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, 2014

DEPOSITS [Abstract]

DEPOSITS

NOTE 7 – DEPOSITS

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

	2014		2013
Noninterest-bearing demand	$	404,143	$	344,550
Interest bearing demand		340,053		287,417
Savings and money market accounts		442,246		469,542
Certificates of deposit		119,883		148,225
	$	1,306,325	$	1,249,734

The following table depicts the maturity distribution of certificates of deposit at December 31, 2014 (dollars in thousands):

2015	$	85,486
2016		22,023
2017		7,016
2018		2,736
2019		2,622
Thereafter		---
	$	119,883

Approximately $50.1 million and $56.7 million in certificates of deposit were in denominations of $100,000 or more at December 31, 2014 and 2013, 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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