Macatawa Bank Corporation (MCBC) financial statements (2023 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24313241352849
Cash and cash equivalents24313241352849
Total current assets:24313241352849
Noncurrent Assets
Operating lease, right-of-use asset1  
Property, plant and equipment42434345475051
Deferred income tax assets222
Total noncurrent assets:45454545475051
Other undisclosed assets2,8602,5651,9911,8901,8091,6631,629
TOTAL ASSETS:2,9292,6422,0691,9751,8901,7411,730
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 10 10 222
Total current liabilities: 10 10 222
Noncurrent Liabilities
Other undisclosed liabilities2,6752,3921,8511,7741,7171,5771,556
Total liabilities:2,6752,4021,8511,7841,7171,5791,578
Stockholders' equity
Stockholders' equity attributable to parent254240217191173162152
Common stock219219218218217217217
Accumulated other comprehensive income (loss)(0)42(2)(1)(1)0
Retained earnings (accumulated deficit)3517(2)(25)(43)(53)(65)
Total stockholders' equity:254240217191173162152
TOTAL LIABILITIES AND EQUITY:2,9292,6422,0691,9751,8901,7411,730

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues63737869726864
Net investment income58677568575249
Financial services revenue151615
Cost of revenue (3) (0)  (4)
Provision for loan, lease, and other losses (3) (0)
Financial services costs  (4)
Gross profit:63707869726860
Operating expenses(10)(10)(9)(9)(34)(34)(33)
Other operating income, net
(Noninterest Income, Other Operating Income)
3322223
Operating income:56647162403630
Nonoperating income
(Bank Owned Life Insurance Income)
111111 
Interest and debt expense(3)(6)(12)(9)(6)(5)(5)
Other undisclosed loss from continuing operations before equity method investments, income taxes      (6)
Income from continuing operations before equity method investments, income taxes:55595954353218
Other undisclosed loss from continuing operations before income taxes(19)(22)(20)(21)(8)(10) 
Income from continuing operations before income taxes:36373932272218
Income tax expense(7)(7)(7)(6)(11)(6)(6)
Net income available to common stockholders, diluted:29303226161613

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:29303226161613
Comprehensive income:29303226161613
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(5)34(1)0(2)0
Comprehensive income, net of tax, attributable to parent:25333626161413

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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