Macatawa Bank Corporation

MCBC

MCBCMacatawa Bank Corporation US flag

NASDAQ Global Select

14.82

USD

-0.13

- -

509.24MMarket Cap

Income Statement (USD)

API Chat

	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	69	69	52	57	54	55	59	65	68	76	82	84	78	89	104
+ Sales & Services Revenue	69	69	52	57	54	55	59	65	68	76	82	84	78	89	104
- Cost of Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Profit	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Selling, General & Admin	40	39	29	29	29	28	30	30	29	30	29	31	27	28	31
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	-40	-39	-29	-29	-29	-28	-30	-30	-29	-30	-29	-31	-27	-28	-31
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Non-Operating (Income) Loss	72	17	-6	-17	-14	-15	-18	-22	-27	-32	-39	-37	-36	-43	-54
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	72	17	-6	-17	-14	-15	-18	-22	-27	-32	-39	-37	-36	-43	-54
Pretax Income	-72	-17	6	17	14	15	18	22	27	32	39	37	36	43	54
- Income Tax Expense (Benefit)	-9	1	- -	-19	4	5	6	6	11	6	7	7	7	8	11
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-64	-18	6	35	10	10	13	16	16	26	32	30	29	35	43
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-64	-18	6	35	10	10	13	16	16	26	32	30	29	35	43
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-64	-18	6	35	10	10	13	16	16	26	32	30	29	35	43
- Preferred Dividends	3	- -	- -	- -	18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-67	-18	6	35	-8	10	13	16	16	26	32	30	29	35	43
EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA	4	3	3	3	3	3	3	3	2	3	2	3	3	2	- -
EBITDA Margin (%)	5.31	4.31	6.04	5.25	5.65	5.66	5.03	4.31	3.34	3.37	2.7	3.12	3.48	1.76	0.3
EBITA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	-91.58	-26.03	11.29	62.73	17.59	18.87	21.66	24.54	23.79	34.74	39.08	35.87	37.08	39.21	41.46
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.21	- -	- -	- -	0.17	0.08	0.11	0.12	0.18	0.25	0.28	0.32	0.32	0.32	0.33
Depreciation Expense	4	3	3	3	3	3	3	3	2	3	2	3	3	2	- -
Basic Weighted Avg Shares	17	18	23	27	27	34	34	34	34	34	34	34	34	34	34
Basic EPS, GAAP	-3.81	-1.01	0.26	1.31	-0.3	0.31	0.38	0.47	0.48	0.78	0.94	0.88	0.85	1.01	1.26
Basic EPS from Cont Ops	-3.65	-1.01	0.26	1.31	0.35	0.31	0.38	0.47	0.48	0.78	0.94	0.88	0.85	1.01	1.26
Diluted Weighted Avg Shares	17	18	23	27	27	34	34	34	34	34	34	34	34	34	34
Diluted EPS, GAAP	-3.81	-1.01	0.26	1.31	-0.3	0.31	0.38	0.47	0.48	0.78	0.94	0.88	0.85	1.01	1.26
Diluted EPS from Cont Ops	-3.65	-1.01	0.26	1.31	0.35	0.31	0.38	0.47	0.48	0.78	0.94	0.88	0.85	1.01	1.26

Balance Sheet (USD)

API Chat

	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash, Cash Equivalents & STI	25	21	86	157	203	213	216	212	256	268	257	268	440	550	541
+ Cash & Cash Equivalents	25	21	31	34	64	52	49	28	35	41	32	31	24	51	32
+ ST Investments	- -	- -	55	123	140	162	167	184	221	227	225	237	416	499	509
+ Accounts & Notes Receiv	6	4	4	3	3	3	4	4	5	5	5	6	4	8	9
+ Accounts Receivable, Net	6	4	4	3	3	3	4	4	5	5	5	6	4	8	9
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	-31	-25	-89	-160	-207	-217	-220	-216	-260	-273	-262	-274	-444	-558	-550
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	61	57	55	54	54	53	51	50	47	45	43	43	42	40	39
+ Property, Plant & Equip	85	83	81	81	83	81	82	84	83	81	82	82	83	79	79
- Accumulated Depreciation	24	26	26	28	29	28	31	34	36	36	38	39	41	39	40
+ LT Investments & Receivables	130	9	55	128	159	193	219	254	307	297	308	316	553	848	840
+ LT Investments	130	9	55	128	159	193	219	254	307	297	308	316	553	848	840
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	-191	-66	-110	-181	-213	-246	-270	-304	-353	-342	-351	-360	-595	-888	-879
+ Total Intangible Assets	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	-191	-66	-110	-181	-213	-246	-270	-304	-353	-342	-351	-360	-595	-888	-879
Total Assets	1,830	1,578	1,508	1,561	1,517	1,584	1,730	1,741	1,890	1,975	2,069	2,642	2,929	2,907	2,749
+ Payables & Accruals	5	6	6	9	4	6	5	5	5	6	17	13	12	15	16
+ Accounts Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	5	6	6	9	4	6	5	5	5	6	17	13	12	15	16
+ ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	-5	-6	-6	-9	-4	-6	-5	-5	-5	-6	-17	-13	-12	-15	-16
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	-5	-6	-6	-9	-4	-6	-5	-5	-5	-6	-17	-13	-12	-15	-16
Total Current Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Debt	321	228	191	135	131	129	137	125	133	101	81	91	85	30	30
+ LT Borrowings	321	228	191	135	131	129	137	125	133	101	81	91	85	30	30
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	-321	-228	-191	-135	-131	-129	-137	-125	-133	-101	-81	-91	-85	-30	-30
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	-321	-228	-191	-135	-131	-129	-137	-125	-133	-101	-81	-91	-85	-30	-30
Total Noncurrent Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Liabilities	1,742	1,510	1,413	1,430	1,385	1,441	1,578	1,579	1,717	1,784	1,851	2,402	2,675	2,660	2,462
+ Preferred Equity and Hybrid Capital	33	33	33	33	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	167	167	375	188	216	216	217	217	217	218	218	219	219	220	220
+ Common Stock	- -	- -	188	188	216	216	217	217	217	218	218	219	219	220	220
+ Additional Paid in Capital	167	167	188	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-115	-133	-127	-91	-82	-74	-65	-53	-43	-25	-2	17	35	59	90
+ Other Equity	2	- -	- -	1	-2	- -	- -	-1	-1	-2	2	4	- -	-32	-23
Equity Before Minority Interest	88	68	94	131	133	143	152	162	173	191	217	240	254	247	287
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	88	68	94	131	133	143	152	162	173	191	217	240	254	247	287
Total Liabilities & Equity	1,830	1,578	1,508	1,561	1,517	1,584	1,730	1,741	1,890	1,975	2,069	2,642	2,929	2,907	2,749
Shares Outstanding	18	18	27	27	34	34	34	34	34	34	34	34	34	34	34
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	296	207	161	101	68	78	88	98	98	61	49	59	61	-21	-2
Net Debt to Equity	336.65	305.05	170	77.51	50.95	54.62	58.1	60.23	56.89	31.81	22.38	24.66	24.15	-8.59	-0.81
Tangible Common Equity Ratio	2.96	2.2	4.06	6.24	8.73	9	8.79	9.32	9.15	9.66	10.51	9.08	8.67	8.5	10.44
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement (USD)

API Chat

	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-64	-18	6	35	10	10	13	16	16	26	32	30	29	35	43
+ Depreciation & Amortization	4	3	3	3	3	3	3	3	2	3	2	3	3	2	- -
+ Non-Cash Items	99	25	4	-9	3	- -	- -	- -	4	1	-4	- -	3	1	1
+ Stock-Based Compensation	1	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	1	1	1	1
+ Deferred Income Taxes	18	- -	- -	-19	- -	3	3	1	5	1	- -	-1	1	1	1
+ Asset Impairment Charge	- -	8	10	5	3	2	1	1	- -	1	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	79	17	-6	4	- -	-5	-4	-3	-2	- -	-4	- -	1	-1	- -
+ Chg in Non-Cash Work Cap	-14	23	-1	-16	1	3	-2	-2	- -	-1	-1	-2	1	-2	-1
+ (Inc) Dec in Accts Receiv	-11	23	-2	2	- -	2	-1	-2	- -	-2	-2	-8	4	-6	-2
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-14	1	1	1	-4	2	-1	- -	- -	1	1	6	-2	4	1
+ Inc (Dec) in Other	11	- -	- -	-19	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	25	34	12	13	16	17	14	17	23	30	30	31	36	35	44
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	8	16	- -	- -	- -	- -	- -	- -	2	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	8	16	- -	- -	- -	- -	- -	- -	2	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1	-1	-1	-1	-2	-2	-1	-1	-1	-1	-1	-2	-1	-1	- -
+ Acq of Fixed Prod Assets	-1	-1	-1	-1	-2	-2	-1	-1	-1	-1	-1	-2	-1	-1	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	2	- -	19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Increase in Capital Stock	2	- -	19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	57	120	-45	-71	-38	-32	-25	-38	-52	7	4	-15	-242	-335	20
+ Dec in LT Investment	74	139	28	49	24	37	71	85	53	49	83	153	106	117	59
+ Inc in LT Investment	-17	-19	-73	-119	-62	-69	-96	-123	-105	-42	-79	-168	-347	-452	-39
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	176	221	119	27	-1	-62	-69	-66	-32	-83	21	-46	312	-67	-158
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	240	356	73	-44	-41	-96	-95	-105	-83	-77	25	-64	69	-402	-138
+ Dividends Paid	-4	- -	- -	- -	-5	-3	-4	-4	-6	-8	-10	-11	-11	-11	-11
+ Net Cash From Debt	-5	-93	-36	-57	-3	-2	8	-12	8	-32	-21	10	-6	-55	- -
+ Cash From Debt	87	120	11	- -	- -	- -	10	10	40	20	10	10	25	25	- -
+ Repayments of Debt	-92	-213	-47	-57	-3	-2	-2	-22	-32	-52	-31	- -	-31	-80	- -
+ Other Financing Activities	-247	-140	-61	71	-37	56	129	13	130	98	77	545	279	37	-199
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-254	-232	-78	14	-45	52	133	-3	132	57	46	544	263	-29	-211
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	10	157	7	-17	-69	-27	52	-92	72	10	101	511	368	-397	-305
EBITDA	4	3	3	3	3	3	3	3	2	3	2	3	3	2	- -
EBITDA Margin (%)	5.31	4.31	6.04	5.25	5.65	5.66	5.03	4.31	3.34	3.37	2.7	3.12	3.48	1.76	0.3
Free Cash Flow	24	33	11	13	14	15	13	16	22	28	29	28	35	34	43
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Firm	- -	- -	11	- -	14	15	13	16	22	28	29	28	35	34	43
Free Cash Flow to Equity	26	-44	-25	-44	-40	13	21	4	31	-4	8	38	29	-21	43
Free Cash Flow per Basic Share	1.39	1.86	0.49	0.47	0.51	0.44	0.38	0.46	0.64	0.83	0.84	0.83	1.02	0.99	1.26
Price/Free Cash Flow	1.07	1.61	2.97	4.16	5.47	7.67	10.58	15.52	11.49	8.78	10.51	7.72	7.52	10.1	8.61
Cash Flow to Net Income	-0.39	-1.88	2.08	0.38	1.71	1.59	1.09	1.06	1.4	1.12	0.93	1.01	1.24	1	1.01
Capital Expenditures	-1	-1	-1	-1	-2	-2	-1	-1	-1	-1	-1	-2	-1	-1	- -