HOLLAND, MI (WHTC) – The bottom line numbers are apparently still looking good at Macatawa Bank.
Officials of the Holland-based financial institution reported after the markets closed on Thursday first quarter results of 4.5 million dollars in net income, increased revenue on reduced expenses, strong commercial loan production volume, past due loans remaining at “very low” levels, and a ninth consecutive three-month period of net recoveries in loal collections.
Buoyed by a 28 percent increase in revenue from the same time frame 12 months ago, Macatawa president and CEO Ronald Hahn said in a statement that, “We continue to execute on our strategy to drive profitable growth…we remain well positions to benefit from future (Federal Reserve) rate increases, and as we look to the remainder of 2017, we intend to continue to drive quality loan portfolio growth, increase revenue and manage expenses.”
