Exhibit 99.1
  
 
For Immediate Release
  
NASDAQ Stock Market:
MCBC
 
Macatawa Bank Corporation Reports
Second Quarter 2017 Results

HOLLAND, Mich. (July 27, 2017) – Macatawa Bank Corporation (NASDAQ: MCBC) today announced its results for the second quarter of 2017, reflecting continued strong financial performance.
 
●
Net income of $4.8 million in second quarter 2017, up 27% from $3.7 million in second quarter 2016
●
Continued trend of increased revenue on reduced expenses
●
Net interest income up $1.1 million for second quarter 2017 compared to second quarter 2016
●
Net interest margin up 16 basis points from second quarter 2016
●
Noninterest expense down $678,000, or 6%, in second quarter 2017 compared to second quarter 2016
●
Reduced other real estate owned by $7.0 million, or 50%, compared to second quarter 2016
●
Core deposit balances up by $104.9 million, nearly 8%, from a year ago
●
Past due loans remained at very low levels - only 0.07% of total loans at end of second quarter 2017
●
Favorable loan collection results – ten consecutive quarters of net recoveries

Macatawa reported net income of $4.8 million, or $0.14 per diluted share, in the second quarter 2017 compared to $3.7 million, or $0.11 per diluted share, in the second quarter 2016.  For the first six months of 2017, Macatawa reported net income of $9.2 million, or $0.27 per diluted share, compared to $7.2 million, or $0.21 per diluted share, for the same period in 2016.

"We are pleased to report strong performance for the second quarter of 2017,” said Ronald L. Haan, President and CEO of the Company.  “Operating performance continues to improve, asset quality remains strong, capital levels are high, and the number of customer relationships continues to expand.  Our long term strategy of driving profitable growth through consistent increases in quality business loans, while maintaining a disciplined approach to managing expenses remains the same.”

Mr. Haan concluded:  "Earnings improvement has been driven primarily by improvement in net interest income, which has benefited from the combination of our strong core deposit funding base, growth in average balances of business loans, and the recent increases in short term interest rates.  We remain well positioned to benefit from future rate increases, and expect the favorable trends we experienced in the first half of this year to continue as we look to the remainder of 2017.”
 
Macatawa Bank Corporation 2Q Results / page 2 of 5

Operating Results
Net interest income for the second quarter 2017 totaled $12.7 million, an increase of $122,000 from the first quarter 2017 and an increase of $1.1 million from the second quarter 2016.  Net interest margin was 3.24 percent, down 2 basis points from the first quarter 2017, and up 16 basis points from the second 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 second quarter 2017 increased $15.1 million from the first quarter 2017 and were up $63.3 million from the second quarter 2016.

Non-interest income increased $247,000 in the second quarter 2017 compared to the first quarter 2017 and decreased $58,000 from the second quarter 2017.  These fluctuations were primarily driven by gains on sales of mortgage loans.  Gains on sales of mortgage loans in the second quarter 2017 were up $48,000 compared to the first quarter 2017 and down $96,000 from the second quarter 2016.  The Bank originated $16.7 million in loans for sale in the second quarter 2017 compared to $17.0 million in loans for sale in the first quarter 2017 and $19.0 million in loans for sale in the second quarter 2016.

Non-interest expense was $10.8 million for the second quarter 2017, compared to $10.9 million for the first quarter 2017 and $11.5 million for the second 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 up $154,000 compared to the first quarter 2017 and were down $15,000 compared to the second quarter 2016.  The increase over the first quarter of 2017 related primarily to annual performance adjustments to salaries awarded at the beginning of the second quarter of this year.  The decrease from the second quarter of last year was primarily due to lower medical benefit expenses from lower actual claims experienced in the current quarter.  Nonperforming asset expenses decreased $253,000 compared to the first quarter 2017 and decreased $618,000 compared to the second quarter 2016 due to continued reductions in the level of foreclosed properties and net gains realized on sales of such properties in 2017.  During the second quarter 2017, the Bank sold its largest individual foreclosed property at a net gain of $68,000.  Total realized gains for the first six months of 2017 amounted to $470,000.  Other categories of non-interest expense were relatively flat compared to the first quarter 2017 and the second quarter 2016.

Federal income tax expense was $2.1 million for the second quarter 2017 compared to $2.0 million for the first quarter 2017 and $1.7 million for the second quarter 2016.  The effective tax rate was 30.9% for the second quarter 2017, compared to 30.6% for the first quarter 2017 and 31.0% for the second quarter 2016.
 
Macatawa Bank Corporation 2Q 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 second quarter 2017, a negative provision for loan losses of $500,000 was recorded in the second quarter 2017.  Net loan recoveries for the second quarter 2017 were $374,000, compared to first quarter 2017 net loan recoveries of $234,000 and second quarter 2016 net loan recoveries of $580,000.  The Company has experienced net loan recoveries in each of the past ten quarters, and in fifteen of the past sixteen quarters. Total loans past due on payments by 30 days or more amounted to $815,000 at June 30, 2017, down 44 percent from $1.4 million at December 31, 2016 and down 17 percent from $979,000 at June 30, 2016.  Delinquency as a percentage of total loans was 0.07 percent at June 30, 2017.

The allowance for loan losses of $16.6 million was 1.32 percent of total loans at June 30, 2017, compared to 1.32 percent of total loans at December 31, 2016, and 1.40 percent at June 30, 2016.  The coverage ratio of allowance for loan losses to nonperforming loans continued to be strong and significantly exceeded 1-to-1 coverage at 2,473 percent as of June 30, 2017, compared to 5,564 percent at December 31, 2016, and 4,845 percent at June 30, 2016.

At June 30, 2017, the Company's nonperforming loans had declined to $670,000, representing 0.05 percent of total loans.  This compares to $300,000 (0.02 percent of total loans) at December 31, 2016 and $350,000 (0.03 percent of total loans) at June 30, 2016.  Other real estate owned and repossessed assets were $7.1 million at June 30, 2017, compared to $12.3 million at December 31, 2016 and $14.1 million at June 30, 2016. Total nonperforming assets, including other real estate owned and nonperforming loans, have decreased by $6.6 million, or 46 percent, from June 30, 2016 to June 30, 2017.

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

 
Dollars in 000s
  
Jun 30,
2017
    
Mar 31,
2017
    
Dec 31,
2016
    
Sept 30,
2016
    
Jun 30,
2016
  
                               
Commercial Real Estate
  
$
436
    
$
252
    
$
183
    
$
192
    
$
291
  
Commercial and Industrial
    
6
      
127
      
36
      
9
      
26
  
Total Commercial Loans
    
442
      
379
      
219
      
201
      
317
  
Residential Mortgage Loans
    
206
      
2
      
58
      
2
      
2
  
Consumer Loans
    
22
      
20
      
23
      
30
      
31
  
Total Non-Performing Loans
  
$
670
    
$
401
    
$
300
    
$
233
    
$
350
  
 
Total non-performing assets were $7.8 million, or 0.44 percent of total assets, at June 30, 2017.  A break-down of non-performing assets is shown in the table below.

 
Dollars in 000s
  
Jun 30,
2017
    
Mar 31,
2017
    
Dec 31,
2016
    
Sept 30,
2016
    
Jun30,
2016
  
                               
Non-Performing Loans
  
$
670
    
$
401
    
$
300
    
$
233
    
$
350
  
Other Repossessed Assets
    
---
      
---
      
---
      
---
      
---
  
Other Real Estate Owned
    
7,097
      
12,074
      
12,253
      
13,110
      
14,066
  
Total Non-Performing Assets
  
$
7,767
    
$
12,475
    
$
12,553
    
$
13,343
    
$
14,416
  
 
Macatawa Bank Corporation 2Q Results / page 4 of 5
 
Balance Sheet, Liquidity and Capital
Total assets were $1.76 billion at June 30, 2017, an increase of $18.1 million from $1.74 billion at December 31, 2016 and an increase of $92.5 million from $1.67 billion at June 30, 2016.  Year end assets typically increase due to year end seasonal inflow of business and municipal deposits.   Total loans were $1.25 billion at June 30, 2017, a decrease of $29.5 million from $1.28 billion at December 31, 2016 and an increase of $39.5 million from $1.21 billion at June 30, 2016.

Commercial loans increased by $55.3 million from June 30, 2016 to June 30, 2017, partially offset by a decrease of $15.8 million in our residential mortgage and consumer loan portfolios.  Commercial real estate loans increased by $1.2 million while commercial and industrial loans increased by $54.2 million during the same period.

Commercial loan production volume was down compared to the first quarter of 2017, but stable as compared the second quarter of 2016.  The following table shows a breakout of the Bank’s commercial loan activity:
 
 
Dollars in 000s
  
2nd Qtr
2017
    
1st Qtr
2017
    
4th Qtr
2016
    
3rd Qtr
2016
    
2nd Qtr
2016
  
                               
Commerical loans originated
  
$
33,435
    
$
60,356
    
$
78,398
    
$
61,112
    
$
34,892
  
Repayments of commercial loans
    
(30,090
)
    
(58,600
)
    
(40,768
)
    
(35,869
)
    
(21,389
)
Change in undist.–available credit
    
(15,706
)
    
(6,960
)
    
6,523
      
3,494
      
164
  
Net change in commercial loans
  
$
(12,361
)
  
$
(5,204
)
  
$
44,153
    
$
28,737
    
$
13,667
  
 
The composition of the commercial loan portfolio is shown in the table below:

 
Dollars in 000s
  
Jun 30,
2017
    
Mar 31,
2017
    
Dec 31,
2016
    
Sept 30,
2016
    
Jun 30,
2016
  
                               
Construction and Development
  
$
82,317
    
$
78,910
    
$
79,596
    
$
76,077
    
$
74,339
  
Other Commercial Real Estate
    
432,223
      
429,898
      
438,385
      
423,991
      
439,036
  
Commercial Loans Secured by Real Estate
    
514,540
      
508,808
      
517,981
      
500,068
      
513,375
  
Commercial and Industrial
    
435,218
      
453,311
      
449,342
      
423,102
      
381,058
  
Total Commercial Loans
  
$
949,758
    
$
962,119
    
$
967,323
    
$
923,170
    
$
894,433
  
                                         
Residential Developer Loans (a)
  
$
21,244
    
$
24,662
    
$
26,003
    
$
26,890
    
$
29,771
  

  (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 $1.46 billion at June 30, 2017, up $11.3 million from $1.45 billion at December 31, 2016 and were up $104.9 million, or 7.7 percent, from $1.36 billion at June 30, 2016.  The increase in total deposits from December 31, 2016 was primarily in interest-bearing checking (up $1.8 million), money market deposits (up $17.4 million), savings (up $7.7 million) and certificates of deposit (up $4.0 million), partially offset by decreases in noninterest checking account balances (down $19.7 million).  The balances of noninterest checking accounts typically are higher at the end of the year as certain businesses and municipal customers have a year-end seasonal increase in their noninterest-bearing checking balances.  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 2Q Results / page 5 of 5

The Bank's risk-based regulatory capital ratios were higher at June 30, 2017 compared to June 30, 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 June 30, 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.
 
CONSOLIDATED FINANCIAL SUMMARY
(Unaudited)
(Dollars in thousands except per share information)
 
   
Quarterly
    
Six Months ended
  
   
2nd Qtr
    
1st Qtr
    
2nd Qtr
    
June 30,
  
EARNINGS SUMMARY
  
2017
    
2017
    
2016
    
2017
    
2016
  
Total interest income
  
$
14,042
    
$
13,848
    
$
12,873
    
$
27,890
    
$
25,881
  
Total interest expense
    
1,337
      
1,265
      
1,265
      
2,602
      
2,535
  
Net interest income
    
12,705
      
12,583
      
11,608
      
25,288
      
23,346
  
Provision for loan losses
    
(500
)
    
(500
)
    
(750
)
    
(1,000
)
    
(850
)
Net interest income after provision for loan losses
    
13,205
      
13,083
      
12,358
      
26,288
      
24,196
  
                                         
NON-INTEREST INCOME
                                        
Deposit service charges
    
1,110
      
1,060
      
1,112
      
2,170
      
2,159
  
Net gains on mortgage loans
    
476
      
428
      
572
      
904
      
1,060
  
Trust fees
    
833
      
778
      
788
      
1,611
      
1,496
  
Other
    
2,059
      
1,965
      
2,064
      
4,024
      
4,429
  
Total non-interest income
    
4,478
      
4,231
      
4,536
      
8,709
      
9,144
  
                                         
NON-INTEREST EXPENSE
                                        
Salaries and benefits
    
6,153
      
5,999
      
6,168
      
12,152
      
12,355
  
Occupancy
    
991
      
1,026
      
901
      
2,017
      
1,883
  
Furniture and equipment
    
750
      
732
      
839
      
1,482
      
1,704
  
FDIC assessment
    
134
      
136
      
220
      
270
      
472
  
Problem asset costs, including losses
    
(158
)
    
95
      
460
      
(63
)
    
871
  
Other
    
2,922
      
2,900
      
2,882
      
5,821
      
5,736
  
Total non-interest expense
    
10,792
      
10,888
      
11,470
      
21,679
      
23,021
  
Income before income tax
    
6,891
      
6,426
      
5,424
      
13,318
      
10,319
  
Income tax expense
    
2,129
      
1,966
      
1,679
      
4,095
      
3,079
  
Net income
  
$
4,762
    
$
4,460
    
$
3,745
    
$
9,223
    
$
7,240
  
                                         
Basic earnings per common share
  
$
0.14
    
$
0.13
    
$
0.11
    
$
0.27
    
$
0.21
  
Diluted earnings per common share
  
$
0.14
    
$
0.13
    
$
0.11
    
$
0.27
    
$
0.21
  
Return on average assets
    
1.11
%
    
1.05
%
    
0.91
%
    
1.08
%
    
0.87
%
Return on average equity
    
11.32
%
    
10.86
%
    
9.56
%
    
11.09
%
    
9.31
%
Net interest margin (fully taxable equivalent)
    
3.24
%
    
3.26
%
    
3.08
%
    
3.25
%
    
3.09
%
Efficiency ratio
    
62.81
%
    
64.76
%
    
71.05
%
    
63.77
%
    
70.86
%
 
BALANCE SHEET DATA
  
June 30,
    
March 31,
    
June 30,
  
Assets
  
2017
    
2017
    
2016
  
Cash and due from banks
  
$
31,165
    
$
30,631
    
$
30,045
  
Federal funds sold and other short-term investments
    
114,104
      
83,118
      
94,888
  
Securities available for sale
    
184,761
      
184,605
      
173,580
  
Securities held to maturity
    
68,818
      
68,473
      
49,373
  
Federal Home Loan Bank Stock
    
11,558
      
11,558
      
11,558
  
Loans held for sale
    
3,184
      
2,767
      
1,138
  
Total loans
    
1,251,355
      
1,266,128
      
1,211,844
  
Less allowance for loan loss
    
16,570
      
16,696
      
16,959
  
Net loans
    
1,234,785
      
1,249,432
      
1,194,885
  
Premises and equipment, net
    
48,626
      
49,832
      
50,639
  
Bank-owned life insurance
    
39,781
      
39,524
      
28,942
  
Other real estate owned
    
7,097
      
12,074
      
14,066
  
Other assets
    
15,184
      
16,839
      
17,433
  
                         
Total Assets
  
$
1,759,063
    
$
1,748,853
    
$
1,666,547
  
                         
Liabilities and Shareholders' Equity
                        
Noninterest-bearing deposits
  
$
481,769
    
$
466,415
    
$
451,644
  
Interest-bearing deposits
    
978,221
      
966,731
      
903,434
  
Total deposits
    
1,459,990
      
1,433,146
      
1,355,078
  
Other borrowed funds
    
82,785
      
102,785
      
104,840
  
Long-term debt
    
41,238
      
41,238
      
41,238
  
Other liabilities
    
4,875
      
5,539
      
6,929
  
Total Liabilities
    
1,588,888
      
1,582,708
      
1,508,085
  
                         
Shareholders' equity
    
170,175
      
166,145
      
158,462
  
                         
Total Liabilities and Shareholders' Equity
  
$
1,759,063
    
$
1,748,853
    
$
1,666,547
  
 
MACATAWA BANK CORPORATION
SELECTED CONSOLIDATED FINANCIAL DATA
(Unaudited)
(Dollars in thousands except per share information)
 
   
Quarterly
    
Year to Date
  
                                           
   
2nd Qtr
    
1st Qtr
    
4th Qtr
    
3rd Qtr
    
2nd Qtr
              
   
2017
    
2017
    
2016
    
2016
    
2016
    
2017
    
2016
  
EARNINGS SUMMARY
                                          
Net interest income
  
$
12,705
    
$
12,583
    
$
12,292
    
$
11,902
    
$
11,608
    
$
25,288
    
$
23,346
  
Provision for loan losses
    
(500
)
    
(500
)
    
(250
)
    
(250
)
    
(750
)
    
(1,000
)
    
(850
)
Total non-interest income
    
4,478
      
4,231
      
4,856
      
5,075
      
4,536
      
8,709
      
9,144
  
Total non-interest expense
    
10,792
      
10,888
      
11,488
      
11,273
      
11,470
      
21,679
      
23,021
  
Federal income tax expense
    
2,129
      
1,966
      
1,802
      
1,350
      
1,679
      
4,095
      
3,079
  
Net income
  
$
4,762
    
$
4,460
    
$
4,108
    
$
4,604
    
$
3,745
    
$
9,223
    
$
7,240
  
                                                         
Basic earnings per common share
  
$
0.14
    
$
0.13
    
$
0.12
    
$
0.14
    
$
0.11
    
$
0.27
    
$
0.21
  
Diluted earnings per common share
  
$
0.14
    
$
0.13
    
$
0.12
    
$
0.14
    
$
0.11
    
$
0.27
    
$
0.21
  
                                                         
MARKET DATA
                                                        
Book value per common share
  
$
5.01
    
$
4.89
    
$
4.78
    
$
4.78
    
$
4.67
    
$
5.01
    
$
4.67
  
Tangible book value per common share
  
$
5.01
    
$
4.89
    
$
4.78
    
$
4.78
    
$
4.67
    
$
5.01
    
$
4.67
  
Market value per common share
  
$
9.54
    
$
9.88
    
$
10.41
    
$
7.99
    
$
7.42
    
$
9.54
    
$
7.42
  
Average basic common shares
    
33,942,318
      
33,941,010
      
33,920,535
      
33,921,599
      
33,922,506
      
33,941,668
      
33,923,810
  
Average diluted common shares
    
33,948,127
      
33,948,584
      
33,923,371
      
33,921,599
      
33,922,506
      
33,948,371
      
33,923,810
  
Period end common shares
    
33,938,486
      
33,944,788
      
33,940,788
      
33,920,740
      
33,922,289
      
33,938,486
      
33,922,289
  
                                                         
PERFORMANCE RATIOS
                                                        
Return on average assets
    
1.11
%
    
1.05
%
    
0.97
%
    
1.10
%
    
0.91
%
    
1.08
%
    
0.87
%
Return on average equity
    
11.32
%
    
10.86
%
    
10.08
%
    
11.50
%
    
9.56
%
    
11.09
%
    
9.31
%
Net interest margin (fully taxable equivalent)
    
3.24
%
    
3.26
%
    
3.17
%
    
3.08
%
    
3.08
%
    
3.25
%
    
3.09
%
Efficiency ratio
    
62.81
%
    
64.76
%
    
66.99
%
    
66.40
%
    
71.05
%
    
63.77
%
    
70.86
%
Full-time equivalent employees (period end)
    
344
      
338
      
342
      
337
      
343
      
344
      
343
  
                                                         
ASSET QUALITY
                                                        
Gross charge-offs
  
$
139
    
$
26
    
$
47
    
$
46
    
$
36
    
$
165
    
$
112
  
Net charge-offs
  
$
(374
)
  
$
(234
)
  
$
(364
)
  
$
(138
)
  
$
(580
)
  
$
(608
)
  
$
(728
)
Net charge-offs to average loans (annualized)
    
-0.12
%
    
-0.07
%
    
-0.12
%
    
-0.05
%
    
-0.19
%
    
-0.10
%
    
-0.12
%
Nonperforming loans
  
$
670
    
$
401
    
$
300
    
$
233
    
$
350
    
$
670
    
$
350
  
Other real estate and repossessed assets
  
$
7,097
    
$
12,074
    
$
12,253
    
$
13,110
    
$
14,066
    
$
7,097
    
$
14,066
  
Nonperforming loans to total loans
    
0.05
%
    
0.03
%
    
0.02
%
    
0.02
%
    
0.03
%
    
0.05
%
    
0.03
%
Nonperforming assets to total assets
    
0.44
%
    
0.71
%
    
0.72
%
    
0.81
%
    
0.87
%
    
0.44
%
    
0.87
%
Allowance for loan losses
  
$
16,570
    
$
16,696
    
$
16,962
    
$
16,847
    
$
16,959
    
$
16,570
    
$
16,959
  
Allowance for loan losses to total loans
    
1.32
%
    
1.32
%
    
1.32
%
    
1.36
%
    
1.40
%
    
1.32
%
    
1.40
%
Allowance for loan losses to nonperforming loans
    
2473.13
%
    
4163.34
%
    
5654.00
%
    
7230.47
%
    
4845.43
%
    
2473.13
%
    
4845.43
%
                                                         
CAPITAL
                                                        
Average equity to average assets
    
9.76
%
    
9.63
%
    
9.62
%
    
9.53
%
    
9.47
%
    
9.76
%
    
9.37
%
Common equity tier 1 to risk weighted assets (Consolidated)
    
11.60
%
    
11.28
%
    
11.03
%
    
11.30
%
    
11.14
%
    
11.60
%
    
11.14
%
Tier 1 capital to average assets (Consolidated)
    
12.21
%
    
12.11
%
    
12.01
%
    
11.97
%
    
11.93
%
    
12.21
%
    
11.93
%
Total capital to risk-weighted assets (Consolidated)
    
15.45
%
    
15.12
%
    
14.88
%
    
15.30
%
    
15.18
%
    
15.45
%
    
15.18
%
Common equity tier 1 to risk weighted assets (Bank)
    
13.89
%
    
13.60
%
    
13.35
%
    
13.71
%
    
13.59
%
    
13.89
%
    
13.59
%
Tier 1 capital to average assets (Bank)
    
11.87
%
    
11.79
%
    
11.69
%
    
11.64
%
    
11.61
%
    
11.87
%
    
11.61
%
Total capital to risk-weighted assets (Bank)
    
15.02
%
    
14.73
%
    
14.49
%
    
14.90
%
    
14.80
%
    
15.02
%
    
14.80
%
Tangible common equity to assets
    
9.70
%
    
9.51
%
    
9.33
%
    
9.82
%
    
9.52
%
    
9.70
%
    
9.52
%
                                                         
END OF PERIOD BALANCES
                                                        
Total portfolio loans
  
$
1,251,355
    
$
1,266,128
    
$
1,280,812
    
$
1,236,395
    
$
1,211,844
    
$
1,251,355
    
$
1,211,844
  
Earning assets
    
1,633,383
      
1,617,331
      
1,612,533
      
1,514,797
      
1,539,877
      
1,633,383
      
1,539,877
  
Total assets
    
1,759,063
      
1,748,853
      
1,741,013
      
1,653,686
      
1,666,547
      
1,759,063
      
1,666,547
  
Deposits
    
1,459,990
      
1,433,146
      
1,448,724
      
1,358,627
      
1,355,078
      
1,459,990
      
1,355,078
  
Total shareholders' equity
    
170,175
      
166,145
      
162,239
      
162,245
      
158,462
      
170,175
      
158,462
  
                                                         
AVERAGE BALANCES
                                                        
Total portfolio loans
  
$
1,260,051
    
$
1,264,835
    
$
1,245,093
    
$
1,215,953
    
$
1,212,836
    
$
1,262,430
    
$
1,207,759
  
Earning assets
    
1,594,849
      
1,579,758
      
1,566,238
      
1,555,550
      
1,531,535
      
1,587,345
      
1,535,351
  
Total assets
    
1,723,575
      
1,706,643
      
1,696,007
      
1,680,097
      
1,654,325
      
1,715,156
      
1,658,958
  
Deposits
    
1,419,775
      
1,397,596
      
1,401,186
      
1,377,462
      
1,346,703
      
1,408,747
      
1,356,292
  
Total shareholders' equity
    
168,240
      
164,317
      
163,092
      
160,196
      
156,664
      
166,289
      
155,454