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

Annual report pursuant to Section 13 and 15(d)

PREMISES AND EQUIPMENT - NET

PREMISES AND EQUIPMENT - NET

12 Months Ended

Dec. 31, 2014

PREMISES AND EQUIPMENT - NET [Abstract]

PREMISES AND EQUIPMENT - NET

NOTE 6 – PREMISES AND EQUIPMENT – NET

Year-end premises and equipment were as follows (dollars in thousands):

	2014			2013
Land	$	18,227		$	18,236
Building		43,426			42,530
Leasehold improvements		779			779
Furniture and equipment		18,368			20,344
Construction in progress		413			1,065
		81,213			82,954
Less accumulated depreciation		(28,319	)		(29,313	)
	$	52,894		$	53,641

Depreciation expense was $2,513,000, $2,342,000 and $2,400,000 for 2014, 2013 and 2012, respectively.

The Bank leases certain office and branch premises and equipment under operating lease agreements. Total rental expense for all operating leases aggregated to $436,000, $354,000 and $460,000 for 2014, 2013 and 2012, respectively. Future minimum rental expense under noncancelable operating leases as of December 31, 2014 is as follows (dollars in thousands):

2015	$	240
2016		230
2017		230
2018		230
2019		230
Thereafter		127
	$	1,287

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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