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Monroe Bank & Trust
Monroe Bank & Trust was a bank headquartered in Monroe, Michigan, a subsidiary of MBT Financial Corp., a bank holding company. It operated 20 branches, including 14 branches in Monroe County, Michigan and 6 branches in Wayne County, Michigan. In September 2019, the company was acquired by First Merchants Corporation. HistoryThe bank was founded in 1905 as Monroe State Savings Bank.[1] In 1940, it acquired Dansard Bank.[1] In 1950, the bank opened its second location, a branch in Ida, Michigan.[1] In 1968, the bank changed its name from "Monroe State Savings Bank" to "Monroe Bank & Trust".[1] In 2001, the bank expanded into Wayne County, Michigan. In October 2008, the bank acquired Main Street Bank of Northville, Michigan after it suffered from bank failure and was shut by regulators.[2] In 2009, the bank declined to receive an investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program.[3] On July 12, 2010, the bank entered into a consent order with the Federal Deposit Insurance Corporation as a result of trouble in its loan portfolio. The consent order was terminated on July 3, 2014.[4] In June 2016, the company was added to the Russell 3000 Index and Russell 2000 Index.[5] In September 2019, the company was acquired by First Merchants Corporation.[6] References
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