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ytrewq

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MB&T!
« on: October 10, 2018, 09:38:50 AM »

RIP MB&T

http://www.monroenews.com/news/20181010/monroe-bank--trust-to-merge-with-first-merchants-bank

Betting that nice big building downtown will be vacant within a few years.
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SidecarFlip

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Re: MB&T!
« Reply #1 on: October 10, 2018, 11:16:20 AM »

I don't understand why.  The article was very vague.  I'm thinking that MB&T has cash flow issues.  The new suitor isn't even local.  Muncie, Indiana.

On the building, bet you are correct.  Another vacant building in downtown Monroe.
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Maverick

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Re: MB&T!
« Reply #2 on: October 10, 2018, 12:23:24 PM »

I knew it was coming but thought surely the value would be higher. I doubt they will abandon the headquarters.
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SidecarFlip

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Re: MB&T!
« Reply #3 on: October 10, 2018, 01:05:52 PM »

Have my business account there but thats it.  Paper didn't state any value that I saw.
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Maverick

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Re: MB&T!
« Reply #4 on: October 10, 2018, 01:57:20 PM »

My loan officer called me before the news broke. Said it valued at $12.50.
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Monroe Native

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Re: MB&T!
« Reply #5 on: October 10, 2018, 07:33:58 PM »

And now only La Z Boy is left....

Hope they don't abandon their shiny new building.
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SidecarFlip

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Re: MB&T!
« Reply #6 on: October 10, 2018, 08:03:41 PM »

And now only La Z Boy is left....

Hope they don't abandon their shiny new building.

They might when the Chinese buy them.....  lol

Isn't Tenneco still here (Monroe Shock)?
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ytrewq

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Re: MB&T!
« Reply #7 on: October 10, 2018, 11:00:20 PM »

Technically they are headquartered in Lake Forest, IL.
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blue2

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Re: MB&T!
« Reply #8 on: October 11, 2018, 10:08:17 AM »

I was going to say being from Indiana won't be all bad.  Kind of same values as the rest of the midwestern.  But Illinois is different.  Bunch of gangster politicians there.
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Monroe Native

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Re: MB&T!
« Reply #9 on: October 11, 2018, 07:24:37 PM »

I had heard that Tenneco was going to move the Monroe Operations - or at least a big chunk of it - to Plymouth.
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I have learned that only two things are necessary to keep one's wife happy. First, let her think she's having her own way. And second, let her have it.
Lyndon B. Johnson

You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
Lyndon B. Johnson

SidecarFlip

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Re: MB&T!
« Reply #10 on: October 11, 2018, 09:32:29 PM »

Monroe is loosing it tax base...rather quickly.
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ytrewq

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Re: MB&T!
« Reply #11 on: October 12, 2018, 11:59:13 AM »

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Professor H

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Re: MB&T!
« Reply #12 on: October 16, 2018, 07:54:23 PM »

So it was a good buy at 9...   didn't think a takeover would happen - just thought after the dumping of all their foreclosures - it had to be better positioned.     I didn't get in when it bottomed out - but then again I know people who had it at much higher...  ouch! 

The downtown facility is very nice - Don't see the new company supporting the fair and all as no one will recognize the new name...   
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SidecarFlip

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Re: MB&T!
« Reply #13 on: October 16, 2018, 08:21:28 PM »

I don't see the new company supporting anything actually.  I wonder how buggered up the banking end will be.  I have a commercial account with MB&T.

Way beck when in Cleveland, I remember Cleveland Trust Corp going exactly the way MB&T is going.  They don't even exist today.,

I think Chaffin or whatever his name is, is FOS.  I think a lot of people are going to get hurt financially and job wise.
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Professor H

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Re: MB&T!
« Reply #14 on: October 17, 2018, 06:55:46 PM »

Certain jobs will be gone...  as I've heard some have been given notice.     will take a few years to see if they keep all the branches -and the "Headquarters"...   
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First, it was not a strip bar, it was an erotic club. And second, what can I say? I'm a night owl.
Marion Berry

But we have to pass the bill so you can find out what is in it, away from the fog of the controversy.
Nancy Pelosi
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