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Displaying items tagged: Macatawa Bank Corp

Thursday, 28 April 2022 22:28

Macatawa Bank’s Q1 earnings dip from last year

Lower fee income resulting from reduced home mortgage originations and the federal government’s Paycheck Protection Program loans caused Macatawa Bank Corp.’s earnings to decline in the first quarter from a year earlier.

Published in Finance
Friday, 28 January 2022 13:02

Macatawa Bank reports lower Q4 earnings as PPP loan forgiveness dips

HOLLAND — Macatawa Bank Corp. recorded lower fourth quarter earnings that partly resulted from reduced fee income as fewer federal Paycheck Protection Program loans were forgiven.

Published in Finance
Friday, 29 October 2021 10:37

Macatawa Bank earnings increase slightly amid deposit, commercial loan growth

HOLLAND TWP. — Macatawa Bank Corp.’s third-quarter earnings grew slightly from a year earlier amid strong deposit growth.

Published in Finance

Sunday, 10 October 2021 17:30

New customers, federal relief programs drive growth in bank deposits

Some of the smallest banks in Michigan’s market recorded the biggest growth rates in deposits during a recent 12-month period of the COVID-19 pandemic.

Published in Finance
Sunday, 12 September 2021 17:50

Union Bank eyes ‘huge opportunity’ for GR-area market share with new HQ

GRAND RAPIDS TWP. — Relocating its headquarters closer to Grand Rapids will give Union Bank a bigger presence in a market that’s been generating growth for a few years.

Published in Finance
Friday, 23 April 2021 10:15

Macatawa Bank Q1 gains spurred by mortgages

HOLLAND — Macatawa Bank Corp. reported higher earnings for the first quarter as gains on mortgages tripled from a year earlier and more than offset lower interest income.

Published in Finance

Friday, 29 January 2021 09:14

Macatawa Bank reports higher Q4 earnings as it ramps up more PPP lending

HOLLAND — Macatawa Bank Corp. increased earnings in the fourth quarter, although full-year results declined from the prior year.

Published in Finance
Friday, 23 October 2020 10:06

Macatawa Bank reports lower Q3 earnings yet ‘solid profitability’

HOLLAND — Costs from the COVID-19 pandemic lowered Macatawa Bank Corp.’s most recent quarterly earnings.

Published in Finance
Sunday, 02 August 2020 16:20

Bracing for more economic fallout, West Michigan banks boost loan-loss reserves

Given how hard the economy fell in the second quarter, earnings for West Michigan-based banks held up relatively well, although they were primarily lower than a year earlier as banks set aside more in reserve to cover potential future loan losses.

Published in Finance

Friday, 24 July 2020 09:50

Macatawa Bank reports lower Q2 earnings related to COVID-19 challenges

Macatawa Bank Corp. reported lower earnings for the second quarter after raising a reserve to cover potential future loan losses.

Published in Finance
Sunday, 24 May 2020 18:50

Reporter's Notebook: Banker beware

In a recent conference call, the president and CEO of Detroit-based TCF Financial Corp. — the parent company of what remains known in Michigan as Chemical Bank — voiced a simple ethic that all businesses, no matter their industry or their size, must keep in mind in the COVID-19 pandemic.

Published in Finance
Friday, 24 April 2020 04:50

Macatawa Bank reports lower first quarter earnings

HOLLAND — Earnings at Macatawa Bank Corp. declined for the first quarter, largely from higher a loan-loss provision because of the COVID-19 pandemic.

Published in Finance

Wednesday, 18 March 2020 10:14

Some West Michigan banks close lobbies in response to COVID-19

Two locally-based banks — Mercantile Bank and West Michigan Community Bank — plan to close the lobbies of bank branches to customers starting Wednesday.

Published in Finance
Sunday, 15 March 2020 09:22

MiBiz Growth Report: March 15, 2020

MiBiz Growth Report for March 15, 2020.

Published in Economic Development
Friday, 28 February 2020 12:37

Goodrich Quality Theaters files for Chapter 11 bankruptcy

GRAND RAPIDS — Goodrich Quality Theaters Inc., a Grand Rapids-based chain of 30 movie theaters in five states, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Western District of Michigan.

Published in Economic Development

Friday, 28 February 2020 04:49

Jedco Inc. gets $1.9 million from the state, plans move

GRAND RAPIDS — Grand Rapids-based Jedco Inc. is expanding and planning to move from its current location.

Friday, 24 January 2020 12:01

Macatawa Bank reports strong net income growth for fourth quarter

HOLLAND — Macatawa Bank Corp. grew net income 16 percent in the fourth quarter to $8.1 million, or 24 cents per diluted share, capping off a year of strong earnings growth.

Published in Finance
Friday, 25 October 2019 07:30

Macatawa Bank reports higher earnings for 3Q

Macatawa Bank Corp. grew earnings nearly 20 percent in the third quarter from a year earlier.

Published in Finance

Friday, 26 July 2019 10:32

Macatawa Bank earnings up 20 percent for second quarter

HOLLAND — Macatawa Bank Corp. grew earnings by nearly 20 percent in the second quarter, maintaining the company’s strong financial performance.

Published in Finance
Friday, 26 April 2019 07:40

Macatawa Bank reports strong start to 2019

Macatawa Bank Corp. recorded strong earnings growth for the first three months of 2019.

Published in Finance
Friday, 25 January 2019 11:31

Macatawa Bank reports higher fourth quarter, 2018 earnings

Macatawa Bank Corp. nearly tripled earnings for the fourth quarter.

Published in Finance

Friday, 26 October 2018 11:12

Earnings soar for Macatawa Bank in third quarter

Macatawa Bank Corp. grew earnings more than 40 percent in the third quarter.

Published in Finance
Thursday, 26 July 2018 16:45

Macatawa Bank reports ‘consistent and profitable growth’ in second quarter

Macatawa Bank Corp. credits higher net interest income, federal tax reform and cost control for a 17.5 percent increase in earnings for the second quarter.

Published in Breaking News
Saturday, 07 July 2018 12:23

Cautious and appropriate: Businesses slow to take on debt, even as optimism grows, bankers say

Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.

Published in Finance

Friday, 27 April 2018 11:21

Federal tax reform boosts earnings for West Michigan community banks

A lower federal corporate tax rate contributed to higher earnings for West Michigan community banks that reported quarterly results this week.

Published in Breaking News
Sunday, 04 March 2018 18:52

MiBiz Growth Report: March 5, 2018

Here is the MiBiz Growth Report for March 5, 2018:

• M&A: After nearly doubling the business over the last two and a half years, the private equity owners of Action Fabricators Inc. decided the market timing was right to find a partner to take the company to the next level. Last week, Chattanooga, Tenn.-based River Associates Investments LLC announced it had sold the Grand Rapids-based manufacturer of adhesive-backed products for the automotive and medical device industry to Boyd Corp. of Modesto, Calif. Terms of the deal were not disclosed. Action Fabricators grew revenues from around $45 million in 2015 to nearly $80 million at the time of the sale. President and CEO Jon Rudolph and the rest of the management team will stay on with the new owners. Boyd is a portfolio company of San Francisco-based Genstar Capital. Milwaukee, Wis.-based Robert W. Baird & Co. represented Action Fabricators in the deal.

Published in Breaking News
Friday, 26 January 2018 10:20

Macatawa Bank posts full-year growth, despite fourth-quarter dip

Macatawa Bank Corp. recorded higher earnings for 2017, despite a decline in net income for the fourth quarter from having to revalue a deferred tax asset after federal tax reform late in the year.

Published in Breaking News

Sunday, 10 December 2017 12:57

A ‘healthy’ market: Brokers reflect on West Michigan commercial real estate deals in 2017

While inventory remains constrained, the value of commercial real estate transactions continues to gather momentum in West Michigan.

Friday, 27 October 2017 11:38

Macatawa Bank posts higher earnings as commercial loans grow

Macatawa Bank Corp. (Nasdaq: MCBC) reported higher earnings of $4.8 million for the third quarter, or 14 cents per share.

Published in Breaking News
Thursday, 27 July 2017 19:58

‘Favorable trends’ through first half of 2017 boost Macatawa Bank’s performance

Macatawa Bank Corp. recorded strong earnings growth for the second quarter.

Published in Breaking News

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