Macatawa Bank Corporation (MCBC) news stock charts
Macatawa Bank Corporation (MCBC) Investment Summary:
As used in this Annual Report, the terms “we,” “us,” “our” and “Macatawa” mean Macatawa Bank Corporation and its subsidiaries, unless the context indicates another meaning. General Macatawa Bank Corporation is a Michigan corporation and is a financial holding company and the bank holding company for its wholly owned banking subsidiary, Macatawa Bank, as well as Macatawa Investment Services, Inc., Macatawa Statutory Trust I and Macatawa Statutory Trust II. Effective November 1, 2006, Macatawa Investment Services, Inc. ceased doing business as a registered broker-dealer. On November 1, 2006 Macatawa Bank began offering brokerage services to its customers through an arrangement with Infinex Investments, Inc. (“Infinex”). Infinex is a full services investment provider, a registered broker-dealer and a member of the National Association of Securities Dealers (NASD) and the Securities Investor Protection Corporation (SIPC). ... More..."http://secfilings.nasdaq.com/edgar_conv_html%2f2008%2f03%2f14%2f0000926044-08-000207.html#FIS_BUSINESS"www.macatawabank.com
380 Employees
Founded in 1997
MACATAWA BANK CORP (MCBC:NASDAQ)
LAST $1.62 USD
CHANGE TODAY -0.05 -2.99%
VOLUME 101.3K
As of 8:10 PM 03/19/10 All times are local (Market data is delayed by at least 15 minutes).
Snapshot of MACATAWA BANK CORP (MCBC)
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OPEN
$1.67
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PREVIOUS CLOSE
$1.67
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DAY HIGH
$1.73
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DAY LOW
$1.62
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52 WEEK HIGH
03/27/09 - $4.00
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52 WEEK LOW
02/26/10 - $1.50
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MARKET CAP
28.7M
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AVERAGE VOLUME 10 D
25.0K
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EPS TTM
$-4.22
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SHARES OUTSTANDING
17.7M
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EX-DATE
09/29/08
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P/E TTM
--
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DIVIDEND
--
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DIVIDEND YIELD
0.00%
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| K = Thousands M = Millions B = Billions | ||
Key developments for MACATAWA BANK CORP (MCBC)
Macatawa Bank Corp. expected to Report Q1 2010 Results on April 19, 2010. This event was calculated by Capital IQ (Created on February 8, 2010).
02/8/2010
Macatawa Bank Corp. expected to Report Q1 2010 Results on April 19, 2010. This event was calculated by Capital IQ (Created on February 8, 2010).
Macatawa Bank Reports Consolidated Unaudited Earnings Results for Fourth Quarter and Full Year Ended December 31, 2009
01/28/2010
Macatawa Bank Corp. reported consolidated unaudited earnings results for fourth quarter and full year ended December 31, 2009. For the quarter the company reported net loss and net loss available to common shares of $9,209,000 or $0.52 loss per diluted share on total interest income of $22,690,000 compared to net loss of $35,057,000 and net loss available to common shares of $35,874,000 or $2.11 loss per diluted share on total interest income of $26,945,000 for the same period a year ago. Loss before income tax was $20,594,000 compared to loss before income tax of $40,337,000 for the same period a year ago. Negative return on average assets was 1.95% against negative return on average assets of 6.59% for the same period in the last year. Negative return on average equity was 38.85% against negative return on average equity of 84.90% for the same period in the last year. Book value per common share as at December 31, 2009 was $3.10 against $6.91 as at December 31, 2008. Net interest income was $13,406,000 against $13,510,000 for the same period in the last year. For full year period, the company reported net loss of $63,641,000 and net loss available to common shares of $66,511,000 or $3.81 loss per diluted share on total interest income of $95,878,000 compared to net loss of $38,854,000 and net loss available to common shares of $39,671,000 or $2.34 loss per diluted share on total interest income of $116,075,000 for the same period a year ago. Loss before income tax was $72,241,000 compared to loss before income tax of $47,227,000 for the same period a year ago. Negative return on average assets was 3.16% against negative return on average assets of 1.82% for the same period in the last year. Negative return on average equity was 50.60% against negative return on average equity of 24.06% for the same period in the last year. Net interest income was $52,793,000 against $58,131,000 for the same period in the last year.
Philip J. Koning Resigns from the Board of Directors of Macatawa Bank Corp. and Macatawa Bank
12/8/2009
On December 4, 2009, Philip J. Koning announced that he is retiring from his service with Macatawa Bank Corp. and its affiliates. Mr. Koning resigned from the Board of Directors of Macatawa Bank effective December 4, 2009. Mr. Koning's employment in all other positions with the Corporation and its affiliates will end May 20, 2010. Mr. Koning served as the Corporation's President and Co-Chief Executive Officer from February 9, 2009 until August 12, 2009.
Macatawa Bank Corporation financial resources
MCBC Competitors
| Company | Last | Change |
| Capitol Bancorp Ltd | $2.88 USD | +0.33 |
| Fentura Financial Inc | $1.65 USD | 0.00 |
| MBT Financial Corp | $1.53 USD | +0.044 |
| Mercantile Bank Corp | $4.01 USD | +0.08 |
| OAK Financial Corp | $26.94 USD | +0.44 |
| Market data is delayed at least 15 minutes. | ||
Industry Analysis
| Valuation | MCBC | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | NM | Not Meaningful |
| Price/Book | 0.3x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 76.5x |
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MCBC |
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MCBC transactions
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Target | |
| No transactions in the last 6 months. | ||
More Recent Financial News About Macatawa Bank Corporation
Macatawa Bank Corporation Reports Fourth Quarter Results
2010-03-01 03:20:28
Quote: MCBCNews) today announced its results for the fourth quarter 2009.The Company's results for the quarter included:Macatawa Bank reported a net loss available to common shares of $9.2 million, or $0.52 per diluted share, for the fourth quarter 2009, compared to a net loss of $35.1 million, or $2.11 per diluted share, for the fourth quarter 2008. The net loss for the full year 2009 totaled $63.6 million, or $3.81 per diluted share, compared with net loss of $38.9 million, or $2.34 per diluted share...Read article
Macatawa Bank Corporation Announces Date for Its Fourth Quarter 2009 Earnings Release
2010-03-01 03:20:28
Quote: EST.
Macatawa Bank Corporation is a bank holding company headquartered in Holland, Michigan and the parent company for Macatawa Bank. The Corporation provides a full range of banking, investment and trust services to individuals, businesses, and governmental entities from a network of 26 full service branches located in communities in Kent County, Ottawa County, and northern Allegan County.
CAUTIONARY STATEMENT: This press release may contain certain forward-looking statements that involve ris...Read article
Macatawa Bank Enters Into Consent Order With Regulators
2010-03-01 03:20:26
Quote: MCBCNews) today announced that its subsidiary, Macatawa Bank, has entered into a Consent Order with the Federal Deposit Insurance Corporation ("FDIC") and the Michigan Office of Financial and Insurance Regulation ("OFIR") and implemented measures designed to strengthen the Bank's operations.By entering the Consent Order, the Bank has agreed to increase management and board oversight, improve process and controls, limit lending to certain borrowers, obtain regulatory approval of future dividends,...Read article
Macatawa Bank Corporation Reports Fourth Quarter Results
2010-02-26 08:05:24
Quote: MCBCNews) today announced its results for the fourth quarter 2009.The Company's results for the quarter included:Macatawa Bank reported a net loss available to common shares of $9.2 million, or $0.52 per diluted share, for the fourth quarter 2009, compared to a net loss of $35.1 million, or $2.11 per diluted share, for the fourth quarter 2008. The net loss for the full year 2009 totaled $63.6 million, or $3.81 per diluted share, compared with net loss of $38.9 million, or $2.34 per diluted share...Read article
MACATAWA BANK CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financia
2010-02-26 08:05:22
Quote: Item 1.01 Entry into a Material Definitive Agreement.
On February 22, 2010, Macatawa Bank Corporation's wholly-owned subsidiary,
Macatawa Bank (the "Bank"), entered into a Consent Order with the Federal
Deposit Insurance Corporation ("FDIC") and the Michigan Office of Financial and
Insurance Regulation ("OFIR"), the primary banking regulators of the Bank. The
Bank agreed to the terms of the negotiated Consent Order without admitting or
denying any charges of unsafe...Read article
Macatawa Bank Enters Into Consent Order With Regulators
2010-02-26 08:05:22
Quote: MCBCNews) today announced that its subsidiary, Macatawa Bank, has entered into a Consent Order with the Federal Deposit Insurance Corporation ("FDIC") and the Michigan Office of Financial and Insurance Regulation ("OFIR") and implemented measures designed to strengthen the Bank's operations.By entering the Consent Order, the Bank has agreed to increase management and board oversight, improve process and controls, limit lending to certain borrowers, obtain regulatory approval of future dividends,...Read article
Q4 2009 Macatawa Bank Corporation Earnings Release - 4:15 pm ET
2010-01-29 02:04:40
Quote: Read article
Macatawa Bank Corporation Reports Fourth Quarter Results
2010-01-29 02:04:39
Quote: MCBCNews) today announced its results for the fourth quarter 2009.  The Company’s results for the quarter included:Macatawa Bank reported a net loss available to common shares of $9.2 million, or $0.52 per diluted share, for the fourth quarter 2009, compared to a net loss of $35.1 million, or $2.11 per diluted share, for the fourth quarter 2008. The net loss for the full year 2009 totaled $63.6 million, or $3.81 per diluted share, compared with net loss of $38.9 million, or $2.3...Read article
MACATAWA BANK CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibi
2010-01-29 02:04:38
Quote: MACATAWA BANK CORPRequest a Trial to NEW EDGAR Online Pro
Form
8-K for
MACATAWA BANK CORP
28-Jan-2010Results of Operations and Financial Condition, Financial Statements and Exhibi
Privacy PolicyAbout Our AdsTerms of ServiceCopyright/IP PolicySend FeedbackSEC
Filing data and information provided by EDGAR Online,
Inc.
(1-800-416-6651). All information provided "as is"
for informational purposes
only, not intended for trading purposes or advice.
Neither Yahoo! nor any of
independent providers is li...Read article
Macatawa Bank Corporation Announces Date for Its Fourth Quarter 2009 Earnings Release
2010-01-08 04:45:06
Quote: EST.
Macatawa Bank Corporation is a bank holding company headquartered in Holland, Michigan and the parent company for Macatawa Bank. The Corporation provides a full range of banking, investment and trust services to individuals, businesses, and governmental entities from a network of 26 full service branches located in communities in Kent County, Ottawa County, and northern Allegan County.
CAUTIONARY STATEMENT: This press release may contain certain forward-looking statements that involve ris...Read article
MACATAWA BANK CORP Files SEC form 8-K, Change in Directors or Principal Officers
2009-12-23 01:53:40
Quote: Item 5.02Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On December 17, 2009, the Board of Directors of Macatawa Bank Corporation (the
"Corporation") adopted changes to the fee structure for directors of the
Corporation and its subsidiary, Macatawa Bank (the "Bank"). The changes are
expected to result in a material reduction in total fees paid. A summary of the
new fee struct...Read article
Q3 2009 Macatawa Bank Corporation Earnings Release - 4:15 pm ET
2009-11-30 04:47:50
Quote: Read article
Macatawa Bank Corporation Announces Date for Its Third Quarter 2009 Earnings Release
2009-11-30 04:47:50
Quote: The Company also intends to file on the same date its Report on Form 10-Q for the quarter ended September 30, 2009 with the Securities and Exchange Commission.
Macatawa Bank Corporation is a bank holding company headquartered in Holland, Michigan and the parent company for Macatawa Bank. The Corporation provides a full range of banking, investment and trust services to individuals, businesses, and governmental entities from a network of 26 full service branches located in communities in Kent Co...Read article
MACATAWA BANK CORP Files SEC form 8-K, Entry into a Material Definitive Agreement, Creation of a Direct Financial Obl
2009-11-30 04:47:50
Quote: Entry Into a Material Definitive Agreement.
Private Offering
On September 9, 2009, Macatawa Bank Corporation (the "Company") entered into
a Subscription and Purchase Agreement, dated as of September 9, 2009, with a
single accredited investor, under which the Company agreed to issue 42,553
shares of its common stock at $2.35 per share, for the aggregate purchase price
of $100,000 (the "Common Subscription Agreement").
On September 9, 2009, the Company also entered into Subs...Read article
MACATAWA BANK CORP Files SEC form 8-K, Change in Directors or Principal Officers
2009-11-30 04:47:50
Quote: Haan was appointed as Interim Chief
Executive Officer and Interim President of Macatawa Bank Corporation (the
"Corporation"). Mr. Haan has been serving as Co-Chief Executive Officer of the
Corporation since February 9, 2009. Mr. Haan continues to serve as Secretary and
Treasurer of the Corporation.
Effective August 12, 2009, Mr. Ronald L. Haan was also elected to serve as the
Interim Chairman, Interim Chief Executive Officer and Interim President of
Macatawa Bank, the Corporation's who...Read article
Macatawa Bank Corporation Reports 3rd Quarter Results
2009-11-30 04:47:49
Quote: Haan, Chief Executive Officer of Macatawa Bank Corporation. During the quarter, the Company proactively set aside additional reserves for the potential losses on these loans.
"Significant write-downs in the valuation of our problem assets and modest improvement in the real estate markets have given us the opportunity to accelerate the disposition of these assets. In addition, we continue to strengthen our team of professionals experienced in loan workouts and real estate sales," added Mr. Haan....Read article
Respected Business Leader Becomes Chairman of Macatawa Bank Corp.
2009-11-30 04:47:48
Quote: Postma, a successful and respected business leader in West Michigan, to be the new Chairman of Macatawa Bank Corp.
Postma, who is the co-founder and CEO of U.S. Signal Co., LLC, has joined the board of the holding company and will work closely with other directors and the Bank's leadership team to provide strategic direction, improve shareholder value and return the bank to profitability. Backed by more than 35 years of professional experience launching, leading and growing companies, Postma wi...Read article
MACATAWA BANK CORP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibi
2009-11-30 04:47:48
Quote: MACATAWA BANK CORPRequest a Trial to NEW EDGAR Online Pro
Form
8-K for
MACATAWA BANK CORP
30-Oct-2009Results of Operations and Financial Condition, Financial Statements and Exhibi
Privacy PolicyTerms of ServiceCopyright/IP PolicySend FeedbackSEC
Filing data and information provided by EDGAR Online,
Inc.
(1-800-416-6651). All information provided "as is"
for informational purposes
only, not intended for trading purposes or advice.
Neither Yahoo! nor any of
independent providers is liable for any ...Read article
MACATAWA BANK CORP Files SEC form 8-K, Change in Directors or Principal Officers, Amendments to Articles of Inc. or B
2009-11-30 04:47:47
Quote: Postma has been appointed to the
Board of Directors of Macatawa Bank Corporation (the "Corporation"). Mr. Postma
has also been appointed to the position of Chairman of the Board of Directors in
which position he is not an officer of the Corporation. Mr. Postma has not yet
been appointed to any committees of the Corporation's Board of Directors.
Mr. Postma is not a party to any transaction, or series of transactions,
required to be disclosed pursuant to Item 404(a) of Regulation S-K. Th...Read article
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