Macatawa: 4Q Earnings Snapshot
HOLLAND, Mich. (AP) _ Macatawa Bank Corp. (MCBC) on Thursday reported fourth-quarter net income of $9 million.
The Holland, Michigan-based bank said it had earnings of 26 cents per share.
The holding company for Macatawa Bank posted revenue of $24.5 million in the period. Its revenue net of interest expense was $23.6 million, which beat Street forecasts.
For the year, the company reported profit of $30.2 million, or 88 cents per share. Revenue was reported as $85.5 million.
Macatawa shares have climbed slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.39, a decline of 22% in the last 12 months.