August 31, 2009 (FinancialWire) — MBT Financial Corp.’s (NASDAQ: MBTF) (Current Market Cap: $35.14 Mil.) board has decided to suspend the company’s quarterly dividend. MBT’s previous quarterly cash dividend was one cent per common share.

company CEO H. Douglas Chaffin said that MBT had made the move, “Following the losses we reported for the first two quarters of 2009.”

He added, “Although the national recession is showing signs of ending, we expect the economic weakness to continue in southeast Michigan.” Chaffin said that temporary suspension of the dividend will the company to preserve capital and keep it “positioned for growth when the state’s economy recovers.”

Monroe, Michigan-based MBT Financial is a single bank holding company whose Monroe Bank & Trust unit has 25 offices.

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