Macatawa Bank Corporation (MCBC) financial statements (2021 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 investments313241352849129
Cash and cash equivalents313241352849129
Disposal group, including discontinued operation      2
Total current assets:313241352849132
Noncurrent Assets
Property, plant and equipment43434547505153
Long-term investments and receivables      16
Accounts and financing receivable, after allowance for credit loss      16
Deferred income tax assets22
Total noncurrent assets:45454547505169
Other undisclosed assets2,5651,9911,8901,8091,6631,6291,383
TOTAL ASSETS:2,6422,0691,9751,8901,7411,7301,584
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt10 10 2222
Total current liabilities:10 10 2222
Noncurrent Liabilities
Other undisclosed liabilities2,3921,8511,7741,7171,5771,5561,439
Total liabilities:2,4021,8511,7841,7171,5791,5781,441
Stockholders' equity
Stockholders' equity attributable to parent240217191173162152143
Common stock219218218217217217216
Accumulated other comprehensive income (loss)42(2)(1)(1)00
Retained earnings (accumulated deficit)17(2)(25)(43)(53)(65)(74)
Total stockholders' equity:240217191173162152143
TOTAL LIABILITIES AND EQUITY:2,6422,0691,9751,8901,7411,7301,584

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
Revenues73786972686460
Net investment income67756857524947
Financial services revenue15161514
Cost of revenue(3) (0)  (4)(3)
Provision for loan, lease, and other losses(3) (0)
Financial services costs  (4)(3)
Gross profit:70786972686057
Operating expenses(10)(9)(9)(34)(34)(33)(35)
Other operating income, net
(Noninterest Income, Other Operating Income)
3222233
Operating income:64716240363024
Nonoperating income11111 1
Gains on sales of other real estate      1
Bank owned life insurance income11111 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:59595435321815
Other undisclosed loss from continuing operations before income taxes(22)(20)(21)(8)(10)  
Income from continuing operations before income taxes:37393227221815
Income tax expense(7)(7)(6)(11)(6)(6)(5)
Net income available to common stockholders, diluted:30322616161310

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:30322616161310
Comprehensive income:30322616161310
Other undisclosed comprehensive income (loss), net of tax, attributable to parent34(1)0(2)02
Comprehensive income, net of tax, attributable to parent:33362616141312

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.

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