MBT Financial (MBTF) 8-K MBT Financial Corp. Reports 2006 Earnings

EXHIBIT 99

MBT Financial Corp. Reports 2006 Earnings

MONROE, Mich.,January 23, 2007 — MBT Financial Corp., (Nasdaq: MBTF), the parent company of Monroe Bank & Trust, reported net income for the fourth quarter of 2006 of $3.8 million, a decrease of 25.8% from the fourth quarter of 2005. Diluted earnings per share decreased 20.7% from $0.29 in the fourth quarter of 2005 to $0.23.

For the full year, earnings were $3.9 million, a decrease of 78.5% compared to the $18.0 million earned in 2005. Diluted earnings per share decreased 77.7% from $1.03 in 2005 to $0.23 in 2006.

H. Douglas Chaffin, President and CEO, commented, “The interest rate environment and the economic conditions in southeast Michigan significantly impacted our ability to grow our assets and earnings in 2006. Our earnings were also impacted by some strategic initiatives we implemented earlier in the year that will provide future benefits. This included an investment portfolio restructuring in the second quarter and a non-performing asset (NPA) sale in the third quarter.”

“Asset quality has been a persistent problem for us, and with the ongoing economic weakness in our region, we are seeing an increase in delinquencies. Although non performing assets (NPAs) increased from $19.3 million to $22.5 million during the fourth quarter, total problem assets decreased slightly, from $59.0 million to $58.8 million. The increase in non accrual loans was mainly due to a single credit relationship that was previously recognized as a problem asset.

Mr. Chaffin further commented on the Company’s core earnings for the quarter. “Net Interest Income decreased $1.5 million compared to the fourth quarter of 2005. The flat to inverted yield curve continues to put pressure on our net interest margin, with our funding costs rising considerably faster than our asset yields. We’ve allowed high cost deposits to run off and have funded that run off in part with the reduction in our investment portfolio. Once the yield curve returns to a more normal shape, this should allow us to resume asset growth at a reasonable margin. Non interest income, excluding securities transactions, was flat compared to the fourth quarter of 2005 and non interest expenses increased 5.3%.”

Total assets were $1.57 billion at December 31, 2006, a decrease of 4.4% from a year earlier. Investments decreased $81.6 million or 15.3% over the year, which funded the loan growth of $9.7 million (1.0%) and the deposit reduction of $68.7 million (5.8%). Shareholders’ equity was $136.5 million, a decrease of $15.1 million over the past twelve months.

Conference Call
MBT Financial Corp. will hold a conference call to discuss fourth quarter results on Wednesday, January 24, 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 (877) 407-8031. The event will be archived on the Company’s web site and available for three 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 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 26 offices, 38 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.

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.

FOR FURTHER INFORMATION:
H. Douglas Chaffin	John L. Skibski	Herbert J. Lock
Chief Executive Officer	Chief Financial Officer	Investor Relations
(734) 384-8123	(734) 242-1879	(734) 242-2603
doug.chaffin@mbandt.com	john.skibski@mbandt.com	herb.lock@mbandt.com

MBT FINANCIAL CORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS — UNAUDITED

	Quarterly
	2006			2006			2006			2006			2005
(dollars in thousands except per share data)	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr
EARNINGS
Net interest income	$	11,165		$	11,380		$	11,922		$	12,168		$	12,686
FTE Net interest income	$	11,604		$	11,803		$	12,369		$	12,650		$	13,243
Provision for loan and lease losses	$	1,175		$	7,950		$	6,675		$	675		$	1,606
Non-interest income	$	3,511		$	3,723		$	(1,240	)	$	3,584		$	3,656
Non-interest expense	$	8,269		$	9,418		$	10,052		$	8,489		$	7,856
Net income (loss)	$	3,830		$	(1,118	)	$	(3,576	)	$	4,726		$	5,160
Basic earnings (loss) per share	$	0.23		$	(0.07	)	$	(0.21	)	$	0.28		$	0.30
Diluted earnings (loss) per share	$	0.23		$	(0.07	)	$	(0.21	)	$	0.28		$	0.29
Average shares outstanding		16,815,634			16,872,826			16,969,365			17,111,913			17,222,943
Average diluted shares outstanding		16,837,925			16,894,504			17,000,563			17,162,737			17,274,577
PERFORMANCE RATIOS
Return on average assets		0.97	%		-0.28	%		-0.90	%		1.17	%		1.26	%
Return on average common equity		10.76	%		-3.15	%		-9.61	%		12.67	%		13.22	%
Base Margin		2.93	%		2.95	%		3.08	%		3.13	%		3.20	%
FTE Adjustment		0.12	%		0.11	%		0.12	%		0.13	%		0.14	%
Loan Fees		0.09	%		0.10	%		0.09	%		0.09	%		0.11	%
FTE Net Interest Margin		3.14	%		3.16	%		3.29	%		3.35	%		3.45	%
Efficiency ratio		54.17	%		55.94	%		53.73	%		52.22	%		45.10	%
Full-time equivalent employees		415			416			418			416			413
CAPITAL
Average equity to average assets		9.02	%		8.93	%		9.34	%		9.27	%		9.54	%
Book value per share	$	8.17		$	8.30		$	8.23		$	8.76		$	8.82
Cash dividend per share	$	0.18		$	0.18		$	0.17		$	0.17		$	0.17
ASSET QUALITY
Loan Charge-Offs	$	1,343		$	12,407		$	3,880		$	744		$	1,423
Loan Recoveries	$	390		$	497		$	504		$	648		$	877
Net Charge-Offs	$	953		$	11,910		$	3,376		$	96		$	546
Allowance for loan and lease losses	$	13,764		$	13,542		$	17,502		$	14,204		$	13,625
Nonaccrual Loans	$	19,152		$	13,334		$	22,132		$	16,553		$	16,212
Loans 90 days past due	$	69		$	99		$	85		$	91		$	101
Restructured loans	$	888		$	944		$	2,485		$	1,847		$	1,813
Total nonperforming loans	$	20,109		$	14,377		$	24,702		$	18,491		$	18,126
Other real estate owned	$	2,432		$	4,873		$	7,748		$	8,395		$	8,336
Nonperforming investment securities	$	—		$	—		$	—		$	—		$	—
Total nonperforming assets	$	22,541		$	19,250		$	32,450		$	26,886		$	26,462
Problem Loans Still Performing	$	36,264		$	39,782		$	55,202		$	63,937		$	64,041
Total Problem Assets	$	58,805		$	59,032		$	87,652		$	90,823		$	90,503
Net loan charge-offs to average loans		0.38	%		4.61	%		1.33	%		0.04	%		0.22	%
Allowance for losses to total loans		1.38	%		1.34	%		1.71	%		1.42	%		1.38	%
Nonperforming assets to Gross Loans		2.26	%		1.91	%		3.17	%		2.68	%		2.67	%
Nonperforming assets to total assets		1.44	%		1.21	%		2.03	%		1.66	%		1.62	%
Allowance to nonperforming assets		61.06	%		70.35	%		53.94	%		52.83	%		51.49	%
END OF PERIOD BALANCES
Loans and leases	$	998,998		$	1,008,914		$	1,024,813		$	1,003,757		$	989,311
Total earning assets	$	1,451,110		$	1,473,804		$	1,479,252		$	1,509,020		$	1,528,020
Total assets	$	1,566,627		$	1,588,374		$	1,598,665		$	1,615,099		$	1,638,356
Deposits	$	1,116,056		$	1,124,784		$	1,116,030		$	1,147,385		$	1,184,710
Interest Bearing Liabilities	$	1,257,368		$	1,284,862		$	1,305,280		$	1,294,008		$	1,298,094
Shareholders’ equity	$	136,524		$	140,017		$	138,823		$	149,392		$	151,619
Total Shares Outstanding		16,713,960			16,873,671			16,871,683			17,059,170			17,197,116
AVERAGE BALANCES
Loans and leases	$	1,001,549		$	1,025,729		$	1,017,097		$	997,756		$	977,770
Total earning assets	$	1,467,136		$	1,480,840		$	1,506,062		$	1,530,018		$	1,523,391
Total assets	$	1,565,707		$	1,578,802		$	1,597,107		$	1,631,602		$	1,623,108
Deposits	$	1,112,521		$	1,113,447		$	1,115,672		$	1,171,907		$	1,163,964
Interest Bearing Liabilities	$	1,280,146		$	1,291,485		$	1,298,117		$	1,308,967		$	1,299,820
Shareholders’ equity	$	141,256		$	140,954		$	149,195		$	151,268		$	154,857

MBT FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED

	Quarter Ended December 31,
Dollars in thousands (except per share data)	2006			2005
Interest Income
Interest and fees on loans	$	17,861		$	16,983
Interest on investment securities-
Tax-exempt		1,073			1,272
Taxable		5,145			5,396
Interest on federal funds sold		11			29
Total interest income		24,090			23,680
Interest Expense
Interest on deposits		8,132			6,955
Interest on borrowed funds		4,793			4,039
Total interest expense		12,925			10,994
Net Interest Income		11,165			12,686
Provision For Loan Losses		1,175			1,606
Net Interest Income After
Provision For Loan Losses		9,990			11,080
Other Income
Income from trust services		1,076			1,112
Service charges and other fees		1,589			1,502
Net gain (loss) on sales of securities		(156	)		22
Origination fees on mortgage loans sold		132			129
Bank Owned Life Insurance income		293			276
Other		577			615
Total other income		3,511			3,656
Other Expenses
Salaries and employee benefits		4,296			4,333
Occupancy expense		829			813
Other		3,144			2,710
Total other expenses		8,269			7,856
Income (Loss) Before Income Taxes		5,232			6,880
Income Tax Expense (Benefit)		1,402			1,720
Net Income (Loss)	$	3,830		$	5,160
Basic Earnings (Loss) Per Common Share	$	0.23		$	0.30
Diluted Earnings (Loss) Per Common Share	$	0.23		$	0.29
Dividends Declared Per Common Share	$	0.18		$	0.17

MBT FINANCIAL CORP.
CONSOLIDATED STATEMENTS OF INCOME

	Years Ended December 31,
Dollars in thousands (except per share data)	2006 (Unaudited)			2005
Interest Income
Interest and fees on loans	$	70,950		$	64,578
Interest on investment securities-
Tax-exempt		4,356			5,036
Taxable		20,546			19,864
Interest on federal funds sold		71			217
Total interest income		95,923			89,695
Interest Expense
Interest on deposits		30,849			23,578
Interest on borrowed funds		18,439			15,005
Total interest expense		49,288			38,583
Net Interest Income		46,635			51,112
Provision For Loan Losses		16,475			6,906
Net Interest Income After
Provision For Loan Losses		30,160			44,206
Other Income
Income from trust services		4,268			4,244
Service charges and other fees		6,210			5,833
Net gain (loss) on sales of securities		(5,057	)		295
Origination fees on mortgage loans sold		560			666
Bank Owned Life Insurance income		1,178			1,100
Other		2,419			2,311
Total other income		9,578			14,449
Other Expenses
Salaries and employee benefits		19,542			18,248
Occupancy expense		3,113			3,320
Other		13,573			12,250
Total other expenses		36,228			33,818
Income (Loss) Before Income Taxes		3,510			24,837
Income Tax Expense (Benefit)		(352	)		6,858
Net Income	$	3,862		$	17,979
Basic Earnings Per Common Share	$	0.23		$	1.04
Diluted Earnings Per Common Share	$	0.23		$	1.03
Dividends Declared Per Common Share	$	0.70		$	0.66

MBT FINANCIAL CORP.
CONSOLIDATED BALANCE SHEETS

	Dec. 31, 2006			December 31,
Dollars in thousands	(Unaudited)			2005
Assets
Cash and Cash Equivalents
Cash and due from banks	$	27,903		$	32,330
Federal funds sold		—			5,000
Total cash and cash equivalents		27,903			37,330
Securities — Held to Maturity		64,938			76,467
Securities — Available for Sale		374,087			444,021
Federal Home Loan Bank stock — at cost		13,086			13,221
Loans held for sale		721			434
Loans — Net		984,513			975,252
Accrued interest receivable and other assets		27,733			28,748
Bank Owned Life Insurance		39,667			36,252
Premises and Equipment — Net		33,979			26,631
Total assets	$	1,566,627		$	1,638,356
Liabilities
Deposits:
Non-interest bearing	$	158,688		$	178,116
Interest-bearing		957,368			1,006,594
Total deposits		1,116,056			1,184,710
Federal Home Loan Bank advances		256,500			256,500
Federal funds purchased		3,500			—
Repurchase agreements		40,000			35,000
Interest payable and other liabilities		14,047			10,527
Total liabilities		1,430,103			1,486,737
Stockholders’ Equity
Common stock (no par value)		—			—
Additional paid-in capital		6,979			14,417
Retained Earnings		134,251			142,205
Accumulated other comprehensive income		(4,706	)		(5,003	)
Total stockholders’ equity		136,524			151,619
Total liabilities and stockholders’ equity	$	1,566,627		$	1,638,356