EXHIBIT 99

July 22, 2008

Monroe Bank & Trust and
MBT Financial Corp
Letter to Shareholders for the Six Months ending June 30, 2008

Dear Fellow Shareholder:

After the close of business on July 17th, we announced the financial results of
MBT Financial Corp for the 2nd Quarter as well as the six months ending June 30,
2008. If you have not already received a copy of the press release, you can
access a copy through our website at www.mbandt.com. In addition, I thought it
would be equally important to communicate to you our thoughts on the current
financial environment, and our plans going forward.

OUR CURRENT ENVIRONMENT

You have likely read the recent negative news concerning Michigan's economy,
including the additional planned staff reductions in the domestic auto industry,
increased unemployment, and continued rates of foreclosure among the highest in
the country. In May, the rate of unemployment in Michigan reached 8.5%, with
unemployment in Monroe County nearing 9%. This is the highest level of
unemployment for both the state and our primary market area in over 15 years.
Compounding this problem has been a reduction in property values, exacerbating
the efforts of consumers to sell property, and our efforts to collect loans
secured by real estate when sold. We estimate that property values in Monroe
County have been reduced by a total of 25% on average over the past three years.
Much has been published about abuses in the mortgage industry as a potential
cause of the current rate of foreclosures. While there were certainly bad actors
in the market, the vast majority of foreclosures in Michigan, and particularly
Monroe and Wayne Counties have been created by the fact that people are out of
work. The products offered by our own Mortgage department have always been above
board, and we have never offered the type of "structured" products that have
become synonymous with the sub prime lending debacle. In fact, delinquency rates
within our own residential loan portfolio are far lower than national averages.

In addition to our local environment, recent announcements concerning the
national economy, national rates of foreclosure, the stability of Freddie Mac
and Fannie Mae, and a well publicized bank failure in California has created
significant stress for all financial stocks. As of June 30, 2008 the NASDAQ Bank
Composite Index has seen a decline of 23 % since year end 2007. The 10 banks in
Michigan traded on major exchanges (excluding MBTF) have seen an average decline
in value of 45% for the same period.  While we are not pleased with our results
for the first six months of this year, it is indicative of environmental factors
affecting all financial institutions today, particularly in Michigan.

We believe that much of this reaction is unwarranted. The overwhelming majority
of banks throughout the country and indeed in Michigan are safe, financially
sound, with ample liquidity and capital to weather our current challenges.
Furthermore, no depositor has ever lost a penny of deposits that were insured by
the FDIC during its 75 year history.

Independent of what is occurring nationally and throughout Michigan, Monroe Bank
& Trust remains well capitalized, with ample liquidity to meet the needs of our
customers.

PROBLEM LOANS AND NON-PERFORMING ASSETS

Largely due to the environment outlined above, we have continued to see
increases in our non-performing and problem loans. The economic climate in our
local area continues to stress many of our commercial customers, which has been
reflected in higher rates of delinquencies. The old adage that "all loans are
good when made" still holds true. Our credit underwriting practices and policies
are sound. However the environment outlined above has resulted in an increase in
problem and non-performing assets to levels consistent with those of many of our
peers in Michigan. We have been aggressive in identifying these problem assets
as early as possible, and take quick action to set aside the appropriate
reserves for any potential loss. Our loan loss reserve, which is used to offset
loan charge-offs now stands at 1.83% of loans, which is well above peer averages
of 1.22%.

EXPENSE CONTROL

Previously we announced key initiatives to reduce expenses, including the
closing of one branch office, converting two separate offices to drive-up only
service, and reductions in staff and other operating expenses. Salaries and
benefits expense has decreased by 3% on a linked quarter basis for the second
quarter of 2008, as well as a comparison to the second quarter of 2007. The
total of full-time equivalent employees has declined by 41, or 10% over the past
twelve



months. While recently we have seen an increase in credit related costs, total
baseline expenses have declined over the past quarter. Expense control has
always been a focus of our culture, and we will continue to seek ways to reduce
costs further.

A WORD ABOUT CAPITAL AND DIVIDENDS

Our capital levels remain strong, and well above regulatory minimums required to
be considered a well-capitalized institution. As of June 30, 2008 our total
tangible capital was $121,348,000. We have ample liquidity to meet the needs of
our qualified loan customers, and continue to maintain a financially sound and
solvent balance sheet. We are increasingly concerned however that the reduced
earnings levels are not sufficient to cover our current dividend. Maintaining a
strong capital position in today's environment is critical. Therefore, our board
will be evaluating all options concerning the payment of our dividend during its
monthly meeting in August. We will make a determination of the appropriate level
of the dividend payment at that time.

All businesses are being challenged in today's economic climate, and MBT
Financial Corp is no exception. However, your Board of Directors and management
team are hard at work navigating through the various issues outlined above. We
are confident that our strategies are appropriate, and will allow us to remain a
sound and growing institution when this environment improves. As always, we
welcome your comments, and appreciate your support.

Sincerely,


/s/ H. Douglas Chaffin
- -------------------------------------
H. Douglas Chaffin
President & CEO