Exhibit 99.1
 
 
For immediate release
NASDAQ Stock Market:    MCBC
 
Macatawa Bank Corporation Reports
Third Quarter 2015 Results

Holland, Michigan, (October 22, 2015) – Macatawa Bank Corporation (NASDAQ: MCBC) today announced its results for the third quarter of 2015, reflecting continued improvement in financial performance.

  Net income of $3.2 million in the third  quarter 2015, up 16% from $2.8 million in the third quarter 2014
  Strong growth in performing loans - up $62.4 million from the second quarter 2015 and $142.3 million, or 14%, from third quarter 2014
  Third quarter revenue growth of $1.0 million, or 7%, compared to third quarter 2014 resulting primarily from increases in net interest income
  Reduction in total non-interest expenses compared to the third quarter 2014
  Past due loans only 0.25% of total loans at end of third quarter 2015, up slightly from second quarter 2015 and down significantly from 0.48% at end of third quarter 2014

Macatawa reported net income of $3.2 million, or $0.09 per diluted share, in the third quarter 2015 compared to $2.8 million, or $0.08 per diluted share, in the third quarter 2014.  For the first nine months of 2015, Macatawa reported net income of $9.3 million, or $0.27 per diluted share, compared to $8.2 million, or $0.24 per diluted share, for the same period in 2014.

"The Company’s operating performance continued to improve in the third quarter 2015 with 16 percent earnings improvement over the same period in 2014”, said Ronald L. Haan, President and CEO of the Company.  “We achieved revenue growth while containing total non-interest expense.  We had strong growth in our performing loans, increasing by 14% from a year ago.  This growth continued to improve our net interest income, which was up over $800,000 for the third quarter 2015 compared to the prior year.  Asset quality continues to be strong, with low quarter-end loan delinquencies and nonperforming loans.  Expenses associated with the administration and disposition of problem assets were down again, declining $628,000 from the third quarter 2014 and down nearly $1 million for the year to date period.”

Mr. Haan continued:  "Non-interest income categories also improved during the third quarter of 2015.  Mortgage banking, card services and trust and investment services revenues all increased compared to the third quarter of 2014.  We are pleased with the increase in virtually all of our revenue sources as this diverse growth fosters further stability in our earnings performance.”

Mr. Haan concluded:  "We continue to make excellent progress with strong momentum for continued growth and improved operating performance.  Our entire team remains focused on driving profitable growth as customer demand for both loan and deposit products remains strong.  Growing loans and deposits while decreasing expenses associated with the administration and disposition of problem assets puts us in a strong position to deliver even better operating performance going forward."
 

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Macatawa Bank Corporation 3Q Results / page 2 of 4

Operating Results
Net interest income for the third quarter 2015 totaled $11.1 million, an increase of $276,000 from the second quarter 2015 and an increase of $817,000 from the third quarter 2014.  Net interest margin was 2.92 percent, down 9 basis points from the second quarter 2015, and down 12 basis points from the third quarter 2014.

Average interest earning assets for the third quarter 2015 increased $72.5 million from the second quarter 2015 and were up $174.3 million from the third quarter 2014.

Non-interest income decreased $28,000 in the third quarter 2015 compared to the second quarter 2015 and increased $181,000 from the third quarter 2014.  The increase from the third quarter 2014 was primarily due to increases in gains on sales of mortgage loans as the market for this activity rebounded in late 2014 with a drop in long term interest rates.  This continued into 2015.  The Bank originated $25.2 million in loans for sale in the third quarter 2015 compared to $28.0 million in loans for sale in the second quarter 2015 and $24.7 million in loans for sale in the third quarter 2014.  Trust and investment services fees were also up in the third quarter of 2015 due to growth in the Bank’s customer base and improved investment market conditions.

Non-interest expense was $11.3 million for the third quarter 2015, compared to $11.2 million for the second quarter 2015 and $11.4 million for the third quarter 2014.  The largest fluctuations in non-interest expense related to costs associated with the administration and disposition of problem loans and non-performing assets, which decreased $20,000 compared to the second quarter 2015 and decreased $628,000 compared to the third quarter 2014.  Salaries and benefits were up $64,000 compared to the second quarter 2015 and were up $348,000 compared to the third quarter 2014 due a higher level of variable and incentive based compensation and an increase in medical insurance expense resulting from a higher level of claims experienced in 2015.

Federal income tax expense was $1.4 million for the third quarter 2015 compared to $1.4 million for the second quarter 2015 and $1.2 million for the third quarter 2014.  The effective tax rate was stable at  30.4% for both the third quarter 2015 and the third quarter 2014.

Asset Quality
As a result of the consistent improvements in nonperforming loans and past due loans over the past several quarters, the reduction in historical loan loss ratios, net loan recoveries experienced in the third quarter 2015, and a reduction in specific reserves on impaired loans, a negative provision for loan losses of $250,000 was recorded in the third quarter 2015.  Net loan recoveries for the third quarter 2015 were $285,000, compared to second quarter 2015 net loan recoveries of $1,000 and third quarter 2014 net loan recoveries of $330,000.  The Bank has experienced net loan recoveries in four of the past five quarters, and in eight of the past ten quarters. Total loans past due on payments by 30 days or more amounted to $2.9 million at September 30, 2015, up 3 percent from $2.8 million at December 31, 2014 and down 42 percent from $5.1 million at September 30, 2014.  Delinquency as a percentage of total loans was 0.25 percent at September 30, 2015.

The allowance for loan losses of $18.2 million was 1.53 percent of total loans at September 30, 2015, compared to 1.70 percent of total loans at December 31, 2014, and 1.86 percent at September 30, 2014.    The coverage ratio of allowance for loan losses to nonperforming loans continued to be strong and significantly exceeded 1-to-1 coverage at 432.61 percent as of September 30, 2015, compared to 225.04 percent at December 31, 2014, and 232.99 percent at September 30, 2014.

At September 30, 2015, the Company's nonperforming loans were $4.2 million, representing 0.35 percent of total loans.  This compares to $8.4 million (0.75 percent of total loans) at December 31, 2014 and $8.4 million (0.80 percent of total loans) at September 30, 2014.  Other real estate owned and repossessed assets were $25.7 million at September 30, 2015, compared to $28.3 million at December 31, 2014 and $28.8 million at September 30, 2014. Total nonperforming assets, including other real estate owned and nonperforming loans, have decreased by $7.3 million, or 19.7 percent, from September 30, 2014 to September 30, 2015.
 

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Macatawa Bank Corporation 3Q Results / page 3 of 4

A break-down of non-performing loans is shown in the table below.
 
 
Dollars in 000s
 
September 30,
2015
   
June 30,
 2015
   
March 31,
2015
   
December 1,
2014
   
September 30,
2014
 
                     
Commercial Real Estate
 
$
922
   
$
1,188
   
$
2,610
   
$
2,023
   
$
3,499
 
Commercial and Industrial
   
3,119
     
2,392
     
6,732
     
5,605
     
4,372
 
Total Commercial Loans
   
4,041
     
3,580
     
9,342
     
7,628
     
7,871
 
Residential Mortgage Loans
   
42
     
2
     
64
     
305
     
144
 
Consumer Loans
   
128
     
134
     
405
     
493
     
410
 
Total Non-Performing Loans
 
$
4,211
   
$
3,716
   
$
9,811
   
$
8,426
   
$
8,425
 
                                         
Residential Developer Loans (a)
 
$
369
   
$
174
   
$
213
   
$
245
   
$
2,245
 

 
(a)
Represents the amount of loans to residential developers secured by single family residential property which is included in non-performing commercial loans secured by real estate.

Total non-performing assets were $29.9 million, or 1.80 percent of total assets, at September 30, 2015.  A break-down of non-performing assets is shown in the table below.

Dollars in 000s
 
September 30,
2015
   
June 30,
2015
   
March 31,
2015
   
December 31,
 2014
   
September 30,
2014
 
                     
Non-Performing Loans
 
$
4,211
   
$
3,716
   
$
9,811
   
$
8,426
   
$
8,425
 
Other Repossessed Assets
   
---
     
---
     
38
     
38
     
38
 
Other Real Estate Owned
   
25,671
     
26,303
     
27,038
     
28,242
     
28,763
 
Total Non-Performing Assets
 
$
29,882
   
$
30,019
   
$
36,887
   
$
36,706
   
$
37,226
 

Balance Sheet, Liquidity and Capital
Total assets were $1.66 billion at September 30, 2015, an increase of $75.5 million from $1.58 billion at December 31, 2014 and an increase of $169.7 million from $1.49 billion at September 30, 2014.  Total loans were $1.19 billion at September 30, 2015, an increase of $74.4 million from $1.12 billion at December 31, 2014 and an increase of $138.1 million from $1.05 billion at September 30, 2014.

Commercial loans increased by $63.9 million from December 31, 2014 to September 30, 2015, along with an increase of $10.5 million in our residential mortgage and consumer loan portfolios.  Commercial real estate loans increased by $14.6 million and commercial and industrial loans increased by $49.3 million during the same period.

The composition of the commercial loan portfolio is shown in the table below:

Dollars in 000s
 
September 30,
 2015
   
June 30,
2015
   
March 31,
2015
   
December 31,
2014
   
September 30,
2014
 
                     
Construction and Development
 
$
77,320
   
$
77,363
   
$
77,494
   
$
81,296
   
$
82,485
 
Other Commercial Real Estate
   
427,797
     
397,042
     
410,578
     
409,235
     
385,432
 
Commercial Loans Secured by Real Estate
   
505,117
     
474,405
     
488,072
     
490,531
     
467,917
 
Commercial and Industrial
   
376,966
     
350,202
     
341,530
     
327,674
     
285,833
 
Total Commercial Loans
 
$
882,083
   
$
824,607
   
$
829,602
   
$
818,205
   
$
753,750
 
                                         
Residential Developer Loans (a)
 
$
32,147
   
$
29,741
   
$
29,415
   
$
29,804
   
$
32,441
 

 
(a)
Represents the amount of loans to residential developers secured by single family residential property which is included in commercial loans secured by real estate.

At September 30, 2015, total performing loans amounted to $1.19 billion, an increase of $62.4 million from June 30, 2015 and an increase of $78.6 million from December 31, 2014.

 
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Macatawa Bank Corporation 3Q Results / page 4 of 4

Total deposits were $1.37 billion at September 30, 2015, up $60.5 million from $1.31 billion at December 31, 2014 and were up $150.8 million, or 12.4%, from $1.22 billion at September 30, 2014.  The increase from September 30, 2014 was primarily related to increases in checking, savings and money market accounts, which grew by $188.6 million compared to the third quarter 2014, while higher costing time deposits were down $37.8 million in the same period.  The Bank continues to be successful at attracting and retaining core deposit customers.  Customer deposit accounts remain insured to the highest levels available under FDIC deposit insurance.

The Bank's risk-based regulatory capital ratios decreased slightly in the first quarter 2015 due to asset growth and the impact of applying the new Basel III capital requirements, but increased again in the second quarter 2015.  These levels decreased slightly again in the third quarter 2015 as a result of loan growth during the quarter, but continue to be at levels comfortably above those required to be categorized as “well capitalized” under applicable regulatory capital guidelines.  As such, the Bank was categorized as "well capitalized" at September 30, 2015.

About Macatawa Bank
Headquartered in Holland, Mich., Macatawa Bank offers a full range of banking, retail and commercial lending, wealth management and ecommerce services to individuals, businesses and governmental entities from a network of 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan counties.  The bank is recognized for its local management team and decision making, along with providing customers excellent service, a rewarding experience and superior financial products.  Macatawa Bank has been awarded for its exceptional commitment to service by readers of the Holland Sentinel as the “Best Bank on the Lakeshore” since 2002, and “Best Bank in Grand Rapids” by readers of Grand Rapids Magazine since 2009. The bank has also been recognized for the past four consecutive years as “West Michigan’s 101 Best and Brightest Companies to Work For”. For more information, visit www.macatawabank.com.
 
   CAUTIONARY STATEMENT:  This press release contains forward-looking statements that are based on management's current beliefs, expectations, assumptions, estimates, plans and intentions.  Forward-looking statements are identifiable by words or phrases such as "believe," "may," “should,” "will," "continue," "improving," "additional," "focus," “forward,” "future," “efforts,” “strategy,” “momentum,” "positioned," and other similar words or phrases.  Such statements are based upon current beliefs and expectations and involve substantial risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.  These statements include, among others, statements related to trends in our key operating metrics and financial performance, future levels of earnings and profitability, future levels of earning assets, future asset quality, future growth, future yield compression and future net interest margin.  All statements with references to future time periods are forward-looking.  Management's determination of the provision and allowance for loan losses, the appropriate carrying value of intangible assets (including deferred tax assets) and other real estate owned and the fair value of investment securities (including whether any impairment on any investment security is temporary or other-than-temporary and the amount of any impairment) involves judgments that are inherently forward-looking. Our ability to sell other real estate owned at its carrying value or at all, utilize our deferred tax asset, successfully implement new programs and initiatives, increase efficiencies, maintain our current level of deposits and other sources of funding, maintain liquidity, respond to declines in collateral values and credit quality, improve profitability, and produce consistent core earnings is not entirely within our control and is not assured.  The future effect of changes in the real estate, financial and credit markets and the national and regional economy on the banking industry, generally, and Macatawa Bank Corporation, specifically, are also inherently uncertain.  These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("risk factors") that are difficult to predict with regard to timing, extend, likelihood and degree of occurrence.  Therefore, actual results and outcomes may materially differ from what may be expressed in or implied by such forward-looking statements. Macatawa Bank Corporation does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.
 
Risk factors include, but are not limited to, the risk factors described in "Item 1A - Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2014.  These and other factors are representative of the risk factors that may emerge and could cause a difference between an ultimate actual outcome and a preceding forward-looking statement.
  
 
 

 
MACATAWA BANK CORPORATION
CONSOLIDATED FINANCIAL SUMMARY
(Unaudited)

(Dollars in thousands except per share information)
   
Three Months Ended
September 30
   
Nine Months Ended
September 30
 
EARNINGS SUMMARY
 
2015
   
2014
   
2015
   
2014
 
Total interest income
 
$
12,427
   
$
11,674
   
$
36,676
   
$
35,172
 
Total interest expense
   
1,306
     
1,370
     
4,058
     
4,237
 
Net interest income
   
11,121
     
10,304
     
32,618
     
30,935
 
Provision for loan losses
   
(250
)
   
(750
)
   
(1,750
)
   
(2,750
)
Net interest income after provision for loan losses
   
11,371
     
11,054
     
34,368
     
33,685
 
                                 
NON-INTEREST INCOME
                               
Deposit service charges
   
1,150
     
1,163
     
3,248
     
3,219
 
Net gains on mortgage loans
   
705
     
679
     
2,249
     
1,405
 
Trust fees
   
711
     
669
     
2,168
     
2,002
 
Other
   
1,918
     
1,792
     
5,626
     
5,255
 
Total non-interest income
   
4,484
     
4,303
     
13,291
     
11,881
 
                                 
NON-INTEREST EXPENSE
                               
Salaries and benefits
   
6,158
     
5,810
     
18,474
     
17,177
 
Occupancy
   
948
     
897
     
2,823
     
2,837
 
Furniture and equipment
   
835
     
803
     
2,431
     
2,394
 
FDIC assessment
   
283
     
287
     
854
     
934
 
Administration and disposition of problem assets
   
233
     
861
     
1,313
     
2,218
 
Other
   
2,797
     
2,731
     
8,443
     
8,237
 
Total non-interest expense
   
11,254
     
11,389
     
34,338
     
33,797
 
Income before income tax
   
4,601
     
3,968
     
13,321
     
11,769
 
Income tax expense
   
1,400
     
1,206
     
4,065
     
3,614
 
Net income
 
$
3,201
   
$
2,762
   
$
9,256
   
$
8,155
 
                                 
Basic earnings per common share
 
$
0.09
   
$
0.08
   
$
0.27
   
$
0.24
 
Diluted earnings per common share
 
$
0.09
   
$
0.08
   
$
0.27
   
$
0.24
 
Return on average assets
   
0.77
%
   
0.74
%
   
0.77
%
   
0.73
%
Return on average equity
   
8.64
%
   
7.94
%
   
8.44
%
   
7.94
%
Net interest margin
   
2.92
%
   
3.04
%
   
3.00
%
   
3.08
%
Efficiency ratio
   
72.12
%
   
77.97
%
   
74.80
%
   
78.94
%
                                 
BALANCE SHEET DATA
Assets
         
September 30
2015
   
December 31
2014
   
September 30
2014
 
Cash and due from banks
         
$
23,468
   
$
31,503
   
$
24,731
 
Federal funds sold and other short-term investments
           
100,285
     
97,952
     
74,808
 
Interest-bearing time deposits in other financial institutions
           
20,000
     
20,000
     
20,000
 
Securities available for sale
           
161,515
     
161,874
     
162,101
 
Securities held to maturity
           
40,434
     
31,585
     
31,744
 
Federal Home Loan Bank Stock
           
11,558
     
11,238
     
11,236
 
Loans held for sale
           
2,895
     
2,347
     
905
 
Total loans
           
1,192,878
     
1,118,483
     
1,054,788
 
Less allowance for loan loss
           
18,217
     
18,962
     
19,629
 
Net loans
           
1,174,661
     
1,099,521
     
1,035,159
 
Premises and equipment, net
           
51,725
     
52,894
     
53,292
 
Bank-owned life insurance
           
28,697
     
28,195
     
28,021
 
Other real estate owned
           
25,671
     
28,242
     
28,763
 
Other assets
           
18,430
     
18,495
     
18,904
 
                                 
Total Assets
         
$
1,659,339
   
$
1,583,846
   
$
1,489,664
 
                                 
Liabilities and Shareholders' Equity
                               
Noninterest-bearing deposits
         
$
442,316
   
$
404,143
   
$
385,182
 
Interest-bearing deposits
           
924,533
     
902,182
     
830,907
 
Total deposits
           
1,366,849
     
1,306,325
     
1,216,089
 
Other borrowed funds
           
96,169
     
88,107
     
88,107
 
Long-term debt
           
41,238
     
41,238
     
41,238
 
Other liabilities
           
5,350
     
5,657
     
3,761
 
Total Liabilities
           
1,509,606
     
1,441,327
     
1,349,195
 
                                 
Shareholders' equity
           
149,733
     
142,519
     
140,469
 
                                 
Total Liabilities and Shareholders' Equity
         
$
1,659,339
   
$
1,583,846
   
$
1,489,664
 
 


MACATAWA BANK CORPORATION
SELECTED CONSOLIDATED FINANCIAL DATA
(Unaudited)

(Dollars in thousands except per share information)
   
Quarterly
   
Year to Date
 
                             
   
3rd Qtr
2015
   
2nd Qtr
2015
   
1st Qtr
2015
   
4th Qtr
2014
   
3rd Qtr
2014
   
2015
   
2014
 
EARNINGS SUMMARY
                           
Net interest income
 
$
11,121
   
$
10,845
   
$
10,652
   
$
10,457
   
$
10,304
   
$
32,618
   
$
30,935
 
Provision for loan losses
   
(250
)
   
(500
)
   
(1,000
)
   
(600
)
   
(750
)
   
(1,750
)
   
(2,750
)
Total non-interest income
   
4,484
     
4,512
     
4,295
     
4,333
     
4,303
     
13,291
     
11,881
 
Total non-interest expense
   
11,254
     
11,222
     
11,862
     
12,113
     
11,389
     
34,338
     
33,797
 
Federal income tax expense
   
1,400
     
1,420
     
1,245
     
960
     
1,206
     
4,065
     
3,614
 
Net income
 
$
3,201
   
$
3,215
   
$
2,840
   
$
2,317
   
$
2,762
   
$
9,256
   
$
8,155
 
                                                         
Basic earnings per common share
 
$
0.09
   
$
0.09
   
$
0.08
   
$
0.07
   
$
0.08
   
$
0.27
   
$
0.24
 
Diluted earnings per common share
 
$
0.09
   
$
0.09
   
$
0.08
   
$
0.07
   
$
0.08
   
$
0.27
   
$
0.24
 
                                                         
MARKET DATA
                                                       
Book value per common share
 
$
4.42
   
$
4.34
   
$
4.30
   
$
4.21
   
$
4.15
   
$
4.42
   
$
4.15
 
Tangible book value per common share
 
$
4.42
   
$
4.34
   
$
4.30
   
$
4.21
   
$
4.15
   
$
4.42
   
$
4.15
 
Market value per common share
 
$
5.18
   
$
5.30
   
$
5.35
   
$
5.44
   
$
4.80
   
$
5.18
   
$
4.80
 
Average basic common shares
   
33,866,789
     
33,866,789
     
33,866,789
     
33,837,334
     
33,795,384
     
33,866,789
     
33,791,470
 
Average diluted common shares
   
33,866,789
     
33,866,789
     
33,866,789
     
33,837,334
     
33,795,384
     
33,866,789
     
33,791,470
 
Period end common shares
   
33,866,789
     
33,866,789
     
33,866,789
     
33,866,789
     
33,803,823
     
33,866,789
     
33,808,823
 
                                                         
PERFORMANCE RATIOS
                                                       
Return on average assets
   
0.77
%
   
0.81
%
   
0.73
%
   
0.61
%
   
0.74
%
   
0.77
%
   
0.73
%
Return on average equity
   
8.64
%
   
8.78
%
   
7.89
%
   
6.54
%
   
7.94
%
   
8.44
%
   
7.94
%
Net interest margin (fully taxable equivalent)
   
2.92
%
   
3.01
%
   
3.07
%
   
3.05
%
   
3.04
%
   
3.00
%
   
3.08
%
Efficiency ratio
   
72.12
%
   
73.07
%
   
79.36
%
   
81.90
%
   
77.97
%
   
74.80
%
   
78.94
%
Full-time equivalent employees (period end)
   
347
     
347
     
351
     
355
     
352
     
347
     
352
 
                                                         
ASSET QUALITY
                                                       
Gross charge-offs
 
$
170
   
$
202
   
$
78
   
$
382
   
$
120
   
$
450
   
$
294
 
Net charge-offs
 
$
(285
)
 
$
(1
)
 
$
(718
)
 
$
67
   
$
(330
)
 
$
(1,005
)
 
$
(1,581
)
Net charge-offs to average loans (annualized)
   
-0.10
%
   
0.00
%
   
-0.26
%
   
0.02
%
   
-0.13
%
   
-0.12
%
   
-0.20
%
Nonperforming loans
 
$
4,211
   
$
3,716
   
$
9,811
   
$
8,426
   
$
8,425
   
$
4,211
   
$
8,425
 
Other real estate and repossessed assets
 
$
25,671
   
$
26,303
   
$
27,076
   
$
28,280
   
$
28,801
   
$
25,671
   
$
28,801
 
Nonperforming loans to total loans
   
0.35
%
   
0.33
%
   
0.86
%
   
0.75
%
   
0.80
%
   
0.35
%
   
0.80
%
Nonperforming assets to total assets
   
1.80
%
   
1.86
%
   
2.29
%
   
2.32
%
   
2.50
%
   
1.80
%
   
2.50
%
Allowance for loan losses
 
$
18,217
   
$
18,181
   
$
18,680
   
$
18,962
   
$
19,629
   
$
18,217
   
$
19,629
 
Allowance for loan losses to total loans
   
1.53
%
   
1.61
%
   
1.65
%
   
1.70
%
   
1.86
%
   
1.53
%
   
1.86
%
Allowance for loan losses to nonperforming loans
   
432.61
%
   
489.26
%
   
190.40
%
   
225.04
%
   
232.99
%
   
432.61
%
   
232.99
%
                                                         
CAPITAL
                                                       
Average equity to average assets
   
8.89
%
   
9.18
%
   
9.29
%
   
9.40
%
   
9.29
%
   
9.11
%
   
9.19
%
Common equity tier 1 to risk weighted assets (Consolidated)
   
10.54
%
   
10.87
%
   
10.74
%
   
N/
A
   
N/
A
   
10.54
%
   
N/
A
Tier 1 capital to average assets (Consolidated)
   
11.34
%
   
11.70
%
   
11.90
%
   
11.61
%
   
11.55
%
   
11.34
%
   
11.55
%
Total capital to risk-weighted assets (Consolidated)
   
14.61
%
   
15.09
%
   
14.97
%
   
15.55
%
   
16.27
%
   
14.61
%
   
16.27
%
Common equity tier 1 to risk weighted assets (Bank)
   
12.98
%
   
13.44
%
   
13.31
%
   
N/
A
   
N/
A
   
12.98
%
   
N/
A
Tier 1 capital to average assets (Bank)
   
11.03
%
   
11.38
%
   
11.57
%
   
11.41
%
   
11.36
%
   
11.03
%
   
11.36
%
Total capital to risk-weighted assets (Bank)
   
14.23
%
   
14.69
%
   
14.57
%
   
15.27
%
   
15.98
%
   
14.23
%
   
15.98
%
Tangible common equity to assets
   
9.03
%
   
9.09
%
   
9.05
%
   
9.05
%
   
9.49
%
   
9.03
%
   
9.49
%
                                                         
END OF PERIOD BALANCES
                                                       
Total portfolio loans
 
$
1,192,878
   
$
1,130,024
   
$
1,135,311
   
$
1,118,483
   
$
1,054,788
   
$
1,192,878
   
$
1,054,788
 
Earning assets
   
1,527,714
     
1,480,839
     
1,471,945
     
1,442,651
     
1,355,635
     
1,527,714
     
1,355,635
 
Total assets
   
1,659,339
     
1,618,014
     
1,610,209
     
1,583,845
     
1,489,664
     
1,659,339
     
1,489,664
 
Deposits
   
1,366,849
     
1,327,813
     
1,320,516
     
1,306,325
     
1,216,089
     
1,366,849
     
1,216,089
 
Total shareholders' equity
   
149,733
     
146,843
     
145,581
     
142,519
     
140,469
     
149,733
     
140,469
 
                                                         
AVERAGE BALANCES
                                                       
Total portfolio loans
 
$
1,155,339
   
$
1,138,880
   
$
1,120,395
   
$
1,072,585
   
$
1,043,774
   
$
1,138,333
   
$
1,040,644
 
Earning assets
   
1,532,562
     
1,460,025
     
1,415,643
     
1,373,157
     
1,358,219
     
1,469,838
     
1,348,701
 
Total assets
   
1,667,736
     
1,594,365
     
1,550,377
     
1,508,441
     
1,497,386
     
1,604,589
     
1,489,249
 
Deposits
   
1,376,257
     
1,302,349
     
1,271,228
     
1,232,343
     
1,224,041
     
1,316,996
     
1,217,721
 
Total shareholders' equity
   
148,214
     
146,404
     
144,062
     
141,720
     
139,107
     
146,242
     
136,936