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

Annual report pursuant to Section 13 and 15(d)

DEPOSITS

DEPOSITS

12 Months Ended

Dec. 31, 2012

DEPOSITS [Abstract]

DEPOSITS

NOTE 7 - DEPOSITS

Deposits at year-end were as follows (dollars in thousands):

	2012		2011

Noninterest bearing demand	$	339,520	$	324,253
Interest bearing demand		278,765		204,402
Savings and money market accounts		476,803		381,498
Certificates of deposit		191,173		305,136
	$	1,286,261	$	1,215,289

The following table depicts the maturity distribution of certificates of deposit at December 31, 2012 (dollars in thousands):

2013	$	109,776
2014		37,843
2015		27,487
2016		11,051
2017		5,016
After		---
	$	191,173

Approximately $69,227,000 and $106,304,000 in certificates of deposit were in denominations of $100,000 or more at December 31, 2012 and 2011, respectively.

- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References + Details