Macatawa Bank Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

SECURITIES (Tables)

SECURITIES (Tables)

9 Months Ended

Sep. 30, 2012

Amortized cost and fair value of securities

The amortized cost and fair value of securities at period-end were as follows (dollars in thousands):

	Amortized		Gross Unrealized		Gross Unrealized			Fair
	Cost		Gains		Losses			Value
September 30, 2012
Available for Sale:
U.S. Treasury and federal agency securities	$	40,334	$	358	$	---		$	40,692
U.S. Agency MBS and CMOs		25,197		294		---			25,491
Tax-exempt state and municipal bonds		17,091		251		(23	)		17,319
Taxable state and municipal bonds		25,531		713		(8	)		26,236

Corporate bonds and other debt securities		4,741		74		---			4,815
Other equity securities		1,500		75		---			1,575
	$	114,394	$	1,765	$	(31	)	$	116,128
Held to Maturity
State and municipal bonds	$	4,300	$	---	$	---		$	4,300


December 31, 2011
U.Available for Sale:
U.S. Treasury and federal agency securities	$	27,408	$	205	$	---		$	27,613
U. S. Agency MBS and CMOs		3,853		33		---			3,886
Tax-exempt state and municipal bonds		4,292		116		---			4,408
Taxable state and municipal bonds		16,531		239		(54	)		16,716
Corporate bonds		1,081		1		(1	)		1,081
Other equity securities		1,000		42		---			1,042
	$	54,165	$	636	$	(55	)	$	54,746
Held to Maturity:
State and municipal bonds	$	300	$	---	$	---		$	300

Contractual maturities of debt securities

Contractual maturities of debt securities at September 30, 2012 were as follows (dollars in thousands):

	Held–to-Maturity Securities						Available-for-Sale Securities
	Amortized			Fair			Amortized			Fair
	Cost			Value			Cost			Value

Due in one year or less		$	4,000		$	4,000		$	1,400		$	1,400
Due from one to five years			---			---			39,645			40,520
Due from five to ten years			---			---			38,114			38,551
Due after ten years			300			300			33,735			34,082

		$	4,300		$	4,300		$	112,894		$	114,553

Securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

Securities with unrealized losses at September 30, 2012 and December 31, 2011, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (dollars in thousands):

	Less than 12 Months					12 Months or More				Total
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
September 30, 2012	Value		Loss			Value		Loss		Value		Loss

U.S. Treasury and federal agency securities	$	---	$	---		$	---	$	---	$	---	$	---


U.S. Agency MBS and CMOs		---		---			---		---		---		---
Tax-exempt state and municipal bonds		2,954		(23	)		---		---		2,954		(23	)


Taxable state and municipal bonds		2,109		(8	)		---		---		2,109		(8	)
Corporate bonds and other debt securities		---		---			---		---		---		---
Other equity securities		---		---			---		---		---		---

Total temporarily impaired	$	5,063	$	(31	)	$	---	$	---	$	5,063	$	(31	)

	Less than 12 Months					12 Months or More				Total
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
December 31, 2011	Value		Loss			Value		Loss		Value		Loss

U.S. Treasury and federal agency securities	$	---	$	---		$	---	$	---	$	---	$	---


U.S. Agency MBS and CMOs		---		---			---		---		---		---
Tax-exempt state and municipal bonds		---		---			---		---		---		---


Taxable state and municipal bonds		6,196		(54	)		---		---		6,196		(54	)
Corporate bonds		539		(1	)						539		(1	)
Other equity securities		---		---			---		---		---		---

Total temporarily impaired	$	6,735	$	(55	)	$	---	$	---	$	6,735	$	(55	)