For Immediate Release
|
|
NASDAQ Stock Market: MCBC
|
• |
Full year net income of $34.7 million versus $29.0 million in the prior year
|
• |
Net income of $12.1 million in fourth quarter 2022 – up 21% versus $10.0 million in third quarter 2022 and up 95% versus $6.2 million in fourth quarter 2021
|
• |
Net interest margin increased 48 basis points to 3.34% in fourth quarter 2022 versus third quarter 2022 and increased 149 basis points versus fourth quarter 2021
|
• |
Intentional asset-sensitive balance sheet structure continued to produce improved net interest income and net interest margin in rising interest rate environment
|
• |
Continued loan portfolio growth – $39.1 million, or 14% annualized growth rate, for the fourth quarter 2022
|
• |
Provision for loan losses of $375,000 due primarily to loan growth
|
• |
Grew investment securities portfolio by $44.8 million in fourth quarter 2022 to supplement loan growth and continued deployment of excess liquidity
|
• |
Deposit portfolio balances showed further growth in fourth quarter 2022
|
Dollars in 000s
|
Q4 2022
to
Q3 2022
|
Q4 2022
to
Q4 2021
|
||||||
Salaries and other compensation
|
$
|
(9
|
)
|
$
|
332
|
|||
Salary deferral from commercial loans
|
---
|
26
|
||||||
Bonus accrual
|
25
|
(64
|
)
|
|||||
Mortgage production – variable comp
|
(37
|
)
|
(93
|
)
|
||||
Brokerage – variable comp
|
128
|
110
|
||||||
401k matching contributions
|
(18
|
)
|
84
|
|||||
Medical insurance costs
|
136
|
445
|
||||||
Total change in salaries and benefits
|
$
|
225
|
$
|
840
|
Dollars in 000s
|
Dec 31,
2022
|
Sept 30,
2022
|
June 30,
2022
|
Mar 31,
2022
|
Dec 31,
2021
|
|||||||||||||||
Commercial Real Estate
|
$
|
---
|
$
|
---
|
$
|
5
|
$
|
5
|
$
|
5
|
||||||||||
Commercial and Industrial
|
---
|
---
|
1
|
1
|
1
|
|||||||||||||||
Total Commercial Loans
|
---
|
---
|
6
|
6
|
6
|
|||||||||||||||
Residential Mortgage Loans
|
78
|
85
|
84
|
84
|
86
|
|||||||||||||||
Consumer Loans
|
---
|
---
|
---
|
---
|
---
|
|||||||||||||||
Total Non-Performing Loans
|
$
|
78
|
$
|
85
|
$
|
90
|
$
|
90
|
$
|
92
|
Dollars in 000s
|
Dec 31,
2022
|
Sept 30,
2022
|
June 30,
2022
|
Mar 31,
2022
|
Dec 31,
2021
|
|||||||||||||||
Non-Performing Loans
|
$
|
78
|
$
|
85
|
$
|
90
|
$
|
90
|
$
|
92
|
||||||||||
Other Repossessed Assets
|
---
|
---
|
---
|
---
|
---
|
|||||||||||||||
Other Real Estate Owned
|
2,343
|
2,343
|
2,343
|
2,343
|
2,343
|
|||||||||||||||
Total Non-Performing Assets
|
$
|
2,421
|
$
|
2,428
|
$
|
2,433
|
$
|
2,433
|
$
|
2,435
|
Dollars in 000s
|
Dec 31,
2022
|
Sept 30,
2022
|
June 30,
2022
|
Mar 31,
2022
|
Dec 31,
2021
|
|||||||||||||||
Construction and Development
|
$
|
116,715
|
$
|
111,624
|
$
|
107,325
|
$
|
104,945
|
$
|
103,755
|
||||||||||
Other Commercial Real Estate
|
420,888
|
410,600
|
411,778
|
417,368
|
412,346
|
|||||||||||||||
Commercial Loans Secured by Real Estate
|
537,603
|
522,224
|
519,103
|
522,313
|
516,101
|
|||||||||||||||
Commercial and Industrial
|
441,716
|
427,034
|
407,788
|
402,854
|
378,318
|
|||||||||||||||
Paycheck Protection Program
|
---
|
32
|
2,791
|
7,393
|
41,939
|
|||||||||||||||
Total Commercial Loans
|
$
|
979,319
|
$
|
949,290
|
$
|
929,682
|
$
|
932,560
|
$
|
936,358
|
Jon W. Swets
|
|
Chief Financial Officer
|
|
616-494-7645
|
|
jswets@macatawabank.com
|
Quarterly
|
Twelve Months Ended
|
|||||||||||||||||||
EARNINGS SUMMARY
|
4th Qtr
2022
|
3rd Qtr
2022
|
4th Qtr
2021
|
December 31
|
||||||||||||||||
2022
|
2021
|
|||||||||||||||||||
Total interest income
|
$
|
25,454
|
$
|
20,875
|
$
|
13,334
|
$
|
74,906
|
$
|
58,634
|
||||||||||
Total interest expense
|
2,587
|
1,104
|
508
|
4,760
|
2,565
|
|||||||||||||||
Net interest income
|
22,867
|
19,771
|
12,826
|
70,146
|
56,069
|
|||||||||||||||
Provision for loan losses
|
375
|
-
|
(750
|
)
|
(1,125
|
)
|
(2,050
|
)
|
||||||||||||
Net interest income after provision for loan losses
|
22,492
|
19,771
|
13,576
|
71,271
|
58,119
|
|||||||||||||||
NON-INTEREST INCOME
|
||||||||||||||||||||
Deposit service charges
|
1,077
|
1,263
|
1,206
|
4,769
|
4,446
|
|||||||||||||||
Net gains on mortgage loans
|
32
|
166
|
514
|
706
|
4,691
|
|||||||||||||||
Trust fees
|
990
|
969
|
1,114
|
4,143
|
4,331
|
|||||||||||||||
Other
|
2,936
|
2,491
|
2,512
|
10,401
|
10,227
|
|||||||||||||||
Total non-interest income
|
5,035
|
4,889
|
5,346
|
20,019
|
23,695
|
|||||||||||||||
NON-INTEREST EXPENSE
|
||||||||||||||||||||
Salaries and benefits
|
6,864
|
6,639
|
6,024
|
26,194
|
25,216
|
|||||||||||||||
Occupancy
|
968
|
989
|
963
|
4,200
|
3,986
|
|||||||||||||||
Furniture and equipment
|
991
|
1,014
|
1,011
|
4,008
|
3,940
|
|||||||||||||||
FDIC assessment
|
211
|
201
|
217
|
789
|
749
|
|||||||||||||||
Other
|
3,414
|
3,284
|
3,122
|
13,035
|
12,199
|
|||||||||||||||
Total non-interest expense
|
12,448
|
12,127
|
11,337
|
48,226
|
46,090
|
|||||||||||||||
Income before income tax
|
15,079
|
12,533
|
7,585
|
43,064
|
35,724
|
|||||||||||||||
Income tax expense
|
2,961
|
2,488
|
1,369
|
8,333
|
6,710
|
|||||||||||||||
Net income
|
$
|
12,118
|
$
|
10,045
|
$
|
6,216
|
$
|
34,731
|
$
|
29,014
|
||||||||||
Basic earnings per common share
|
$
|
0.35
|
$
|
0.29
|
$
|
0.18
|
$
|
1.01
|
$
|
0.85
|
||||||||||
Diluted earnings per common share
|
$
|
0.35
|
$
|
0.29
|
$
|
0.18
|
$
|
1.01
|
$
|
0.85
|
||||||||||
Return on average assets
|
1.72
|
%
|
1.40
|
%
|
0.85
|
%
|
1.21
|
%
|
1.02
|
%
|
||||||||||
Return on average equity
|
20.22
|
%
|
16.41
|
%
|
9.84
|
%
|
14.19
|
%
|
11.74
|
%
|
||||||||||
Net interest margin (fully taxable equivalent)
|
3.34
|
%
|
2.86
|
%
|
1.85
|
%
|
2.56
|
%
|
2.09
|
%
|
||||||||||
Efficiency ratio
|
44.61
|
%
|
49.18
|
%
|
62.39
|
%
|
53.49
|
%
|
57.78
|
%
|
||||||||||
BALANCE SHEET DATA
|
December 31
|
September 30
|
December 31
|
|||||||||
Assets
|
2022
|
2022
|
2021
|
|||||||||
Cash and due from banks
|
$
|
51,215
|
$
|
33,205
|
$
|
23,669
|
||||||
Federal funds sold and other short-term investments
|
703,955
|
733,347
|
1,128,119
|
|||||||||
Debt securities available for sale
|
499,257
|
453,728
|
416,063
|
|||||||||
Debt securities held to maturity
|
348,765
|
349,481
|
137,003
|
|||||||||
Federal Home Loan Bank Stock
|
10,211
|
10,211
|
11,558
|
|||||||||
Loans held for sale
|
215
|
234
|
1,407
|
|||||||||
Total loans
|
1,177,748
|
1,138,645
|
1,108,993
|
|||||||||
Less allowance for loan loss
|
15,285
|
14,821
|
15,889
|
|||||||||
Net loans
|
1,162,463
|
1,123,824
|
1,093,104
|
|||||||||
Premises and equipment, net
|
40,306
|
40,670
|
41,773
|
|||||||||
Bank-owned life insurance
|
53,345
|
53,193
|
52,468
|
|||||||||
Other real estate owned
|
2,343
|
2,343
|
2,343
|
|||||||||
Other assets
|
34,844
|
34,802
|
21,244
|
|||||||||
Total Assets
|
$
|
2,906,919
|
$
|
2,835,038
|
$
|
2,928,751
|
||||||
Liabilities and Shareholders' Equity
|
||||||||||||
Noninterest-bearing deposits
|
$
|
834,879
|
$
|
855,744
|
$
|
886,115
|
||||||
Interest-bearing deposits
|
1,780,263
|
1,700,453
|
1,691,843
|
|||||||||
Total deposits
|
2,615,142
|
2,556,197
|
2,577,958
|
|||||||||
Other borrowed funds
|
30,000
|
30,000
|
85,000
|
|||||||||
Long-term debt
|
-
|
-
|
-
|
|||||||||
Other liabilities
|
14,739
|
12,287
|
11,788
|
|||||||||
Total Liabilities
|
2,659,881
|
2,598,484
|
2,674,746
|
|||||||||
Shareholders' equity
|
247,038
|
236,554
|
254,005
|
|||||||||
Total Liabilities and Shareholders' Equity
|
$
|
2,906,919
|
$
|
2,835,038
|
$
|
2,928,751
|
Quarterly
|
Year to Date
|
|||||||||||||||||||||||||||
4th Qtr
2022
|
3rd Qtr
2022
|
2nd Qtr
2022
|
1st Qtr
2022
|
4th Qtr
2021
|
2022
|
2021
|
||||||||||||||||||||||
EARNINGS SUMMARY
|
||||||||||||||||||||||||||||
Net interest income
|
$
|
22,867
|
$
|
19,771
|
$
|
14,843
|
$
|
12,665
|
$
|
12,826
|
$
|
70,146
|
$
|
56,069
|
||||||||||||||
Provision for loan losses
|
375
|
-
|
-
|
(1,500
|
)
|
(750
|
)
|
(1,125
|
)
|
(2,050
|
)
|
|||||||||||||||||
Total non-interest income
|
5,035
|
4,889
|
5,131
|
4,965
|
5,346
|
20,019
|
23,695
|
|||||||||||||||||||||
Total non-interest expense
|
12,448
|
12,127
|
11,913
|
11,739
|
11,337
|
48,226
|
46,090
|
|||||||||||||||||||||
Federal income tax expense
|
2,961
|
2,488
|
1,493
|
1,391
|
1,369
|
8,333
|
6,710
|
|||||||||||||||||||||
Net income
|
$
|
12,118
|
$
|
10,045
|
$
|
6,568
|
$
|
6,000
|
$
|
6,216
|
$
|
34,731
|
$
|
29,014
|
||||||||||||||
Basic earnings per common share
|
$
|
0.35
|
$
|
0.29
|
$
|
0.19
|
$
|
0.18
|
$
|
0.18
|
$
|
1.01
|
$
|
0.85
|
||||||||||||||
Diluted earnings per common share
|
$
|
0.35
|
$
|
0.29
|
$
|
0.19
|
$
|
0.18
|
$
|
0.18
|
$
|
1.01
|
$
|
0.85
|
||||||||||||||
MARKET DATA
|
||||||||||||||||||||||||||||
Book value per common share
|
$
|
7.20
|
$
|
6.91
|
$
|
7.10
|
$
|
7.17
|
$
|
7.41
|
$
|
7.20
|
$
|
7.41
|
||||||||||||||
Tangible book value per common share
|
$
|
7.20
|
$
|
6.91
|
$
|
7.10
|
$
|
7.17
|
$
|
7.41
|
$
|
7.20
|
$
|
7.41
|
||||||||||||||
Market value per common share
|
$
|
11.03
|
$
|
9.26
|
$
|
8.84
|
$
|
9.01
|
$
|
8.82
|
$
|
11.03
|
$
|
8.82
|
||||||||||||||
Average basic common shares
|
34,277,839
|
34,251,792
|
34,253,846
|
34,254,772
|
34,229,664
|
34,259,604
|
34,202,179
|
|||||||||||||||||||||
Average diluted common shares
|
34,277,839
|
34,251,792
|
34,253,846
|
34,254,772
|
34,229,664
|
34,259,604
|
34,202,179
|
|||||||||||||||||||||
Period end common shares
|
34,298,640
|
34,251,485
|
34,253,147
|
34,253,962
|
34,259,945
|
34,298,640
|
34,259,945
|
|||||||||||||||||||||
PERFORMANCE RATIOS
|
||||||||||||||||||||||||||||
Return on average assets
|
1.72
|
%
|
1.40
|
%
|
0.92
|
%
|
0.82
|
%
|
0.85
|
%
|
1.21
|
%
|
1.02
|
%
|
||||||||||||||
Return on average equity
|
20.22
|
%
|
16.41
|
%
|
10.80
|
%
|
9.54
|
%
|
9.84
|
%
|
14.19
|
%
|
11.74
|
%
|
||||||||||||||
Efficiency ratio
|
44.61
|
%
|
49.18
|
%
|
59.64
|
%
|
66.59
|
%
|
62.39
|
%
|
53.49
|
%
|
57.78
|
%
|
||||||||||||||
Full-time equivalent employees (period end)
|
318
|
316
|
315
|
311
|
311
|
318
|
311
|
|||||||||||||||||||||
YIELDS AND COST OF FUNDS RATIOS
|
||||||||||||||||||||||||||||
Federal funds sold and other short-term investments
|
3.72
|
%
|
2.27
|
%
|
0.79
|
%
|
0.19
|
%
|
0.15
|
%
|
1.53
|
%
|
0.13
|
%
|
||||||||||||||
Debt securities (fully taxable equivalent)
|
2.25
|
%
|
2.07
|
%
|
1.87
|
%
|
1.66
|
%
|
1.78
|
%
|
1.99
|
%
|
1.99
|
%
|
||||||||||||||
Commercial loans
|
4.93
|
%
|
4.30
|
%
|
3.79
|
%
|
3.88
|
%
|
4.01
|
%
|
4.22
|
%
|
4.05
|
%
|
||||||||||||||
Residential mortgage loans
|
3.53
|
%
|
3.39
|
%
|
3.27
|
%
|
3.22
|
%
|
3.29
|
%
|
3.36
|
%
|
3.41
|
%
|
||||||||||||||
Consumer loans
|
6.22
|
%
|
5.18
|
%
|
4.09
|
%
|
3.89
|
%
|
3.95
|
%
|
4.88
|
%
|
4.05
|
%
|
||||||||||||||
Total loans
|
4.83
|
%
|
4.24
|
%
|
3.74
|
%
|
3.81
|
%
|
3.93
|
%
|
4.16
|
%
|
3.98
|
%
|
||||||||||||||
Total yield on interest earning assets (fully taxable equivalent)
|
3.72
|
%
|
3.02
|
%
|
2.28
|
%
|
1.92
|
%
|
1.92
|
%
|
2.73
|
%
|
2.19
|
%
|
||||||||||||||
Interest bearing demand deposits
|
0.34
|
%
|
0.14
|
%
|
0.03
|
%
|
0.02
|
%
|
0.02
|
%
|
0.14
|
%
|
0.03
|
%
|
||||||||||||||
Savings and money market accounts
|
0.73
|
%
|
0.29
|
%
|
0.07
|
%
|
0.03
|
%
|
0.03
|
%
|
0.28
|
%
|
0.03
|
%
|
||||||||||||||
Time deposits
|
0.84
|
%
|
0.29
|
%
|
0.20
|
%
|
0.23
|
%
|
0.31
|
%
|
0.40
|
%
|
0.49
|
%
|
||||||||||||||
Total interest bearing deposits
|
0.57
|
%
|
0.22
|
%
|
0.06
|
%
|
0.04
|
%
|
0.04
|
%
|
0.23
|
%
|
0.06
|
%
|
||||||||||||||
Other borrowed funds
|
2.08
|
%
|
2.08
|
%
|
2.53
|
%
|
1.51
|
%
|
1.50
|
%
|
1.96
|
%
|
1.77
|
%
|
||||||||||||||
Total average cost of funds on interest bearing liabilities
|
0.60
|
%
|
0.26
|
%
|
0.14
|
%
|
0.11
|
%
|
0.11
|
%
|
0.28
|
%
|
0.15
|
%
|
||||||||||||||
Net interest margin (fully taxable equivalent)
|
3.34
|
%
|
2.86
|
%
|
2.19
|
%
|
1.85
|
%
|
1.85
|
%
|
2.56
|
%
|
2.09
|
%
|
||||||||||||||
ASSET QUALITY
|
||||||||||||||||||||||||||||
Gross charge-offs
|
$
|
23
|
$
|
46
|
$
|
60
|
$
|
35
|
$
|
22
|
$
|
164
|
$
|
124
|
||||||||||||||
Net charge-offs/(recoveries)
|
$
|
(89
|
)
|
$
|
(190
|
)
|
$
|
(15
|
)
|
$
|
(227
|
)
|
$
|
(107
|
)
|
$
|
(521
|
)
|
$
|
(531
|
)
|
|||||||
Net charge-offs to average loans (annualized)
|
-0.03
|
%
|
-0.07
|
%
|
-0.01
|
%
|
-0.08
|
%
|
-0.04
|
%
|
-0.05
|
%
|
-0.04
|
%
|
||||||||||||||
Nonperforming loans
|
$
|
78
|
$
|
85
|
$
|
90
|
$
|
90
|
$
|
92
|
$
|
78
|
$
|
92
|
||||||||||||||
Other real estate and repossessed assets
|
$
|
2,343
|
$
|
2,343
|
$
|
2,343
|
$
|
2,343
|
$
|
2,343
|
$
|
2,343
|
$
|
2,343
|
||||||||||||||
Nonperforming loans to total loans
|
0.01
|
%
|
0.01
|
%
|
0.01
|
%
|
0.01
|
%
|
0.01
|
%
|
0.01
|
%
|
0.01
|
%
|
||||||||||||||
Nonperforming assets to total assets
|
0.08
|
%
|
0.09
|
%
|
0.09
|
%
|
0.08
|
%
|
0.08
|
%
|
0.08
|
%
|
0.08
|
%
|
||||||||||||||
Allowance for loan losses
|
$
|
15,285
|
$
|
14,821
|
$
|
14,631
|
$
|
14,616
|
$
|
15,889
|
$
|
15,285
|
$
|
15,889
|
||||||||||||||
Allowance for loan losses to total loans
|
1.30
|
%
|
1.30
|
%
|
1.32
|
%
|
1.33
|
%
|
1.43
|
%
|
1.30
|
%
|
1.43
|
%
|
||||||||||||||
Allowance for loan losses to total loans (excluding PPP loans)
|
1.30
|
%
|
1.30
|
%
|
1.32
|
%
|
1.34
|
%
|
1.49
|
%
|
1.30
|
%
|
1.49
|
%
|
||||||||||||||
Allowance for loan losses to nonperforming loans
|
19596.15
|
%
|
17436.47
|
%
|
16256.67
|
%
|
16240.00
|
%
|
17270.65
|
%
|
19596.15
|
%
|
17270.65
|
%
|
||||||||||||||
CAPITAL
|
||||||||||||||||||||||||||||
Average equity to average assets
|
8.49
|
%
|
8.52
|
%
|
8.55
|
%
|
8.62
|
%
|
8.66
|
%
|
8.55
|
%
|
8.71
|
%
|
||||||||||||||
Common equity tier 1 to risk weighted assets (Consolidated)
|
16.94
|
%
|
16.72
|
%
|
16.54
|
%
|
16.92
|
%
|
17.24
|
%
|
16.94
|
%
|
17.24
|
%
|
||||||||||||||
Tier 1 capital to average assets (Consolidated)
|
9.73
|
%
|
9.29
|
%
|
9.13
|
%
|
8.82
|
%
|
8.72
|
%
|
9.73
|
%
|
8.72
|
%
|
||||||||||||||
Total capital to risk-weighted assets (Consolidated)
|
17.87
|
%
|
17.64
|
%
|
17.47
|
%
|
17.88
|
%
|
18.32
|
%
|
17.87
|
%
|
18.32
|
%
|
||||||||||||||
Common equity tier 1 to risk weighted assets (Bank)
|
16.44
|
%
|
16.24
|
%
|
16.04
|
%
|
16.39
|
%
|
16.70
|
%
|
16.44
|
%
|
16.70
|
%
|
||||||||||||||
Tier 1 capital to average assets (Bank)
|
9.44
|
%
|
9.02
|
%
|
8.85
|
%
|
8.55
|
%
|
8.44
|
%
|
9.44
|
%
|
8.44
|
%
|
||||||||||||||
Total capital to risk-weighted assets (Bank)
|
17.37
|
%
|
17.16
|
%
|
16.97
|
%
|
17.35
|
%
|
17.77
|
%
|
17.37
|
%
|
17.77
|
%
|
||||||||||||||
Common equity to assets
|
8.50
|
%
|
8.34
|
%
|
8.74
|
%
|
8.38
|
%
|
8.67
|
%
|
8.50
|
%
|
8.67
|
%
|
||||||||||||||
Tangible common equity to assets
|
8.50
|
%
|
8.34
|
%
|
8.74
|
%
|
8.38
|
%
|
8.67
|
%
|
8.50
|
%
|
8.67
|
%
|
||||||||||||||
END OF PERIOD BALANCES
|
||||||||||||||||||||||||||||
Total portfolio loans
|
$
|
1,177,748
|
$
|
1,138,645
|
$
|
1,111,915
|
$
|
1,101,902
|
$
|
1,108,993
|
$
|
1,177,748
|
$
|
1,108,993
|
||||||||||||||
Earning assets
|
2,781,515
|
2,727,924
|
2,655,706
|
2,802,498
|
2,803,853
|
2,781,515
|
2,803,853
|
|||||||||||||||||||||
Total assets
|
2,906,919
|
2,835,038
|
2,781,208
|
2,929,883
|
2,928,751
|
2,906,919
|
2,928,751
|
|||||||||||||||||||||
Deposits
|
2,615,142
|
2,556,197
|
2,494,583
|
2,582,297
|
2,577,958
|
2,615,142
|
2,577,958
|
|||||||||||||||||||||
Total shareholders' equity
|
247,038
|
236,554
|
243,109
|
245,602
|
254,005
|
247,038
|
254,005
|
|||||||||||||||||||||
AVERAGE BALANCES
|
||||||||||||||||||||||||||||
Federal funds sold and other short-term investments
|
$
|
681,489
|
$
|
923,153
|
$
|
858,545
|
$
|
1,111,216
|
$
|
1,230,618
|
$
|
862,240
|
$
|
1,067,237
|
||||||||||||||
Total debt securities
|
862,613
|
711,765
|
751,411
|
572,708
|
426,871
|
749,787
|
362,972
|
|||||||||||||||||||||
Total portfolio loans
|
1,159,449
|
1,124,950
|
1,103,955
|
1,092,673
|
1,109,863
|
1,120,453
|
1,253,706
|
|||||||||||||||||||||
Earning assets
|
2,713,294
|
2,746,975
|
2,724,714
|
2,788,254
|
2,780,236
|
2,743,141
|
2,698,846
|
|||||||||||||||||||||
Total assets
|
2,822,770
|
2,874,343
|
2,847,381
|
2,917,462
|
2,917,569
|
2,865,254
|
2,836,627
|
|||||||||||||||||||||
Noninterest bearing deposits
|
847,752
|
917,552
|
897,727
|
875,223
|
899,670
|
884,579
|
885,838
|
|||||||||||||||||||||
Total interest bearing deposits
|
1,687,693
|
1,668,613
|
1,639,384
|
1,694,092
|
1,665,292
|
1,672,417
|
1,604,999
|
|||||||||||||||||||||
Total deposits
|
2,535,446
|
2,586,165
|
2,537,111
|
2,569,315
|
2,564,961
|
2,556,996
|
2,490,838
|
|||||||||||||||||||||
Borrowings
|
30,000
|
56,234
|
54,305
|
85,002
|
85,000
|
49,622
|
84,810
|
|||||||||||||||||||||
Total shareholders' equity
|
239,684
|
244,857
|
243,352
|
251,600
|
252,606
|
244,841
|
247,075
|