2,362 $ 11,721 $ 12,364 $
6,334 $ 1,575

Loan Recoveries $ 211 $ 211 $ 262
$ 456 $ 600
============ ============ ============
============ ============
Net Charge-Offs $ 2,151 $ 11,510 $ 12,102 $
5,878 $ 975

Allowance for loan and

lease losses $ 24,112 $ 24,063 $ 18,573 $
23,875 $ 21,753

Nonaccrual Loans $ 61,722 $ 56,992 $ 62,038 $
61,917 $ 50,437
Loans 90 days past due $ 53 $ 20 $ 192
$ 300 $ 864

Restructured loans $ 28,042 $ 29,102 $ 14,359 $
7,552 $ 4,901
============ ============ ============
============ ============
Total non performing

loans $ 89,817 $ 86,114 $ 76,589 $
69,769 $ 56,202
Other real estate owned &

other assets $ 19,634 $ 18,832 $ 20,737 $
18,270 $ 22,792
Nonaccrual Investment

Securities $ 4,740 $ 4,740 $ --
$ 945 $ --
============ ============ ============
============ ============
Total non performing

assets $ 114,191 $ 109,686 $ 97,326 $
88,984 $ 78,994
Problem Loans Still

Performing $ 44,105 $ 46,278 $ 48,366 $
59,076 $ 75,127
============ ============ ============
============ ============
Total Problem Assets $ 158,296 $ 155,964 $ 145,692 $
148,060 $ 154,121

Net loan charge-offs to

average loans 1.06% 5.25% 5.34%
2.57% 0.42%
Allowance for losses to

total loans 2.93% 2.83% 2.11%
2.62% 2.35%
Non performing loans to

gross loans 10.91% 10.13% 8.71%
7.66% 6.08%
Non performing assets to

total assets 8.27% 7.93% 6.75%
6.17% 5.32%
Allowance to non

performing loans 26.85% 27.94% 24.25%
34.22% 38.71%

END OF PERIOD BALANCES

Loans and leases $ 823,515 $ 849,910 $ 879,513 $
910,356 $ 923,919
Total earning assets $ 1,260,637 $ 1,258,073 $ 1,315,930 $
1,321,006 $ 1,363,015
Total assets $ 1,381,616 $ 1,383,369 $ 1,442,512 $
1,441,582 $ 1,485,854
Deposits $ 1,028,921 $ 1,031,791 $ 1,047,649 $
1,039,479 $ 1,066,886
Interest Bearing

Liabilities $ 1,149,728 $ 1,155,253 $ 1,199,403 $
1,189,725 $ 1,232,573
Shareholders' equity $ 83,913 $ 81,764 $ 109,597 $
110,010 $ 116,096
Total Shares Outstanding 16,222,177 16,210,110 16,198,785
16,187,277 16,178,121

AVERAGE BALANCES

Loans and leases $ 826,472 $ 869,130 $ 899,795 $
918,513 $ 934,766
Total earning assets $ 1,261,528 $ 1,283,459 $ 1,331,381 $
1,346,749 $ 1,405,306
Total assets $ 1,369,827 $ 1,390,421 $ 1,434,971 $
1,452,339 $ 1,513,312
Deposits $ 1,033,454 $ 1,024,353 $ 1,051,967 $
1,054,447 $ 1,100,982
Interest Bearing

Liabilities $ 1,156,617 $ 1,158,525 $ 1,202,082 $
1,212,880 $ 1,258,040
Shareholders' equity $ 82,590 $ 110,488 $ 112,533 $
117,677 $ 122,371

MBT FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

Quarter Ended March
31,

Dollars in thousands (except
per share data) 2010 2009
------------------------------- --------- ----------
Interest Income
Interest and fees on loans $ 11,949 $ 13,600
Interest on investment
securities--
Tax-exempt 638 877
Taxable 2,689 4,500
Interest on balances due from
banks 38 15

Interest on federal funds sold -- --
------------------------------- --------- ----------

Total interest income 15,314 18,992
------------------------------- --------- ----------

Interest Expense
Interest on deposits 3,353 5,524

Interest on borrowed funds 2,556 3,255
------------------------------- --------- ----------

Total interest expense 5,909 8,779
------------------------------- --------- ----------

Net Interest Income 9,405 10,213

Provision For Loan Losses 2,200 4,200
------------------------------- --------- ----------

Net Interest Income After

Provision For Loan Losses 7,205 6,013
------------------------------- --------- ----------

Other Income
Income from wealth management
services 962 914
Service charges and other fees 1,271 1,356
Net gain (loss) on sales of
securities 295 606

Other Than Temporary Impairment
on securities (2,953) (6,400)

Portion of OTTI loss recognized
in other comprehensive income
(before taxes) 2,953 5,631
------------------------------- --------- ----------
-- (769)

Origination fees on mortgage
loans sold 132 109
Bank Owned Life Insurance
income 389 369

Other 992 746
------------------------------- --------- ----------

Total other income 4,041 3,331
------------------------------- --------- ----------

Other Expenses
Salaries and employee benefits 5,069 5,434
Occupancy expense 805 914
Equipment expense 840 848
Marketing expense 248 242
Professional fees 480 458
Collection expense 94 463
Net loss on other real estate
owned 1,036 1,856
Other real estate owned expense 751 299
FDIC deposit insurance
assessment 631 436

Other 944 1,047
------------------------------- --------- ----------

Total other expenses 10,898 11,997
------------------------------- --------- ----------

Income (Loss) Before Income
Taxes 348 (2,653)

Income Tax Expense (Benefit) -- (1,286)
------------------------------- --------- ----------

Net Income (Loss) $ 348 $ (1,367)
=============================== ========= ==========

Basic Earnings (Loss) Per
Common Share $ 0.02 $ (0.08)
------------------------------- --------- ----------

Diluted Earnings (Loss) Per
Common Share $ 0.02 $ (0.08)
------------------------------- --------- ----------

Dividends Declared Per Common
Share $ -- $ 0.01
------------------------------- --------- ----------

MBT FINANCIAL CORP.
CONSOLIDATED BALANCE SHEETS

March 31, March 31,
2010 December 31, 2009

Dollars in thousands (Unaudited) 2009 (Unaudited)
---------------------------- ------------ ------------ ------------
Assets
Cash and Cash Equivalents
Cash and due from banks
Non-interest bearing $ 14,723 $ 18,448 $ 15,390

Interest bearing 54,771 51,298 6,809
---------------------------- ------------ ------------ ------------
Total cash and cash
equivalents 69,494 69,746 22,199

Securities - Held to
Maturity 32,100 36,433 41,524
Securities - Available for
Sale 337,165 307,346 377,677
Federal Home Loan Bank stock
- at cost 13,086 13,086 13,086
Loans held for sale 940 931 1,478
Loans - Net 798,463 824,916 900,688
Accrued interest receivable
and other assets 50,107 50,580 50,696
Bank Owned Life Insurance 48,342 47,953 45,857

Premises and Equipment - Net 31,919 32,378 32,649
---------------------------- ------------ ------------ ------------

Total assets $ 1,381,616 $ 1,383,369 $ 1,485,854
---------------------------- ------------ ------------ ------------

Liabilities
Deposits:
Non-interest bearing $ 137,693 $ 135,038 $ 125,813

Interest-bearing 891,228 896,753 941,073
---------------------------- ------------ ------------ ------------
Total deposits 1,028,921 1,031,791 1,066,886

Federal Home Loan Bank
advances 228,500 228,500 261,500
Repurchase agreements 30,000 30,000 30,000

Interest payable and other
liabilities 10,282 11,314 11,372
---------------------------- ------------ ------------ ------------

Total liabilities 1,297,703 1,301,605 1,369,758
---------------------------- ------------ ------------ ------------

Shareholders' Equity
Common stock (no par value) 639 593 436
Retained Earnings 88,744 88,396 121,368

Accumulated other
comprehensive income (5,470) (7,225) (5,708)
---------------------------- ------------ ------------ ------------

Total shareholders'
equity 83,913 81,764 116,096
---------------------------- ------------ ------------ ------------

Total liabilities and
shareholders' equity $ 1,381,616 $ 1,383,369 $ 1,485,854
============================ ============ ============ ============

CONTACT: MBT Financial Corp.
H. Douglas Chaffin, Chief Executive Officer
(734) 384-8123
doug.chaffin@mbandt.com
John L. Skibski, Chief Financial Officer
(734) 242-1879
john.skibski@mbandt.com
Mary Jane Town, Marketing Officer
(734) 240-2510
maryjane.town@mbandt.com