Macatawa bank corp (MCBC)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income
Loans, including fees

14,851

15,430

15,604

16,125

16,450

15,784

14,952

14,406

13,710

13,269

12,804

12,540

12,455

12,172

11,838

11,634

11,756

11,492

11,250

11,152

10,963

10,782

10,639

10,547

10,943

11,045

10,995

11,493

11,668

12,254

15,532

13,237

13,526

14,060

14,498

15,194

15,582

18,227

18,824

Securities
Taxable

1,061

912

968

988

996

986

945

917

868

843

741

646

639

623

584

565

550

534

529

501

501

503

504

499

500

446

476

448

428

428

414

384

318

-

156

85

-

-

-

Tax-exempt

882

895

919

865

839

837

846

905

876

586

574

546

538

494

451

441

433

443

394

376

344

333

309

264

255

234

211

155

142

121

102

65

42

-

10

0

-

-

-

FHLB Stock

124

139

158

157

160

130

130

121

197

124

122

121

124

123

122

122

124

124

120

111

117

106

105

104

156

99

98

97

99

98

84

84

85

-

-

-

-

-

-

Taxable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

-

-

Tax-exempt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

Securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

581

FHLB Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

73

74

76

46

60

Federal funds sold and other short-term investments

576

1,059

1,430

1,104

744

758

814

487

368

338

385

189

92

84

127

111

145

117

134

98

86

92

117

114

116

137

139

114

96

107

137

130

128

148

163

137

168

150

72

Total interest income

17,494

18,435

19,079

19,239

19,189

18,495

17,687

16,836

16,019

15,160

14,626

14,042

13,848

13,496

13,122

12,873

13,008

12,710

12,427

12,238

12,011

11,816

11,674

11,528

11,970

11,961

11,919

12,307

12,433

13,008

16,269

13,900

14,099

14,536

14,900

15,490

15,853

18,444

19,537

Interest expense
Deposits

1,603

1,890

2,343

2,365

2,256

1,959

1,609

1,319

994

842

732

557

481

438

431

439

463

460

521

610

619

602

614

620

740

972

953

982

1,086

1,150

1,396

1,525

1,650

1,841

2,104

2,416

2,912

4,024

4,691

Other borrowings

349

348

349

345

327

-

364

322

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term debt

239

521

551

574

586

-

552

542

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other borrowings

-

-

-

-

-

-

-

-

369

353

314

358

382

367

418

458

442

449

449

452

415

427

425

426

431

45

842

444

450

-828

981

1,053

1,168

-321

1,295

1,292

1,343

1,983

2,028

Long-term debt

-

-

-

-

-

-

-

-

474

447

442

422

402

399

371

368

365

-

336

331

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Subordinated and long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

325

-

331

326

324

731

0

418

414

-

-

-

-

-

-

-

-

-

-

Total interest expense

2,191

2,759

3,243

3,284

3,169

2,866

2,525

2,183

1,837

1,642

1,488

1,337

1,265

1,204

1,220

1,265

1,270

1,248

1,306

1,393

1,359

1,359

1,370

1,372

1,495

1,748

1,795

1,844

1,950

2,041

2,377

2,578

2,818

3,118

3,399

3,708

4,255

6,007

6,719

Net interest income

15,303

15,676

15,836

15,955

16,020

15,629

15,162

14,653

14,182

13,518

13,138

12,705

12,583

12,292

11,902

11,608

11,738

11,462

11,121

10,845

10,652

10,457

10,304

10,156

10,475

10,213

10,124

10,463

10,483

10,967

13,892

11,322

11,281

11,418

11,501

11,782

11,598

12,437

12,818

Provision for loan losses

700

0

0

-200

-250

850

0

-300

-100

0

-350

-500

-500

-250

-250

-750

-100

-1,750

-250

-500

-1,000

-600

-750

-1,000

-1,000

-1,000

-1,500

-1,000

-750

-500

-1,250

-1,750

-3,600

0

-1,250

-2,000

-1,450

550

1,800

Net interest income after provision for loan losses

14,603

15,676

15,836

16,155

16,270

14,779

15,162

14,953

14,282

13,518

13,488

13,205

13,083

12,542

12,152

12,358

11,838

13,212

11,371

11,345

11,652

11,057

11,054

11,156

11,475

11,213

11,624

11,463

11,233

11,467

15,142

13,072

14,881

11,418

12,751

13,782

13,048

11,887

11,018

Noninterest income
The non-interest income earned through service charges and fees for deposit related services.

1,110

1,148

1,139

1,078

1,050

1,136

1,132

1,060

1,049

-

1,172

1,110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service charges and fees

-

-

-

-

-

-

-

-

-

-

-

-

1,060

1,114

1,152

1,112

1,047

1,129

1,150

1,097

1,001

1,115

1,163

1,065

991

1,088

1,072

1,017

952

1,090

810

776

795

885

889

969

949

1,097

1,063

Net gains on mortgage loans

650

698

824

614

211

291

270

222

141

301

369

476

428

790

1,175

572

487

676

705

821

723

534

679

468

258

409

612

708

825

691

940

780

471

334

697

262

435

345

399

The non-interest income earned through trust fees.

935

999

920

1,003

890

884

889

945

925

-

801

833

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amount of fees earned on ATM and Bank-issued debit card transactions.

1,337

1,477

1,469

1,481

1,326

1,417

1,426

1,414

1,278

-

1,324

1,338

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Trust fees

-

-

-

-

-

-

-

-

-

-

-

-

778

810

790

788

708

759

711

723

734

700

669

701

631

616

584

625

588

587

595

598

609

628

644

620

651

695

797

ATM and debit card fees

-

-

-

-

-

-

-

-

-

-

-

-

1,201

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ATM and debit card fees

-

-

-

-

-

-

-

-

-

-

-

-

-

1,265

1,272

1,257

1,186

1,201

1,220

1,219

1,110

1,229

1,170

1,203

1,052

1,113

1,104

1,132

976

1,036

1,049

1,064

981

1,005

1,013

1,027

918

962

957

Gain on sale of securities

0

-

0

0

0

-

0

0

0

0

0

0

3

25

0

10

89

10

36

0

83

24

0

41

10

39

0

61

20

0

14

59

0

-

0

0

-

0

2,715

Earnings in bank-owned life insurance

242

235

252

249

236

228

239

237

238

239

249

243

238

229

146

158

444

160

170

171

162

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

685

532

609

673

615

448

543

590

501

537

385

478

523

622

540

639

647

567

492

481

482

53

622

590

568

751

579

668

602

407

698

723

855

818

684

738

726

627

391

Total noninterest income

4,959

5,089

5,213

5,098

4,328

4,404

4,499

4,468

4,132

4,410

4,300

4,478

4,231

4,855

5,075

4,536

4,608

4,502

4,484

4,512

4,295

4,333

4,303

4,068

3,510

4,016

3,951

4,211

3,963

3,811

4,106

4,000

3,711

3,670

3,927

3,616

3,679

3,726

6,322

Noninterest expense
Salaries and benefits

6,691

5,784

6,272

6,379

6,244

6,264

6,360

6,389

6,194

6,440

6,211

6,153

5,999

6,346

6,166

6,168

6,187

6,194

6,158

6,134

6,182

5,960

5,810

5,544

5,823

5,652

5,834

5,732

5,794

5,922

5,621

5,723

5,720

5,602

5,668

5,600

5,347

5,546

5,554

Occupancy of premises

1,009

939

966

996

1,093

947

939

973

1,072

925

922

991

1,026

1,005

901

901

982

891

948

903

972

1,003

897

932

1,008

997

908

905

946

955

948

941

971

988

961

989

1,011

1,026

989

Furniture and equipment

855

823

887

866

844

787

760

773

805

771

797

750

732

780

772

839

865

806

835

813

783

796

803

751

840

811

819

845

749

767

806

858

828

860

812

829

817

854

888

Legal and professional

291

300

211

211

230

201

188

215

202

191

199

197

225

363

153

188

159

172

231

191

239

207

196

238

205

116

192

183

189

112

160

180

212

192

187

322

270

343

391

Marketing and promotion

238

230

228

233

228

195

228

229

229

204

226

225

227

175

275

275

275

120

263

263

305

243

264

272

277

252

245

246

247

296

213

210

210

158

228

224

224

214

215

Data processing

760

754

735

761

730

747

747

797

695

691

655

731

682

699

741

688

659

639

619

648

577

616

635

583

589

601

570

589

546

1,233

269

368

351

332

314

334

304

272

327

FDIC assessment

0

0

0

119

120

127

127

132

132

135

134

134

136

141

166

220

251

284

283

289

281

283

287

320

328

325

317

345

471

503

504

479

710

811

842

841

978

1,232

1,192

Costs associated with interchange and other card expense.

347

357

347

365

345

357

361

359

332

336

333

324

313

358

334

308

286

286

304

285

276

285

288

265

271

333

315

361

291

-

-

-

-

-

-

-

-

-

-

ATM and debit card processing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

316

308

288

287

337

311

271

275

264

Bond and D&O Insurance

105

103

103

103

104

109

111

110

110

117

119

118

117

132

132

131

132

146

147

146

145

167

166

163

163

184

187

183

186

213

213

215

268

376

379

378

379

556

553

The net gain (loss) resulting from repossessed and foreclosed properties.

-31

-45

0

34

35

656

-26

-17

-406

-147

190

300

85

91

-115

-258

-36

-

160

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FHLB Advance prepayment penalty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

322

-

-

-

0

-

-

-

-

Net losses (gains) on repossessed and foreclosed properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-31

451

-

449

371

-186

413

1,059

294

59

1,059

706

1,934

1,596

1,213

2,544

2,121

2,493

1,418

850

Administration and disposition of problem assets

30

94

46

49

88

73

82

66

55

58

113

142

180

190

210

202

375

328

393

284

376

487

412

516

657

1,040

752

1,005

902

929

1,018

1,256

1,462

1,728

1,941

1,620

1,941

1,802

1,614

Other

1,365

1,214

1,214

1,286

1,247

1,246

1,310

1,199

1,202

1,237

1,237

1,327

1,336

1,390

1,308

1,292

1,344

1,358

1,233

1,297

1,275

1,702

1,182

1,283

1,194

1,313

1,164

1,187

1,201

603

1,292

1,414

1,491

1,456

1,413

1,428

1,401

1,372

1,452

Total noninterest expenses

11,722

10,643

11,009

11,334

11,238

10,397

11,239

11,259

11,434

11,252

10,756

10,792

10,888

11,488

11,273

11,470

11,551

12,615

11,254

11,222

11,862

12,114

11,389

11,238

11,169

12,037

12,362

11,875

11,581

12,902

12,388

13,886

14,107

14,003

15,626

14,997

15,436

14,910

14,289

Income before income tax

7,840

10,122

10,040

9,919

9,360

8,786

8,422

8,162

6,980

6,676

7,032

6,891

6,426

5,909

5,954

5,424

4,895

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income before income tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,601

4,635

4,085

-

3,968

3,986

3,816

3,192

3,213

3,799

3,615

2,376

6,860

3,186

4,485

1,085

1,052

2,401

1,291

703

3,051

Income tax expense

1,429

1,950

1,882

1,916

1,714

1,742

1,570

1,434

1,225

4,481

2,157

2,129

1,966

1,802

1,350

1,679

1,400

1,561

1,400

1,420

1,245

959

1,206

1,231

1,177

957

975

1,196

1,142

-18,858

275

0

0

0

0

0

0

0

1,303

Net income

6,411

8,172

8,158

8,003

7,646

7,044

6,852

6,728

5,755

2,195

4,875

4,762

4,460

4,107

4,604

3,745

3,495

3,538

3,201

3,215

2,840

2,317

2,762

2,755

2,639

2,235

2,238

2,603

2,473

21,234

6,585

3,186

4,485

1,085

1,052

2,401

1,291

703

1,748

Dividends declared on preferred shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

0

0

Net income available to common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,238

2,603

2,473

21,234

6,585

3,186

4,485

1,085

1,052

2,401

1,291

703

1,748

Basic earnings per common share (in dollars per share)

0.19

0.24

0.24

0.24

0.22

0.21

0.20

0.20

0.17

0.07

0.14

0.14

0.13

0.12

0.14

0.11

0.10

0.12

0.09

0.09

0.08

0.07

0.08

0.08

0.08

-0.56

0.08

0.10

0.09

0.78

0.24

0.12

0.17

0.02

0.04

0.13

0.07

0.04

0.10

Diluted earnings per common share (in dollars per share)

0.19

0.24

0.24

0.24

0.22

0.21

0.20

0.20

0.17

0.07

0.14

0.14

0.13

0.12

0.14

0.11

0.10

0.12

0.09

0.09

0.08

0.07

0.08

0.08

0.08

-0.56

0.08

0.10

0.09

0.78

0.24

0.12

0.17

0.02

0.04

0.13

0.07

0.04

0.10

Cash dividends per common share (in dollars per share)

0.08

0.07

0.07

0.07

0.07

0.07

0.06

0.06

0.06

0.05

0.05

0.04

0.04

0.03

0.03

0.03

0.03

0.03

0.03

0.03

0.02

-

0.02

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash dividends per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.02

0.02

-

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00