U.S. Markets closed

Macatawa: 4Q Earnings Snapshot

HOLLAND, Mich. (AP) _ Macatawa Bank Corp. (MCBC) on Thursday reported fourth-quarter net income of $8.2 million.

The Holland, Michigan-based bank said it had earnings of 24 cents per share.

The holding company for Macatawa Bank posted revenue of $23.5 million in the period. Its revenue net of interest expense was $20.8 million, topping Street forecasts.

For the year, the company reported profit of $32 million, or 94 cents per share. Revenue was reported as $83.2 million.

Macatawa shares have fallen 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.68, a climb of nearly 7% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCBC at https://www.zacks.com/ap/MCBC