The Board of Directors of Macatawa Bank has selected Richard L. Postma to be the new Chairman of Macatawa Bank Corp. Postma 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 will also work with current and potential investors to raise capital and improve the Bank's financial position. He assumes the role of Chairman from Robert E. DenHerder, a founding director of the Bank and who remains on the board. He currently serves on the Board of Trustees of Hope College and the Board of Directors of AboveNet Inc., where he is a member of the Audit Committee, Compensation Committee, and Strategy Committee.

Macatawa Bank Corp. amended Section 5.1 of its Bylaws effective October 29, 2009. As previously in effect, Article V of the Corporation's Bylaws in Section 5.1 stated that the Chairman of the Board was considered to be an officer of the Corporation. As amended, the Bylaws continue to authorize the Board of Directors to appoint a Chairman from among the members of the Board of Directors, but state that the Chairman of the Board is not an officer or executive officer of the Corporation unless he or she has also been appointed president or chief executive officer or otherwise appointed or designated as an officer of the Corporation by the Board of Directors.

Macatawa Bank Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss available to common shares of $20.9 million or $1.18 per diluted share compared to net income available to common shares of $1.9 million or $0.11 per diluted share for the same period a year ago. Total interest income was $23.5 million compared with $28.6 million for the same period a year ago. Net interest income was $13.2 million compared with $14.8 million for the same period a year ago. Loss before income tax was $20.5 million compared with income before income tax of $2.5 million for the same period a year ago. Net loss was $19.9 million compared with net income of $1.9 million for the same period a year ago. Negative return on average assets was 3.97% compared with return on average assets of 0.35% for the same period a year ago. Negative return on average equity was 67.58% compared with return on average equity of 4.92% for the same period a year ago. For the nine months, the company reported net loss available to common shares of $57.3 million or $3.30 per diluted share compared to net loss available to common shares of $3.8 million or $0.22 per diluted share for the same period a year ago. Total interest income was $73.2 million compared with $89.1 million for the same period a year ago. Net interest income was $39.4 million compared with $44.6 million for the same period a year ago. Loss before income tax was $51.6 million compared with loss before income tax of $6.9 million for the same period a year ago. Net loss was $54.4 million compared with net loss of $3.8 million for the same period a year ago. Negative return on average assets was 3.53% compared with negative return on average assets of 0.24% for the same period a year ago. Negative return on average equity was 53.28% compared with negative return on average equity of 3.16% for the same period a year ago. As on September, the company's book value per common share was $3.64.