Macatawa Bank (MCBC) Tops Q3 EPS by 5c
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Macatawa Bank Corporation Reports Third Quarter 2022 Results
October 27, 2022 4:15 PM EDTHOLLAND, Mich., Oct. 27, 2022 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the Company), today announced its results for the third quarter 2022.
Net income of $10.0 million in third quarter 2022 up 53% versus $6.6 million in second quarter 2022 and up 39% versus $7.2 million in third quarter 2021Net interest income of $19.8 million in third quarter 2022 versus $14.8 million in second quarter 2022 and $14.3 million in third quarter 2021Net interest margin increased 67 basis points to 2.86% in third quarter 2022 versus second quarter 2022Strong credit metrics and net loan recoveries resulted in no... More