Macatawa Bank Corporation (MCBC) financial statements (2022 and earlier)
Company profile
| Business Address |
10753 MACATAWA DRIVE HOLLAND, MI 49424 |
| State of Incorp. | MI |
| Fiscal Year End | December 31 |
| SIC | 6022 - State Commercial Banks (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 31 | 32 | 41 | 35 | 28 | 49 | 129 | ||
| Cash and cash equivalents | 31 | 32 | 41 | 35 | 28 | 49 | 129 | ||
| Disposal group, including discontinued operation | 2 | ||||||||
| Total current assets: | 31 | 32 | 41 | 35 | 28 | 49 | 132 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 43 | 43 | 45 | 47 | 50 | 51 | 53 | ||
| Long-term investments and receivables | 16 | ||||||||
| Accounts and financing receivable, after allowance for credit loss | 16 | ||||||||
| Deferred income tax assets | 2 | 2 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Total noncurrent assets: | 45 | 45 | 45 | 47 | 50 | 51 | 69 | ||
| Other undisclosed assets | 2,565 | 1,991 | 1,890 | 1,809 | 1,663 | 1,629 | 1,383 | ||
| TOTAL ASSETS: | 2,642 | 2,069 | 1,975 | 1,890 | 1,741 | 1,730 | 1,584 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 10 | 10 | 2 | 22 | 2 | ||||
| Total current liabilities: | 10 | 10 | 2 | 22 | 2 | ||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 2,392 | 1,851 | 1,774 | 1,717 | 1,577 | 1,556 | 1,439 | ||
| Total liabilities: | 2,402 | 1,851 | 1,784 | 1,717 | 1,579 | 1,578 | 1,441 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 240 | 217 | 191 | 173 | 162 | 152 | 143 | ||
| Common stock | 219 | 218 | 218 | 217 | 217 | 217 | 216 | ||
| Accumulated other comprehensive income (loss) | 4 | 2 | (2) | (1) | (1) | 0 | 0 | ||
| Retained earnings (accumulated deficit) | 17 | (2) | (25) | (43) | (53) | (65) | (74) | ||
| Total stockholders' equity: | 240 | 217 | 191 | 173 | 162 | 152 | 143 | ||
| TOTAL LIABILITIES AND EQUITY: | 2,642 | 2,069 | 1,975 | 1,890 | 1,741 | 1,730 | 1,584 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 73 | 78 | 69 | 72 | 68 | 64 | 60 | |
| Net investment income | 67 | 75 | 68 | 57 | 52 | 49 | 47 | |
| Financial services revenue | ✕ | ✕ | ✕ | 15 | 16 | 15 | 14 | |
| Cost of revenue | (3) | (0) | (4) | (3) | ||||
| Provision for loan, lease, and other losses | (3) | (0) | ✕ | ✕ | ✕ | ✕ | ||
| Financial services costs | ✕ | ✕ | ✕ | (4) | (3) | |||
| Gross profit: | 70 | 78 | 69 | 72 | 68 | 60 | 57 | |
| Operating expenses | (10) | (9) | (9) | (34) | (34) | (33) | (35) | |
| Other operating income, net (Noninterest Income, Other Operating Income) | 3 | 2 | 2 | 2 | 2 | 3 | 3 | |
| Operating income: | 64 | 71 | 62 | 40 | 36 | 30 | 24 | |
| Nonoperating income | 1 | 1 | 1 | 1 | 1 | 1 | ||
| Gains on sales of other real estate | 1 | |||||||
| Bank owned life insurance income | 1 | 1 | 1 | 1 | 1 | 1 | ||
| Interest and debt expense | (6) | (12) | (9) | (6) | (5) | (5) | (6) | |
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (6) | (5) | ||||||
| Income from continuing operations before equity method investments, income taxes: | 59 | 59 | 54 | 35 | 32 | 18 | 15 | |
| Other undisclosed loss from continuing operations before income taxes | (22) | (20) | (21) | (8) | (10) | |||
| Income from continuing operations before income taxes: | 37 | 39 | 32 | 27 | 22 | 18 | 15 | |
| Income tax expense | (7) | (7) | (6) | (11) | (6) | (6) | (5) | |
| Net income available to common stockholders, diluted: | 30 | 32 | 26 | 16 | 16 | 13 | 10 | |
Comprehensive Income ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 30 | 32 | 26 | 16 | 16 | 13 | 10 | |
| Comprehensive income: | 30 | 32 | 26 | 16 | 16 | 13 | 10 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 3 | 4 | (1) | 0 | (2) | 0 | 2 | |
| Comprehensive income, net of tax, attributable to parent: | 33 | 36 | 26 | 16 | 14 | 13 | 12 | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.