Macatawa Bank Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Loans and Allowance for Credit Losses (Tables)

Note 3 - Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	March 31,			December 31,
	2024			2023
Commercial and industrial	$	516,400		$	506,974

Commercial real estate:
Residential developed		4,977			5,809
Unsecured to residential developers		—			800
Vacant and unimproved		38,895			39,534
Commercial development		78			84
Residential improved		107,860			123,875
Commercial improved		261,256			260,188
Manufacturing and industrial		159,703			154,809
Total commercial real estate		572,769			585,099
Consumer:
Residential mortgage		195,923			189,818
Unsecured		89			129
Home equity		53,751			53,039
Other secured		3,276			3,327
Total consumer		253,039			246,313
Total loans		1,342,208			1,338,386
Allowance for credit losses		(17,440	)		(17,442	)
	$	1,324,768		$	1,320,944

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	Commercial
	and			Commercial
Three months ended March 31, 2024	Industrial			Real Estate			Consumer			Unallocated		Total
Beginning balance	$	6,871		$	7,164		$	3,375		$	32	$	17,442
Charge-offs		—			—			(32	)		—		(32	)
Recoveries		10			1			19			—		30
Provision for credit losses		(123	)		(189	)		224			88		—
Ending Balance	$	6,758		$	6,976		$	3,586		$	120	$	17,440

	Commercial
	and		Commercial
Three months ended March 31, 2023	Industrial		Real Estate			Consumer			Unallocated		Total
Beginning balance	$	5,596	$	7,180		$	2,458		$	51	$	15,285
Impact of adoption of ASU 2016-03		1,299		(212	)		389			—		1,476
Charge-offs		—		—			(21	)		—		(21	)
Recoveries		9		3			42			—		54
Provision for credit losses		220		(201	)		(50	)		31		—
Ending Balance	$	7,124	$	6,770		$	2,818		$	82	$	16,794

Gross Charge-offs by Portfolio Segment and Origination Year [Table Text Block]

	*Term Loans By Origination Year*
													*Revolving*
March 31, 2024	*2024*		*2023*		*2022*		*2021*		*2020*		*Prior*		*Loans*		*Total*


Commercial and industrial	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial development		—		—		—		—		—		—		—		—
Commercial improved		—		—		—		—		—		—		—		—
Manufacturing and industrial		—		—		—		—		—		—		—		—
Residential development		—		—		—		—		—		—		—		—
Residential improved		—		—		—		—		—		—		—		—
Vacant and unimproved		—		—		—		—		—		—		—		—
Total commercial		—		—		—		—		—		—		—		—

Residential mortgage		—		—		—		—		—		—		—		—
Consumer unsecured		—		—		—		—		—		—		—		—
Home equity		—		—		—		—		—		—		—		—
Other		—		—		—		—		—		—		32		32
Total consumer		—		—		—		—		—		—		32		32

Total loans	$	—	$	—	$	—	$	—	$	—	$	—	$	32	$	32

	Term Loans By Origination Year
													Revolving
March 31, 2023	2023		2022		2021		2020		2019		Prior		Loans		Total


Commercial and industrial	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial development		—		—		—		—		—		—		—		—
Commercial improved		—		—		—		—		—		—		—		—
Manufacturing and industrial		—		—		—		—		—		—		—		—
Residential development		—		—		—		—		—		—		—		—
Residential improved		—		—		—		—		—		—		—		—
Vacant and unimproved		—		—		—		—		—		—		—		—
Total commercial		—		—		—		—		—		—		—		—

Residential mortgage		—		—		—		—		—		—		—		—
Consumer unsecured		—		—		—		—		—		—		—		—
Home equity		—		—		—		—		—		—		—		—
Other		—		—		—		—		—		—		21		21
Total consumer		—		—		—		—		—		—		21		21

Total loans	$	—	$	—	$	—	$	—	$	—	$	—	$	21	$	21

Schedule of Collateral Dependent Loans [Table Text Block]

	Collateral Type
					Allowance
March 31, 2024	Real Estate		Other		Allocated

Commercial and industrial	$	—	$	—	$	—
Commercial real estate:
Residential developed		—		—		—
Unsecured to residential developers		—		—		—
Vacant and unimproved		—		—		—
Commercial development		—		—		—
Residential improved		25		—		—
Commercial improved		289		—		14
Manufacturing and industrial		1,126		—		—
		1,440		—		14
Consumer
Residential mortgage		—		—		—
Unsecured		—		—		—
Home equity		—		—		—
Other secured		—		—		—
Consumer		—		—		—
Total	$	1,440	$	—	$	14

	Collateral Type
					Allowance
December 31, 2023	Real Estate		Other		Allocated

Commercial and industrial	$	—	$	—	$	—
Commercial real estate:
Residential developed		—		—		—
Unsecured to residential developers		—		—		—
Vacant and unimproved		—		—		—
Commercial development		—		—		—
Residential improved		26		—		—
Commercial improved		292		—		17
Manufacturing and industrial		1,136		—		—
		1,454		—		17
Consumer
Residential mortgage		—		—		—
Unsecured		—		—		—
Home equity		—		—		—
Other secured		—		—		—
Consumer		—		—		—
Total	$	1,454	$	—	$	17

Financing Receivable, Nonaccrual [Table Text Block]

							Over 90		Total
	Nonaccrual with		Nonaccrual with				days		Nonperforming
March 31, 2024	No Allowance		Allowance		Total Nonaccrual		Accruing		Loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
Residential developed		—		—		—		—		—
Unsecured to residential developers		—		—		—		—		—
Vacant and unimproved		—		—		—		—		—
Commercial development		—		—		—		—		—
Residential Improved		—		—		—		—		—
Commercial improved		—		—		—		—		—
Manufacturing and industrial		—		—		—		—		—
		—		—		—		—		—
Consumer:
Residential mortgage		—		1		1		—		1
Unsecured		—		—		—		—		—
Home equity		—		—		—		—		—
Other secured		—		—		—		—		—
		—		1		1		—		1
Total	$	—	$	1	$	1	$	—	$	1

							Over 90		Total
	Nonaccrual with		Nonaccrual with				days		Nonperforming
December 31, 2023	No Allowance		Allowance		Total Nonaccrual		Accruing		Loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—

Commercial real estate:
Residential developed		—		—		—		—		—
Unsecured to residential developers		—		—		—		—		—
Vacant and unimproved		—		—		—		—		—
Commercial development		—		—		—		—		—
Residential improved		—		—		—		—		—
Commercial improved		—		—		—		—		—
Manufacturing and industrial		—		—		—		—		—
		—		—		—		—		—
Consumer:
Residential mortgage		—		1		1		—		1
Unsecured		—		—		—		—		—
Home equity		—		—		—		—		—
Other secured		—		—		—		—		—
		—		1		1		—		1
Total	$	—	$	1	$	1	$	—	$	1

Financing Receivable, Past Due [Table Text Block]

	30-90		Greater Than		Total
March 31, 2024	Days		90 Days		Past Due		Current		Total
Commercial and industrial	$	—	$	—	$	—	$	516,400	$	516,400
Commercial real estate:
Residential developed		—		—		—		4,977		4,977
Unsecured to residential developers		—		—		—		—		—
Vacant and unimproved		—		—		—		38,895		38,895
Commercial development		—		—		—		78		78
Residential improved		—		—		—		107,860		107,860
Commercial improved		—		—		—		261,256		261,256
Manufacturing and industrial		—		—		—		159,703		159,703
		—		—		—		572,769		572,769
Consumer:
Residential mortgage		310		—		310		195,613		195,923
Unsecured		—		—		—		89		89
Home equity		30		—		30		53,721		53,751
Other secured		—		—		—		3,276		3,276
		340		—		340		252,699		253,039
Total	$	340	$	—	$	340	$	1,341,868	$	1,342,208

	30-90		Greater Than		Total
December 31, 2023	Days		90 Days		Past Due		Current		Total
Commercial and industrial	$	—	$	—	$	—	$	506,974	$	506,974
Commercial real estate:
Residential developed		—		—		—		5,809		5,809
Unsecured to residential developers		—		—		—		800		800
Vacant and unimproved		—		—		—		39,534		39,534
Commercial development		—		—		—		84		84
Residential improved		—		—		—		123,875		123,875
Commercial improved		—		—		—		260,188		260,188
Manufacturing and industrial		—		—		—		154,809		154,809
		—		—		—		585,099		585,099
Consumer:
Residential mortgage		44		—		44		189,774		189,818
Unsecured		—		—		—		129		129
Home equity		—		—		—		53,039		53,039
Other secured		—		—		—		3,327		3,327
		44		—		44		246,269		246,313
Total	$	44	$	—	$	44	$	1,338,342	$	1,338,386

Financing Receivable, Modified [Table Text Block]

	March 31, 2024
			Outstanding		Percentage to
	Number of		Recorded		Total
	Loans		Balance		Loans
Commercial and industrial		2	$	232		0.04	%
Commercial real estate		3		478		0.08	%
Consumer		31		2,550		1.01	%
		36	$	3,260		0.24	%

	December 31, 2023
			Outstanding		Percentage to
	Number of		Recorded		Total
	Loans		Balance		Loans
Commercial and industrial		2	$	244		0.05	%
Commercial real estate		3		485		0.08	%
Consumer		31		2,584		1.05	%
		36	$	3,313		0.25	%

	March 31,		December 31,
	2024		2023
Accruing - nonaccrual at modification	$	—	$	—
Accruing - accruing at modification		3,260		3,313
Accruing - upgraded to accruing after six consecutive payments		—		—
	$	3,260	$	3,313

Financing Receivable Credit Quality Indicators [Table Text Block]

	*Term Loans Amortized Cost Basis By Origination Year and Risk Grades*
March 31, 2024	*2024*		*2023*		*2022*		*2021*		*2020*		*Prior*		*Revolving*		*Total*
Commercial
Commercial and industrial
Grades 1-3	$	14,068	$	38,897	$	40,494	$	9,235	$	5,778	$	45,398	$	68,809	$	222,679
Grade 4		14,526		83,078		46,939		20,807		10,148		47,312		62,804		285,614
Grade 5		—		—		1,200		37		253		1,473		5,133		8,096
Grade 6		—		—		—		—		—		11		—		11
Grade 7-8		—		—		—		—		—		—		—		—
	$	28,594	$	121,975	$	88,633	$	30,079	$	16,179	$	94,194	$	136,746	$	516,400
Residential development
Grades 1-3	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Grade 4		1,693		2,328		57		—		—		—		899		4,977
Grade 5		—		—		—		—		—		—		—		—
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	1,693	$	2,328	$	57	$	—	$	—	$	—	$	899	$	4,977
Unsecured to residential developers
Grades 1-3	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Grade 4		—		—		—		—		—		—		—		—
Grade 5		—		—		—		—		—		—		—		—
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Vacant and unimproved
Grades 1-3	$	—	$	1,111	$	6,768	$	9,492	$	6,531	$	57	$	230	$	24,189
Grade 4		151		4,274		1,309		690		7,636		—		646		14,706
Grade 5		—		—		—		—		—		—		—		—
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	151	$	5,385	$	8,077	$	10,182	$	14,167	$	57	$	876	$	38,895
Commercial development
Grades 1-3	$	—	$	—	$	78	$	—	$	—	$	—	$	—	$	78
Grade 4		—		—		—		—		—		—		—		—
Grade 5		—		—		—		—		—		—		—		—
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	—	$	—	$	78	$	—	$	—	$	—	$	—	$	78
Residential improved
Grades 1-3	$	298	$	6,205	$	14,809	$	1,203	$	8,026	$	4,133	$	1,059	$	35,733
Grade 4		187		2,008		538		35,546		1,148		22,009		10,666		72,102
Grade 5		—		—		—		25		—		—		—		25
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	485	$	8,213	$	15,347	$	36,774	$	9,174	$	26,142	$	11,725	$	107,860
Commercial improved
Grades 1-3	$	80	$	14,337	$	19,595	$	48,674	$	17,417	$	22,746	$	5,266	$	128,115
Grade 4		242		16,709		34,150		19,913		30,226		25,580		1,216		128,036
Grade 5		—		—		16		—		—		4,800		—		4,816
Grade 6		—		—		—		289		—		—		—		289
Grade 7-8		—		—		—		—		—		—		—		—
	$	322	$	31,046	$	53,761	$	68,876	$	47,643	$	53,126	$	6,482	$	261,256
Manufacturing and industrial
Grades 1-3	$	3,768	$	7,875	$	42,733	$	5,518	$	6,204	$	7,878	$	642	$	74,618
Grade 4		8,786		18,849		25,603		11,801		7,247		9,292		261		81,839
Grade 5		—		—		—		—		—		448		—		448
Grade 6		232		—		—		—		—		2,566		—		2,798
Grade 7-8		—		—		—		—		—		—		—		—
	$	12,786	$	26,724	$	68,336	$	17,319	$	13,451	$	20,184	$	903	$	159,703

Total Commercial
Grades 1-3	$	18,214	$	68,425	$	124,477	$	74,122	$	43,956	$	80,212	$	76,006	$	485,412
Grade 4		25,585		127,246		108,596		88,757		56,405		104,193		76,492		587,274
Grade 5		—		—		1,216		62		253		6,721		5,133		13,385
Grade 6		232		—		—		289		—		2,577		—		3,098
Grade 7-8		—		—		—		—		—		—		—		—
	$	44,031	$	195,671	$	234,289	$	163,230	$	100,614	$	193,703	$	157,631	$	1,089,169

	Term Loans Amortized Cost Basis By Origination Year and Risk Grades
December 31, 2023	2023		2022		2021		2020		2019		Prior		Revolving		Total
Commercial
Commercial and industrial
Grades 1-3	$	44,605	$	50,019	$	14,727	$	4,795	$	11,941	$	33,652	$	64,840	$	224,579
Grade 4		83,219		41,778		18,081		12,245		1,954		42,601		70,902		270,780
Grade 5		—		1,254		49		269		2		1,559		8,459		11,592
Grade 6		—		—		5		—		—		18		—		23
Grade 7-8		—		—		—		—		—		—		—		—
	$	127,824	$	93,051	$	32,862	$	17,309	$	13,897	$	77,830	$	144,201	$	506,974
Residential development
Grades 1-3	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Grade 4		887		102		—		—		—		—		4,820		5,809
Grade 5		—		—		—		—		—		—		—		—
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	887	$	102	$	—	$	—	$	—	$	—	$	4,820	$	5,809
Unsecured to residential developers
Grades 1-3	$	—	$	—	$	—	$	—	$	—	$	—	$	800	$	800
Grade 4		—		—		—		—		—		—		—		—
Grade 5		—		—		—		—		—		—		—		—
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	—	$	—	$	—	$	—	$	—	$	—	$	800	$	800
Vacant and unimproved
Grades 1-3	$	928	$	7,118	$	9,694	$	6,703	$	—	$	70	$	520	$	25,033
Grade 4		2,961		1,315		729		7,811		154		—		207		13,177
Grade 5		1,324		—		—		—		—		—		—		1,324
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	5,213	$	8,433	$	10,423	$	14,514	$	154	$	70	$	727	$	39,534
Commercial development
Grades 1-3	$	—	$	84	$	—	$	—	$	—	$	—	$	—	$	84
Grade 4		—		—		—		—		—		—		—		—
Grade 5		—		—		—		—		—		—		—		—
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	—	$	84	$	—	$	—	$	—	$	—	$	—	$	84
Residential improved
Grades 1-3	$	5,708	$	13,755	$	1,235	$	8,408	$	248	$	4,511	$	719	$	34,584
Grade 4		2,106		545		34,461		1,173		7,021		15,188		28,771		89,265
Grade 5		—		—		26		—		—		—		—		26
Grade 6		—		—		—		—		—		—		—		—
Grade 7-8		—		—		—		—		—		—		—		—
	$	7,814	$	14,300	$	35,722	$	9,581	$	7,269	$	19,699	$	29,490	$	123,875
Commercial improved
Grades 1-3	$	13,475	$	19,837	$	49,452	$	18,894	$	11,866	$	11,526	$	4,851	$	129,901
Grade 4		11,627		34,347		20,551		30,722		24,118		2,033		1,754		125,152
Grade 5		—		22		—		—		1,761		3,060		—		4,843
Grade 6		—		—		292		—		—		—		—		292
Grade 7-8		—		—		—		—		—		—		—		—
	$	25,102	$	54,206	$	70,295	$	49,616	$	37,745	$	16,619	$	6,605	$	260,188
Manufacturing and industrial
Grades 1-3	$	8,005	$	41,463	$	5,742	$	6,417	$	4,261	$	3,756	$	802	$	70,446
Grade 4		16,604		26,292		12,028		7,412		5,467		12,924		350		81,077
Grade 5		167		—		—		—		—		295		—		462
Grade 6		232		—		—		—		—		2,592		—		2,824
Grade 7-8		—		—		—		—		—		—		—		—
	$	25,008	$	67,755	$	17,770	$	13,829	$	9,728	$	19,567	$	1,152	$	154,809

Total Commercial
Grades 1-3	$	72,721	$	132,276	$	80,850	$	45,217	$	28,316	$	53,515	$	72,532	$	485,427
Grade 4		117,404		104,379		85,850		59,363		38,714		72,746		106,804		585,260
Grade 5		1,491		1,276		75		269		1,763		4,914		8,459		18,247
Grade 6		232		—		297		—		—		2,610		—		3,139
Grade 7-8		—		—		—		—		—		—		—		—
	$	191,848	$	237,931	$	167,072	$	104,849	$	68,793	$	133,785	$	187,795	$	1,092,073

	*Term Loans Amortized Cost Basis By Origination Year*
March 31, 2024	*2024*		*2023*		*2022*		*2021*		*2020*		*Prior*		*Revolving*		*Total*
Retail
Residential mortgage
Performing	$	9,265	$	68,930	$	38,956	$	24,798	$	9,293	$	30,950	$	13,731	$	195,923
Nonperforming		—		—		—		—		—		—		—		—
	$	9,265	$	68,930	$	38,956	$	24,798	$	9,293	$	30,950	$	13,731	$	195,923
Consumer unsecured
Performing	$	—	$	—	$	—	$	—	$	10	$	79	$	—	$	89
Nonperforming		—		—		—		—		—		—		—		—
	$	—	$	—	$	—	$	—	$	10	$	79	$	—	$	89
Home equity
Performing	$	135	$	490	$	626	$	211	$	443	$	1,939	$	49,907	$	53,751
Nonperforming		—		—		—		—		—		—		—		—
	$	135	$	490	$	626	$	211	$	443	$	1,939	$	49,907	$	53,751
Other
Performing	$	260	$	1,638	$	564	$	506	$	185	$	123	$	—	$	3,276
Nonperforming		—		—		—		—		—		—		—		—
	$	260	$	1,638	$	564	$	506	$	185	$	123	$	—	$	3,276

Total Retail	$	9,660	$	71,058	$	40,146	$	25,515	$	9,931	$	33,091	$	63,638	$	253,039

	Term Loans Amortized Cost Basis By Origination Year
December 31, 2023	2023		2022		2021		2020		2019		Prior		Revolving		Total
Retail
Residential mortgage
Performing	$	71,574	$	39,537	$	25,400	$	9,588	$	4,868	$	27,510	$	11,341	$	189,818
Nonperforming		—		—		—		—		—		—		—		—
	$	71,574	$	39,537	$	25,400	$	9,588	$	4,868	$	27,510	$	11,341	$	189,818
Consumer unsecured
Performing	$	—	$	—	$	—	$	11	$	13	$	—	$	105	$	129
Nonperforming		—		—		—		—		—		—		—		—
	$	—	$	—	$	—	$	11	$	13	$	—	$	105	$	129
Home equity
Performing	$	518	$	661	$	217	$	451	$	209	$	1,866	$	49,117	$	53,039
Nonperforming		—		—		—		—		—		—		—		—
	$	518	$	661	$	217	$	451	$	209	$	1,866	$	49,117	$	53,039
Other
Performing	$	1,752	$	658	$	545	$	220	$	32	$	120	$	—	$	3,327
Nonperforming		—		—		—		—		—		—		—		—
	$	1,752	$	658	$	545	$	220	$	32	$	120	$	—	$	3,327

Total Retail	$	73,844	$	40,856	$	26,162	$	10,270	$	5,122	$	29,496	$	60,563	$	246,313