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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCBC at https://www.zacks.com/ap/MCBC

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