Macatawa Bank Corporation Reports Fourth Quarter and Full Year 2023 Results [Yahoo! Finance]
Macatawa Bank Corporation (MCBC)
Last macatawa bank corporation earnings: 10/24 04:15 pm
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Source: Yahoo! Finance
Full year net income of $43.2 million in 2023 – a 24% increase over $34.7 million in the prior year Net income of $9.5 million in fourth quarter 2023 – a decrease from $12.1 million earned in fourth quarter 2022 and from $11.4 million earned in third quarter 2023 Fourth quarter 2023 net income impacted by $1.3 million in non-recurring costs related to CEO retirement – after tax impact of $1.0 million Net interest margin decreased to 3.28% in fourth quarter 2023 versus 3.34% in fourth quarter 2022 and 3.35% in third quarter 2023 Continued loan portfolio growth – $47.1 million, or 14.6% annualized growth rate, for fourth quarter 2023, and $160.6 million, or 13.6%, in the last 12 months Deposit portfolio balances decreased $29.9 million in the fourth quarter 2023 due to seasonal fluctuations in municipal deposits Strong credit quality metrics – non-performing assets total less than $1,000, allowance to total loans coverage of 1.30%, and just one delinquent loan at December 3
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News
- 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
- Macatawa Bank Corporation Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Macatawa Bank Corporation Declares Quarterly DividendGlobeNewswire
MCBC
Earnings
- 4/25/24 - Miss
MCBC
Sec Filings
- 4/25/24 - Form 10-Q
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form 8-K
- MCBC's page on the SEC website