Macatawa Bank Corporation Reports Fourth Quarter and Full Year 2022 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., Jan. 26, 2023 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the “Company”), today announced its results for the fourth quarter 2022. Full year net income of $34.7 million versus $29.0 million in the prior yearNet income of $12.1 million in fourth quarter 2022 – up 21% versus $10.0 million in third quarter 2022 and up 95% versus $6.2 million in fourth quarter 2021Net interest margin increased 48 basis points to 3.34% in fourth quarter 2022 versus third quarter 2022 and increased 149 basis points versus fourth quarter 2021Intentional asset-sensitive balance sheet structure continued to produce improved net interest income and net interest margin in rising interest rate environmentContinued loan portfolio growth – $39.1 million, or 14% annualized growth rate, for the fourth quarter 2022Provision for loan losses of $375,000 due primarily to loan growthGrew investment securities portfolio by $44.8 m
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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