Macatawa Bank Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PREMISES AND EQUIPMENT - NET

PREMISES AND EQUIPMENT - NET

12 Months Ended

Dec. 31, 2017

PREMISES AND EQUIPMENT - NET [Abstract]

PREMISES AND EQUIPMENT - NET

NOTE 6 – PREMISES AND EQUIPMENT – NET

Year-end premises and equipment were as follows (dollars in thousands):

	2017			2016
Land	$	16,384		$	18,227
Building		43,625			43,600
Leasehold improvements		782			779
Furniture and equipment		21,680			20,576
Construction in progress		243			358
		82,714			83,540
Less accumulated depreciation		(36,085	)		(33,514	)
	$	46,629		$	50,026

Depreciation expense was $2,606,000, $2,618,000 and $2,608,000 for 2017, 2016 and 2015, respectively.

The Bank leases certain office and branch premises and equipment under operating lease agreements. Total rental expense for all operating leases aggregated to $410,000, $398,000 and $417,000 for 2017, 2016 and 2015, respectively. Future minimum rental expense under noncancelable operating leases as of December 31, 2017 is as follows (dollars in thousands):

2018	$	241
2019		238
2020		132
2021		---
2022		---
Thereafter		---
	$	611