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

Annual report pursuant to Section 13 and 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Note 19 - Condensed Financial Statements (Parent Company Only) (Tables)

v3.24.0.1

Note 19 - Condensed Financial Statements (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Condensed Balance Sheet [Table Text Block]

	2023		2022
ASSETS
Cash and cash equivalents	$	8,827	$	8,092
Investment in Bank subsidiary		278,013		238,697
Investment in other subsidiaries		—		—
Other assets		245		249
Total assets	$	287,085	$	247,038

LIABILITIES AND SHAREHOLDERS' EQUITY
Long-term debt		—		—
Other liabilities		—		—
Total liabilities	$	—	$	—
Total shareholders' equity		287,085		247,038
Total liabilities and shareholders' equity	$	287,085	$	247,038

Condensed Income Statement [Table Text Block]

	2023			2022
INCOME
Dividends from subsidiaries	$	12,735		$	11,913
Other		—			—
Total income		12,735			11,913
EXPENSE
Interest expense		—			—
Other expense		887			801
Total expense		887			801
Income before income tax and equity in undistributed earnings of subsidiaries		11,848			11,112
Equity in undistributed earnings of subsidiaries		31,189			23,445
Income before income tax		43,037			34,557
Income tax benefit		(187	)		(174	)
Net income	$	43,224		$	34,731
Comprehensive income	$	51,870		$	3,452

Condensed Cash Flow Statement [Table Text Block]

	2023			2022
Cash flows from operating activities
Net income	$	43,224		$	34,731
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed earnings of subsidiaries		(31,189	)		(23,445	)
Stock compensation expense		124			114
Change in other assets		4			—
Change in other liabilities		—			(17	)
Net cash from operating activities		12,163			11,383
Cash flows from investing activities
Investment in subsidiaries		—			—
Net cash from investing activities		—			—
Cash flows from financing activities
Repayment of other borrowings		—			—
Cash dividends paid		(11,285	)		(10,915	)
Repurchases of shares		(143	)		(207	)
Net cash from financing activities		(11,428	)		(11,122	)
Net change in cash and cash equivalents		735			261
Cash and cash equivalents at beginning of year		8,092			7,831
Cash and cash equivalents at end of year	$	8,827		$	8,092

- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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