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

9 Months Ended

Sep. 30, 2015

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 nine month periods ended September 30, 2015 and 2014 are as follows (dollars in thousands, except per share data):

	Three Months Ended September 30, 2015		Three Months Ended September 30, 2014		Nine Months Ended September 30, 2015		Nine Months Ended September 30, 2014
Net income available to common shares	$	3,201	$	2,762	$	9,256	$	8,155

Weighted average shares outstanding, including participating stock awards - Basic		33,866,789		33,795,384		33,866,789		33,791,470

Dilutive potential common shares:
Stock options		---		---		---		---
Stock warrants		---		---		---		---
Weighted average shares outstanding - Diluted		33,866,789		33,795,384		33,866,789		33,791,470

Basic earnings per common share	$	0.09	$	0.08	$	0.27	$	0.24
Diluted earnings per common share	$	0.09	$	0.08	$	0.27	$	0.24

Stock options for 200,483 shares of common stock for both the three and nine month periods ended September 30, 2015 were not considered in computing diluted earnings per share because they were antidilutive. Stock options for 351,195 shares of common stock for both the three and nine month periods ended September 30, 2014 were not considered in computing diluted earnings per share because they were antidilutive.