MONROE, Mich., Oct. 26, 2017 (GLOBE NEWSWIRE) -- MBT Financial Corp., MBTF, the parent company of Monroe Bank & Trust, reported a preliminary net profit of $3,933,000 ($0.17 per share, basic and diluted), in the third quarter of 2017, compared to a profit of $3,687,000 ($0.16 per share, basic and diluted), in the third quarter of 2016. The profit for the nine months ended September 30, 2017 is $10,753,000, compared to $10,923,000 for the first nine months of 2016. When adjusting for non-recurring items such as negative loan loss provisions, gains and losses on Other Real Estate transactions, securities gains, and an adjustment to the wealth management fee income accrual, the adjusted operating income is $14,368,000 for the first three quarters of 2017, compared to $12,330,000 for the first three quarters of 2016 for an increase of 16.5%.
The Company also announced that it will pay a quarterly dividend of $0.06 on November 16, 2017 to shareholders of record as of November 9, 2017. This is an increase of $0.02, or 50% compared to the dividend paid in the same quarter last year.
The Net Interest Income for the third quarter of 2017 increased $716,000, or 7.5% as the net interest margin improved from 3.11% in the third quarter of 2016 to 3.38% in the third quarter of 2017 due to higher interest rates and growth in the loan portfolio.
The provision for loan losses was $0 for the third quarter of 2017, an increase of $700,000 compared to last year's third quarter, when we recorded a negative expense of $700,000. Asset quality and historical loss ratios improved, but the growth in the loan portfolio offset the need for another negative provision expense. Total Loans increased $10.2 million, or 1.5% during the third quarter, which is an annualized growth rate of 6.0%. The Allowance for Loan and Lease Losses was reduced from $8.1 million, or 1.19% of loans at the end of the second quarter to a still relatively robust $8.0 million, or 1.15% as of the end of the third quarter.
Non-interest income was little changed from the third quarter of 2016 to the third quarter of 2017, decreasing $4,000, or 0.1%. Non-interest expense decreased $24,000, or 0.3%, as a $201,000 decrease in salaries and benefits was offset by increases in marketing expense and professional fees.
Total assets of the company decreased $9.9 million, or 0.7%, compared to December 31, 2016, to $1.35 billion. Capital decreased $5.1 million during the first three quarters of the year as the payment of the special and regular dividends exceeded the net income. The Accumulated Other Comprehensive Loss (AOCL) component of capital improved $3.0 million as the market value of Available for Sale investment securities improved. The ratio of equity to assets decreased from 10.40% at the end of 2016 to 10.09% at the end of the third quarter of 2017. The Bank's Tier 1 Leverage ratio decreased from 10.75% as of December 31, 2016 to 10.12 % as of September 30, 2017.
H. Douglas Chaffin, President and CEO, commented, "We continue to see solid loan growth, and the improvement in net interest margin combined with well-controlled non-interest expenses contributed to improved core earnings year to date. We plan to continue our focus on each of these items for the rest of 2017, and our new business pipeline remains strong. Notably, we also expect credit quality to remain strong, as we see nothing that might inhibit our strong quality metrics in the near term. Our focus on managing our capital has also allowed us to bring more value to our shareholders, through the increased dividends we announced today. We will continue to keep our eyes open for the right opportunities to grow through strategic acquisitions, while remaining disciplined in that regard. We remain confident in our ability to maintain our position as the premier independent provider of financial services in the communities we serve."
Conference Call
MBT Financial Corp. will hold a conference call to discuss the Third Quarter 2017 results on Friday, October 27, 2017, 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 in the United States by calling toll free (877) 510-3783. The toll free number for callers in Canada is (855) 669-9657 and international callers can access the call at (412) 902-4136. A replay will be available one hour after the conclusion of the call at (877) 344-7529, Conference #10113109. The replay will be available until November 27, 2017 at 9:00 a.m. Eastern. The webcast will be archived on the Company's web site and available for twelve months following the call.
About the Company:
MBT Financial Corp. MBTF, a 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 independently owned community banks in Southeast Michigan. With over $1.3 billion in assets, MBT is a full-service bank, offering a complete range of business and personal accounts, credit and mortgage options, investment and retirement services and award-winning financial literacy outreach. MBT employee volunteers contribute between 8,000 to 9,000 hours of community service annually. MBT's Commercial Lending Group is a top SBA lending partner. MBT's Wealth Management Group ("WMG") is one of the largest and most respected in Michigan, ranking fourth among all Michigan banks for total trust assets. With offices and ATMs in Monroe, and Wayne Counties, convenient mobile and online banking, a robust online and social media presence and a comprehensive array of products and services, MBT prides itself in offering World Class Banking with a Local Address. Visit MBT's website 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.
| MBT FINANCIAL CORP. | ||||||||||||||||||||||||||||||
| CONSOLIDATED FINANCIAL HIGHLIGHTS - UNAUDITED | ||||||||||||||||||||||||||||||
| Quarterly | Year to Date | |||||||||||||||||||||||||||||
| 2017 | 2017 | 2017 | 2016 | 2016 | ||||||||||||||||||||||||||
| (dollars in thousands except per share data) | 3rd Qtr | 2nd Qtr | 1st Qtr | 4th Qtr | 3rd Qtr | 2017 | 2016 | |||||||||||||||||||||||
| EARNINGS | ||||||||||||||||||||||||||||||
| Net interest income | $ | 10,231 | $ | 9,864 | $ | 9,595 | $ | 9,574 | $ | 9,515 | $ | 29,690 | $ | 28,049 | ||||||||||||||||
| FTE Net interest income | $ | 10,394 | $ | 10,017 | $ | 9,749 | $ | 9,731 | $ | 9,671 | $ | 30,160 | $ | 28,502 | ||||||||||||||||
| Provision for loan and lease losses | $ | - | $ | - | $ | (200 | ) | $ | (1,000 | ) | $ | (700 | ) | $ | (200 | ) | $ | (1,200 | ) | |||||||||||
| Non interest income | $ | 4,035 | $ | 4,370 | $ | 3,820 | $ | 3,805 | $ | 4,039 | $ | 12,225 | $ | 13,708 | ||||||||||||||||
| Non interest expense | $ | 8,950 | $ | 9,008 | $ | 9,062 | $ | 9,269 | $ | 8,974 | $ | 27,020 | $ | 27,329 | ||||||||||||||||
| Net income | $ | 3,933 | $ | 3,640 | $ | 3,180 | $ | 3,578 | $ | 3,687 | $ | 10,753 | $ | 10,923 | ||||||||||||||||
| Basic earnings per share | $ | 0.17 | $ | 0.16 | $ | 0.14 | $ | 0.16 | $ | 0.16 | $ | 0.47 | $ | 0.48 | ||||||||||||||||
| Diluted earnings per share | $ | 0.17 | $ | 0.16 | $ | 0.14 | $ | 0.16 | $ | 0.16 | $ | 0.47 | $ | 0.48 | ||||||||||||||||
| Average shares outstanding | 22,871,451 | 22,865,529 | 22,821,273 | 22,738,718 | 22,733,134 | $ | 22,852,935 | $ | 22,823,682 | |||||||||||||||||||||
| Average diluted shares outstanding | 23,040,960 | 23,006,766 | 22,961,425 | 22,905,786 | 22,915,278 | $ | 23,034,533 | $ | 22,988,364 | |||||||||||||||||||||
| PERFORMANCE RATIOS | ||||||||||||||||||||||||||||||
| Return on average assets | 1.18 | % | 1.11 | % | 0.97 | % | 1.07 | % | 1.10 | % | 1.09 | % | 1.10 | % | ||||||||||||||||
| Return on average common equity | 11.54 | % | 11.14 | % | 9.83 | % | 9.57 | % | 9.98 | % | 10.85 | % | 10.15 | % | ||||||||||||||||
| Base Margin | 3.30 | % | 3.25 | % | 3.16 | % | 3.07 | % | 3.07 | % | 3.24 | % | 3.05 | % | ||||||||||||||||
| FTE Adjustment | 0.05 | % | 0.05 | % | 0.05 | % | 0.05 | % | 0.05 | % | 0.05 | % | 0.05 | % | ||||||||||||||||
| Loan Fees | 0.03 | % | 0.01 | % | 0.00 | % | 0.02 | % | -0.01 | % | 0.01 | % | 0.01 | % | ||||||||||||||||
| FTE Net Interest Margin | 3.38 | % | 3.31 | % | 3.21 | % | 3.14 | % | 3.11 | % | 3.30 | % | 3.11 | % | ||||||||||||||||
| Efficiency ratio | 62.52 | % | 64.14 | % | 66.43 | % | 68.18 | % | 65.59 | % | 64.33 | % | 67.71 | % | ||||||||||||||||
| Full-time equivalent employees | 295 | 287 | 287 | 277 | 281 | 290 | 286 | |||||||||||||||||||||||
| CAPITAL | ||||||||||||||||||||||||||||||
| Average equity to average assets | 10.21 | % | 9.95 | % | 9.87 | % | 11.21 | % | 11.05 | % | 10.01 | % | 10.84 | % | ||||||||||||||||
| Book value per share | $ | 5.94 | $ | 5.87 | $ | 5.67 | $ | 6.20 | $ | 6.49 | $ | 5.94 | $ | 6.49 | ||||||||||||||||
| Cash dividend per share | $ | 0.06 | $ | 0.05 | $ | 0.75 | $ | 0.04 | $ | 0.04 | $ | 0.86 | $ | 0.60 | ||||||||||||||||
| ASSET QUALITY | ||||||||||||||||||||||||||||||
| Loan Charge-Offs | $ | 306 | $ | 396 | $ | 112 | $ | 522 | $ | 114 | $ | 814 | $ | 941 | ||||||||||||||||
| Loan Recoveries | $ | 179 | $ | 199 | $ | 188 | $ | 575 | $ | 316 | $ | 566 | $ | 650 | ||||||||||||||||
| Net Charge-Offs | $ | 127 | $ | 197 | $ | (76 | ) | $ | (53 | ) | $ | (202 | ) | $ | 248 | $ | 291 | |||||||||||||
| Allowance for loan and lease losses | $ | 8,010 | $ | 8,137 | $ | 8,334 | $ | 8,458 | $ | 9,405 | $ | 8,010 | $ | 9,405 | ||||||||||||||||
| Nonaccrual Loans | $ | 3,050 | $ | 4,143 | $ | 5,001 | $ | 4,656 | $ | 6,545 | $ | 3,050 | $ | 6,545 | ||||||||||||||||
| Loans 90 days past due | $ | 5 | $ | 3 | $ | 9 | $ | 10 | $ | 32 | $ | 5 | $ | 32 | ||||||||||||||||
| Restructured loans | $ | 9,859 | $ | 10,103 | $ | 10,318 | $ | 14,161 | $ | 15,923 | $ | 9,859 | $ | 15,923 | ||||||||||||||||
| Total non performing loans | $ | 12,914 | $ | 14,249 | $ | 15,328 | $ | 18,827 | $ | 22,500 | $ | 12,914 | $ | 22,500 | ||||||||||||||||
| Other real estate owned & other assets | $ | 1,686 | $ | 1,542 | $ | 1,400 | $ | 1,634 | $ | 1,696 | $ | 1,686 | $ | 1,696 | ||||||||||||||||
| Total non performing assets | $ | 14,600 | $ | 15,791 | $ | 16,728 | $ | 20,461 | $ | 24,196 | $ | 14,600 | $ | 24,196 | ||||||||||||||||
| Classified Loans | $ | 9,206 | $ | 10,599 | $ | 14,030 | $ | 14,971 | $ | 20,151 | $ | 9,206 | $ | 20,151 | ||||||||||||||||
| Other real estate owned & other assets | $ | 1,686 | $ | 1,542 | $ | 1,400 | $ | 1,634 | $ | 1,696 | $ | 1,686 | $ | 1,696 | ||||||||||||||||
| Total classified assets | $ | 10,892 | $ | 12,141 | $ | 15,430 | $ | 16,605 | $ | 21,847 | $ | 10,892 | $ | 21,847 | ||||||||||||||||
| Net loan charge-offs to average loans | 0.07 | % | 0.12 | % | -0.05 | % | -0.03 | % | -0.12 | % | 0.05 | % | 0.06 | % | ||||||||||||||||
| Allowance for loan losses to total loans | 1.15 | % | 1.19 | % | 1.26 | % | 1.30 | % | 1.43 | % | 1.15 | % | 1.43 | % | ||||||||||||||||
| Non performing loans to gross loans | 1.86 | % | 2.08 | % | 2.31 | % | 2.88 | % | 3.43 | % | 1.86 | % | 3.43 | % | ||||||||||||||||
| Non performing assets to total assets | 1.08 | % | 1.19 | % | 1.24 | % | 1.51 | % | 1.80 | % | 1.08 | % | 1.80 | % | ||||||||||||||||
| Classified assets to total capital | 7.59 | % | 8.63 | % | 11.16 | % | 10.95 | % | 14.61 | % | 7.59 | % | 14.61 | % | ||||||||||||||||
| Allowance to non performing loans | 62.03 | % | 57.11 | % | 54.37 | % | 44.92 | % | 41.80 | % | 62.03 | % | 41.80 | % | ||||||||||||||||
| END OF PERIOD BALANCES | ||||||||||||||||||||||||||||||
| Loans and leases | $ | 693,866 | $ | 683,648 | $ | 663,449 | $ | 652,948 | $ | 656,445 | $ | 693,866 | $ | 656,445 | ||||||||||||||||
| Total earning assets | $ | 1,220,844 | $ | 1,201,903 | $ | 1,232,350 | $ | 1,239,439 | $ | 1,232,863 | $ | 1,220,844 | $ | 1,232,863 | ||||||||||||||||
| Total assets | $ | 1,347,352 | $ | 1,326,392 | $ | 1,346,554 | $ | 1,357,283 | $ | 1,343,026 | $ | 1,347,352 | $ | 1,343,026 | ||||||||||||||||
| Deposits | $ | 1,195,335 | $ | 1,177,069 | $ | 1,203,072 | $ | 1,199,717 | $ | 1,180,461 | $ | 1,195,335 | $ | 1,180,461 | ||||||||||||||||
| Interest Bearing Liabilities | $ | 897,408 | $ | 886,474 | $ | 918,126 | $ | 920,716 | $ | 894,697 | $ | 897,408 | $ | 894,697 | ||||||||||||||||
| Shareholders' equity | $ | 135,969 | $ | 134,222 | $ | 129,553 | $ | 141,114 | $ | 147,662 | $ | 135,969 | $ | 147,662 | ||||||||||||||||
| Tier 1 Capital (Bank) | $ | 135,470 | $ | 132,565 | $ | 129,935 | $ | 143,123 | $ | 140,131 | $ | 135,470 | $ | 140,131 | ||||||||||||||||
| Total Shares Outstanding | 22,875,505 | 22,870,082 | 22,860,794 | 22,777,882 | 22,736,116 | 22,875,505 | $ | 22,736,116 | ||||||||||||||||||||||
| AVERAGE BALANCES | ||||||||||||||||||||||||||||||
| Loans and leases | $ | 686,259 | $ | 672,849 | $ | 656,550 | $ | 654,077 | $ | 652,163 | $ | 671,995 | $ | 632,608 | ||||||||||||||||
| Total earning assets | $ | 1,220,620 | $ | 1,215,360 | $ | 1,229,947 | $ | 1,230,134 | $ | 1,234,255 | $ | 1,221,946 | $ | 1,226,871 | ||||||||||||||||
| Total assets | $ | 1,324,723 | $ | 1,316,081 | $ | 1,329,128 | $ | 1,326,623 | $ | 1,329,284 | $ | 1,323,295 | $ | 1,326,739 | ||||||||||||||||
| Deposits | $ | 1,187,768 | $ | 1,183,645 | $ | 1,194,296 | $ | 1,174,024 | $ | 1,178,941 | $ | 1,188,546 | $ | 1,172,441 | ||||||||||||||||
| Interest Bearing Liabilities | $ | 895,376 | $ | 904,581 | $ | 917,125 | $ | 891,510 | $ | 905,082 | $ | 905,615 | $ | 917,300 | ||||||||||||||||
| Shareholders' equity | $ | 135,188 | $ | 131,015 | $ | 131,171 | $ | 148,765 | $ | 146,926 | $ | 132,473 | $ | 143,776 | ||||||||||||||||
| MBT FINANCIAL CORP. | |||||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED | |||||||||||||||||
| Quarter Ended September 30, | Nine Months Ended Date September 30, | ||||||||||||||||
| Dollars in thousands (except per share data) | 2017 | 2016 | 2017 | 2016 | |||||||||||||
| Interest Income | |||||||||||||||||
| Interest and fees on loans | $ | 8,095 | $ | 7,538 | $ | 23,168 | $ | 21,752 | |||||||||
| Interest on investment securities- | |||||||||||||||||
| Tax-exempt | 327 | 316 | 943 | 924 | |||||||||||||
| Taxable | 2,054 | 1,970 | 6,507 | 6,714 | |||||||||||||
| Interest on balances due from banks | 182 | 171 | 392 | 450 | |||||||||||||
| Total interest income | 10,658 | 9,995 | 31,010 | 29,840 | |||||||||||||
| Interest Expense | |||||||||||||||||
| Interest on deposits | 427 | 480 | 1,317 | 1,483 | |||||||||||||
| Interest on borrowed funds | - | - | 3 | 308 | |||||||||||||
| Total interest expense | 427 | 480 | 1,320 | 1,791 | |||||||||||||
| Net Interest Income | 10,231 | 9,515 | 29,690 | 28,049 | |||||||||||||
| Provision For Loan Losses | - | (700 | ) | (200 | ) | (1,200 | ) | ||||||||||
| Net Interest Income After | |||||||||||||||||
| Provision For Loan Losses | 10,231 | 10,215 | 29,890 | 29,249 | |||||||||||||
| Other Income | |||||||||||||||||
| Income from wealth management services | 1,155 | 1,145 | 3,830 | 3,347 | |||||||||||||
| Service charges and other fees | 1,076 | 1,118 | 3,136 | 3,142 | |||||||||||||
| Debit Card income | 719 | 721 | 2,147 | 2,130 | |||||||||||||
| Net gain on sales of securities | 150 | 87 | 227 | 2,159 | |||||||||||||
| Net gain (loss) on other real estate owned | 7 | (4 | ) | (89 | ) | (61 | ) | ||||||||||
| Origination fees on mortgage loans sold | 87 | 149 | 261 | 415 | |||||||||||||
| Bank Owned Life Insurance income | 377 | 352 | 1,130 | 1,069 | |||||||||||||
| Other | 464 | 471 | 1,583 | 1,507 | |||||||||||||
| Total other income | 4,035 | 4,039 | 12,225 | 13,708 | |||||||||||||
| Other Expenses | |||||||||||||||||
| Salaries and employee benefits | 5,313 | 5,514 | 16,020 | 16,531 | |||||||||||||
| Occupancy expense | 694 | 668 | 2,124 | 2,002 | |||||||||||||
| Equipment expense | 783 | 731 | 2,271 | 2,141 | |||||||||||||
| Marketing expense | 375 | 280 | 961 | 825 | |||||||||||||
| Professional fees | 570 | 459 | 1,779 | 1,667 | |||||||||||||
| EFT/ATM expense | 256 | 235 | 763 | 781 | |||||||||||||
| Other real estate owned expense | 33 | 35 | 95 | 129 | |||||||||||||
| FDIC deposit insurance assessment | 107 | 179 | 321 | 539 | |||||||||||||
| Bonding and other insurance expense | 120 | 118 | 367 | 454 | |||||||||||||
| Telephone expense | 83 | 95 | 302 | 312 | |||||||||||||
| Other | 616 | 660 | 2,017 | 1,948 | |||||||||||||
| Total other expenses | 8,950 | 8,974 | 27,020 | 27,329 | |||||||||||||
| Profit Before Income Taxes | 5,316 | 5,280 | 15,095 | 15,628 | |||||||||||||
| Income Tax Expense | 1,383 | 1,593 | 4,342 | 4,705 | |||||||||||||
| Net Profit | $ | 3,933 | $ | 3,687 | $ | 10,753 | $ | 10,923 | |||||||||
| Basic Earnings Per Common Share | $ | 0.17 | $ | 0.16 | $ | 0.47 | $ | 0.48 | |||||||||
| Diluted Earnings Per Common Share | $ | 0.17 | $ | 0.16 | $ | 0.47 | $ | 0.48 | |||||||||
| Dividends Declared Per Common Share | $ | 0.06 | $ | 0.04 | $ | 0.86 | $ | 0.60 | |||||||||
| MBT FINANCIAL CORP. | ||||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||||
| (Unaudited) | ||||||||||
| Dollars in thousands | September 30, 2017 | December 31, 2016 | ||||||||
| Assets | ||||||||||
| Cash and Cash Equivalents | ||||||||||
| Cash and due from banks | ||||||||||
| Non-interest bearing | $ | 21,959 | $ | 18,183 | ||||||
| Interest bearing | 6,532 | 34,589 | ||||||||
| Total cash and cash equivalents | 28,491 | 52,772 | ||||||||
| Interest Bearing Time Deposits in Other Banks | 16,946 | 18,946 | ||||||||
| Securities - Held to Maturity | 34,029 | 40,741 | ||||||||
| Securities - Available for Sale | 465,323 | 488,067 | ||||||||
| Federal Home Loan Bank stock - at cost | 4,148 | 4,148 | ||||||||
| Loans held for sale | - | 611 | ||||||||
| Loans | 693,866 | 652,337 | ||||||||
| Allowance for Loan Losses | (8,010 | ) | (8,458 | ) | ||||||
| Loans - Net | 685,856 | 643,879 | ||||||||
| Accrued interest receivable and other assets | 24,416 | 24,901 | ||||||||
| Other Real Estate Owned | 1,646 | 1,634 | ||||||||
| Bank Owned Life Insurance | 59,594 | 54,415 | ||||||||
| Premises and Equipment - Net | 26,903 | 27,169 | ||||||||
| Total assets | $ | 1,347,352 | $ | 1,357,283 | ||||||
| Liabilities | ||||||||||
| Deposits: | ||||||||||
| Non-interest bearing | $ | 297,927 | $ | 279,001 | ||||||
| Interest-bearing | 897,408 | 920,716 | ||||||||
| Total deposits | 1,195,335 | 1,199,717 | ||||||||
| Accrued interest payable and other liabilities | 16,048 | 16,452 | ||||||||
| Total liabilities | 1,211,383 | 1,216,169 | ||||||||
| Shareholders' Equity | ||||||||||
| Common stock (no par value) | 22,718 | 22,562 | ||||||||
| Retained Earnings | 117,773 | 126,079 | ||||||||
| Unearned Compensation | (20 | ) | (4 | ) | ||||||
| Accumulated other comprehensive loss | (4,502 | ) | (7,523 | ) | ||||||
| Total shareholders' equity | 135,969 | 141,114 | ||||||||
| Total liabilities and shareholders' equity | $ | 1,347,352 | $ | 1,357,283 | ||||||
FOR FURTHER INFORMATION:
H. Douglas Chaffin
Chief Executive Officer
(734) 384-8123
doug.chaffin@mbandt.com
John L. Skibski
Chief Financial Officer
(734) 242-1879
john.skibski@mbandt.com
Julian J. Broggio
Director of Marketing
(734) 240-2341
julian.broggio@mbandt.com
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