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Macatawa Bank Announces Stock Swap

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HOLLAND TWP., MI (WHTC) - Officials of Macatawa Bank announced before the markets opened this morning a stock swap arrangement that took place last Monday. Holders of Series A and B Noncumulative Convertible Perpetual Preferred Stock either accepted shares of common stock or a cash payout. It’s another sign of the Holland Township-based financial institution’s recovery from what Chairman Rich Postma said was a “troubled time.”

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