MBT Financial (MBTF) 8-K Regulation FD Disclosure

EXHIBIT 99

November 13, 2009

Dear Shareholder:

Enclosed please find a copy of our unaudited financial results for the quarter ending September 30, 2009 as reported in our 10-Q filing with the SEC.  These results differ slightly from the preliminary unaudited results announced October 22, 2009 due to an increase of our reserve for loan losses for an additional $1.1million for that period. This additional provision increased our previously reported net loss from $1.6 million, or $0.10 per share to $2.3 million, or $0.14 per share.

 High levels of unemployment and declines in real estate values locally continue to negatively impact our earnings. We have taken a number of steps over the last several years to reduce our exposure to certain loan risk categories, improve our loan oversight and collection procedures, and reduce expenses. The positive impact of these initiatives have been overshadowed by continued required additions to our loan loss reserve, higher than expected levels of charge-offs, and continued write downs in the value of real estate property that we have acquired in foreclosure.   In addition, as we reported in our quarterly earning release, we recently experienced a decline in the value of certain investments we hold in our securities portfolio.

Our efforts to eliminate problem loans continue. As an example, we reduced our portfolio of foreclosed properties by conducting two real estate auctions that we held in June and October.  While we currently see some signs of stability in area property values and a leveling off of the number of loan delinquencies, we anticipate that it will take some time before we experience any meaningful recovery in the southeast Michigan economy.

Notwithstanding the need to increase our reserve for loan losses, the Bank remains “well capitalized” under all applicable regulatory capital regulations. As I have indicated in earlier communications to you, we have been targeting an 8% Tier 1 Leverage Ratio at the Bank level since 2007. The Tier 1 Leverage Ratio is one of the important capital ratios that a Bank must monitor. The minimum Tier 1 Leverage for a bank to be considered “well capitalized” under regulatory capital guidelines is 5%. Unfortunately, the challenges mentioned above have impacted our earnings and lowered this ratio to a current level of approximately 7%.  Although we remain “well capitalized”, we are continually evaluating actions, including means of increasing our capital, that we believe can improve our Tier 1 Leverage Ratio and other applicable regulatory ratios.

On behalf of the entire board of directors, officers and staff we extend our thanks to you, our shareholders, for your continued support.

Sincerely,

H. Douglas Chaffin

President & CEO

MBT FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

	Three Months Ended September 30,						Nine Months Ended September 30,
Dollars in thousands, except per share data	2009			2008			2009			2008
Interest Income
Interest and fees on loans	$	13,229		$	15,689		$	39,994		$	47,888
Interest on investment securities-
Tax-exempt		837			844			2,579			2,477
Taxable		3,544			4,558			11,872			14,312
Interest on balances due from banks		30			-			57			-
Interest on federal funds sold		-			22			-			23
Total interest income		17,640			21,113			54,502			64,700
Interest Expense
Interest on deposits		4,174			6,263			14,280			20,122
Interest on borrowed funds		2,950			3,764			9,308			11,912
Total interest expense		7,124			10,027			23,588			32,034
Net Interest Income		10,516			11,086			30,914			32,666
Provision For Loan Losses		6,800			4,100			19,000			8,000
Net Interest Income After
Provision For Loan Losses		3,716			6,986			11,914			24,666
Other Income
Income from wealth management services		936			1,087			2,756			3,333
Service charges and other fees		1,516			1,683			4,304			4,795
Net gain on sales of securities		4,365			323			5,021			371
Other Than Temporary Impairments on securities		(2,693	)		-			(9,093	)		-
Portion of OTTI loss recognized in other comprehensive income (before taxes)		(1,859	)		-			3,772			-
Origination fees on mortgage loans sold		119			73			350			357
Bank owned life insurance income		369			355			1,034			985
Other		806			744			2,376			2,244
Total other income		3,559			4,265			10,520			12,085
Other Expenses
Salaries and employee benefits		5,122			5,090			15,956			16,113
Occupancy expense		804			801			2,445			2,712
Equipment expense		729			804			2,348			2,480
Marketing expense		277			297			798			894
Professional fees		419			401			1,286			1,325
Collection expenses		121			87			685			514
Net loss on other real estate owned		1,927			2,215			7,957			2,604
Other real estate owned expenses		399			438			1,165			1,026
FDIC Deposit Insurance Assessment		628			226			2,314			394
Other		964			1,006			3,022			3,164
Total other expenses		11,390			11,365			37,976			31,226
Income (Loss) Before Income Taxes		(4,115	)		(114	)		(15,542	)		5,525
Income Tax Expense (Benefit)		(1,790	)		(438	)		(6,477	)		836
Net Income (Loss)	$	(2,325	)	$	324		$	(9,065	)	$	4,689
Basic Earnings (Loss) Per Common Share	$	(0.14	)	$	0.02		$	(0.56	)	$	0.29
Diluted Earnings (Loss) Per Common Share	$	(0.14	)	$	0.02		$	(0.56	)	$	0.29
Common Stock Dividends Declared Per Share	$	-		$	0.09		$	0.02		$	0.45

MBT FINANCIAL CORP.

CONSOLIDATED BALANCE SHEETS

	September 30, 2009
Dollars in thousands	(Unaudited)			December 31, 2008
ASSETS
Cash and Cash Equivalents
Cash and due from banks
Non-interest bearing	$	14,500		$	24,463
Interest bearing		56,731			26,323
Total cash and cash equivalents		71,231			50,786
Securities - Held to Maturity		34,655			46,840
Securities - Available for Sale		331,945			406,117
Federal Home Loan Bank stock - at cost		13,086			13,086
Loans held for sale		418			784
Loans - Net		860,522			922,420
Accrued interest receivable and other assets		49,830			43,973
Bank Owned Life Insurance		47,961			45,488
Premises and Equipment - Net		32,864			32,907
Total assets	$	1,442,512		$	1,562,401
LIABILITIES
Deposits:
Non-interest bearing	$	121,746		$	144,585
Interest-bearing		925,903			991,493
Total deposits		1,047,649			1,136,078
Federal Home Loan Bank advances		243,500			261,500
Repurchase agreements		30,000			30,000
Interest payable and other liabilities		11,766			13,846
Total liabilities		1,332,915			1,441,424
STOCKHOLDERS' EQUITY
Common stock (no par value; 30,000,000 shares authorized, 16,178,121 and 16,148,482 shares issued and outstanding)		554			321
Retained Earnings		113,508			122,896
Accumulated other comprehensive loss		(4,465	)		(2,240	)
Total stockholders' equity		109,597			120,977
Total liabilities and stockholders' equity	$	1,442,512		$	1,562,401