ompany-overview

Investor Relations

Financial Statements : Macatawa Bank Corporation

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 3/31/2018 USD 2018 Q1 YTD 3/31/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 3/31/2018 USD 2018 Q1 YTD 3/31/2018 USD

ASSETS

Cash and due from banks 31,503 29,104 27,690 34,945 26,954
Federal funds sold and other short-term investments 97,952 152,372 62,129 126,522 103,898
Cash and cash equivalents 129,455 181,476 89,819 161,467 130,852
Interest-bearing time deposits in other financial institutions 20,000 20,000 NA NA NA
Debt securities available for sale, at fair value 161,874 166,815 184,433 220,720 214,269
Debt securities held to maturity 31,585 51,856 69,378 85,827 90,513
Federal Home Loan Bank (FHLB) stock 11,238 11,558 11,558 11,558 11,558
Loans held for sale, at fair value 2,347 2,776 2,181 1,208 0
Total loans 1,118,483 1,197,932 1,280,812 1,320,309 1,325,545
Allowance for loan losses (18,962) (17,081) (16,962) (16,600) (16,675)
Net loans 1,099,521 1,180,851 1,263,850 1,303,709 1,308,870
Premises and equipment - net 52,894 51,456 50,026 46,629 46,110
Accrued interest receivable 3,399 3,622 4,092 4,680 5,200
Bank-owned life insurance 28,195 28,858 39,274 40,243 40,494
Other real estate owned - net 28,242 17,572 12,253 5,767 5,223
Net deferred tax asset 12,265 8,819 8,863 3,785 3,982
Other assets 2,831 3,984 5,286 4,639 6,709
Total assets 1,583,846 1,729,643 1,741,013 1,890,232 1,863,780

LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits

Noninterest-bearing 404,143 477,032 501,478 490,583 453,993
Interest-bearing 902,182 958,480 947,246 1,088,427 1,106,879
Total deposits 1,306,325 1,435,512 1,448,724 1,579,010 1,560,872
Other borrowed funds 88,107 96,169 84,173 92,118 80,667
Long-term debt 41,238 41,238 41,238 41,238 41,238
Accrued expenses and other liabilities 5,657 4,747 4,639 4,880 5,627
Total liabilities 1,441,327 1,577,666 1,578,774 1,717,246 1,688,404
Commitments and contingent liabilities 0 0 0 0 0

Shareholders' equity

Common stock 216,460 216,540 216,731 217,081 217,573
Retained deficit (74,002) (64,910) (53,008) (42,526) (38,836)
Accumulated other comprehensive income (loss) 61 347 (1,484) (1,569) (3,361)
Total shareholders' equity 142,519 151,977 162,239 172,986 175,376
Total liabilities and shareholders' equity 1,583,846 1,729,643 1,741,013 1,890,232 1,863,780
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.