Macatawa Bank (MCBC) Misses Q1 EPS by 1c
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Macatawa Bank Corporation Reports First Quarter 2024 Results
April 25, 2024 4:15 PM EDTHOLLAND, Mich., April 25, 2024 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the Company), today announced its results for the first quarter 2024.
Net income of $9.8 million in first quarter 2024  a decrease from $12.0 million earned in first quarter 2023 and an increase from $9.5 million earned in fourth quarter 2023Net interest margin of 3.26% in first quarter 2024 versus 3.44% in first quarter 2023 and 3.28% in fourth quarter 2023Continued loan portfolio growth  $3.8 million, or 1.1% annualized growth rate, for first quarter 2024, and $121.3 million, or 9.9%, in the last 12 monthsDeposit portfolio balances decreased $131.3 million in the first quarter... More