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

Annual report pursuant to Section 13 and 15(d)

PREMISES AND EQUIPMENT - NET

PREMISES AND EQUIPMENT - NET

12 Months Ended

Dec. 31, 2015

PREMISES AND EQUIPMENT - NET [Abstract]

PREMISES AND EQUIPMENT - NET

NOTE 6 – PREMISES AND EQUIPMENT – NET

Year-end premises and equipment were as follows (dollars in thousands):

	2015			2014
Land	$	18,227		$	18,227
Building		43,449			43,426
Leasehold improvements		779			779
Furniture and equipment		19,353			18,368
Construction in progress		575			413
		82,383			81,213
Less accumulated depreciation		(30,927	)		(28,319	)
	$	51,456		$	52,894

Depreciation expense was $2,608,000, $2,513,000 and $2,342,000 for 2015, 2014 and 2013, respectively.

The Bank leases certain office and branch premises and equipment under operating lease agreements. Total rental expense for all operating leases aggregated to $417,000, $436,000 and $354,000 for 2015, 2014 and 2013, respectively. Future minimum rental expense under noncancelable operating leases as of December 31, 2015 is as follows (dollars in thousands):

2016	$	233
2017		230
2018		230
2019		230
2020		127
Thereafter		---
	$	1,050