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

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

6 Months Ended

Jun. 30, 2020

EARNINGS PER COMMON SHARE [Abstract]

NOTE 8 - EARNINGS PER COMMON SHARE

A reconciliation of the numerators and denominators of basic and diluted earnings per common share for the three and six month periods ended June 30, 2020 and 2019 are as follows (dollars in thousands, except per share data):

	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Net income available to common shares	$	7,638	$	8,003	$	14,049	$	15,649
Weighted average shares outstanding, including participating stock awards - Basic		34,108,982		34,042,886		34,108,057		34,041,628
Dilutive potential common shares:
Stock options		—		—		—		—
Weighted average shares outstanding - Diluted		34,108,982		34,042,886		34,108,057		34,041,628
Basic earnings per common share	$	0.22	$	0.24	$	0.41	$	0.46
Diluted earnings per common share	$	0.22	$	0.24	$	0.41	$	0.46

There were no antidilutive shares of common stock in the three and six month periods ended June 30, 2020 and 2019.