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, 2014

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, 2014 and 2013 are as follows (dollars in thousands, except per share data):

	Three Months		Three Months		Six Months		Six Months
	Ended		Ended		Ended		Ended
	June 30,		June 30,		June 30,		June 30,
	2014		2013		2014		2013
Net income	$	2,755	$	2,603	$	5,393	$	5,077
Dividends declared on preferred shares		---		---		---		---
Net income available to common shares	$	2,755	$	2,603	$	5,393	$	5,077

Weighted average shares outstanding, including participating stock awards - Basic		33,788,431		27,260,748		33,789,481		27,185,505

Dilutive potential common shares:
Stock options		---		---		---		---
Conversion of preferred stock		---		---		---		---
Stock warrants		---		---		---		---
Weighted average shares outstanding - Diluted		33,788,431		27,260,748		33,789,481		27,185,505

Basic earnings per common share	$	0.08	$	0.10	$	0.16	$	0.19
Diluted earnings per common share	$	0.08	$	0.10	$	0.16	$	0.19

Stock options for 355,328 shares of common stock for both the three and six month periods ended June 30, 2014 were not considered in computing diluted earnings per share because they were antidilutive. Stock options for 445,392 shares of common stock for both the three and six month periods ended June 30, 2013 were not considered in computing diluted earnings per share because they were antidilutive. Potential common shares associated with convertible preferred stock (for the 2013 periods) and stock warrants were excluded from dilutive potential common shares as they were antidilutive.

- Definition

The entire disclosure for earnings per share.

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