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

Annual report pursuant to Section 13 and 15(d)

CONDENSED FINANCIAL STATEMENTS (PARENT COMPANY ONLY) (Details)

CONDENSED FINANCIAL STATEMENTS (PARENT COMPANY ONLY) (Details) (USD $)	0 Months Ended	3 Months Ended								12 Months Ended
	Jun. 30, 2011	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2008	Dec. 31, 2009	Dec. 31, 2011
ASSETS
Cash and cash equivalents		$ 129,455,000				$ 156,892,000				$ 129,455,000	$ 156,892,000	$ 226,358,000
Other assets		2,831,000us-gaap_OtherAssets				4,491,000us-gaap_OtherAssets				2,831,000us-gaap_OtherAssets	4,491,000us-gaap_OtherAssets
Total assets		1,583,846,000us-gaap_Assets				1,517,405,000us-gaap_Assets				1,583,846,000us-gaap_Assets	1,517,405,000us-gaap_Assets
LIABILITIES AND SHAREHOLDERS' EQUITY
Long-term debt		41,238,000us-gaap_LongTermDebt				41,238,000us-gaap_LongTermDebt				41,238,000us-gaap_LongTermDebt	41,238,000us-gaap_LongTermDebt
Total liabilities		1,441,327,000us-gaap_Liabilities				1,384,883,000us-gaap_Liabilities				1,441,327,000us-gaap_Liabilities	1,384,883,000us-gaap_Liabilities
Total shareholders' equity		142,519,000us-gaap_StockholdersEquity				132,522,000us-gaap_StockholdersEquity				142,519,000us-gaap_StockholdersEquity	132,522,000us-gaap_StockholdersEquity	130,507,000us-gaap_StockholdersEquity			94,426,000us-gaap_StockholdersEquity
Total liabilities and shareholders' equity		1,583,846,000				1,517,405,000				1,583,846,000	1,517,405,000
Expense
Interest expense										5,596,000us-gaap_InterestExpense	7,337,000us-gaap_InterestExpense	9,814,000us-gaap_InterestExpense
Income tax benefit										4,573,000us-gaap_IncomeTaxExpenseBenefit	4,270,000us-gaap_IncomeTaxExpenseBenefit	(18,583,000)us-gaap_IncomeTaxExpenseBenefit
Net income		2,317,000us-gaap_NetIncomeLoss	2,762,000us-gaap_NetIncomeLoss	2,755,000us-gaap_NetIncomeLoss	2,639,000us-gaap_NetIncomeLoss	2,234,000us-gaap_NetIncomeLoss	2,238,000us-gaap_NetIncomeLoss	2,603,000us-gaap_NetIncomeLoss	2,473,000us-gaap_NetIncomeLoss	10,473,000us-gaap_NetIncomeLoss	9,549,000us-gaap_NetIncomeLoss	35,490,000us-gaap_NetIncomeLoss
Net income (loss) available to common shares										10,473,000	(8,026,000)	35,490,000
Comprehensive income										12,489,000us-gaap_ComprehensiveIncomeNetOfTax	6,634,000us-gaap_ComprehensiveIncomeNetOfTax	36,072,000us-gaap_ComprehensiveIncomeNetOfTax
Cash flows from operating activities
Net income		2,317,000us-gaap_NetIncomeLoss	2,762,000us-gaap_NetIncomeLoss	2,755,000us-gaap_NetIncomeLoss	2,639,000us-gaap_NetIncomeLoss	2,234,000us-gaap_NetIncomeLoss	2,238,000us-gaap_NetIncomeLoss	2,603,000us-gaap_NetIncomeLoss	2,473,000us-gaap_NetIncomeLoss	10,473,000us-gaap_NetIncomeLoss	9,549,000us-gaap_NetIncomeLoss	35,490,000us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash from operating activities:
Stock compensation expense										338,000us-gaap_ShareBasedCompensation	160,000us-gaap_ShareBasedCompensation	9,000us-gaap_ShareBasedCompensation
Net cash from operating activities										16,618,000	16,312,000	13,495,000
Cash flows from investing activities
Net cash from investing activities										(95,806,000)	(40,991,000)	(44,048,000)
Cash flows from financing activities
Proceeds from issuance of common stock	20,300,000									4,000	0	0
Cash dividends paid										(2,689,000)us-gaap_PaymentsOfDividends	0us-gaap_PaymentsOfDividends	0us-gaap_PaymentsOfDividends
Common stock issuance costs										(102,000)us-gaap_PaymentsOfStockIssuanceCosts	0us-gaap_PaymentsOfStockIssuanceCosts	0us-gaap_PaymentsOfStockIssuanceCosts
Repurchases of shares										(106,000)	(45,000)	0
Cash paid in preferred stock exchange										0mcbc_CashPaidInPreferredStockExchange	(4,734,000)mcbc_CashPaidInPreferredStockExchange	0mcbc_CashPaidInPreferredStockExchange
Net cash from financing activities										51,751,000	(44,787,000)	13,869,000
Net change in cash and cash equivalents										(27,437,000)	(69,466,000)	(16,684,000)
Cash and cash equivalents at beginning of period					156,892,000				226,358,000	156,892,000	226,358,000	243,042,000
Cash and cash equivalents at end of period		129,455,000				156,892,000				129,455,000	156,892,000	226,358,000
Supplemental noncash disclosures:
Exchange of 31,290 shares of Preferred Series A to 5,973,519 shares of common stock										0	30,604,000	0
Exchange of 2,300 shares of Preferred Series B to 457,159 shares of common stock										0	2,260,000	0
Series A [Member]
Cash flows from financing activities
Common stock issuance costs													(686,000)
Supplemental noncash disclosures:
Number of shares converted in conversion of Preferred Stock to Common Stock (in shares)										5,973,519
Series B [Member]
Cash flows from financing activities
Common stock issuance costs														(40,000)
Supplemental noncash disclosures:
Number of shares exchanged in exchange of Preferred Stock to Common Stock (in shares)										457,519
Preferred Stock [Member] \| Series A [Member]
LIABILITIES AND SHAREHOLDERS' EQUITY
Total shareholders' equity		0				0				0	0	30,604,000			30,604,000
Preferred Stock [Member] \| Series B [Member]
LIABILITIES AND SHAREHOLDERS' EQUITY
Total shareholders' equity		0				0				0	0	2,560,000			2,560,000
Common Stock [Member]
LIABILITIES AND SHAREHOLDERS' EQUITY
Total shareholders' equity		216,460,000				216,263,000				216,460,000	216,263,000	187,718,000			187,709,000
Cash flows from financing activities
Common stock issuance costs										(102,000)
Conversion of Preferred Stock Series B to Common Stock [Member] \| Preferred Stock [Member] \| Series B [Member]
Supplemental noncash disclosures:
Number of shares converted in conversion of Preferred Stock to Common Stock (in shares)											300
Conversion of Preferred Stock Series B to Common Stock [Member] \| Common Stock [Member]
Supplemental noncash disclosures:
Number of shares issued in conversion of Preferred Stock to Common Stock (in shares)											50,000
Exchange of Preferred Stock Series A to Common Stock [Member] \| Preferred Stock [Member] \| Series A [Member]
Supplemental noncash disclosures:
Number of shares exchanged in exchange of Preferred Stock to Common Stock (in shares)											31,290
Exchange of Preferred Stock Series A to Common Stock [Member] \| Common Stock [Member]
Supplemental noncash disclosures:
Number of shares issued in exchange of Preferred Stock to Common Stock (in shares)											5,973,519
Exchange of Preferred Stock Series B to Common Stock [Member] \| Preferred Stock [Member] \| Series B [Member]
Supplemental noncash disclosures:
Number of shares exchanged in exchange of Preferred Stock to Common Stock (in shares)											2,300
Exchange of Preferred Stock Series B to Common Stock [Member] \| Common Stock [Member]
Supplemental noncash disclosures:
Number of shares issued in exchange of Preferred Stock to Common Stock (in shares)											457,159
Parent Company [Member]
ASSETS
Cash and cash equivalents		2,544,000				1,910,000				2,544,000	1,910,000	9,787,000
Investments in Bank subsidiary		177,312,000				167,292,000				177,312,000	167,292,000
Investment in other subsidiaries		1,491,000				1,504,000				1,491,000	1,504,000
Other assets		2,599,000				3,272,000				2,599,000	3,272,000
Total assets		183,946,000				173,978,000				183,946,000	173,978,000
LIABILITIES AND SHAREHOLDERS' EQUITY
Long-term debt		41,238,000				41,238,000				41,238,000	41,238,000
Other liabilities		189,000				218,000				189,000	218,000
Total liabilities		41,427,000				41,456,000				41,427,000	41,456,000
Total shareholders' equity		142,519,000				132,522,000				142,519,000	132,522,000
Total liabilities and shareholders' equity		183,946,000				173,978,000				183,946,000	173,978,000
Income
Dividends from subsidiaries										4,139,000	5,179,000	0
Other										0	0	0
Total income										4,139,000	5,179,000	0
Expense
Interest expense										1,311,000	1,563,000	1,719,000
Other expense										611,000	575,000	555,000
Total expense										1,922,000	2,138,000	2,274,000
Income (loss) before income tax and equity in undistributed earnings of subsidiaries										2,217,000	3,041,000	(2,274,000)
Equity in undistributed earnings of subsidiaries										7,592,000	5,770,000	35,338,000
Income before income tax										9,809,000	8,811,000	33,064,000
Income tax benefit										(664,000)	(738,000)	(2,426,000)
Net income										10,473,000	9,549,000	35,490,000
Net income (loss) available to common shares										10,473,000	(8,026,000)	35,490,000
Comprehensive income										12,489,000	6,634,000	36,072,000
Cash flows from operating activities
Net income										10,473,000	9,549,000	35,490,000
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed earnings of subsidiaries										(7,592,000)	(5,770,000)	(35,338,000)
Stock compensation expense										2,000	0	0
Change in other assets										673,000	(740,000)	(2,424,000)
Change in other liabilities										(29,000)	(4,487,000)	1,524,000
Net cash from operating activities										3,527,000	(1,448,000)	(748,000)
Cash flows from investing activities
Investment in subsidiaries										0	0	0
Net cash from investing activities										0	0	0
Cash flows from financing activities
Proceeds from issuance of common stock										4,000	0	0
Cash dividends paid										(2,689,000)	0	0
Common stock issuance costs										(102,000)	0	0
Redemption of subordinated debt										0	(1,650,000)	0
Repurchases of shares										(106,000)	(45,000)	0
Cash paid in preferred stock exchange										0	(4,734,000)	0
Net cash from financing activities										(2,893,000)	(6,429,000)	0
Net change in cash and cash equivalents										634,000	(7,877,000)	(748,000)
Cash and cash equivalents at beginning of period					1,910,000				9,787,000	1,910,000	9,787,000	10,535,000
Cash and cash equivalents at end of period		2,544,000				1,910,000				2,544,000	1,910,000	9,787,000
Supplemental noncash disclosures:
Conversion of 300 shares of Preferred Series B to 50,000 shares of common stock										0	300,000	0
Exchange of 31,290 shares of Preferred Series A to 5,973,519 shares of common stock										0	30,604,000	0
Exchange of 2,300 shares of Preferred Series B to 457,159 shares of common stock										$ 0	$ 2,260,000	$ 0
Parent Company [Member] \| Conversion of Preferred Stock Series B to Common Stock [Member] \| Preferred Stock [Member] \| Series B [Member]
Supplemental noncash disclosures:
Number of shares converted in conversion of Preferred Stock to Common Stock (in shares)											300
Parent Company [Member] \| Exchange of Preferred Stock Series A to Common Stock [Member] \| Preferred Stock [Member] \| Series A [Member]
Supplemental noncash disclosures:
Number of shares exchanged in exchange of Preferred Stock to Common Stock (in shares)											31,290
Parent Company [Member] \| Exchange of Preferred Stock Series A to Common Stock [Member] \| Common Stock [Member]
Supplemental noncash disclosures:
Number of shares issued in exchange of Preferred Stock to Common Stock (in shares)											5,973,519
Parent Company [Member] \| Exchange of Preferred Stock Series B to Common Stock [Member] \| Preferred Stock [Member] \| Series B [Member]
Supplemental noncash disclosures:
Number of shares exchanged in exchange of Preferred Stock to Common Stock (in shares)											2,300
Parent Company [Member] \| Exchange of Preferred Stock Series B to Common Stock [Member] \| Common Stock [Member]
Supplemental noncash disclosures:
Number of shares issued in conversion of Preferred Stock to Common Stock (in shares)											50,000
Number of shares issued in exchange of Preferred Stock to Common Stock (in shares)											457,159