Exhibit 99.1
 

For Immediate Release
NASDAQ Stock Market:
MCBC

Macatawa Bank Corporation Reports
First Quarter 2017 Results

HOLLAND, Mich. (April 27, 2017) – Macatawa Bank Corporation (NASDAQ: MCBC) today announced its results for the first quarter of 2017, reflecting continued strong financial performance.

Net income of $4.5 million in first quarter 2017, up 28% from $3.5 million in first quarter 2016
Increased revenue on reduced expenses
Net interest income up $845,000 for first quarter 2017 compared to first quarter 2016
Net interest margin up 17 basis points from first quarter 2016
Noninterest expense down $663,000, or 6%, in first quarter 2017 compared to first quarter 2016
Strong commercial loan production volume of $60.4 million – up from $54.7 million in first quarter 2016
Past due loans remained at very low levels - only 0.07% of total loans at end of first quarter 2017
Favorable loan collection results – nine consecutive quarters of net recoveries

Macatawa reported net income of $4.5 million, or $0.13 per diluted share, in the first quarter 2017 compared to $3.5 million, or $0.10 per diluted share, in the first quarter 2016.

"We are pleased to report strong performance for the first quarter of 2017,” said Ronald L. Haan, President and CEO of the Company.  “Revenue growth, including higher net interest income, along with lower operating expenses and continued strong asset quality resulted in a 28 percent increase in net income compared to the first quarter of 2016.  Net interest income and other noninterest income, on a combined basis, increased by $468,000 over the prior year while noninterest expenses declined by $663,000.  Asset quality remained strong and we have now achieved nine consecutive quarters of net recoveries.  We continue to execute on our strategy to drive profitable growth.”

Mr. Haan concluded:  "We are encouraged by the improvement in net interest income, which has benefitted from growth in average loan portfolio balances as well as the recent increases in short term rates by the Federal Reserve.  We remain well positioned to benefit from future rate increases.  As we look to the remainder of 2017, we intend to continue to drive quality loan portfolio growth, increase revenue and manage expenses.”
 

Macatawa Bank Corporation 1Q Results / page 2 of 5

Operating Results
Net interest income for the first quarter 2017 totaled $12.6 million, an increase of $291,000 from the fourth quarter 2016 and an increase of $845,000 from the first quarter 2016.  Net interest margin was 3.26 percent, up 9 basis points from the fourth quarter 2016, and up 17 basis points from the first quarter 2016.  Net interest income for the first quarter 2017 benefitted from a payoff of a loan that had been on nonaccrual, resulting in recognition of $267,000 in interest income that had been deferred.

Average interest earning assets for the first quarter 2017 increased $13.5 million from the fourth quarter 2016 and were up $40.6 million from the first quarter 2016.

Non-interest income decreased $625,000 in the first quarter 2017 compared to the fourth quarter 2016 and decreased $377,000 from the first quarter 2016.  These fluctuations were primarily driven by gains on sales of mortgage loans.  The increase in rates in the fourth quarter of 2016 as well as seasonality of residential mortgage lending contributed to the decrease in activity.  Gains on sales of mortgage loans in the first quarter 2017 were down $361,000 compared to the fourth quarter 2016 and down $59,000 from the first quarter 2016.  The Bank originated $17.0 million in loans for sale in the first quarter 2017 compared to $27.3 million in loans for sale in the fourth quarter 2016 and $18.9 million in loans for sale in the first quarter 2016.  Also contributing to non-interest income in the first quarter of 2016 was a higher level of earnings from bank owned life insurance due to receipt of a death benefit payout in the quarter.

Non-interest expense was $10.9 million for the first quarter 2017, compared to $11.5 million for the fourth quarter 2016 and $11.6 million for the first quarter 2016.  The largest fluctuations in non-interest expense related to salaries and benefit expenses and  costs associated with the administration and disposition of problem loans and non-performing assets.  Salaries and benefit expenses were down $346,000 compared to the fourth quarter 2016 and were down $188,000 compared to the first quarter 2016.  These costs were down partially due to lower medical benefit expenses from lower actual claims experienced and less variable based compensation due to lower mortgage production and brokerage volume.  Nonperforming asset expenses decreased $5,000 compared to the fourth quarter 2016 and decreased $316,000 compared to the first quarter 2016 due to continued reductions in the level of foreclosed properties.  Other categories of non-interest expense were relatively flat compared to the fourth quarter 2016 and the first quarter 2016.

Federal income tax expense was $2.0 million for the first quarter 2017 compared to $1.8 million for the fourth quarter 2016 and $1.4 million for the first quarter 2016.  The effective tax rate was 30.6% for the first quarter 2017, compared to 30.5% for the fourth quarter 2016 and 28.6% for the first quarter 2016.  The lower effective tax rate in the first quarter 2016 was due to the elevated level of earnings on bank owned life insurance during the quarter due to the payment of a death benefit.
 

Macatawa Bank Corporation 1Q Results / page 3 of 5

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, and net loan recoveries experienced in the first quarter 2017, a negative provision for loan losses of $500,000 was recorded in the first quarter 2017.  Net loan recoveries for the first quarter 2017 were $234,000, compared to fourth quarter 2016 net loan recoveries of $364,000 and first quarter 2016 net loan recoveries of $148,000.  The Company has experienced net loan recoveries in each of the past nine quarters, and in fourteen of the past fifteen quarters. Total loans past due on payments by 30 days or more amounted to $915,000 at March 31, 2017, down 37 percent from $1.4 million at December 31, 2016 and up 15 percent from $796,000 at March 31, 2016.  Delinquency as a percentage of total loans was 0.07 percent at March 31, 2017.

The allowance for loan losses of $16.7 million was 1.32 percent of total loans at March 31, 2017, compared to 1.32 percent of total loans at December 31, 2016, and 1.41 percent at March 31, 2016.  The coverage ratio of allowance for loan losses to nonperforming loans continued to be strong and significantly exceeded 1-to-1 coverage at 4,163.34 percent as of March 31, 2017, compared to 5,564.00 percent at December 31, 2016, and 4,011.48 percent at March 31, 2016.

At March 31, 2017, the Company's nonperforming loans had declined to $401,000, representing 0.03 percent of total loans.  This compares to $300,000 (0.02 percent of total loans) at December 31, 2016 and $427,000 (0.04 percent of total loans) at March 31, 2016.  Other real estate owned and repossessed assets were $12.1 million at March 31, 2017, compared to $12.3 million at December 31, 2016 and $16.2 million at March 31, 2016. Total nonperforming assets, including other real estate owned and nonperforming loans, have decreased by $4.1 million, or 25.0 percent, from March 31, 2016 to March 31, 2017.

A break-down of non-performing loans is shown in the table below.

Dollars in 000s
 
Mar 31,
2017
   
Dec 31,
2016
   
Sept 30,
2016
   
Jun 30,
2016
   
Mar 31,
2016
 
                               
Commercial Real Estate
 
$
252
   
$
183
   
$
192
   
$
291
   
$
312
 
Commercial and Industrial
   
127
     
36
     
9
     
26
     
79
 
Total Commercial Loans
   
379
     
219
     
201
     
317
     
391
 
Residential Mortgage Loans
   
2
     
58
     
2
     
2
     
2
 
Consumer Loans
   
20
     
23
     
30
     
31
     
34
 
Total Non-Performing Loans
 
$
401
   
$
300
   
$
233
   
$
350
   
$
427
 

Total non-performing assets were $12.5 million, or 0.71 percent of total assets, at March 31, 2017.  A break-down of non-performing assets is shown in the table below.

Dollars in 000s
 
Mar 31,
2017
   
Dec 31,
2016
   
Sept 30,
2016
   
Jun30,
2017
   
Mar 31,
2016
 
                               
Non-Performing Loans
 
$
401
   
$
300
   
$
233
   
$
350
   
$
427
 
Other Repossessed Assets
   
---
     
---
     
---
     
---
     
---
 
Other Real Estate Owned
   
12,074
     
12,253
     
13,110
     
14,066
     
16,162
 
Total Non-Performing Assets
 
$
12,475
   
$
12,553
   
$
13,343
   
$
14,416
   
$
16,589
 
 

Macatawa Bank Corporation 1Q Results / page 4 of 5

Balance Sheet, Liquidity and Capital
Total assets were $1.75 billion at March 31, 2017, an increase of $7.8 million from $1.74 billion at December 31, 2016 and an increase of $108.9 million from $1.64 billion at March 31, 2016.  Year end assets typically increase due to year end seasonal inflow of business and municipal deposits.   Total loans were $1.27 billion at March 31, 2017, a decrease of $14.7 million from $1.28 billion at December 31, 2016 and an increase of $50.0 million from $1.22 billion at March 31, 2016.

Commercial loans increased by $56.8 million from March 31, 2016 to March 31, 2017, partially offset by a decrease of $6.8 million in our residential mortgage and consumer loan portfolios.  Commercial real estate loans decreased by $7.9 million while commercial and industrial loans increased by $64.7 million during the same period.

While total loans decreased during the first quarter of 2017, commercial loan production volume was strong and increased from production volume in the first quarter of 2016.  The following table shows a breakout of our commercial loan activity:

Dollars in 000s
 
1st Qtr
2017
   
4th Qtr
2016
   
3rd Qtr
2016
   
2nd Qtr
2016
   
1st Qtr
2016
 
                               
Commerical loans originated
 
$
60,356
   
$
78,398
   
$
61,112
   
$
34,892
   
$
54,673
 
Repayments of commercial loans
   
(58,600
)
   
(40,768
)
   
(35,869
)
   
(21,389
)
   
(43,347
)
Change in undist.–available credit
   
(6,960
)
   
6,523
     
3,494
     
164
     
8,045
 
Net change in commercial loans
 
$
(5,204
)
 
$
44,153
   
$
28,737
   
$
13,667
   
$
19,371
 

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

Dollars in 000s
 
Mar 31,
2017
   
Dec 31,
2016
   
Sept 30,
2016
   
Jun 30,
2016
   
Mar 31,
2016
 
                               
Construction and Development
 
$
78,910
   
$
79,596
   
$
76,077
   
$
74,339
   
$
73,621
 
Other Commercial Real Estate
   
429,898
     
438,385
     
423,991
     
439,036
     
443,095
 
Commercial Loans Secured by Real Estate
   
508,808
     
517,981
     
500,068
     
513,375
     
516,716
 
Commercial and Industrial
   
453,311
     
449,342
     
423,102
     
381,058
     
388,625
 
Total Commercial Loans
 
$
962,119
   
$
967,323
   
$
923,170
   
$
894,433
   
$
905,341
 
                                         
Residential Developer Loans (a)
 
$
24,662
   
$
26,003
   
$
26,890
   
$
29,771
   
$
28,521
 

(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.

Total deposits were $1.43 billion at March 31, 2017, down $15.6 million from $1.45 billion at December 31, 2016 and were up $92.3 million, or 6.9 percent, from $1.34 billion at March 31, 2016.  The decrease in total deposits from December 31, 2016 was primarily in demand deposits and money market deposits for municipal and business customers deploying their seasonal increase of year-end deposits in the first quarter of 2017.  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.
 

Macatawa Bank Corporation 1Q Results / page 5 of 5

The Bank's risk-based regulatory capital ratios were higher at March 31, 2017 compared to March 31, 2016 and December 31, 2016 due to earnings growth, and 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 March 31, 2017.

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 recognized for the past five 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," "expect," "may," "should," "will," ”intend,” "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, 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, reduce non-performing asset expenses, 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, extent, 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, 2016.  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)

 
EARNINGS SUMMARY
  
1st Qtr
2017
     
4th Qtr
2016
     
1st Qtr
2016
  
Total interest income
 
$
13,848
   
$
13,496
   
$
13,008
 
Total interest expense
   
1,265
     
1,204
     
1,270
 
Net interest income
   
12,583
     
12,292
     
11,738
 
Provision for loan losses
   
(500
)
   
(250
)
   
(100
)
Net interest income after provision for loan losses
   
13,083
     
12,542
     
11,838
 
                         
NON-INTEREST INCOME
                       
Deposit service charges
   
1,060
     
1,113
     
1,047
 
Net gains on mortgage loans
   
428
     
789
     
487
 
Trust fees
   
778
     
810
     
708
 
Other
   
1,965
     
2,144
     
2,366
 
Total non-interest income
   
4,231
     
4,856
     
4,608
 
                         
NON-INTEREST EXPENSE
                       
Salaries and benefits
   
5,999
     
6,345
     
6,187
 
Occupancy
   
1,026
     
1,005
     
982
 
Furniture and equipment
   
732
     
780
     
865
 
FDIC assessment
   
136
     
140
     
251
 
Problem asset costs, including losses
   
95
     
100
     
411
 
Other
   
2,900
     
3,118
     
2,855
 
Total non-interest expense
   
10,888
     
11,488
     
11,551
 
Income before income tax
   
6,426
     
5,910
     
4,895
 
Income tax expense
   
1,966
     
1,802
     
1,400
 
Net income
 
$
4,460
   
$
4,108
   
$
3,495
 
                         
Basic earnings per common share
 
$
0.13
   
$
0.12
   
$
0.10
 
Diluted earnings per common share
 
$
0.13
   
$
0.12
   
$
0.10
 
Return on average assets
   
1.05
%
   
0.97
%
   
0.84
%
Return on average equity
   
10.86
%
   
10.08
%
   
9.06
%
Net interest margin (fully taxable equivalent)
   
3.26
%
   
3.17
%
   
3.09
%
Efficiency ratio
   
64.76
%
   
66.99
%
   
70.67
%
 

BALANCE SHEET DATA
Assets
  
March 31
2017
     
December 31
2016
     
March 31
2016
 
 
Cash and due from banks
 
$
30,631
   
$
27,690
   
$
22,499
 
Federal funds sold and other short-term investments
   
83,118
     
62,129
     
72,104
 
Securities available for sale
   
184,605
     
184,433
     
168,041
 
Securities held to maturity
   
68,473
     
69,378
     
51,303
 
Federal Home Loan Bank Stock
   
11,558
     
11,558
     
11,558
 
Loans held for sale
   
2,767
     
2,181
     
2,259
 
Total loans
   
1,266,128
     
1,280,812
     
1,216,184
 
Less allowance for loan loss
   
16,696
     
16,962
     
17,129
 
Net loans
   
1,249,432
     
1,263,850
     
1,199,055
 
Premises and equipment, net
   
49,832
     
50,026
     
50,944
 
Bank-owned life insurance
   
39,524
     
39,274
     
28,784
 
Other real estate owned
   
12,074
     
12,253
     
16,162
 
Other assets
   
16,839
     
18,241
     
17,276
 
                         
Total Assets
 
$
1,748,853
   
$
1,741,013
   
$
1,639,985
 
                         
Liabilities and Shareholders' Equity
                       
Noninterest-bearing deposits
 
$
466,415
   
$
501,478
   
$
424,356
 
Interest-bearing deposits
   
966,731
     
947,246
     
916,478
 
Total deposits
   
1,433,146
     
1,448,724
     
1,340,834
 
Other borrowed funds
   
102,785
     
84,173
     
94,840
 
Long-term debt
   
41,238
     
41,238
     
41,238
 
Other liabilities
   
5,539
     
4,639
     
7,832
 
Total Liabilities
   
1,582,708
     
1,578,774
     
1,484,744
 
                         
Shareholders' equity
   
166,145
     
162,239
     
155,241
 
                         
Total Liabilities and Shareholders' Equity
 
$
1,748,853
   
$
1,741,013
   
$
1,639,985
 
 

MACATAWA BANK CORPORATION
SELECTED CONSOLIDATED FINANCIAL DATA
(Unaudited)
(Dollars in thousands except per share information)

   
Quarterly
 
                               
     
1st Qtr
2017
     
4th Qtr
2016
     
3rd Qtr
2016
     
2nd Qtr
2016
     
1st Qtr
2016
  
EARNINGS SUMMARY
                             
Net interest income
 
$
12,583
   
$
12,292
   
$
11,902
   
$
11,608
   
$
11,738
 
Provision for loan losses
   
(500
)
   
(250
)
   
(250
)
   
(750
)
   
(100
)
Total non-interest income
   
4,231
     
4,856
     
5,075
     
4,536
     
4,608
 
Total non-interest expense
   
10,888
     
11,488
     
11,273
     
11,470
     
11,551
 
Federal income tax expense
   
1,966
     
1,802
     
1,350
     
1,679
     
1,400
 
Net income
 
$
4,460
   
$
4,108
   
$
4,604
   
$
3,745
   
$
3,495
 
                                         
Basic earnings per common share
 
$
0.13
   
$
0.12
   
$
0.14
   
$
0.11
   
$
0.10
 
Diluted earnings per common share
 
$
0.13
   
$
0.12
   
$
0.14
   
$
0.11
   
$
0.10
 
                                         
MARKET DATA
                                       
Book value per common share
 
$
4.89
   
$
4.78
   
$
4.78
   
$
4.67
   
$
4.58
 
Tangible book value per common share
 
$
4.89
   
$
4.78
   
$
4.78
   
$
4.67
   
$
4.58
 
Market value per common share
 
$
9.88
   
$
10.41
   
$
7.99
   
$
7.42
   
$
6.25
 
Average basic common shares
   
33,941,010
     
33,920,535
     
33,921,599
     
33,922,506
     
33,925,113
 
Average diluted common shares
   
33,948,584
     
33,923,371
     
33,921,599
     
33,922,506
     
33,925,113
 
Period end common shares
   
33,944,788
     
33,940,788
     
33,920,740
     
33,922,289
     
33,925,113
 
                                         
PERFORMANCE RATIOS
                                       
Return on average assets
   
1.05
%
   
0.97
%
   
1.10
%
   
0.91
%
   
0.84
%
Return on average equity
   
10.86
%
   
10.08
%
   
11.50
%
   
9.56
%
   
9.06
%
Net interest margin (fully taxable equivalent)
   
3.26
%
   
3.17
%
   
3.08
%
   
3.08
%
   
3.09
%
Efficiency ratio
   
64.76
%
   
66.99
%
   
66.40
%
   
71.05
%
   
70.67
%
Full-time equivalent employees (period end)
   
338
     
342
     
337
     
343
     
338
 
                                         
ASSET QUALITY
                                       
Gross charge-offs
 
$
26
   
$
47
   
$
46
   
$
36
   
$
76
 
Net charge-offs
 
$
(234
)
 
$
(364
)
 
$
(138
)
 
$
(580
)
 
$
(148
)
Net charge-offs to average loans (annualized)
   
-0.07
%
   
-0.12
%
   
-0.05
%
   
-0.19
%
   
-0.05
%
Nonperforming loans
 
$
401
   
$
300
   
$
233
   
$
350
   
$
427
 
Other real estate and repossessed assets
 
$
12,074
   
$
12,253
   
$
13,110
   
$
14,066
   
$
16,162
 
Nonperforming loans to total loans
   
0.03
%
   
0.02
%
   
0.02
%
   
0.03
%
   
0.04
%
Nonperforming assets to total assets
   
0.71
%
   
0.72
%
   
0.81
%
   
0.87
%
   
1.01
%
Allowance for loan losses
 
$
16,696
   
$
16,962
   
$
16,847
   
$
16,959
   
$
17,129
 
Allowance for loan losses to total loans
   
1.32
%
   
1.32
%
   
1.36
%
   
1.40
%
   
1.41
%
Allowance for loan losses to nonperforming loans
   
4163.34
%
   
5654.00
%
   
7230.47
%
   
4845.43
%
   
4011.48
%
                                         
CAPITAL
                                       
Average equity to average assets
   
9.63
%
   
9.62
%
   
9.53
%
   
9.47
%
   
9.27
%
Common equity tier 1 to risk weighted assets (Consolidated)
   
11.28
%
   
11.03
%
   
11.30
%
   
11.14
%
   
10.95
%
Tier 1 capital to average assets (Consolidated)
   
12.11
%
   
12.01
%
   
11.97
%
   
11.93
%
   
11.69
%
Total capital to risk-weighted assets (Consolidated)
   
15.12
%
   
14.88
%
   
15.30
%
   
15.18
%
   
15.01
%
Common equity tier 1 to risk weighted assets (Bank)
   
13.60
%
   
13.35
%
   
13.71
%
   
13.59
%
   
13.41
%
Tier 1 capital to average assets (Bank)
   
11.79
%
   
11.69
%
   
11.64
%
   
11.61
%
   
11.38
%
Total capital to risk-weighted assets (Bank)
   
14.73
%
   
14.49
%
   
14.90
%
   
14.80
%
   
14.63
%
Tangible common equity to assets
   
9.51
%
   
9.33
%
   
9.82
%
   
9.52
%
   
9.47
%
                                         
END OF PERIOD BALANCES
                                       
Total portfolio loans
 
$
1,266,128
   
$
1,280,812
   
$
1,236,395
   
$
1,211,844
   
$
1,216,184
 
Earning assets
   
1,617,331
     
1,612,533
     
1,514,797
     
1,539,877
     
1,518,752
 
Total assets
   
1,748,853
     
1,741,013
     
1,653,686
     
1,666,547
     
1,639,985
 
Deposits
   
1,433,146
     
1,448,724
     
1,358,627
     
1,355,078
     
1,340,834
 
Total shareholders' equity
   
166,145
     
162,239
     
162,245
     
158,462
     
155,241
 
                                         
AVERAGE BALANCES
                                       
Total portfolio loans
 
$
1,264,835
   
$
1,245,093
   
$
1,215,953
   
$
1,212,836
   
$
1,202,682
 
Earning assets
   
1,579,758
     
1,566,238
     
1,555,550
     
1,531,535
     
1,539,166
 
Total assets
   
1,706,643
     
1,696,007
     
1,680,097
     
1,654,325
     
1,663,590
 
Deposits
   
1,397,596
     
1,401,186
     
1,377,462
     
1,346,703
     
1,365,881
 
Total shareholders' equity
   
164,317
     
163,092
     
160,196
     
156,664
     
154,244