See more : Avanti Acquisition Corp. Redeem (AVAN-WT) Income Statement Analysis – Financial Results
Complete financial analysis of Macatawa Bank Corporation (MCBC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Macatawa Bank Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.
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Macatawa Bank Corporation (MCBC)
About Macatawa Bank Corporation
Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides commercial and consumer banking and trust services. The company accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts, certificates of deposit, and demand deposits. Its loan products include commercial and industrial loans comprising loans to finance operations and equipment; commercial real estate loans, which consist of construction and development, multi-family, and other non-residential real estate loans; and residential mortgage loans, as well as consumer loans, including automobile loans, home equity lines of credit and installment loans, home improvement loans, deposit account loans, and other loans for household and personal purposes. The company also offers ATM and debit card processing, cash management, trust, and brokerage services. In addition, it provides fraud protection; collection services; disbursement solutions; fund management; and investment and retirement plan services. It serves individuals, businesses, associations, churches, nonprofit organizations, financial institutions, and government authorities. As of December 31, 2021, the company had 26 full-service branches in Kent, Ottawa, and northern Allegan counties, Michigan. Macatawa Bank Corporation was incorporated in 1997 and is based in Holland, Michigan.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 132.25M | 13.67M | 79.76M | 85.51M | 83.22M | 77.13M | 69.36M | 66.61M | 61.87M | 57.61M | 57.42M | 63.09M | 61.19M | 68.59M | 69.49M | 76.28M | 79.01M | 81.59M | 75.84M | 62.06M | 51.74M | 41.67M | 25.44M | 18.65M | 12.10M | 2.71M |
| Cost of Revenue | 113.81M | 0.00 | 0.00 | 0.00 | 0.00 | 1.20M | 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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 18.44M | 13.67M | 79.76M | 85.51M | 83.22M | 75.93M | 69.36M | 66.61M | 61.87M | 57.61M | 57.42M | 63.09M | 61.19M | 68.59M | 69.49M | 76.28M | 79.01M | 81.59M | 75.84M | 62.06M | 51.74M | 41.67M | 25.44M | 18.65M | 12.10M | 2.71M |
| Gross Profit Ratio | 13.94% | 100.00% | 100.00% | 100.00% | 100.00% | 98.44% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 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 | 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 |
| General & Administrative | 30.43M | 27.50M | 25.97M | 25.93M | 24.92M | 25.73M | 25.34M | 25.65M | 25.81M | 24.36M | 24.47M | 25.18M | 36.92M | 38.14M | 43.41M | 26.55M | 25.50M | 24.79M | 22.39M | 19.21M | 16.37M | 12.84M | 8.36M | 6.86M | 5.41M | 0.00 |
| Selling & Marketing | 803.00K | 803.00K | 723.00K | 891.00K | 919.00K | 881.00K | 882.00K | 1.00M | 951.00K | 932.00K | 870.00K | 929.00K | 834.00K | 835.00K | 907.00K | 991.00K | 1.26M | 1.08M | 1.63M | 1.21M | 946.00K | 722.00K | 537.00K | 365.76K | 266.92K | 198.83K |
| SG&A | 31.23M | 28.30M | 25.97M | 25.93M | 24.92M | 25.73M | 25.34M | 25.65M | 25.81M | 24.36M | 24.47M | 25.18M | 37.76M | 38.98M | 44.32M | 27.54M | 26.76M | 25.87M | 24.01M | 20.42M | 17.32M | 13.56M | 8.90M | 7.23M | 5.67M | 198.83K |
| Other Expenses | -14.56M | -13.82M | -70.01M | -74.66M | -68.69M | -64.20M | -61.95M | -65.12M | -63.95M | -61.32M | -60.74M | -61.55M | -78.64M | -98.68M | -142.96M | -93.10M | -16.31M | -12.41M | -26.55M | -37.40M | -29.15M | -18.17M | -5.80M | -4.10M | -7.65M | -2.20M |
| Operating Expenses | 14.56M | 803.00K | -44.04M | -48.73M | -43.77M | -34.17M | -36.61M | -39.47M | -38.15M | -36.96M | -36.27M | -36.37M | -40.88M | -59.71M | -98.65M | -65.56M | 10.45M | 13.46M | -2.54M | -16.98M | -11.83M | -4.61M | 3.10M | 3.14M | -1.98M | -2.00M |
| Cost & Expenses | 78.51M | 803.00K | -44.04M | -48.73M | -43.77M | -34.17M | -36.61M | -39.47M | -38.15M | -36.96M | -36.27M | -36.37M | -40.88M | -59.71M | -98.65M | -65.56M | 10.45M | 13.46M | -2.54M | -16.98M | -11.83M | -4.61M | 3.10M | 3.14M | -1.98M | -2.00M |
| Interest Income | 113.81M | 74.91M | 58.63M | 67.22M | 75.94M | 69.04M | 57.68M | 52.50M | 49.39M | 46.99M | 48.62M | 57.28M | 60.78M | 76.00M | 95.88M | 116.08M | 139.37M | 133.51M | 105.40M | 78.33M | 64.44M | 57.25M | 42.69M | 34.34M | 20.00M | 6.80M |
| Interest Expense | 634.00K | 4.76M | 2.57M | 5.69M | 12.46M | 9.41M | 5.73M | 4.96M | 5.31M | 5.60M | 7.34M | 9.81M | 14.48M | 25.44M | 43.09M | 57.94M | 76.46M | 66.09M | 42.56M | 26.31M | 22.34M | 22.90M | 20.93M | 17.74M | 9.43M | 3.19M |
| Depreciation & Amortization | 2.10M | 2.30M | 2.50M | 2.44M | 2.49M | 2.49M | 2.61M | 2.81M | 2.97M | 3.14M | 3.07M | 2.97M | 3.12M | 2.96M | 3.69M | 3.88M | 3.70M | 3.39M | 3.10M | 2.97M | 2.70M | 2.37M | 1.47M | 1.23M | 736.69K | 271.46K |
| EBITDA | 53.75M | 49.38M | 38.45M | 39.41M | 41.65M | 44.32M | 35.04M | 29.95M | 26.70M | 23.78M | 24.22M | 29.69M | 23.43M | 11.84M | -25.46M | 14.60M | 93.16M | 98.44M | 76.40M | 48.05M | 42.61M | 39.44M | 30.01M | 23.02M | 10.86M | 973.14K |
| EBITDA Ratio | 40.64% | 361.16% | 48.20% | 46.09% | 50.05% | 57.47% | 50.52% | 44.95% | 43.14% | 41.28% | 42.18% | 47.06% | 38.28% | 17.26% | -36.64% | 19.14% | 117.91% | 120.65% | 100.74% | 77.43% | 82.36% | 94.63% | 117.97% | 123.42% | 89.73% | 35.96% |
| Operating Income | 53.75M | 47.82M | 35.72M | 36.79M | 39.44M | 41.76M | 32.76M | 27.14M | 23.73M | 20.64M | 21.16M | 26.72M | 20.31M | 8.89M | -29.16M | 10.72M | 89.46M | 95.06M | 73.30M | 45.08M | 39.91M | 37.07M | 28.54M | 21.79M | 10.12M | 701.69K |
| Operating Income Ratio | 40.64% | 349.77% | 44.79% | 43.02% | 47.40% | 54.14% | 47.23% | 40.74% | 38.35% | 35.83% | 36.84% | 42.35% | 33.19% | 12.95% | -41.96% | 14.05% | 113.22% | 116.50% | 96.65% | 72.64% | 77.14% | 88.95% | 112.18% | 116.81% | 83.64% | 25.93% |
| Total Other Income/Expenses | -1.32M | -789.00K | -749.00K | -515.00K | -492.00K | -587.00K | -604.00K | -1.78M | -4.17M | -4.81M | -6.98M | -12.48M | -14.48M | -25.44M | -43.09M | -57.94M | -76.46M | -39.17M | -42.56M | -26.31M | -22.34M | -32.11M | -14.73M | -11.47M | 0.00 | 0.00 |
| Income Before Tax | 53.75M | 43.06M | 35.72M | 36.79M | 39.44M | 32.35M | 27.03M | 22.18M | 18.42M | 15.05M | 13.82M | 16.91M | 5.83M | -16.55M | -72.24M | -47.23M | 13.01M | 28.97M | 30.74M | 18.77M | 17.57M | 14.17M | 7.61M | 4.05M | 0.00 | 0.00 |
| Income Before Tax Ratio | 40.64% | 314.96% | 44.79% | 43.02% | 47.40% | 41.94% | 38.96% | 33.30% | 29.77% | 26.12% | 24.06% | 26.80% | 9.53% | -24.13% | -103.96% | -61.92% | 16.46% | 35.50% | 40.54% | 30.25% | 33.96% | 33.99% | 29.92% | 21.70% | 0.00% | 0.00% |
| Income Tax Expense | 10.52M | 8.33M | 6.71M | 6.62M | 7.46M | 5.97M | 10.73M | 6.23M | 5.63M | 4.57M | 4.27M | -18.58M | -8.60M | 1.30M | -8.60M | -8.37M | 3.74M | 9.14M | 9.85M | 6.00M | 5.79M | 4.65M | 2.50M | 699.26K | 9.43M | 3.19M |
| Net Income | 43.22M | 34.73M | 29.01M | 30.17M | 31.98M | 26.38M | 16.29M | 15.95M | 12.79M | 10.47M | 9.55M | 35.49M | 5.83M | -17.85M | -63.64M | -38.85M | 9.27M | 19.83M | 20.89M | 12.78M | 11.78M | 9.51M | 5.12M | 3.35M | 693.27K | -2.49M |
| Net Income Ratio | 32.68% | 254.01% | 36.37% | 35.28% | 38.43% | 34.20% | 23.49% | 23.95% | 20.68% | 18.18% | 16.63% | 56.25% | 9.53% | -26.03% | -91.58% | -50.94% | 11.73% | 24.30% | 27.54% | 20.59% | 22.77% | 22.83% | 20.11% | 17.95% | 5.73% | -91.97% |
| EPS | 1.26 | 1.01 | 0.85 | 0.88 | 0.94 | 0.78 | 0.48 | 0.47 | 0.38 | 0.31 | -0.29 | 1.31 | 0.26 | -1.01 | -3.65 | -2.28 | 0.54 | 1.11 | 0.79 | 0.42 | 0.67 | 0.59 | 0.50 | 0.41 | 0.10 | -0.54 |
| EPS Diluted | 1.26 | 1.01 | 0.85 | 0.88 | 0.94 | 0.78 | 0.48 | 0.47 | 0.38 | 0.31 | -0.29 | 1.31 | 0.26 | -1.01 | -3.65 | -2.28 | 0.54 | 1.09 | 0.77 | 0.42 | 0.66 | 0.58 | 0.49 | 0.41 | 0.10 | -0.54 |
| Weighted Avg Shares Out | 34.36M | 34.26M | 34.20M | 34.12M | 34.06M | 34.02M | 33.95M | 33.92M | 33.87M | 33.80M | 27.16M | 27.09M | 22.74M | 17.69M | 17.45M | 17.03M | 17.11M | 17.80M | 26.56M | 30.33M | 17.55M | 16.22M | 10.33M | 8.09M | 7.08M | 4.58M |
| Weighted Avg Shares Out (Dil) | 34.36M | 34.26M | 34.20M | 34.12M | 34.06M | 34.02M | 33.95M | 33.92M | 33.87M | 33.80M | 27.16M | 27.09M | 22.74M | 17.69M | 17.45M | 17.04M | 17.28M | 18.27M | 27.26M | 30.91M | 17.82M | 16.48M | 10.43M | 8.19M | 7.08M | 4.58M |
Macatawa Bank Corporation Announces Special Meeting Results
HOLLAND, Mich., July 31, 2024 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the “Company”), today announced that at the Special Meeting of Shareholders (the “Special Meeting”) held earlier today, Macatawa shareholders overwhelmingly...
MACATAWA BANK INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Macatawa Bank Corporation - MCBC
NEW ORLEANS , July 2, 2024 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq.
MACATAWA BANK INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Macatawa Bank Corporation - MCBC
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of the sale of Macatawa Bank Corporation (NasdaqGS: MCBC) to Wintrust Financial...
SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Announces An Investigation of Macatawa Bank Corp. - MCBC
NEW YORK , April 26, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are...
Macatawa Bank (MCBC) Q1 Earnings and Revenues Miss Estimates
Macatawa Bank (MCBC) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.35 per share a year ago.
Macatawa Bank Corporation Declares Quarterly Dividend
HOLLAND, Mich., April 25, 2024 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (Nasdaq: MCBC) (the "Company" or "Macatawa") today announced that its Board of Directors has declared a quarterly cash dividend of $0.09 per share on its common stock to be...
Macatawa Bank Corporation Reports First Quarter 2024 Results
HOLLAND, Mich., April 25, 2024 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the “Company”), today announced its results for the first quarter 2024.
MACATAWA BANK INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Macatawa Bank Corporation - MCBC
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of the sale of Macatawa Bank Corporation (NasdaqGS: MCBC) to Wintrust Financial...
Macatawa (MCBC) Moves 37.7% Higher: Will This Strength Last?
Macatawa (MCBC) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Shareholder Alert: Ademi LLP investigates whether Macatawa Bank Corporation has obtained a Fair Price in its transaction with Wintrust
MILWAUKEE , April 16, 2024 /PRNewswire/ -- Ademi LLP is investigating Macatawa (Nasdaq: MCBC) for possible breaches of fiduciary duty and other violations of law in its transaction with Wintrust. Click here to learn how to join the https://www.ademilaw.com/case/macatawa-bank-corporation or...
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