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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 31, 2015
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Mar. 31, 2014
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| Cash flows from operating activities | ||
| Net income | $ 2,840us-gaap_NetIncomeLoss | $ 2,639us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| Depreciation and amortization | 684us-gaap_DepreciationAmortizationAndAccretionNet | 774us-gaap_DepreciationAmortizationAndAccretionNet |
| Stock compensation expense | 121us-gaap_ShareBasedCompensation | 69us-gaap_ShareBasedCompensation |
| Provision for loan losses | (1,000)us-gaap_ProvisionForLoanAndLeaseLosses | (1,000)us-gaap_ProvisionForLoanAndLeaseLosses |
| Origination of loans for sale | (23,438)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale | (14,114)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale |
| Proceeds from sales of loans originated for sale | 24,140us-gaap_ProceedsFromSaleOfLoansHeldForSale | 16,093us-gaap_ProceedsFromSaleOfLoansHeldForSale |
| Net gains on mortgage loans | (723)us-gaap_GainLossOnSaleOfMortgageLoans | (258)us-gaap_GainLossOnSaleOfMortgageLoans |
| Gain on sales of securities | (83)us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet | (10)us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet |
| Write-down of other real estate | 518us-gaap_ImpairmentOfRealEstate | 298us-gaap_ImpairmentOfRealEstate |
| Net gain on sales of other real estate | (67)mcbc_GainsLossesOnSalesOfOtherRealEstateOwned | (484)mcbc_GainsLossesOnSalesOfOtherRealEstateOwned |
| Change in net deferred tax asset | 592us-gaap_IncreaseDecreaseInDeferredIncomeTaxes | 1,177us-gaap_IncreaseDecreaseInDeferredIncomeTaxes |
| Change in accrued interest receivable and other assets | (1,826)mcbc_IncreaseDecreaseInAccruedInterestReceivableAndOtherAssets | 217mcbc_IncreaseDecreaseInAccruedInterestReceivableAndOtherAssets |
| Earnings in bank-owned life insurance | (162)us-gaap_BankOwnedLifeInsuranceIncome | (154)us-gaap_BankOwnedLifeInsuranceIncome |
| Change in accrued expenses and other liabilities | (869)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities | 1,588us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities |
| Net cash from operating activities | 727us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 6,835us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Cash flows from investing activities | ||
| Loan originations and payments, net | (16,809)us-gaap_ProceedsFromLoanAndLeaseOriginationsAndPrincipalCollections1 | 12,297us-gaap_ProceedsFromLoanAndLeaseOriginationsAndPrincipalCollections1 |
| Change in interest-bearing deposits in other financial institutions | 0us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks | (7,500)us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks |
| Purchases of securities available for sale | (10,590)us-gaap_PaymentsToAcquireAvailableForSaleSecurities | (13,455)us-gaap_PaymentsToAcquireAvailableForSaleSecurities |
| Purchases of securities held to maturity | (10,326)us-gaap_PaymentsToAcquireHeldToMaturitySecurities | 0us-gaap_PaymentsToAcquireHeldToMaturitySecurities |
| Proceeds from: | ||
| Maturities and calls of securities available for sale | 5,195us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities | 2,906us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities |
| Sales of securities available for sale | 12,063us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities | 561us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities |
| Principal paydowns on securities | 919mcbc_PrincipalPaydownsOnSecurities | 790mcbc_PrincipalPaydownsOnSecurities |
| Sales of other real estate | 1,452us-gaap_ProceedsFromSaleOfForeclosedAssets | 3,501us-gaap_ProceedsFromSaleOfForeclosedAssets |
| Additions to premises and equipment | (250)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (592)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Net cash from investing activities | (18,346)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (1,492)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| Cash flows from financing activities | ||
| Change in deposits | 14,191us-gaap_IncreaseDecreaseInDeposits | (32,956)us-gaap_IncreaseDecreaseInDeposits |
| Repayments of other borrowed funds | (1,271)us-gaap_RepaymentsOfFederalHomeLoanBankBorrowings | (1,217)us-gaap_RepaymentsOfFederalHomeLoanBankBorrowings |
| Proceeds from other borrowed funds | 10,000us-gaap_ProceedsFromFederalHomeLoanBankBorrowings | 0us-gaap_ProceedsFromFederalHomeLoanBankBorrowings |
| Cash dividends paid | (677)us-gaap_PaymentsOfDividends | (677)us-gaap_PaymentsOfDividends |
| Common stock issuance costs | 0us-gaap_PaymentsOfStockIssuanceCosts | (102)us-gaap_PaymentsOfStockIssuanceCosts |
| Net cash from financing activities | 22,243us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | (34,952)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| Net change in cash and cash equivalents | 4,624us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (29,609)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents at beginning of period | 129,455us-gaap_CashCashEquivalentsAndFederalFundsSold | 156,892us-gaap_CashCashEquivalentsAndFederalFundsSold |
| Cash and cash equivalents at end of period | 134,079us-gaap_CashCashEquivalentsAndFederalFundsSold | 127,283us-gaap_CashCashEquivalentsAndFederalFundsSold |
| Supplemental cash flow information | ||
| Interest paid | 1,347us-gaap_InterestPaid | 1,489us-gaap_InterestPaid |
| Income taxes paid | 1,575us-gaap_IncomeTaxesPaid | 0us-gaap_IncomeTaxesPaid |
| Supplemental noncash disclosures: | ||
| Transfers from loans to other real estate | 699us-gaap_TransferToOtherRealEstate | 554us-gaap_TransferToOtherRealEstate |
| Securities settlement | $ 1,250mcbc_SecuritiesPurchasedNotSettled | $ 3,413mcbc_SecuritiesPurchasedNotSettled |
| X | ||||||||||
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- Definition
The net gain (loss) resulting from sales and other disposals of other real estate owned and increases (decreases) in the valuation allowance for foreclosed real estate. No definition available.
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- Definition
The net change during the reporting period in the amount due from borrowers for interest payments and other operating assets not otherwise defined in the taxonomy. No definition available.
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- Definition
The cash inflow associated with the principal paydowns on securities. No definition available.
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- Details
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- Definition
The fair value of securities purchased not yet settled in noncash investing and financing activities. No definition available.
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- Details
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| X | ||||||||||
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- Definition
This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Earnings on or other increases in the value of the cash surrender value of bank owned life insurance policies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of cash and cash equivalents plus Federal Funds Sold. Cash and cash equivalents consist of short term, highly liquid investments that are readily convertible to known amounts of cash and are so near their maturity that they present negligible risk of changes in value due to changes in interest rates -- usually with an original maturity less than 90 days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The gains (losses) included in earnings that represent the difference between the sale price and the carrying value of loans made to finance real estate acquisitions. This element refers to the gain (loss) and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows. No definition available.
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow for the increase (decrease) in the beginning and end of period deposits balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The aggregate amount of cash outflow for loans purchased and created with the intention to resell them in the near future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash outflow through purchase of long-term held-to-maturity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a borrowing made from Federal Home Loan Bank. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash inflow related to a loan origination (the process when securing a mortgage for a piece of real property), lease origination, and principal collections. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow in Interest-bearing Deposits by banks in other financial institutions for relatively short periods of time including, for example, certificates of deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from the sale assets received in full or partial satisfaction of a receivable including real and personal property; equity interests in corporations, partnerships, and joint ventures; and beneficial interests in trusts. Foreclosed assets also include loans that are treated as if the underlying collateral had been foreclosed because the institution has taken possession of the collateral, even though legal foreclosure or repossession proceedings have not taken place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow resulting from the sale of loans classified as held-for-sale, including proceeds from loans sold through mortgage securitization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of expense related to estimated loss from loan and lease transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for the payment of loan drawn from Federal Home Loan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Value transferred from mortgage loans to real estate owned (REO) in noncash transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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