Macatawa Bank Corporation Reports First Quarter 2023 Results
Macatawa Bank Corporation (MCBC)
Last macatawa bank corporation earnings: 10/24 04:15 pm
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US:NASDAQ Investor Relations:
investors.macatawabank.com
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Source: GlobeNewswire
HOLLAND, Mich., April 27, 2023 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the “Company”), today announced its results for the first quarter 2023. Net income of $12.0 million in first quarter 2023 – an increase of 100% over $6.0 million earned in first quarter 2022 and consistent with $12.1 million in fourth quarter 2022Net interest margin increased to 3.44% in first quarter 2023 versus 1.85% in first quarter 2022 and 3.34% in fourth quarter 2022Asset-sensitive balance sheet structure continued to produce improved net interest income and net interest margin in rising interest rate environmentContinued loan portfolio growth – $43 million, or 15% annualized growth rate, for the first quarter 2023Adoption of CECL resulted in $1.5 million increase to allowance for credit lossesDeposit portfolio balances decreased $284 million in the first quarter 2023 reflecting seasonal outflows of higher than normal seasonal inflo
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MCBC
News
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MCBC, AIRC, WIRE, MODNAccesswire
- BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Macatawa Bank Corporation (Nasdaq - MCBC), Shockwave Medical, Inc. (Nasdaq – SWAV), Apartment Income REIT Corp. (NYSE - AIRC), Model N, Inc. (NYSE – MODN)GlobeNewswire
- Kuehn Law Encourages MCBC, HES, MGRC, and ANSS Investors to Contact Law FirmPR Newswire
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates IP, WIRE, MCBC, NXPLPR Newswire
- Macatawa Bank Co. (NASDAQ: MCBC) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
MCBC
Earnings
- 1/25/24 - Miss
MCBC
Sec Filings
- 4/15/24 - Form DEFA14A
- 4/15/24 - Form DEFA14A
- 4/15/24 - Form DEFA14A
- MCBC's page on the SEC website