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, 2013

DEPOSITS [Abstract]

DEPOSITS

NOTE 7 – DEPOSITS

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

	2013		2012
Noninterest-bearing demand	$	344,550	$	339,520
Interest bearing demand		287,417		278,765
Savings and money market accounts		469,542		476,803
Certificates of deposit		148,225		191,173
	$	1,249,734	$	1,286,261

The following table depicts the maturity distribution of certificates of deposit at December 31, 2013 (dollars in thousands):

2014	$	84,591
2015		44,430
2016		11,568
2017		5,428
2018		2,208
Thereafter		---
	$	148,225

Approximately $56.7 million and $69.2 million in certificates of deposit were in denominations of $100,000 or more at December 31, 2013 and 2012, 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.

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