Macatawa Bank Corporation Reports First Quarter 2024 Results [Yahoo! Finance]
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: Yahoo! Finance
Net income of $9.8 million in first quarter 2024 – a decrease from $12.0 million earned in first quarter 2023 and an increase from $9.5 million earned in fourth quarter 2023 Net interest margin of 3.26% in first quarter 2024 versus 3.44% in first quarter 2023 and 3.28% in fourth quarter 2023 Continued loan portfolio growth – $3.8 million, or 1.1% annualized growth rate, for first quarter 2024, and $121.3 million, or 9.9%, in the last 12 months Deposit portfolio balances decreased $131.3 million in the first quarter 2024 due to seasonal fluctuations in municipal and business deposits Strong credit quality metrics – non-performing assets total less than $1,000, allowance to total loans coverage of 1.30% as of March 31, 2024 No provision for credit losses required in first quarter 2024 Entered into a definitive merger agreement on April 15, 2024 with Wintrust Financial Corporation (“Wintrust”) Approximately $300,000 in merger related expenses decreased earnings in the firs
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MCBC
News
- Kuehn Law Encourages MODN, DPSI, WIRE and MCBC Investors to Contact Law FirmPR Newswire
- Macatawa Bank Co. (NASDAQ: MCBC) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating. They now have a $15.00 price target on the stock, up previously from $12.00.MarketBeat
- SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Announces An Investigation of Macatawa Bank Corp. - MCBCPR Newswire
- Macatawa Bank Co. (NASDAQ: MCBC) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Macatawa Bank (MCBC) Q1 Earnings and Revenues Miss Estimates [Yahoo! Finance]Yahoo! Finance
MCBC
Earnings
- 4/25/24 - Miss
MCBC
Analyst Actions
- 4/29/24 - Keefe, Bruyette & Woods
MCBC
Sec Filings
- 4/29/24 - Form 10-K/A
- 4/25/24 - Form 10-Q
- 4/25/24 - Form DEFA14A
- MCBC's page on the SEC website