Macatawa Bank Corporation Declares Quarterly Cash Dividend
HOLLAND, Mich., Nov. 20, 2007 (PRIME NEWSWIRE) -- Macatawa Bank Corporation announced that its board of directors declared a quarterly cash dividend of thirteen cents ($.13) per share payable December 28, 2007, to shareholders of record on December 10, 2007. This marks the twenty-ninth consecutive quarterly cash dividend since the nearly ten year-old banking company began paying cash dividends in the fourth quarter of 2000. The dividend amount represents a 5% increase over the fourth quarter 2006 cash dividend after considering the effect of the 5% stock dividend paid in May 2007.
Headquartered in Holland, Michigan, Macatawa Bank Corporation is the parent company for Macatawa Bank. The Bank offers a full range of banking, investment and trust services to individuals, businesses, and governmental entities from a network of 26 full service branches located in communities in Kent County, Ottawa County, and northern Allegan County. Services include commercial, consumer and real estate financing; business and personal deposit services, ATM, telephone and Internet banking services, trust and employee benefit plan services and various investment services. The Corporation emphasizes its local management team and decision making, along with providing its customers excellent service and superior financial products.
"CAUTIONARY STATEMENT: This press release contains certain forward-looking statements that involve risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services, pricing. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release."
CONTACT: Macatawa Bank Corporation
Jon W. Swets, SVP/CFO
616-494-7645
Released November 20, 2007