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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 |
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