Macatawa Bank (MCBC) Misses Q2 EPS by 3c
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Macatawa Bank Corporation Reports Second Quarter 2023 Results
July 27, 2023 4:15 PM EDTHOLLAND, Mich., July 27, 2023 (GLOBE NEWSWIRE) -- Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the Company), today announced its results for the second quarter 2023.
Net income of $10.3 million in second quarter 2023 an increase of 57% over $6.6 million earned in second quarter 2022 and down 14% from $12.0 million earned in first quarter 2023Net interest margin increased to 3.36% in second quarter 2023 versus 2.19% in second quarter 2022 and decreased from 3.44% in first quarter 2023Continued loan portfolio growth $50.6 million, or 17% annualized growth rate, for the second quarter 2023, and $162.5 million, or 15%, in the last 12... More