Monroe Bank & Trust
Item 1.02 Termination of a Material Definitive Agreement
, the wholly-owned banking subsidiary of MBT Financial Corp
recently received notification from the Federal Deposit Insurance Corporation
(FDIC) and the Michigan Department of Insurance
and Financial Services (DIFS)
that the Consent Order it has been operating under since July 12, 2010
terminated effective June 30, 2014
. Although the Consent Order has been
terminated, certain informal regulatory requirements and restrictions remain,
including requirements to continue to improve credit quality, a restriction
prohibiting dividend payments without prior approval from the FDIC
and the DIFS,
and the maintenance of a specified Tier 1 capital ratio. A copy of the Consent
Order was filed as Exhibit 10 to the Company's Current Report on Form 8-K, filed
with the Securities and Exchange Commission
on July 13, 2010
Certain statements contained in this current report on Form 8-K that are not
historical facts may constitute "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. In addition, certain statements may
be contained in the Company's future filings with the SEC
, in press releases,
and in oral and written statements made by or with the approval of the Company
that are not statements of historical fact and constitute forward-looking
statements within the meaning of the Act. Words such as "believes,"
"anticipates," "expects," "intends," "targeted," "continue," "remain," "will,"
"should," "may" and other similar expressions are intended to identify
forward-looking statements but are not the exclusive means of identifying such
Forward-looking statements involve risks and uncertainties that may cause actual
results to differ materially from those in such statements including, among
others, any failure to satisfy all closing conditions for the transactions
discussed herein and any resulting inability to complete the issuance and sale
of shares of Common Stock in the manner intended.
Item 7.01 Regulation FD Disclosure.
The information set forth in Item 1.02 concerning the termination of the Consent
Order with the FDIC
and the Michigan Department of Insurance
Services effective June 30, 2014
is incorporated herein by reference.
Item 9.01 Exhibits.
Exhibit No. Exhibit
99.1 Press Release dated July 3, 2014