Coal Power, La-Z-Boy, and the Port of Monroe: Is The Michigan County of Monroe the Best Place for a Bank in America?

February 13, 2018

H. Douglas Chaffin has been President and CEO of Monroe Bank & Trust and MBT Financial Corp. since April of 2004, and is responsible for all aspects of the bank’s performance. Before joining MBT in July of 2001, Mr. Chaffin held executive positions with Huntington National Bank and First Michigan Bank Corporation in western Michigan. Since graduating from Indiana University with a Bachelor of Science degree in finance, Mr. Chaffin has been active in the banking industry and community. He currently serves as Chairman of the Monroe County Business Development Corporation, Chairman of the River Raisin National Battlefield Park Foundation, and serves on the boards of the Foundation at Monroe County Community College and the Michigan Chamber of Commerce.

John Skibski is Executive Vice President, Chief Financial Officer and Director of Risk Management of Monroe Bank & Trust and MBT Financial Corp. He joined Monroe Bank & Trust in 1994. He is a member of the board of directors of the bank and its parent company, MBT Financial Corp. He is a graduate of the University of Toledo, earning Bachelor of Business Administration and Master of Business Administration degrees. Mr. Skibski has also represented Michigan members of the Federal Home Loan Bank of Indianapolis by serving as a member of the FHLBI board of directors since 2008.

In their exclusive interview with the Wall Street Transcript, these two top banking executives discuss the power of a bank headquartered in what may be the best economy in America.

“The Port of Monroe, which is headquartered in Monroe, is the only port in the state of Michigan. Due to the activity in that area, its tonnage of shipping has increased, almost tripled, in recent years…And DTE Energy (NYSE:DTE) is headquartered in Detroit. However, 45% of the coal power that is generated by DTE Energy comes out of Monroe. So Monroe has a strong corporate presence from a number of corporations. La-Z-Boy Incorporated (NYSE:LZB) is headquartered in Monroe and just recently completed a 200,000-square-foot world headquarters in 2015.”

Read the complete interview with John Skibski and H. Douglas Chaffin in the Wall Street Transcript.